18:27:31 EDT Wed 24 Apr 2024
Enter Symbol
or Name
USA
CA



Westcore Energy Ltd
Symbol WTR
Shares Issued 35,468,446
Close 2014-04-08 C$ 0.025
Market Cap C$ 886,711
Recent Sedar Documents

Westcore talks $7.1-million write-off, no P&L in NR

2014-04-20 21:31 ET - News Release

Mr. Shane Shircliff reports

WESTCORE ANNOUNCES FILING OF FINANCIAL STATEMENTS AND COAL ASSET WRITEDOWN

Westcore Energy Ltd. has filed its annual audited financial statements as at and for the year ended Dec. 31, 2013. In connection with such statements, the company determined that as of Dec. 31, 2013, there were indicators of impairment for its coal exploration and evaluation assets. The indicators of impairment result from the current lack of investor interest in coal companies, downturn in the mining industry in particular and the company's decision to significantly reduce future exploration expenditures until equity market conditions improve. As a result, the company has recorded an impairment write-off of $7,125,490. After giving effect to this write-off, the company's coal assets have been valued at $1,985,676 as at Dec. 31, 2013.

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