Business
Denarius Metals Announces Fourth Quarter and Fiscal Year 2021 Results
TORONTO, May 02, 2022 (GLOBE NEWSWIRE) -- Denarius Metals Corp. (“Denarius” or “the Company”) (TSXV: DSLV; OTCQB: DNRSF) announced today that it has filed its a
About this update from Denarius Metals Corp.
[{"type":"text","content":" TORONTO, May 02, 2022 (GLOBE NEWSWIRE) -- Denarius Metals Corp. (“Denarius” or “the Company”) (TSXV: DSLV; OTCQB: DNRSF) announced today that it has filed its audited consolidated financial statements and accompanying management’s discussion and analysis (MD&A) for the year ended December 31, 2021. These documents can be found on its website at www.denariusmetals.com and by reviewing its profile on SEDAR at www.sedar.com. All financial figures contained herein are expressed in U.S. dollars unless otherwise noted. As at December 31, 2021, Denarius has a cash position of $14.8 million and no debt and is fully funded to carry out its current exploration programs at its Lomero Project in Spain and its Guia Antigua Project in Colombia. The Company currently has approximately 207.6 million common shares issued and outstanding, of which approximately 28.6% are held by GCM Mining Corp. and approximately 19% are held by King Street Capital. In addition, the Company currently has 75.8 million warrants issued and outstanding that trade on the TSX Venture Exchange (“TSXV”) under the symbol DSLV.WT and a total of 18.2 million stock options issued and outstanding. The Company reported a net loss for the fourth quarter of 2021 of $2,061,000, or $0.01 per share, compared with net loss of $53,000, equivalent to $106.00 per share, in the fourth quarter of 2020. The net loss in the fourth quarter of 2021 principally reflects a total of $1.6 million of general and administrative expenses, including $0.6 million contributed toward the development of an avocado farming operation in the European Community as part of the Company’s commitment to supporting green projects through its ESG initiatives, and $0.4 million of share-based compensation expense associated with stock options granted in the fourth quarter. For the 2021 fiscal year, the Company reported a net loss of $25,447,000, or $0.16, per share, compared with net loss of $85,000, equivalent to $170.00 per share, in 2020. Denarius was formed through a reverse take over transaction (“RTO Transaction”) in February 2021 and commenced trading on the TSXV under the symbol “DSLV” in March 2021. The largest items included in the net loss in 2021 were the $12.9 million one-time charge related to the RTO Transaction, a $6.7 million loss on financial instruments associated with the Subscription Recei...