The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Constantine Metal Resources Ltd. Feb. 23 said it ended its fiscal year (Oct. 31) with C$587,481 in cash and working capital of C$470,841, compared with cash of C$181,557 and working capital of C$213,079 at the end of 2013.
This increase is a result of the company generating more than C$663,000 from option earn-in and management fees, while reducing cash operating costs to about C$460,000.
A record C$7.39 million was invested into Constantine's mineral exploration properties during 2014, including C$7.13 million of that spent on the Palmer project in Southeast Alaska.
Dowa Metals & Mining Co. Ltd., which has the option to earn 49 percent in Palmer by investing US$22 million in the project over four years, recently paid Constantine a US$250,000 option payment for 2015 and is planning the scope of this year's program.
Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.
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