Business
Metalore Resources Limited declares dividend and quarterly report
TORONTO, Nov. 12 /CNW/ - Metalore Resources Limited reports in its latest Quarterly (as of Sept 3...
About this update from Metalore Resources Limited
[{"type":"text","content":"\n\n\n\nTORONTO, Nov. 12 /CNW/ - Metalore Resources Limited reports in its latest\nQuarterly (as of Sept 30/08) that Net earnings for the first six months of the\ncurrent Fiscal Year (2009) were 15 cents per share compared to 14 cents per\nshare for the corresponding period of the last Fiscal Year. Previously\nnegotiated Forward Sales Contracts, above $10 (USD) per Mmbtu, covering\napproximately two-thirds of its Natural Gas Production for the remaining six\nmonths of the Fiscal Year, should have a further positive effect on year end\nresults.\n\n\nThe MD&A, accompanying the Financials, states that, "The Company had\nplanned to increase the Dividend this December; however, as a measure of\nfiscal restraint (in light of current continental and global economic\nconditions), the Directors voted to limit the dividend to 7 cents per share\nthis year, Payable on December 15/08, to Shareholders of Record on November\n28th."\n\n\nThe Company has sufficient Cash Flow to adequately complete its ongoing\nexploration and development programs for both Gold and Natural Gas. "Our ship\nis amply seaworthy to weather and safely navigate through the current and\nimpending economic storm", stated George Chilian, President of Metalore.\n\n\n","length":1301,"tagName":"div"}]