Monthly Archives: May 2017

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%.