Southern Arc Year-end Financial Results
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct 28, 2015) - Southern Arc Minerals Inc. (TSX VENTURE:SA) ("Southern Arc" or the "Company") has released the results of its fiscal year ended June 30, 2014. All amounts are in Canadian dollars unless otherwise stated.
FINANCIAL SNAPSHOT
| June 30, 2015 | June 30, 2014 | June 30, 2013 | |||||||
| Total assets | $ | 5,685,639 | $ | 9,423,679 | $ | 18,192,286 | |||
| Exploration properties | 102,068 | 102,068 | 102,068 | ||||||
| Working capital | (386,509 | ) | 2,677,476 | 16,060,362 | |||||
| Comprehensive loss | (3,967,266 | ) | (8,680,792 | ) | (41,945,170 | ) | |||
| Basic and diluted loss per share | $ | (0.36 | ) | $ | (0.78 | ) | $ | (3.8 | ) |
Additional information regarding the Company's financial results and portfolio of projects and investments is available in the audited consolidated 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 that will be advanced in partnership with Vale International SA. Southern Arc also owns more than 6% of Oban Mining Corp., which is advancing the high-grade Windfall Lake Gold Project in Quebec, Canada, and has applied for 38 exploration licenses in Northern Japan in an underexplored 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 Minerals Inc.
Rhylin Bailie
Vice President, Communications & Investor Relations
604-609-6147
info@southernarcminerals.com
www.southernarcminerals.com