Besra Gold Inc. Announces Unaudited Consolidated Earnings and Production Results for the Third Quarter and Nine Months Ended March 31, 2014; Revises Production Guidance for the Year 2014; Announces Impairment Charges for the Third Quarter Ended March 31, 2014
For the nine months, sales were $38,869,318 compared to $60,528,213 a year ago. Loss for the period before income tax was $47,159,285 compared to $7,698,020 a year ago. Total comprehensive loss attributable to equity owners was $40,870,829 or $0.108 basic and diluted per share compared to $8,955,205 or $0.024 basic and diluted per share a year ago. Cash provided by operating activities was $1,996,747 compared to $7,580,979 a year ago. Acquisition of property, plant and equipment was $2,001,007 compared to $2,062,507 a year ago. Deferred exploration and development costs was $2,996,410 compared to $7,298,619 a year ago.
For the quarter, gold produced was 3,943 ozs against 13,589 ozs a year ago.
For the nine months, gold produced was 25,918 ozs against 41,706 ozs a year ago.
The company revised production guidance for the year 2014. The company revising down production forecast for the year from 40,000 ozs - 45,000 ozs to 31,000 ozs - 34,000 ozs.
For the quarter, impairment charges were $2,264,145.