Golden Knight announces 1996 second quarter results.VANCOUVER Vancouver, city, Canada Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. , B.C.--(BUSINESS WIRE)--Aug. 22, 1996--Golden Knight Resources Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :GKRVF)(TSE/ME/VSE:GKR GKR Go Kan Ryu (International Karate Club) GKR Gesamtkapitalrendite (German: Return on Assets) GKR Government of Khmer Republic GKR Graphics Kernel Routine ) announced a net loss for the second quarter ended June June: see month. 30, 1996, of $1,184,000 ($0.07 per share), compared to a net loss of $626,000 ($0.05 per share) in the second quarter of 1995. The net loss for the six month period ended June 30 was $2,630,000 ($0.17 per share), compared to a net loss of $1,119,000 ($0.09 per share) in the first half of 1995. Revenues for the second quarter of 1996 were $3,224,000 compared to $3,343,000 in the 1995 period. Revenues for the first half of 1996 were $8,375,000, compared to $7,072,000 in the 1995 period. Working capital at June 30, 1996, was $12,985,000. Production at the company's 40 percent-owned Casa Berardi gold mine in Quebec Quebec, city, Canada Quebec, Fr. Québec, city (1991 pop. 167,517), provincial capital, S Que., Canada, at the confluence of the St. Lawrence and St. Charles rivers. was impaired by a five-week strike of unionized workers in the second quarter. The company's strategy for growth in West Africa West Africa A region of western Africa between the Sahara Desert and the Gulf of Guinea. It was largely controlled by colonial powers until the 20th century. West African adj. & n. led to higher exploration and administration costs, and an increased loss compared to the 1995 period. Golden Knight's share of gold production for the second quarter was 5,979 ounces, compared to 5,726 ounces in the 1995 period. The realized price for gold was US $387 per ounce ounce, in zoology ounce, in zoology: see leopard. ounce, unit of measurement ounce: see English units of measurement. compared to US $388 per ounce in the second quarter of 1995. Cash operating costs operating costs npl → gastos mpl operacionales in the second quarter of 1996 were US $342 per ounce compared to US $455 in the second quarter of 1995. For the first half of 1996, the company's share of gold production was 14,474 ounces, compared to 12,074 ounces in the 1995 period. On Aug. 19, 1996, the company raised its interest in Gold Fields Gold Fields Limited is one of the world’s largest unhedged producers of gold, providing investors with maximum leverage to the gold price. The company was formed in 1998 with the amalgamation of the gold assets of Gold Fields of South Africa Limited and Gencor Limited. Ghana Ghana, country, Africa Ghana, officially Republic of Ghana, republic (2005 est. pop. 21,030,000), 92,099 sq mi (238,536 sq km), W Africa, on the Gulf of Guinea, an arm of the Atlantic Ocean. The capital and largest city is Accra. Limited to 17.5 percent from 5 percent, subject to financing and regulatory reg·u·late tr.v. reg·u·lat·ed, reg·u·lat·ing, reg·u·lates 1. To control or direct according to rule, principle, or law. 2. approvals. Gold Fields Ghana holds the rights to the Tarkwa Concession CONCESSION. A grant. This word is frequently used in this sense when applied to grants made by the French and Spanish governments in Louisiana. where 13 million ounces of gold have been outlined through drilling since July July: see month. 1993. The acquisition is valued at US $47 million, plus future consideration for additional gold reserves and resources, or approximately US $29 per ounce of gold, substantially less than the market value of gold resources elsewhere in West Africa or South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. . Golden Knight's gold exploration programs in West Africa, in particular the Manso Nkwanta Manso Nkwanta is a town in Ghana. It is the capital of Amansie West district. External Links Traditional Council Official Site region of Ghana, continue to show promising results. Extensive gold soil geochemical anomalies
Anomalies is Cephalic Carnage's 4th full-length album. It was released on Relapse Records. The group expanded their sound even more than their previous album, Lucid Interval, and gained more popularity. have been outlined in the Oda River, Essuowim and Mpesetia concessions, and a 15,000-metre reverse circulation drilling program is under way at the Abore North and Edubia prospects, both located in the Oda River concession, and at the Mpesetia prospect in the Mpesetia concession. Results are presently being compiled.
