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Pasinex Resources Announces Second Quarter 2023 Financial Results
TORONTO, Aug. 29, 2023 (GLOBE NEWSWIRE) -- Pasinex Resources Limited (CSE: PSE) (FSE: PNX) (The “Company” or “Pasinex”) is pleased to provide a company update.
About this update from Pasinex Resources Ltd.
[{"type":"text","content":" TORONTO, Aug. 29, 2023 (GLOBE NEWSWIRE) -- Pasinex Resources Limited (CSE: PSE) (FSE: PNX) (The “Company” or “Pasinex”) is pleased to provide a company update. Cautionary Note The Company has not completed a current technical report that includes a mineral resource estimate as defined by the Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council, and procedures for classifying the reported Mineral Resources were undertaken within the context of the Canadian Securities Administrators National Instrument 43-101 (NI 43-101). The Company has no intention of completing a NI 43-101 compliant technical report. The Joint Venture has not followed accepted quality assurance and quality control procedures with respect to its current drilling program and has not used an independent third-party laboratory for its assay analysis. The Joint Venture uses field handheld X-ray fluorescence analysers (“XRF”) for zinc assays and grade control in exploration and mining. In addition, assays are completed by an independent third-party laboratory for all of the Joint Venture’s sales. Highlights – Second Quarter Ended June 30, 2023 Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Financial: Equity gain from Horzum AS $ 821,044 $ - $ 1,596,806 $ - Dividend income from Horzum AS $ 779,128 $ - $ 779,128 $ 4,072,320 Consolidated net income (loss) $ 1,107,117 $ (890,345 ) $ 911,534 $ 2,743,999 Basic and diluted net income (loss) per share $ 0.01 $ (0.01 ) $ 0.01 $ 0.02 Net cash (used in) provided by operating activities $ (48,669 ) $ 1,313,517 $ 171,817 $ 2,083,338 Weighted average shares outstanding 144,554,371 144,554,371 144,554,371 144,554,371 &nb...