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Denarius Metals Announces Fourth Quarter and Fiscal Year 2022 Results and Fiscal Year 2023 Outlook
Toronto, Ontario--(Newsfile Corp. - April 21, 2023) - Denarius Metals Corp. (TSXV: DSLV) (OTCQB: DNRSF) ("Denarius" or "the Company") announced today that it ha
About this update from Denarius Metals Corp.
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - April 21, 2023) - Denarius Metals Corp. (TSXV: DSLV) (OTCQB: DNRSF) (\"Denarius\" or \"the Company\") announced today that it has filed its audited consolidated financial statements, management's discussion and analysis (MD&A) and Annual Information Form (AIF) for the year ended December 31, 2022. These documents can be found on the Company's 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. Denarius Metals is fully funded to advance its exploration programs in 2023. As at December 31, 2022, the Company had a cash position of $1.4 million and through the recently completed Rights Offering and Private Placement, the Company has raised additional total gross proceeds of CA$15.7 million that will be used to continue its exploration drilling campaign, metallurgical testing and other technical work at its flagship Lomero Project in the Iberian Pyrite Belt in Southern Spain, to meet its obligations under the Toral Definitive Agreement executed in November 2022 with Europa Metals Ltd. (\"Europa\") related to the Toral Project in Northern Spain and for working capital and general corporate purposes. Denarius Metals reported a net loss for the fourth quarter of 2022 of $5.1 million ($0.25 per share), including a $4.3 million impairment charge related to the Guia Antigua Project, compared with a net loss of $2.1 million (0.10 per share) in the fourth quarter last year. For the full year, Denarius Metals reported a net loss in 2022 of $7.4 million ($0.36 per share), primarily associated with the Guia Antigua Project impairment charge and its public company general and administrative (\"G&A\") expenses. In 2021, the net loss of $25.4 million ($1.63 per share) included a $12.9 million charge related to the RTO Transaction, a $6.7 million loss on financial instruments related to its Subscription Receipts financing, G&A expenses of $3.1 million and $2.8 million of share-based compensation expense. Denarius Metals rationalized its Colombian assets in early 2023, choosing to focus on the Zancudo Project in the municipality of Titiribi, in the mining district of Antioquia, approximately 30 km southwest of Medellin. The Zancudo Project, which includes the historic prod...