MET:TSX
TORONTO, Aug. 13 /CNW/ - Although new accounting guidelines have required the Company to write off, accrue debt and expense more entries, slightly higher Natural Gas prices have enabled Metalore Resources Limited to improve its First Quarter Net Earnings to 10 cents per share compared to 8 cents per share for the corresponding previous Fiscal Period.
The Company continues to strengthen its Financial Position. With a portfolio of high yielding marketable securities at an all time high and current liabilities at a several year low, Metalore's Current Ration (assests/liabilities) has been improved from 3.0 to 1 to 3.6 to 1.
Complete Financial Statements and Management's Discussion and Analysis (MD&A) may be viewed on the SEDAR website after August 14/08.