TORONTO, Dec. 11 /CNW/ - Energentia Resources Inc. (TSX-V: ENR) announced
today results for the three- and nine-month periods ended October 31, 2007.
For the quarter, the Company reported a loss of $0.3 million or $0.00 per
share. For the nine months ended October 31, 2007 the Company reported a loss
of $4.5 million or $0.07 per share. The loss in the third quarter principally
reflects general and administrative costs of $0.4 million to support the
expanded exploration and public company activities following the acquisition
and financing completed earlier in the year. The year-to-date loss reflects
the impact in the first quarter of non-cash stock-based compensation expense
and one-time acquisition and interest costs. As at October 31, 2007, the
Company had cash and cash equivalents of $12.8 million.
On November 8, 2007, the Company announced positive results from the
regional stream sediment and rock sampling program it has been conducting on
its Zapatoca property. The Company expects to commence its initial drilling
program on this property in early 2008. Over the coming months, the Company
will complete a similar stream sediment and rock sampling approach to enable
commencement of drilling programs at the Berlin and Chima properties in early
2008 as well.
Complete Financial Statements and Management's Discussion and Analysis
are available on the Company's website at www.enruranium.com or on SEDAR at
Energentia is a uranium exploration and development company with
interests in a number of uranium exploration properties located in Colombia.
This press release contains forward-looking statements based on
assumptions, uncertainties and management's best estimates of future events.
Actual results may differ materially from those currently anticipated.
Investors are cautioned that such forward-looking statements involve risks and
uncertainties. Important factors that could cause actual results to differ
materially from those expressed or implied by such forward looking statements
are detailed from time to time in the company's periodic reports filed with
the British Columbia Securities Commission and other regulatory authorities.
The company has no intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
For further information:
For further information: Michael Davies, Chief Financial Officer, (416)