|By Marketwired .||
|July 2, 2014 02:11 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/02/14 -- Williams Creek Gold Limited ("Williams Creek," or the "Company") (TSX VENTURE: WCX) is pleased to announce the release of its audited Financial Statements and its Management's Discussion and Analysis for the first quarter ended April 30, 2014. These financial statements have been prepared in accordance with the International Financial Reporting Standards (IFRS).
For the first quarter, the Company is reporting net earnings of $195,447, compared to a net loss of $422,968 in the prior year's quarter. Unrealized gains on investments of $263,849 and realized gains of $14,009 accounted for the majority of the decrease in losses. As for expenses, general administration expenses decreased by $26,399 and stock-based compensation expenses decreased by $30,426. No exploration expenditures were incurred and no investing activities were undertaken this quarter. The comprehensive loss for the quarter is $308,706, after accounting for an unrealized loss on investments of $504,153 relating to the company's investment in Tyhee, versus a comprehensive loss of $1,077,475 for the same period in the prior year.
sAs at April 30, 2014, the Company has cash and cash equivalents of $260,404, investments held for trading of $885,128, and long-term investments of $2,128,889. The balance sheet remains strong, with assets of $7,745,782 and liabilities of $61,098.
Significant events occurring subsequent to the period end include changes to management on June 13th. Interim CEO and Chairman James Wyant resigned from the Board of Directors and Dr. Hans Peter Black was appointed interim CEO and Chairman.
About Williams Creek Gold Limited (WCX)
Visit http://www.WilliamsCreek.ca to learn more about Williams Creek Gold Limited.
Williams Creek Gold Limited is a Canadian company with the primary purpose of participating broadly in the natural resource sector, with an emphasis on the gold sub-sector, through exploration, joint ventures or other equity investments.
The Company owns various mineral interests in the Cariboo, Kamloops and Omineca Mining Divisions in the province of British Columbia. The Company also has a joint venture outside of Yellowknife, NT, and a net 30% interest in the ATW diamond property in the MacKenzie Mining District of the Northwest Territories.
The Company is engaged in the exploration of mineral properties, an inherently risky business. There is no assurance that a mineral deposit will ever be discovered and economically produced. Most exploration projects do not result in the discovery of commercially mineable ore deposits. The price of gold is affected by numerous factors beyond the control of the Company and has been volatile over short periods of time.
The Company is subject to the laws and regulations relating to environmental matters in all jurisdictions in which it operates, including provisions relating to property reclamation, discharge of hazardous material and other matters. The Company may also be held liable should environmental problems caused by former owners and operators of its properties and properties in which it had an interest be discovered. The Company believes it conducts its mineral exploration activities in compliance with all local legislation and regulation as well as all applicable environmental protection legislation. The Company is not aware of any existing environmental problems related to any of its current or former properties that may result in material liability to the Company. Environmental legislation is becoming increasingly stringent and costs and expenses of regulatory compliance are increasing. The impact of new and future environmental legislation on the Company's operations may cause additional expenses and restrictions. If the restrictions adversely affect the scope of exploration and development on the mineral properties, the potential for production on the property may be diminished or negated. Although, the Company has taken steps to verify the title to mineral properties in which it has an interest, in accordance with industry standards for the current stage of exploration of such properties, these procedures do not guarantee the Company's title. Property title may be subject to unregistered prior agreements or transfers and title may be affected by undetected defects. The Company has no revenues from operations at present; the only sources of funds currently available to the Company are the appreciation of assets held by the company and their sale, the sale of equity capital, or the offering of an interest in its projects to another party.
The Company is a reporting issuer in British Columbia, trading on the TSX Venture Exchange under the symbol "WCX.V".
On behalf of the Board of Directors,
Hans Peter Black, Chairman and interim CEO
Williams Creek Gold Limited
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements including management's assessments of future plans and operations, and the anticipated timing of meeting the terms of its joint venture agreement obligations. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to, the risks associated with the mining and exploration industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures), and the uncertainty of the availability of capital. The assumptions used in the preparation of such statements, 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.
