Business
Golden Goose Resources Inc. reports its 2009 second quarter results
MONTREAL, Aug. 27 /CNW Telbec/ - Golden Goose Resources Inc. (TSX-V: GGR) (the "Company") is plea...
About this update from Golden Goose Resources Corp.
[{"type":"text","content":"\n\n\n\nMONTREAL, Aug. 27 /CNW Telbec/ - Golden Goose Resources Inc. (TSX-V: GGR)\n(the "Company") is pleased to report its unaudited interim financial\nstatements for the second quarter ended June 30, 2009 with comparative figures\nfor 2008.\n\n\nFinancial highlights for the second quarter and six-month period.\n\n\nFor the second quarter ended June 30, 2009, the Company reported a net\nloss of $421,040 ($0.01 per share) compared with a net loss of $364,858 ($0.01\nper share) for the same quarter of 2008.\n\n\nFor the six-month period ended June 30, 2009, the Company reported a net\nloss of $616,600 ($0.01 per share) compared with a net income of $536,507 (net\nincome of $0.01) for the same period in 2008. The net income realized during\nthe six-month period last year, is mainly attributable to income tax recovery\nof $1,285,387 as a result of renunciation by the Company to tax deductions\ntotalling $4,532,083, which was raised through the issuance of flow-through\nshares in 2006 and 2007, in favour of the investors.\n\n\nExploration highlights\n\n\nGolden Goose continued to make progress on its two active exploration\nproperties Magino and Lac Levac. Given the advanced nature of Magino, the\nfavourable gold environment and the capital requirements for the next phases\nof exploration, the Company has chosen to prioritize its efforts there.\n\n\nOn August 12th, 2009, the Company granted Exploration Nemaska Inc.\n('Nemaska') an option to purchase its Lac Levac property. The option was\ngranted for a non-refundable consideration of $150,000 paid in cash and\nexpires on December 31, 2009. Should the option be exercised the Company will\nreceive $2,000,000 in cash plus other considerations.\n\n\nOn July 21st, 2009 the Company announced the sale of its Montauban\nproperty in province of Quebec. The company will use the proceeds from the\nsale to focus its efforts on the Magino project.\n\n\nAs of August 26, 2009, after giving effect to the sale of the Montauban\nproperty and of the option on the Lac Levac property, the Company holds\napproximately $1,005,000 in cash and short-term investments and $230,000 as\nsecurity deposit for mine closure.\n\n\nABOUT GOLDEN GOOSE RESOURCES\n\n\nGolden Goose Resources Inc. is a Canadian public company listed on the\nTSX Venture Exchange under the symbol GGR. The Company is principally en...