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Contact Gold Reports Q1 2022 Financial and Operating Results and Voting Results from Annual Meeting
Vancouver, British Columbia--(Newsfile Corp. - May 30, 2022) - Contact Gold Corp. (TSXV: C)...
About this update from Commodore Metals Corp.
[{"type":"text","content":"Contact Gold Reports Q1 2022 Financial and Operating Results and Voting Results from Annual MeetingVancouver, British Columbia--(Newsfile Corp. - May 30, 2022) - Contact Gold Corp. (TSXV: C) (OTCQB: CGOLF) (the \"Company\" or \"Contact Gold\") is pleased to announce its financial and operating results for the three months ended March 31, 2022. Contact Gold is focused on advancing the Green Springs and Pony Creek gold projects in Nevada, both of which host extensive and robust Carlin Type gold systems. Drilling at Green Springs resumed in late May 2022.Selected Q1 2022 financial dataDetails of financial results as at and for the three months ended March 31, 2022 and 2021, are described in the unaudited condensed interim consolidated financial statements and related notes thereto (the \"Interim Financial Statements\") as prepared in accordance with International Financial Reporting Standards (\"IFRS\"), and the MD&A for the corresponding periods, copies of which are available on SEDAR at www.sedar.com. The following selected financial data is derived from the Interim Financial Statements. Unless otherwise stated, the information herein, and in the tables below, is presented in Canadian dollars.Attributable to shareholders for the period:March 31, 2022March 31, 2021Loss $816,536$1,709,113Other comprehensive loss $419,993$485,285Comprehensive loss $1,236,529$2,194,398Basic and diluted loss per share$0.00$0.01 Losses attributable to shareholders for the three months ended March 31, 2022 of $0.82 million (2021: $1.71 million), reflect primarily (i) costs incurred for professional, legal and advisory fees, administration & office expenditures, wages and salaries, and investor relations activities (in aggregate, $0.58 million, compared to $0.71 million for the same period in 2021), and (ii) exploration and evaluation of the Company's exploration property interests ($0.28 million), net of the accounting for certain forfeited stock option (\"Options\") and restricted share units (\"RSUs\"), which resulted in a non-cash recovery against the stock-based compensation expense for the period. Losses for the current period are lower than those of the prior period reflecting, in part, the timing of exploration activities at Green Springs, and the overall reduction of legal and advisory fees, and administration & office expenditu...