Copperstone Resources Releases Q3 Report

Copperstone Resources (NASDAQ:COPP_B) has released its interim quarterly report for the period ended September 30 2018.

During the quarter a letter of intert was signed for the acquisition of the Viscaria copper project, Copperstone announced a succesful drilling campaign at Granliden Hill and confirmed a large scale mineral resource potential at Granlinden/Svartliden.

As highlighted in the press release:

Financial results for the Group for July 1^st to September 30^th 2018:

• Result before taxes amounted to -955,000 (-962,000) krona.
• Earnings after tax per share were 0.0 (-0.0) krona.
• The cash flow during the period was -5,428,00 (351,000) krona.

Financial results for the Group for Year to date as of September 30^th 2018:

• Result before taxes amounted to 4,589,000 (-6,026,000) krona.
• Earnings after tax per share were 0.02 (-0.03) krona.
• The profit for 2018 is due to the netting of receivable in NIO for shares and a convertible. The receivable was acquired by Copperstone at a discount to nominal value in 2016, generating a profit of 8.2 million krona at its finalization before the listing of NIO at Nasdaq First North.
• The closing balance of cumulative capitalized expenditure for exploration amounted to 56,483,000 (35,694,000) krona.
• Total assets at the end of the period was 77,387,000 (50,760,000) krona.
• The cash flow during the period was -25,949,000 (1,606,000) krona.
• The liquidity at the end of the period was 2,337,000 (4,335,000) krona.

Click here to read the full Copperstone Resources (NASDAQ:COPP_B) press release.