21:17:15 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Marret Resource Corp
Symbol MAR
Shares Issued 17,702,767
Close 2015-07-24 C$ 4.03
Market Cap C$ 71,342,151
Recent Sedar Documents

Marret Resource earns $1.2-million in Q2 2015

2015-07-27 20:33 ET - News Release

An anonymous director reports

MARRET RESOURCE CORP. RELEASES Q2 2015 FINANCIAL STATEMENTS

Marret Resource Corp. has reported a total comprehensive income for the six months ended June 30, 2015, of $3.9-million or 22 cents per share, compared with an income of $3.1-million or 16 cents per share for 2014. For the three months then ended, comprehensive income was $1.2-million or seven cents per share (2014: loss of $200,000 or one cent per share). As of June 30, 2015, the company had total assets of $89.6-million, liabilities of $5.9-million, shareholders' equity of $83.8-million and a net asset value per share of $4.73 (including a value of 50 cents per share attributable to the company's interest in Cline Mining Corp.).

The company's shareholders approved an amendment to its articles to redeem common shares and return capital to shareholders. The amendment permits the company to redeem common shares in July, 2015, with a valuation date of June 30, 2015, and in October, 2015, with a valuation date of Sept. 30, 2015. For each redemption, the company will redeem common shares on a pro rata basis, and immediately following each redemption, the common shares which remain outstanding following such redemption will be automatically split on a basis such that the number of common shares outstanding after such stock split is equal to the number of common shares outstanding immediately preceding such redemption. As previously announced, the first redemption will have the effect of distributing $44,952,591 in aggregate or $2.5393 per common share on July 31, 2015. The financial statements, along with management's discussion and analysis, can be found on SEDAR or on Marret's website.

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