Mason Resources Report Q1 Results

May. 14, 2018 10:06AM PST

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.

copper investing