Business
Aurwest Reports Second Quarter Financial and Operating Results
CALGARY, AB / ACCESSWIRE / August 24, 2023 / Aurwest Resources Corporation (" Aurwest " or the "...
About this update from Aurwest Resources Corp.
[{"type":"text","content":"Aurwest Reports Second Quarter Financial and Operating ResultsCALGARY, AB / ACCESSWIRE / August 24, 2023 / Aurwest Resources Corporation (\"Aurwest\" or the \"Company\") (CSE:AWR) is pleased to announce that the company has filed its interim financial statements (\"Financial Statements\"), management's discussion and analysis (\"MD&A\"), and quarterly certifications for the three and six month period ended June 30, 2023.Further to filing the Company's Financial Statements and MD&A, the Company is pleased to provide an update on our quarterly operating highlights as set out below:Operating Highlights:Reduced operating costs by 15% to $136,911 during the second quarter.Terminated Stony Lake option agreement on April 20, 2023, to minimize the Company's future capital obligation and allow the Company to refocus its exploration activities going forward on the Paradise Lake and Miguels Lake gold projects.Expanded its executive team with the appointment of Sonja Kuehnle, as CFO of the Company, effective May 11, 2023.Ongoing analysis of historical Phase 1 & 2 drilling results, assessment reports and geophysicist technical evaluation, focusing specifically on Twin Ponds area within Paradise Lake. See Exhibit #1, below.Selected Financial DataThe following selected financial data is summarized from the Company's Financial Statements. A copy of the Financial Statement and MD&A is available at www.aurwestresources.com or on SEDAR+ at www.sedarplus.ca. Three months ended June 30, 2023 Three months ended June 30, 2022 Loss and comprehensive loss $136,911 $158,353 Loss per share - basic and diluted $0.00 $0.00 June 30, 2023 December 31, 2022 Cash $208,790 $337,292 Total assets $4,625,723 $4,775,613 Total current liabilities $349,789 $335,765 Total liabilities $345,789 $335,765 Total shareholders' equity $4,275,934 $4,439,848 Cameron MacDonald, Interim President and CEO of Aurwest commented; \"Our 2022 exploration program located a significant number of gold showings, that shows a strong spatial correlation to the Cape Ray-Valentine Lake structure underlying the Paradise Lake-Twin Ponds area of the Paradise Lake project. This area, will be one of our focus areas going into the next exploration phase. Our current geological and technical evaluation work, which is ongoing, and is focusing on the near surface portion of a, coinciden...