Williams Creek Gold Limited
Hans P. Black
Chairman and interim CEO
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Dec. 4, 2016 11:15 AM EST Reads: 871
Major trends and emerging technologies – from virtual reality and IoT, to Big Data and algorithms – are helping organizations innovate in the digital era. However, to create real business value, IT must think beyond the ‘what’ of digital transformation to the ‘how’ to harness emerging trends, innovation and disruption. Architecture is the key that underpins and ties all these efforts together. In the digital age, it’s important to invest in architecture, extend the enterprise footprint to the cl...
Dec. 4, 2016 11:15 AM EST Reads: 2,185
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor – all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
Dec. 4, 2016 11:15 AM EST Reads: 5,722
"Dice has been around for the last 20 years. We have been helping tech professionals find new jobs and career opportunities," explained Manish Dixit, VP of Product and Engineering at Dice, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 4, 2016 10:45 AM EST Reads: 864
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
Dec. 4, 2016 09:45 AM EST Reads: 533
Rapid innovation, changing business landscapes, and new IT demands force businesses to make changes quickly. In the eyes of many, containers are at the brink of becoming a pervasive technology in enterprise IT to accelerate application delivery. In this presentation, attendees learned about the: The transformation of IT to a DevOps, microservices, and container-based architecture What are containers and how DevOps practices can operate in a container-based environment A demonstration of how ...
Dec. 4, 2016 09:45 AM EST Reads: 861
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
Dec. 4, 2016 09:30 AM EST Reads: 597
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, drew together recent research and lessons learned from emerging and established compa...
Dec. 4, 2016 09:30 AM EST Reads: 788
Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service. In his session at 19th Cloud Exp...
Dec. 4, 2016 09:00 AM EST Reads: 564
"Venafi has a platform that allows you to manage, centralize and automate the complete life cycle of keys and certificates within the organization," explained Gina Osmond, Sr. Field Marketing Manager at Venafi, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 4, 2016 08:45 AM EST Reads: 800
Effectively SMBs and government programs must address compounded regulatory compliance requirements. The most recent are Controlled Unclassified Information and the EU's GDPR have Board Level implications. Managing sensitive data protection will likely result in acquisition criteria, demonstration requests and new requirements. Developers, as part of the pre-planning process and the associated supply chain, could benefit from updating their code libraries and design by incorporating changes. In...
Dec. 4, 2016 08:30 AM EST Reads: 997
"Coalfire is a cyber-risk, security and compliance assessment and advisory services firm. We do a lot of work with the cloud service provider community," explained Ryan McGowan, Vice President, Sales (West) at Coalfire Systems, Inc., in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 4, 2016 08:30 AM EST Reads: 776
Regulatory requirements exist to promote the controlled sharing of information, while protecting the privacy and/or security of the information. Regulations for each type of information have their own set of rules, policies, and guidelines. Cloud Service Providers (CSP) are faced with increasing demand for services at decreasing prices. Demonstrating and maintaining compliance with regulations is a nontrivial task and doing so against numerous sets of regulatory requirements can be daunting task...
Dec. 4, 2016 08:15 AM EST Reads: 772
CloudJumper, a Workspace as a Service (WaaS) platform innovator for agile business IT, has been recognized with the Customer Value Leadership Award for its nWorkSpace platform by Frost & Sullivan. The company was also featured in a new report(1) by the industry research firm titled, “Desktop-as-a-Service Buyer’s Guide, 2016,” which provides a comprehensive comparison of DaaS providers, including CloudJumper, Amazon, VMware, and Microsoft.
Dec. 4, 2016 08:15 AM EST Reads: 717
Businesses and business units of all sizes can benefit from cloud computing, but many don't want the cost, performance and security concerns of public cloud nor the complexity of building their own private clouds. Today, some cloud vendors are using artificial intelligence (AI) to simplify cloud deployment and management. In his session at 20th Cloud Expo, Ajay Gulati, Co-founder and CEO of ZeroStack, will discuss how AI can simplify cloud operations. He will cover the following topics: why clou...
Dec. 4, 2016 08:00 AM EST Reads: 697