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Quaterra Announces 2018 Year-End Financial Results
Vancouver, British Columbia--(Newsfile Corp. - April 3, 2019) - Quaterra Resources Inc. (TSXV...
About this update from Lion Copper And Gold Corp
[{"type":"text","content":"Quaterra Announces 2018 Year-End Financial ResultsProvides Insight into Corporate Strategy and OutlookVancouver, British Columbia--(Newsfile Corp. - April 3, 2019) - Quaterra Resources Inc. (TSXV: QTA) (OTCQB: QTRRF) today says it has recently shifted focus to look for more innovative methods of financing exploration that do not dilute shareholders' interests in the Company. This approach, and other aspects of the Company's corporate strategy and outlook, are outlined in the Management's Discussion and Analysis (\"MD&A\") released today together with the financial statements for the year ended December 31, 2018.In its 2018 MD&A, the Company says that the resource market has lately improved somewhat, especially for base metals, and copper in particular. \"However, given the ongoing scarcity of funds available to finance mineral exploration, over the past year the Company has raised modest amounts of capital (with the goal of minimizing shareholder dilution), through the limited use of convertible debentures and a small private placement. Work on the Company's properties in 2018 was consequently constrained by a lack of funds.\"More recently, the Company says, Quaterra has shifted focus to look for more innovative methods of financing exploration that do not dilute shareholders' interest in the Company. The recent sale of certain primary ground water rights by Quaterra's Yerington, Nevada-based subsidiary, Singatse Peak Services LLC (\"SPS\"), for $6.02 million is an outcome of that strategy. \"In addition to providing non-dilutive funds for ongoing exploration, the price achieved in the recent sale has the added advantage of placing a value of about $20 million on the Company's remaining primary ground water rights, which should go some way to placing a floor under the Company's market capitalization,\" the Company says in the MD&A. SPS retains about 6,700 acre-feet per year of primary ground water permitted for mining and milling at its 51-square-mile Yerington property. In addition, SPS also has substantial decree, supplemental and storage water rights associated with private land that it has under option.The Company has focused on initiating a prefeasibility study at the MacArthur open-pit, copper oxide deposit located in the north of its Yerington property. This decision has been driven by an independent review of...