Southern Arc Second Quarter Financial Results
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 29, 2016) - Southern Arc Minerals Inc. (TSX VENTURE:SA) ("Southern Arc" or the "Company") has released the results of its second quarter ended December 31, 2015. All amounts are in Canadian dollars unless otherwise stated.
FINANCIAL SNAPSHOT
| December 31, 2015 | June 30, 2015 | June 30, 2014 | ||||||||||
| Total assets | $ | 5,283,640 | $ | 5,685,639 | $ | 9,423,679 | ||||||
| Exploration properties | - | 102,068 | 102,068 | |||||||||
| Working capital | 4,540,039 | (386,509 | ) | 2,677,476 | ||||||||
| Comprehensive loss | (787,119 | ) | (3,967,266 | ) | (8,680,792 | ) | ||||||
| Basic and diluted loss per share | $ | (0.02 | ) | $ | (0.36 | ) | $ | (0.78 | ) | |||
Additional information regarding the Company's financial results and portfolio of projects and investments is available in the unaudited consolidated interim financial statements and Management's Discussion and Analysis, which are available for download on the Company's website at www.southernarcminerals.com and on SEDAR at www.sedar.com.
On behalf of the Board of Southern Arc Minerals Inc.
John Proust, Executive Chairman & Chief Executive Officer
About Southern Arc Minerals
Southern Arc Minerals Inc. is a Canadian mineral exploration company focused on gold and copper-gold exploration. The Company is advancing two properties in Indonesia: West Lombok, a resource-stage property with several gold rich copper porphyry and epithermal gold vein prospects, and East Elang, a grassroots exploration property. Southern Arc also holds an investment in Oban Mining Corp., which is advancing the high-grade Windfall Lake Gold Project in Quebec, Canada, and has applied for 80 prospecting rights licenses in Northern Japan in an area with known gold occurrences and a history of mining. More information is available at www.southernarcminerals.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact
Southern Arc Contact
Rhylin Bailie
Vice President, Communications & Investor Relations
604-609-6147
info@southernarcminerals.com
www.southernarcminerals.com