In New Dawn Mining Corp. (TSX: ND) latest press release dated February 16, 2010, the Company is claiming record revenue and record profit for the quarter ended December 31, 2009. Remember New Dawn is an AGORACOM Client, and as such assume I am horribly conflicted.
Having said that I invite you to read their latest press release:
Q1 Fiscal 2010 – Quarter Ended December 31, 2009 Financial Highlights
(All amounts are in US dollars)
- Net income of $927,494 or $0.03 per share for the quarter ended December 31, 2009, as compared to net income of $640,250 or $0.02 per share for the quarter ended September 30, 2009, a 45% increase
- $3,969,038 in revenue from gold sales for the quarter ended December 31, 2009, as compared to $2,779,692 of revenue from gold sales for the quarter ended September 30, 2009, a 43% increase
- 3,604 ounces of gold sold during the quarter ended December 31, 2009 at an average sale price of $1,101Â per ounce, as compared to 2,907 ounces of gold sold during the quarter ended September 30, 2009 at an average sale price of $956 per ounce
- Sale of Reserve Bank of Zimbabwe bonds to a private financial institution during the quarter ended December 31, 2009 for US$2,237,949
- $4,506,446 of cash at December 31, 2009, as compared to $2,740,117 of cash at September 30, 2009, a 64% increase
- $6,879,897 in working capital at December 31, 2009, as compared to $6,587,105 of working capital at September 30, 2009
- Cash cost per ounce of gold produced of $58o during the quarter ended December 31, 2009 (cash cost is a non-GAAP measure)
- Adjusted EBITDA of $1,439,065 for the quarter ended December 31, 2009, as compared to Adjusted EBITDA of $662,830 for the quarter ended September 30, 2009 (Adjusted EBITDA is a non-GAAP measure)
February 16, 2010 – New Dawn Mining Corp. Reports Financial Results For the Quarter Ended December 31, 2009