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GREAT WESTERN MINERALS GROUP RELEASES 1st QUARTER 2011 FINANCIAL RESULTS
GREAT WESTERN MINERALS GROUP RELEASES 1st QUARTER 2011 FINANCIAL RESULTS.
About this update from Great Western Minerals Group Ltd
[{"type":"text","content":"GREAT WESTERN MINERALS GROUP LTD. TSX Venture Symbol: GWG CUSIP: 39141Y 10 3OTCQX: GWMGF GREAT WESTERN MINERALS GROUP RELEASES 1st QUARTER 2011 FINANCIAL RESULTS June 30, 2011 - Saskatoon, Canada: Great Western Minerals Group Ltd. (\"GWMG\" or the \"Company\", TSX:V – GWG) today announced its financial results for the 1st Quarter of 2011. GWMG has reported its results under International Financial Reporting Standards. For the three months ended March 31, 2011, GWMG’s financial summary and highlights are as follows: Three months ended March 31/11Three months ended March 31/10Revenue $ 4,236,890 $ 3,886,651 Gross Margins $ 1,295,377 $ 1,255,386 Earnings (Loss) $ (3,229,428) $ (705,662)Earnings (Loss) per share $ (0.009) $ (0.003) · Manufacturing / processing revenues from GWMG’s wholly owned subsidiaries Less Common Metals Limited (“LCM”) and Great Western Technologies Inc. represent a 9.0% increase over the first quarter of 2010.· Gross margins on manufacturing / processing operations represent a 3.2% increase over the same period of 2010.· The net consolidated loss for the first quarter of 2011 of $3.2 million ($.009/share on a fully diluted basis) includes stock based compen...