11:56:07 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



MGX Minerals Inc
Symbol XMG
Shares Issued 125,324,075
Close 2018-11-29 C$ 0.445
Market Cap C$ 55,769,213
Recent Sedar Documents

MGX Minerals loses $25.4-million in fiscal 2018

2018-11-29 11:32 ET - News Release

An anonymous director reports

MGX MINERALS ANNOUNCES FISCAL 2018 FINANCIAL RESULTS POSTS LOSS OF $0.27 PER SHARE versus $0.24 PER SHARE FISCAL 2017; TOTAL ASSETS INCREASE TO $38.5M AND TOTAL LIABILITIES INCREASE TO $3.3M

MGX Minerals Inc. has filed financial results and operating highlights for the fiscal year ended July 31, 2018. This press release should be read in conjunction with MGX's consolidated financial statements and management's discussion and analysis for the year ended July 31, 2018, which are available for download on the company's website and under the company's profile on SEDAR.

Assets, liabilities and shareholder's equity fiscal 2018

The company's total assets increased to $38.5-million at year-end 2018 versus $11.6-million at year-end 2017. Current assets increased to $8.9-million at year-end 2018 versus $3.7-million at year-end 2017, fixed assets increased to $29.2-million at year-end 2018 from $8.0-million at year-end 2017. Current liabilities increased to $3.2-million at year-end 2018 versus $1.2-million at year-end 2017. Total liabilities increased to $3.3-million at year-end 2018 versus $1.2-million at year-end 2017. Shareholder's equity rose to $34.7-million at year-end 2018 versus $10.4-million at year-end 2017.

Loss and comprehensive loss fiscal 2018

The company's loss and comprehensive loss for fiscal 2018 was $25.4-million versus $13.9-million for fiscal 2017. This resulted in a loss per share of 27 cents per share for fiscal 2018 versus 24 cents per share for fiscal 2017. The weighted number of shares outstanding basic and diluted was 94.1 million for fiscal 2018 versus 57.8 million for fiscal 2017.

About MGX Minerals Inc.

MGX Minerals is a diversified Canadian resource and technology company with interests in global advanced material, energy and water assets.

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