Aurwest Reports Third Quarter Financial and Operating Results
CALGARY, November 13, 2023 - Aurwest Resources Corp. ("Aurwest" or the "Company") (CSE:AWR)is pleased to announce that the company has filed its interim financial statements ("Financial Statements"), management's discussion and analysis ("MD&A"), and quarterly certifications for the three and nine month period ended September 30, 2023.
Further to filing the Company's Financial Statements and MD&A, the Company is pleased to provide an update on our quarterly operating highlights as set out below:
Third Quarter 2023 Highlights:
- Net loss for third quarter 2023 was $102,181, or $0.00 per-share.
- Cash at September 30, 2023 was $102,180.
- Reduced operating costs by 44% from the third quarter 2022, and 25% from second quarter 2023.
- The Company worked to minimize future capital obligation which will allow the Company to refocus its ongoing future exploration activities in Newfoundland.
- The Company continued its analysis of historical data from its Phase 1 & 2 drilling results, assessment reports and geophysicist technical evaluation, focusing specifically on Twin Ponds area within Paradise Lake.
Selected Financial Data
The following selected financial data is summarized from the Company's Financial Statements. A copy of the Financial Statement and MD&A is available at www.aurwestresources.com or on SEDAR+ at www.sedarplus.ca.
| | Three months ended September 30, 2023 | Three months ended September 30, 2022 | ||||||
| Loss and comprehensive loss | $ | 102,181 | $ | 183,370 | ||||
| Loss per share - basic and diluted | $ | 0.00 | $ | 0.00 | ||||
| | September 30, 2023 | December 31, 2022 | ||||||
| Cash | $ | 102,180 | $ | 337,292 | ||||
| Total assets | $ | 4,555,675 | $ | 4,775,613 | ||||
| Total current liabilities | $ | 381,922 | $ | 335,765 | ||||
| Total liabilities | $ | 381,922 | $ | 335,765 | ||||
| Total shareholders' equity | $ | 4,555,675 | $ | 4,439,848 | ||||
About Aurwest Resources Corporation
Aurwest is a Canadian-based junior resource company focused on the acquisition, exploration, and development of gold properties in Canada. The Company currently has two Option Agreements to earn a 100% interest in Paradise Lake a 23,600-hectare (236 km2) package of gold exploration licenses within the emerging Central Newfoundland gold district. The Company currently holds a 100% interest in the Stellar copper/gold Project, located approximately 25 kilometers southwest of Houston British Columbia.
On Behalf Of Aurwest Resources Corp.
"Cameron MacDonald"
Interim President and Chief Executive Officer
For Additional Information Please Contact
Cameron MacDonald
|Telephone: (403) 585-9875
Email: cmacdonald@aurwestresources.com
Website: www.aurwestresources.com
Forward-Looking Information
Statements included in this announcement, including statements concerning our plans, intentions, and expectations, which are not historical in nature are intended to be, and are hereby identified as "forward-looking statements". Forward looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation: additional exploration of the properties may not locate significant gold mineralization, the exploration program may not be completed as planned or at all; the Company may not be able to assemble a seasoned exploration team, the path finder elements may not be indicative of gold mineralization; the western margin of the Dunnage zone may not be located within the Property; the structural elements of the Central Newfoundland Gold Belt may not be similar to the Abitibi and Fosterville gold camps; the Company's ability to raise additional funding to conduct exploration; receipt of permits to conduct the exploration plans and matters relating to the Company's future operations and business prospects; certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward-looking statements. Any forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, except in accordance with the applicable laws.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
SOURCE: Aurwest Resources Corp.
View source version on accesswire.com:
https://www.accesswire.com/802887/aurwest-reports-third-quarter-financial-and-operating-results