Business
Augen announces Q3 2006 results, Increases stake in Aumerco to 100%
Augen announces Q3 2006 results, Increases stake in Aumerco to 100%.
About this update from Gensource Potash Corp.
[{"type":"text","content":"\n\n\n\n32,400,614 shares outstanding\n\n\nTORONTO, Dec. 4 /CNW/ - Augen Capital Corp. (the \"Company\" or \"Augen\")\n(TSX-V: AUG) is pleased to announce consolidated financial results for the\nthird quarter ending September 30, 2006.\n\n\n- Consolidated income rose to $0.7 million for the quarter\n (YTD $4.0 million) from $0.6 million for the same quarter last year\n (PYTD $1.3 million).\n- Consolidated expenses were $0.7 million for the quarter\n (YTD $2.4 million) from $0.4 million last year (PYTD $1.1 million).\n- Consolidated earnings before non-cash charges were $0.1 million for\n the quarter (YTD $1.5 million) as compared to $0.2 million last year\n (PYTD $0.2 million).\n- Cash flow from operations amounted to $1.0 million for the quarter as\n compared to $0.2 million last year.\n- Consolidated net assets at September 30, 2006 increased 60% to\n $5.9 million compared to $3.7 million last year.\n\n\nManaged Products advisory and performance fee income for the quarter were\n$0.3 million ($1.8 million YTD) as compared to $0.4 million for the same\nquarter in 2005 (PYTD $0.3 million), the YTD amount reflecting the significant\nincrease in assets under administration and performance fees.\n\n\nMerchant Banking realized gains on the sale of investments were\n$0.2 million for the quarter ($1.7 million YTD) as compared to $0.1 million\nfor the same quarter in 2005 ($0.4 million in PYTD gains), the YTD amount\nreflecting good resource deal flow and active trading of the investment\nportfolio in a strong resource market.\n\n\nManaged Products and Merchant Banking expenses, prior to reimbursed\nlimited partnership product setup expenses included in the top line income and\none-time charges, amounted to $0.3 million for the current quarter, consistent\nwith previously reported quarters during the current fiscal year.\n\n\nThe Company's merchant banking portfolio is reported at cost on the\nfinancial statements. The market value of the portfolio is $5.9 million at\nSeptember 30, 2006 as compared to $2.2 million at December 31, 2005. The\nCompany's total net assets at market value have substantially appreciated to\n$9.5 million as at September 30, 2006 as compared to $4.0 million at\nDecember 31, 2005. The Company continues to be one of the largest shareholders\nin Energy Fuels Inc., Polar Bear Explorations Inc., Augen Gold Corp., and...