Here is some positive news, It looks like Etruscan has enough cash on hand to keep them in business, or build a mine.
ETRUSCAN RESOURCES INC. RELEASES 1997 RESULTS
DARTMOUTH, NOVA SCOTIA--
Etruscan Resources Inc. (EET.TSE) is pleased to announce its has released its
1997 Annual Report which includes audited financial results for year ending
November 30, 1997. The Company is in the development stage of its business
and has earned no revenue from its operations. At November 30, 1997 the
Company reported a balance of cash and cash equivalents of $22,551,346
compared to $2,824,454 as at November 30, 1996. Total assets including its
capital assets and resource properties were $81,801,267 as at November 1997
compared with $37,626,508 as at November 30, 1996.
Etruscan Resources Inc. is directly and through its subsidiaries involved in
the acquisition, exploration and development of mineral properties in West
Africa. The common shares of Etruscan are traded on The Toronto Stock
Exchange and the Vancouver Stock Exchange under the symbol "EET". Etruscan
is 5.6% (2,006,834 shares) beneficially owned by NovaGold Resources Inc.
which is listed on The Toronto Stock Exchange under the symbol "NRI" and
11.6% (4,175,275 shares) by Placer Dome Inc.
ON BEHALF OF THE BOARD OF DIRECTORS OF ETRUSCAN RESOURCES INC. |
