Sabina Gold & Silver Announces Q2 2010 Financial Results

Sabina Gold & Silver Corp.(TSX:SBB) reported the financial results for the quarter ended June 30, 2010.

The press release is quoted as saying:

For the three and six month periods ended June 30, 2010, the Company reported net losses of $1.0 million and $2.5 million respectively compared to $1.5 million and $1.9 million in the corresponding periods of 2009. The loss for the six month period in 2010 was $0.6 million higher than in the same period of 2009 due largely to an unrealized gain on a held-for-trading investment of $0.8 million recorded in 2009. In November 2009, the Company sold that investment, realizing a total gain of $6.9 million and consequently, no further investment gains were recorded in 2010. The company had cash and cash equivalents of $42 million at June 30, 2010 compared to cash and cash equivalents of $45.0 million at December 31, 2009.

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