Pasinex Resources Announces Nine Month 2015 Financial Results

Pasinex Resources Limited (CSE:PSE,FSE:PNX) announced the release of their financial results for the nine months ended September 30, 2015.
As quoted in the press release:

Financial Statement Highlights of the Horzum A.S. Joint Venture Company Ended September 30, 2015
– Sales: High grade direct shipping of zinc mineral product from Pinargozu mine totalled at least 12,428 (wet weight) assaying +30% Zn. Subsequent to this date the company has sold another 1,215 tonnes (wet weight) of product (News release October 16, 2015) and 1,478 tonnes (wet weight) (News release November 26, 2015)
– Gross Sales: $3,301,159 CAD for the nine months ended September 30, 2015
– Net Income: $835,578 CAD for the nine months ended September 30, 2015
– Balance Sheet: Total Assets $5,427,828 CAD

Pasinex Resources President and CEO, Steve Williams, stated:

For the second quarter in a row, the joint venture company in Turkey has recorded another profitable quarter with a net profit margin for the year of a little over 25%. This is a significant achievement for the company at such an early stage. The increase is due primarily to the rise in tonnes produced per day -40 tonnes per day to as high as 60 tonnes per day. The resulting cash flow is funding the development and exploration program there, where we are targeting a much bigger zinc resource. We are well on our way to building the Horzum A.S. joint venture company and Pasinex into a small, but strong zinc producer and we are confident these positive results will continue.

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