BVI mining corporation reported financial results for three months ended March 31, 2017

Talon Metals Corp. announced financial results for the three months period ended March 31, 2017. The BVI corporation reported net loss of $1.9 million, or $0.01 per share (basic and diluted), due to the fair value revaluation of the Resource Capital Fund VI L.P. unsecured convertible loan and administration expenses. The reported net loss compares to net income for the three months ended March 31, 2016, of $1.8 million or $0.01 per share (basic and diluted).

Capitalized exploration costs and deferred expenditures on the Tamarack Nickel-Copper-PGE Project of the company for the three months ended March 31, 2017 were $1.0 million, as compared to $21.2 million for the same period of 2016. The total capitalized exploration cost on the Project to March 31, 2017 amounted to $38.1 million.

Aura Minerals Inc. announced financial and operating results for Q1 2017

Aura Minerals Inc., the gold-copper production company which redomiciled from Canada to the British Virgin Islands,
reported financial and operating results for the first quarter of 2017. Net sales revenue announced by the company in the first quarter of 2017 decreased by 2%, as compared to the first quarter of the previous year, and gold production for the first quarter of 2017 was 11% lower compared to the same period.

During the first quarter of 2017, cash operating costs per ounce produced and per ounce sold were 3% and 9%, respectively, higher than the comparable period in 2016. All-in costs per ounce sold for the first quarter of 2017 was 19% higher than in the same period of last year, because of lower gold sales volume, higher production costs, general and administration expense and capital expenditures.

China Information Technology, Inc. announced six months financial results

BVI company China Information Technology, Inc. reported financial results for the first half of the year ended December 31, 2016. In this period, company’s revenues were US$7.24 million, and company’s net earnings were US$11.11 million. Earnings increased compared to the same period of the previous year, despite the decrease in operating and pretax margins.

Company’s gross margins narrowed from 38.90% to 22.86% in the first half of 2016, compared to the same period last year. Operating (EBITDA) margins now make -53.91%, from -12.75%.

Atlas Mara Limited reported unaudited first quarter results

BVI-registered financial services company Atlas Mara Limited announced unaudited fiscal results for the first quarter ended 31 March 2017. For the three months of the year, the company reported profit after tax of US$5.0mln, which is its largest quarterly operating profit since inception. Company’s total operating expenditure was 13.0% lower than in the comparative prior period.

Atlas Mara’s total income increased by 12.5% compared to the previous year, driven by the 56.5% increase in net interest income. Expenses declined by 13% on year-on-year basis, and by 10.6% on a constant currency basis. The cost to income ratio in the first quarter of 2017 was 85.6%. Atlas Mara reported a profit of US$5.2 million for the first three months of 2017, on an adjusted operating profit basis, and an adjusted cost-to-income ratio was 85.4%.

In the first three months of 2017, company’s reported equity was US$547.7 million, an increase of US$21.6 million from 31 December 2016. Book value per share is at US$6.89 at 31 March 2017 (compared to US$7.29 in the previous quarter). Tangible book value per share is at $5.31 at 31 March 2017 ($5.27 at 31 December 2016).

Atlas Mara expects to deliver a significant improvement in earnings in 2017, as the company plans to execute on cost savings and revenue growth plans. It also targets reported earnings for 2017 of more than double the level achieved in 2016.