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Mason Resources has reported its financial results for the first quarter ended March 31, 2018, detailing a net loss of US$0.3 million, down 57 percent from Q1 2017 when net loss was US$0.7 million.
Mason Resources (TSX:MNR) has reported its financial results for the first quarter ended March 31, 2018, detailing a net loss of US$0.3 million, down 57 percent from Q1 2017 when net loss was US$0.7 million.
According to the press release the companies focus going forward will be maximizing market value through assessing and executing on options to move its Ann Mason copper-molybdenum project in Nevada forward.
The company also said that it was undertaking a process to prioritize and progress other growth strategies involving its Lordsburg copper-gold porphyry property in New Mexico and additional potential new exploration acquisitions.
Also highlighted in the press release:
Operating cash outflow after working capital movements for Q1 2018 was $0.1 million, which was a reduction of 85 percent from the comparative period of 2017 ($0.7 million cash outflow).
The Company’s cash balance at March 31, 2018 was $7.1 million with no debt.
Click here to view the full Mason Resources (TSX:MNR) press release.
