SCOTTSDALE, AZ, Aug. 13, 2014 /CNW Telbec/ - Chaparral Gold Corp.
("Chaparral" or the "Company") (TSX: CHL) announces that it has filed
its unaudited condensed consolidated interim financial statements for
the three and six month periods ended June 30, 2014, together with the
management's discussion and analysis of operations for the same period.
This information has been filed on SEDAR and is also available on the
Company's website or by contacting Chaparral directly. All currency is
reported in US dollars.
Items of significance for Chaparral for the second fiscal quarter ended
June 30, 2014 include the following:
considered a number of strategic alternatives in order to enhance
shareholder value in response to the hostile bid launched by Waterton
Precious Metals Fund II Cayman LP ("Waterton") on February 19, 2014
(the "Hostile Bid") and Waterton's revised hostile bid announced on
July 17, 2014, which revised hostile bid expired on July 31, 2014;
continued to timely advance the permitting and other activities related
to the ongoing development of the Gemfield project located at the
Goldfield property in Nevada;
held cash and equivalents of $39.6 million and working capital of $52.2
million at June 30,2014;
reported total assets of $143.2 million, with no long-term debt;
incurred a net and comprehensive loss after tax for the current quarter
of $0.55 million (a loss of $0.00 per share), of which $0.1 million
was directly attributable to the Hostile Bid; and.
incurred a net and comprehensive loss after tax for the six months ended
June 30, 2014 of $2.8 million (a loss of $0.02 per share), of which
$1.0 million was directly attributable to the Hostile Bid.
About Chaparral Gold
Chaparral is a Nevada-focused precious metals company actively
permitting the 100%-owned Gemfield deposit at the Goldfield property in
central Nevada. In addition to the Goldfield property, Chaparral holds
a 100% interest in the Converse property, also located in Nevada.
Some of the statements contained in this release are "forward-looking
statements" within the meaning of Canadian securities law requirements.
Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause our actual results,
performance or achievements to differ materially from the anticipated
results, performance or achievements expressed or implied by such
forward-looking statements. Forward-looking statements in this release
may include estimates of the reported financial results, which by
necessity contain certain material assumptions and estimates regarding
costs, the carrying-value of its material assets, and the permitting
process for the Gemfield project. Factors that could cause actual
results to differ materially from anticipated results include risks and
uncertainties such as: risks relating to estimates of the quantities of
gold and silver reported in mineral resource estimates, the timeframe
and degree of difficulty encountered in obtaining the necessary permits
at Gemfield, other risks relating to obtaining mining and environmental
permits for its developmental assets, existing and future prices of
gold that adversely effects the economic viability of mineral
resources, and unforeseen political and regulatory risks. The Company
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
SOURCE: Chaparral Gold Corp
For further information:
In North America:
Tel: 1 480 483 9932
Renmark Financial Communications
Tel: 1 514 939 3989
Tel: +41 44 853 00 47
Or email the Company at: firstname.lastname@example.org
Web Site: www.chaparralgold.com