Monthly Archives: April 2018

Orca Exploration reported financial results for year 2017

BVI-incorporated international public company Orca Exploration Group Inc. announced its financial results for the year ended December 31, 2017. For the reported year, company’s revenue was US$51.9mln, which is 21% decrease from US$65.9mln in the previous year. The company announced net loss of US$2.5mln in 2017, compared to net income of US$2.2mln in the year 2016.

Net cash flows from operating activities of the BVI company for the year were US$48.2mln, which is an increase by 141% from US$20.0mln in the previous year. Orca’s funds flow from operations for the year was US$14.8mln, which is 53% decrease from US$31.9mln in 2016. This decrease is primarily the consequence of the fall in the company’s operating revenue and lower sales of Additional Gas volumes. Orca Group’s working capital decreased 3% to US$69.6mln, as compared to US$72.0mln in the end of 2016.

The shareholders meeting will be held by the Board of Directors of Orca Group on June 6, 2018.

Talon Metals announced financial results for the year ended December 31, 2017

Talon Metals Corp., the British Virgin Islands-incorporated exploration company listed on TSX, reported financial results for the year ended December 31, 2017. The company reported a net loss for the year in the amount of US$3.2 million or $0.02 per share (basic and diluted). This compares to net loss for the previous year in the amount of US$1.4 million, or US$0.01 per share. The increase in net loss in 2017 is primarily the result of a loss on the fair value revaluation of the Resource Capital Fund unsecured convertible loan and administration expenses.

Capitalized exploration costs and deferred expenditures on the Tamarack Nickel-Copper-PGE Project amounted to $1.8 million for the year ended December 31, 2017. The total capitalized exploration cost on the Tamarack Nickel-Copper-PGE Project amounted to US$38.9 million.