Entree Gold Announces First Quarter 2014 Results
13 Maggio 2014 - 11:59PM
Marketwired
Entree Gold Announces First Quarter 2014 Results
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 13, 2014) -
Entrée Gold Inc. (TSX:ETG)(NYSEMKT:EGI)(FRANKFURT:EKA) ("Entrée" or
the "Company") has today filed its interim operational and
financial results for the quarter ended March 31, 2014.
For the quarter ended March 31, 2014, the Company incurred a net
loss of US$1,279,985 (US$0.01 per share) compared to a net loss of
US$5,091,844 (US$0.04 per share) for the quarter ended March 31,
2013.
As at March 31, 2014, the Company had working capital of
US$43,278,927, including cash of US$44,440,659.
The lower operating expenditures for the quarter ended March 31,
2014, compared to the same period last year, resulted from several
factors including lower general and administrative expense, lower
consultancy and advisory fees, lower exploration costs primarily
due to reduced activity at Ann Mason and higher foreign exchange
gains and deferred income tax recoveries.
SELECTED FINANCIAL INFORMATION
|
|
As at March 31, 2014 (US$) |
As at March 31, 2013 (US$) |
|
Working capital (1) |
43,278,927 |
55,119,275 |
| Total
assets |
92,784,050 |
108,672,304 |
|
Total long term liabilities |
48,818,885 |
54,554,934 |
|
|
|
(1) |
Working Capital is defined as Current Assets less Current
Liabilities |
The Company's Interim Financial Statements and accompanying
management's discussion and analysis ("MD&A") for the quarter
ended March 31, 2014 and its Annual Information Form for the year
ended December 31, 2013 are available on the Company website, on
SEDAR at www.sedar.com and on EDGAR at www.sec.gov.
ABOUT ENTRÉE GOLD INC.
Entrée Gold Inc. is a Canadian mineral exploration company
balancing opportunity and risk with key assets in Mongolia and
Nevada. As a joint venture partner with a carried interest on a
portion of the Oyu Tolgoi mining project in Mongolia, Entrée has a
unique opportunity to participate in one of the world's largest
copper-gold projects managed by one of the premier mining companies
- Rio Tinto. Oyu Tolgoi, with its series of deposits containing
copper, gold and molybdenum, has been under exploration and
development since the late 1990s.
Additionally, Entrée has been advancing its Ann Mason Project in
one of the world's most favourable mining jurisdictions, Nevada.
The Ann Mason Project hosts the Ann Mason copper-molybdenum deposit
as well as the Blue Hill copper deposit within the rejuvenated
Yerington copper camp.
Sandstorm Gold, Rio Tinto and Turquoise Hill Resources are major
shareholders of Entrée, holding approximately 12%, 11% and 9% of
issued and outstanding shares, respectively.
Monica HammManager, Investor RelationsEntree Gold
Inc.604-687-4777604-687-4770Toll Free:
866-368-7330mhamm@entreegold.com
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