Chase Resource Corporation Consolidated Financial Report
for Third Quarter
VANCOUVER, BRITISH COLUMBIA--Mr. Michael Callahan, Chief Financial
Officer of the Company reports:
The Consolidated Quarterly Report for Chase Resource Corporation
covering the period from December 1, 1996 to September 30, 1997 is
available from the office of the Company upon request to telephone
604/685-6851. Following resumption of regular mail service by
Canada Post, the quarterly report will be delivered by regular
mail to each shareholder of the Company whose name and address is
on the supplemental list established for this purpose. In
addition, interested members of the public are advised that the
quarterly report is also available on the SEDAR Web Site at:
sedar.com and on the Company's Web Site at:
chaseresource.com.
At September 30, 1997, the Company's working capital position
stood at $774,995. The principal assets of the Company consist of
mineral properties and deferred exploration expenditures of
$30,705,099. The accumulated deficit of the Company was
$9,918,703 and issued and outstanding shares stood at 23,248,931.
During the 10 months from December 1, 1996, the consolidated loss
from operations amounted to $1,018,226. The only share capital
issued for the year to date consists of 6,772,459 shares valued at
$7,999,726 issued in conjunction with the amalgamation with Delta
Gold Mining Corporation. Significant investing activities
recorded for the period are $5,690,575 for Mineral Properties and
$7,187,424 for Deferred Exploration Expenditures (of which
$1,526,544 and $6,138,164 respectively, arise from the Delta
amalgamation).
Acquisition of, and exploration on, the Cikondang Gold Project in
West Java, Indonesia were the most significant property
expenditures after accounting for the Delta transaction.
Exploration at Cikondang and various of the Company's projects in
the Philippines was ongoing through the period. |
