|By Marketwired .||
|June 11, 2014 05:02 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 06/11/14 -- PhosCan Chemical Corp. (TSX:FOS) today released its quarterly results for the period ended April 30, 2014.
PhosCan reported a net loss of $135 thousand for the three months ended April 30, 2014 compared to a net loss of $106 thousand for the same period of the previous fiscal year. The increase in net loss of $29 thousand was primarily due to a $102 thousand decrease in foreign exchange gains partially offset by a $78 thousand decrease in professional and legal fees.
Cash, cash equivalents, short-term investments and marketable securities were $56.1 million at April 30, 2014 versus $56.2 million at January 31, 2014 and working capital was $57.0 million versus $57.1 million. The decreases were primarily due to administration expenses (excluding depreciation) of $301 thousand net of interest income of $192 thousand.
Capitalized expenditures on the Martison Project were $96.0 million at April 30, 2014 as compared to $95.9 million at January 31, 2014. The increase was primarily due to the expense of maintaining the project in good standing with all stakeholders in order to enable the Company to resume the feasibility study of the project when it believes it can secure suitable financing to develop the project to commercial production. Further exploration and evaluation work on the Martison Project will occur as part of the feasibility study.
For a more complete review of the Company's results, copies of PhosCan's financial statements and management's discussion and analysis for the quarter ended April 30, 2014 may be found on SEDAR (www.sedar.com) or the Company's website at www.phoscan.ca.
PhosCan owns a 100% interest in the Martison Project and currently has cash, short term investments and marketable securities of approximately $55.8 million. The Company continues to monitor economic conditions for attractively priced acquisitions and investment opportunities that would be accretive to shareholder value.
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of PhosCan, including, but not limited to, the impact of general economic conditions, industry conditions, volatility of financial markets and commodity prices, risks associated with the uncertainty of exploration results and estimates and that the resource potential will be achieved on development projects, results of future metallurgical testing, currency fluctuations, dependence upon regulatory approvals, and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
PhosCan Chemical Corp.
President & CEO
While DevOps most critically and famously fosters collaboration, communication, and integration through cultural change, culture is more of an output than an input. In order to actively drive cultural evolution, organizations must make substantial organizational and process changes, and adopt new technologies, to encourage a DevOps culture. Moderated by Andi Mann, panelists discussed how to balance these three pillars of DevOps, where to focus attention (and resources), where organizations migh...
Jul. 7, 2015 04:00 AM EDT Reads: 2,505
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and Containers together help companies to achieve their business goals faster and more effectively. In his session at DevOps Summit, Ruslan Synytsky, CEO and Co-founder of Jelastic, reviewed the current landscape of...
Jul. 7, 2015 03:45 AM EDT Reads: 2,834
Jul. 7, 2015 02:00 AM EDT Reads: 1,252
Jul. 7, 2015 01:15 AM EDT Reads: 879
Jul. 6, 2015 11:00 PM EDT Reads: 1,926
Jul. 6, 2015 07:45 PM EDT Reads: 1,909
Jul. 6, 2015 07:45 PM EDT Reads: 1,619
Jul. 6, 2015 07:00 PM EDT Reads: 1,159
Jul. 6, 2015 06:15 PM EDT Reads: 1,972
Jul. 6, 2015 05:30 PM EDT Reads: 1,199
Jul. 6, 2015 05:00 PM EDT Reads: 1,984
Jul. 6, 2015 05:00 PM EDT Reads: 2,166
Jul. 6, 2015 04:30 PM EDT Reads: 711
Jul. 6, 2015 04:15 PM EDT Reads: 1,578
Jul. 6, 2015 03:45 PM EDT Reads: 1,773