Pasinex Resources Ltd. today reported financial results for the third quarter of 2019. As expected, production from Horzum AS was lower than the prior year and combined with lower realized zinc prices in 2019, consolidated net income was lower than it was 2018. Adjusted consolidated net income for the nine months ended September 30, 2019, was approximately $2.5 million. Consolidated net loss for the nine months ended was [...]
Pasinex Resources Ltd. announces that they have reached an agreement with Cypress Development Corp. and Caliber Minerals Inc. to change the terms relating to the earn-in option agreement on the Spur zinc exploration property in Nevada, USA. The agreement changes the date of the $100,000 USD option payment to December 11th, 2019 and defers the 2019 exploration obligations into 2020, bringing the exploration obligations to [...]
Pasinex Resources Ltd. today reported financial results for the second quarter of 2019. As expected, production from Horzum AS was lower than the prior year and combined with lower realized zinc prices in 2019, consolidated net income was lower than it was in 2018. Adjusted consolidated net income for the six months ended June 30, 2019 was approximately $1.5 million. Consolidated net loss for the six months ended was [...]
Pasinex Resources Ltd. announced today the appointment of Mr. Andrew Gottwald as Chief Financial Officer. Steve Williams, President and Chief Executive Officer of Pasinex, commented, “I am very pleased that Mr. Gottwald has joined us as CFO as he brings a wealth of relevant experience to the company. I look forward to working with Mr. Gottwald particularly as we continue to work with the challenges in our Turkey [...]
Pasinex Resources Ltd. announced today that Wendy Kaufman, Chief Financial Officer and Corporate Secretary, has advised the Company that she will resign from the organization to pursue another opportunity. Steve Williams, President and Chief Executive Officer of Pasinex, commented, “On behalf of the Board of Directors and the Pasinex team, I want to thank Wendy for her commitment and leadership she has demonstrated [...]
Pasinex Resources Ltd. today reported financial results for the first quarter of 2019. As expected, production from Horzum AS was lower than the prior year and combined with lower realized zinc prices in 2019, consolidated net income was lower than 2018. Adjusted consolidated net income for the first quarter of 2019 was $0.5 million. Consolidated loss for the year was $0.2 million reflecting the impact of a $0.5 million [...]
Pasinex Resources Ltd. today reported financial results for the full year and fourth quarter ended December 31, 2018. On February 15, 2019 the Company reported solid operating results from Horzum AS that drove strong revenue, gross margins and adjusted equity gain from Horzum AS for the year. Adjusted consolidated net income for 2018 was $2.8 million. Consolidated loss for the year was $8.4 million reflecting the impact [...]
Pasinex Resources Ltd. is pleased to announce its 2018 preliminary production and mining costs from its Pinargozu mine along with production and cost estimates for 2019. Long Section showing the June 2017, NI 43-101 resource wire-frame and the deeper sulphide mineralized zone. 2018 operating highlights: Production in 2018 was 14% below our 2018 guidance due to difficult mining conditions as the mine operated in smaller [...]
Pasinex Resources Ltd. announces that it has filed an amended technical report on SEDAR. The report entitled “Amended NI 43-101 Technical Report, Pinargozu Project, Turkey”, and dated January 29, 2019 supersedes the report dated December 20, 2017 that was previously filed on SEDAR. The amended technical report was prepared by CSA Global Pty Ltd. in order to comply with National Instrument 43-101 and does not [...]
Pasinex Resources Ltd. today announces that as a result of a review by the British Columbia Securities Commission , the Company is issuing the following news release to clarify its disclosure. The Company filed a technical report for the Pinargozu Mine, dated December 20, 2017 . The issues identified by the BCSC involve disclosure made by the Company that is not fully compliant with National Instrument 43-101 Standards of [...]
Pasinex Resources Ltd. reported a small loss for the third quarter of 2018 of $0.2 million compared to net income of $1.8 million in Q3 2017. The decrease in net income is due to a lower equity gain from Horzum AS caused mainly by the drop in zinc prices in Q3. Highlights – Q3 2018 and 2017 Third Quarter 2018 2017 Pasinex financial results: Equity gain from Horzum AS $ 521,675 $ 2,698,696 Dividend received from [...]
Pasinex Resources Ltd. today announced that it has received additional funds of $345,000 from certain shareholders and directors of the Company adding to the former promissory notes issued in August 2018. The amended promissory notes amount to $745,000 plus accrued interest of $3,361. The funds were used to pay the instalment required under the Spur Zinc Project Option Agreement plus general working capital. In September [...]
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