Minco Silver Announces Third Quarter Fiscal 2019 Loss
VANCOUVER, Nov. 14, 2019 - Minco Silver Corporation (the "Company" or "Minco Silver") (TSX: MSV OTCQX: MISVF; WKN: A0ESX5) today reported financial results for its fiscal third quarter ended September 30, 2019. As at September 30, 2019 the company had working capital of approximately of $44.5 million on hand. The Company has been reviewing mineral projects with merit and will make use of the Company's working capital to increase shareholders value.
The current period loss reflects the Company's decision to record a non-cash impairment loss of $64.4 million consisting of write-downs of the Company's historical expenditures on the Fuwan Silver Deposit and Changkeng Gold projects, due mainly to the delays experienced in obtaining permits for these projects.
Notwithstanding the write-down, the Company intends to renew all permits and keep the titles to its Fuwan Silver Deposit and Changkeng Gold projects in good standing.
About Minco Silver
Minco Silver Corp. is a TSX and OTCQX listed company focusing on the exploration and development of mineral resource projects. We seek to identify and acquire precious metal dominant projects that we believe will enhance shareholder value. For more information on Minco Silver, please visit the Company's website at www.mincosilver.ca or contact Jennifer Trevitt, at 1-888-288-8288 or (604) 688-8002 pr@mincosilver.ca
SOURCE Minco Silver Corp.
Contact
2060 - 1055 W. Georgia St., Vancouver, BC, Canada, V6E 3R5,Tel: (604)688-8002, Fax: (604)688-8030, Toll Free: (888)288-8288, E-mail: pr@mincomining.ca, Website: www.mincosilver.ca