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News Release
NEWS RELEASE
Southern Arc First Quarter Financial Results
TSX-V: SA
November 27, 2015 - Vancouver, British Columbia - Southern Arc Minerals Inc. (TSX-V: SA) ('Southern Arc' or the 'Company') has released the results of its first quarter ended September 30, 2015. All amounts are in Canadian dollars unless otherwise stated.
FINANCIAL SNAPSHOT
September 30, 2015
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June 30, 2015
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June 30, 2014
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Total assets
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$ 6,809,915
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$ 5,685,639
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$ 9,423,679
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Exploration properties
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102,068
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102,068
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102,068
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Working capital
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5,915,712
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(386,509)
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2,677,476
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Comprehensive income / (loss)
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811,192
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(3,967,266)
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(8,680,792)
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Basic and diluted income / (loss) per share
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$ 0.11
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$ (0.36)
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$ (0.78)
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Additional information regarding the Company's financial results and portfolio of projects and investments is available in the unaudited consolidated interim financial statements and Management's Discussion and Analysis, which are available for download on the Company's website at www.southernarcminerals.com and on SEDAR at www.sedar.com.
Southern Arc also announced that the Company has granted 959,000 stock options to directors, officers and consultants. The options are exercisable at $0.32 for a period of five years, with 25% vesting immediately and 25% vesting every six months thereafter. The Company has cancelled 189,500 stock options with exercise prices ranging from $1.00 to $18.50.
On behalf of the Board of Southern Arc Minerals Inc.
'John Proust'
Executive Chairman & Chief Executive Officer
About Southern Arc Minerals
Southern Arc Minerals Inc. is a Canadian mineral exploration company focused on gold and copper-gold exploration. The Company is advancing two properties in Indonesia: West Lombok, a resource-stage property with several gold rich copper porphyry and epithermal gold vein prospects, and East Elang, a grassroots exploration property that will be advanced in partnership with Vale International SA. Southern Arc also holds an investment in Oban Mining Corporation, which is advancing the high-grade Windfall Lake Gold Project in Quebec, Canada, and has applied for 80 prospecting rights licenses in Northern Japan in an area with known gold occurrences and a history of mining. More information is available at www.southernarcminerals.com.
Southern Arc Contact
Rhylin Bailie, Vice President, Communications & Investor Relations Telephone: 604-609-6147
Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Southern Arc Minerals Inc.
Suite 3123 - 595 Burrard Street, Vancouver, BC V7X 1J1 Canada Phone: 604-609-6147
www.southernarcminerals.com
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Southern Arc Minerals Inc.
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CODE : SA.V |
ISIN : CA8422001070 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Southern Arc is a gold exploration company based in Canada. Southern Arc holds various exploration projects in Indonesia. Its main exploration properties are SELODONG, WEST LOMBOK and EAST LOMBIK in Indonesia. Southern Arc is listed in Canada. Its market capitalisation is CA$ 13.6 millions as of today (US$ 10.2 millions, € 8.7 millions). Its stock quote reached its highest recent level on December 31, 2007 at CA$ 2.48, and its lowest recent point on November 22, 2013 at CA$ 0.03. Southern Arc has 15 230 000 shares outstanding. |