Business
Amazon Reports Q1 2008 Results
TORONTO, June 2 /CNW Telbec/ - Amazon Mining Holding Plc (TSX-Venture: AMZ) ("Amazon" or the "Com...
About this update from Verde Agritech Ltd
[{"type":"text","content":"\n\n\n\nTORONTO, June 2 /CNW Telbec/ - Amazon Mining Holding Plc\n(TSX-Venture: AMZ) ("Amazon" or the "Company") today announced its unaudited\ninterim consolidated financial statements for the three-month period ended\nMarch 31, 2008.\n\n\nFor the three-month period ended March 31, 2008 the net loss increased to\n(pnds stlg)460,707 from a loss of (pnds stlg)86,269 compared to the\nthree-month period ended April 30, 2007. The loss widened in Q1 2008 due to\nthe commencement of active exploration activities late in December 2007.\n\n\nOverview of the first three months of 2008:\n\n\n- Completed first phase of a diamond drilling program on the Tocantins\n concession\n- Commenced first phase of a diamond drilling program on the Lavras\n concession\n- Exploration expenditures conducted throughout Q1 2008 on the Company's\n gold projects aggregated to (pnds stlg)442,070\n- Oscar Yokoi was appointed Vice President Exploration in February 2008\n- Administrative expenses increased quarter over quarter due to increased\n salaries and office set-up costs associated with ramping exploration\n activities in the Brazilian subsidiaries\n- The Company ended the period with a working capital position of\n (pnds stlg)6,091,485\n\n\nAbout Amazon\n\n\nAmazon is listed on the TSX Venture exchange and is a mineral exploration\ncompany engaged in acquiring and developing gold exploration properties in\nBrazil. Its strategic focus is to acquire projects with demonstrated potential\nfor hosting gold deposits and to define resources through exploration and\ndrilling campaigns.\n\n\nOn behalf of the Board of Directors of Amazon Mining Holding Plc,\n\n\nCristiano Veloso, President & Chief Executive Officer\n\n\nTHE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY\nOR ACCURACY OF THIS RELEASE AND THE INFORMATION CONTAINED HEREIN. THIS PRESS\nRELEASE CONTAINS CERTAIN "FORWARD LOOKING STATEMENTS", WHICH INCLUDE BUT IS\nNOT LIMITED TO, STATEMENTS WITH RESPECT TO THE FUTURE FINANCIAL OR OPERATING\nPERFORMANCE OF THE COMPANY, ITS SUBSIDIARIES AND ITS PROJECTS, STATEMENTS\nREGARDING USE OF PROCEEDS, EXPLORATION PROSPECTS, IDENTIFICATION OF MINERAL\nRESERVES, COSTS OF AND CAPITAL FOR EXPLORATION PROJECTS, EXPLORATION\nEXPENDITURES, TIMING OF FUTURE EXPLORATION AND PERMITTING, REQUIREMENTS FOR\nADDITIONAL CAPIT...