Great Western Minerals Group, Ltd. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Reports Impairment of Property, Plant and Equipment for the Second Quarter of 2014
For the six months, the company reported sales of CAD 12,720,107 against CAD 7,600,477 a year ago. Loss before income taxes was CAD 15,255,812 against CAD 12,268,515 a year ago. Net loss from continuing operations was CAD 15,255,812 or CAD 0.036 per basic and diluted share against net loss from continuing operations of CAD 12,153,360 or CAD 0.029 per basic and diluted share a year ago. Net loss was CAD 15,414,033 or CAD 0.036 per basic and diluted share against net loss of CAD 12,471,861 or CAD 0.030 per basic and diluted share a year ago. Cash flows used in operating activities was CAD 6,930,462 against CAD 14,643,777 a year ago. Investment in property, plant and equipment was CAD 457,440 against CAD 4,865,015 a year ago.
For the quarter, the company reported impairment of property, plant and equipment was CAD 425,288.