Business
Golden Goose Resources reports its financial results for the second quarter of 2008
- Measured and indicated resources of 2,038,000 tonnes grading 1.06% Ni, 0.55% Cu, 0.07% Co, 1.03...
About this update from Golden Goose Resources Corp.
[{"type":"text","content":"\n\n\n\n- Measured and indicated resources of 2,038,000 tonnes grading 1.06% Ni,\n 0.55% Cu, 0.07% Co, 1.03 g/t Pd and 0.23 g/t Pt at Lac Levac\n- An additional 717,227 ounces of gold at the Magino\n- Net loss of $364,858 or $0.01 per share. down from $477,442 or $0.02\n per share last year\n\n\nMONTREAL, Aug. 26 /CNW Telbec/ - Golden Goose Resources Inc. (TSX-V: GGR)\n(the "Company") is pleased to report its results for the second quarter and\nsix months ended June 30, 2008.\n\n\nQ2 Exploration Highlights\n\n\nDuring the second quarter of 2008, Golden Goose filed two 43-101 resource\nestimates, one for each of the two properties on which it is currently\nconducting exploration. On May 7, 2008, the Company reported that measured and\nindicated resources at its Lac Levac (nickel-copper-PGM) property in Quebec\nare now estimated at 2,038,000 tonnes grading 1.06% Ni, 0.55% Cu, 0.07% Co,\n1.03 g/t Pd and 0.23 g/t Pt, with an additional 1,053,000 tonnes in the\ninferred category grading 0.81% Ni, 0.32% Cu, 0.06% Co, 1.06 g/t Pd and\n0.50 g/t Pt. On May 29, 2008, the Company released the resource estimate for\nthe Magino Mine property in Ontario, which shows an inferred resource of\n717,227 ounces of gold in resources grading an average of 5.94 g/t from the\n200-metre level to a depth of 600 metres. This resource is is based solely on\ndrilling carried on the property since early 2006, and is in addition to the\nresource of 544,080 ounces between surface and 200 metres reported by Snowdon\nin 2004.\n\n\nQ2 Financial Results\n\n\nFor the second quarter ended June 30, 2008, the Company reported a net\nloss of $364,858 ($0.01 per share) compared with a net loss of $477,442 ($0.02\nper share) for the same quarter of 2007. The lower net loss is mainly\nattributable to a reduction in stock-based compensation from $392,825 in 2007\nto $27,442 this year due to the fair value of options granted in the second\nquarter of 2007. General and administrative expenses amounted to $349,328,\nrelatively unchanged from $341,898 last year. Interest revenue declined from\n$40,449 in the second quarter of 2007 to $23,196 this year due to a lower\nshort-term investment in the quarter of 2008.\n\n\nFor the six months ended June 30, 2008, the Company reported a net income\nof $536,507 compared to a net loss of $687,187 in 2007. The net income for th...