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INV Metals Inc. (TSE:INV) reports its financial results for the three and six month periods ended June 30, 2011.
INV Metals Inc. (TSX:INV) reports its financial results for the three and six month periods ended June 30, 2011.
The press release is quoted as saying,
The Company recorded a net loss of $559,926 or $0.01 per share for the three month period ended June 30, 2011 (“Q2/2011″), compared with a net loss of $488,374 or $0.01 per share for the corresponding period ended June 30, 2010 (“Q2/2010″). The Company’s cash balance as at June 30, 2011 was $17.1 million, compared to $21.3 million at year end 2010; the decrease was mainly due to the Company’s exploration expenditures on its properties in Namibia and Brazil. The Company believes it has sufficient funds to conduct all of its currently planned exploration and business activities in 2011.