Business
WESCAN GOLDFIELDS INC. ANNOUNCES THIRD QUARTER RESULTS
WESCAN GOLDFIELDS INC. ANNOUNCES THIRD QUARTER RESULTS
About this update from Wescan Goldfields Inc.
[{"type":"text","content":"\n\n\n\n Nov. 29, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nStock Symbol: WGF: TSX-V\n\n\nSASKATOON, Nov. 29 /CNW/ - Wescan Goldfields Inc. ("Wescan" or the\n "Company") reports the unaudited results of Wescan's operations for the\n quarter ended September 30, 2010 have been filed and may be viewed at www.sedar.com. \n\n\nOverview\n\n\nThe Company has been focused on cost reduction as well as the raising of\n additional funds to allow the Company to proceed with certain\n exploration programs.  Subsequent to the quarter the Company was\n successful in securing an additional $300,000 in financing (see Wescan\n News Release dated October 29, 2010).\n\n\nResults of Operations \n\n\nFor the quarter ended September 30, 2010, the Company recorded a net\n loss of $106,449 ($0.00 per share) compared to a net loss of $131,846\n ($0.00 per share) for the same period in 2009.  For the nine-month\n period ended September 30, 2010, the Company recorded a net loss of\n $598,028 ($0.01 per share) compared to a net loss of $502,405 ($0.01\n per share) for the same period in 2009.  The difference from 2010 to\n 2009 is primarily the result of future income tax recoveries recorded\n during 2009.\n\n\nSelected financial highlights include:\n\n\n\n\nConsolidated Balance Sheets\n\n\nAs at \nSeptember 30, \n2010\n\n\nAs at\nDecember 31,\n 2009\n\n\n\n\nCurrent assets\n\n\n$      126,222\n\n\n$      416,799\n\n...