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Hunt Mining Reports US $1.65 Million First Ever Net Income With Filing of 2017 Year End Financials
LIBERTY LAKE, Wash., April 17, 2018 (GLOBE NEWSWIRE) -- Hunt Mining Corp. ("Hunt" or the "Corporation") (TSXV:HMX) (OTC:HMXZF) is pleased to announce the filing
About this update from Patagonia Gold Corp
[{"type":"text","content":" LIBERTY LAKE, Wash., April 17, 2018 (GLOBE NEWSWIRE) -- Hunt Mining Corp. (\"Hunt\" or the \"Corporation\") (TSXV:HMX) (OTC:HMXZF) is pleased to announce the filing of its year-end financial results (“Financials”) for the period ending December 31, 2017. The Corporation files its Financials in accordance with US Generally Accepted Accounting Principles (“GAAP”) on Form 10-K with the SEC and on SEDAR subsequently. In its Year End 2017 Consolidated Financial Statements, Hunt Mining Corp. declared a Net Income of $1,655,914 in the Corporation’s first year producing income from its operations in Argentina. “We feel we have turned the corner. Generating income is now our principal objective, so we will continue to explore, develop and mine our significant property package with that focus”, stated Executive Chairman/CEO, Tim Hunt. Final Results for the Year Ended 31 December 2017 Hunt Mining Corp. is a mineral exploration and processing company incorporated on January 10, 2006 under the laws of Alberta, Canada and, together with its subsidiaries, is engaged in the exploration of mineral properties in Santa Cruz Province, Argentina. The Corporation remains focused on evaluating its mining properties in Argentina, with near term prospects of mining the La Josefina gold property and the continuation of production of silver-gold concentrate from the Mina Martha property. The Corporation is also reviewing strategic opportunities, focusing primarily on development and operating properties. The Corporation's presentation currency is the US Dollar. Financial Highlights During the year ended December 31, 2017, the major source of funding was from sales of silver-gold concentrate exceeding $9.2 million. For the year ended December 31, 2017 the Corporation generated a net income of $1,655,914, or $0.03 per basic share, compared to a net loss of $3,109,074 or $0.05 per basic share, for the year ended December 31, 2016. Working capital increase from 2016 to 2017 by $2,860,011 The total assets increased by $2,460,200 primarily due to the continued restoration of the Mina Martha plant The total shareholder’s equity increased from 2016 to 2017 by $1,777,057 due to the net income less adjustments for other comprehensive income, and for stock options granted during 2017. December 31, 2017 December 31, 2016 &...