GOLDEN KNIGHT RESOURCES INC.
CONSOLIDATED CONDENSED BALANCE SHEETS
(Unaudited and subject to year-end adjustments)
June 30, Dec. 31,
1996 1995
($ in thousands)
ASSETS
Current assets 15,744 14,765
Investments 1,529 1,385
Capital assets 75,122 73,148
--------- ---------
$ 92,395 $ 89,298
--------- ---------
--------- ---------
LIABILITIES
Current liabilities 2,759 5,580
Deferred income taxes 7,475 8,741
--------- ---------
10,234 14,321
SHAREHOLDERS' EQUITY
Share Capital 83,890 74,076
Retained Earnings (Deficit) (1,729) 901
--------- ---------
82,161 74,977
--------- ---------
$ 92,395 $ 89,298
--------- ---------
--------- ---------
GOLDEN KNIGHT RESOURCES INC.
CONSOLIDATED STATEMENTS OF EARNINGS
(Unaudited and subject to year-end adjustments)
Three Months Ended Six Months Ended
June 30, June 30,
1996 1995 1996 1995
($ in thousands) ($ in thousands)
REVENUES
Mining operations $ 3,092 $ 2,982 $ 7,717 $ 6,366
Investment and
other income 132 361 658 706
------------------- -------------------
3,224 3,343 8,375 7,072
------------------- -------------------
COSTS AND EXPENSES
Mining operations 2,792 3,576 7,229 7,032
Administration 374 (85) 821 71
Depreciation
and amortization 1,159 733 2,654 1,522
Mineral exploration 633 134 1,505 221
------------------- -------------------
4,958 4,358 12,209 8,846
------------------- -------------------
EARNINGS (LOSS)
BEFORE TAXES (1,734) (1,015) (3,834) (1,774)
------------------- -------------------
PROVISION FOR
INCOME AND
MINING TAXES
Current 29 38 62 84
Deferred (579) (427) (1,266) (739)
------------------- --------------------
(550) (389) (1,204) (655)
------------------- -------------------
NET EARNINGS
(LOSS) (1,184) (626) (2,630) (1,119)
------------------- -------------------
------------------- -------------------
EARNINGS
(LOSS) PER SHARE ($0.07) ($0.05) ($0.17) ($0.09)
------------------- -------------------
------------------- -------------------
GOLDEN KNIGHT RESOURCES INC.
CONSOLIDATED STATEMENTS OF CASH FLOW
(Unaudited and subject to year-end adjustments)
Three Months Ended Six Months Ended
June 30, June 30,
1996 1995 1996 1995
($ in thousands) ($ in thousands)
CASH PROVIDED FROM (USED FOR)
Operating Activities
Earnings (loss)
from operations (1,184) (626) (2,630) (1,119)
Non-cash items:
Depreciation
and amortization 1,159 733 2,654 1,522
Deferred income
taxes (579) (427) (1,266) (739)
----------------- ------------------
(604) (320) (1,242) (336)
Changes in non-cash working
capital balances (421) (119) 2,370 1,428
----------------- ------------------
(1,025) (439) 1,128 1,092
----------------- ------------------
Financing Activities
Issue of shares
(net) 152 98 9,814 182
----------------- ------------------
Investing Activities
Capital assets (173) (443) (348) (510)
Deferred mine
development costs (1,770) (2,269) (4,280) (4,807)
Tax refund on
exploration expenditures 132 132
Investments (net) (144)
----------------- ------------------
(1,943) (2,580) (4,772) (5,185)
----------------- ------------------
Increase in Cash
and Cash
Equivalents (2,816) (2,921) 6,170 (3,911)
Cash and Cash
Equivalents -
Beginning of
Period 14,892 19,739 5,906 20,729
----------------- ------------------
Cash and Cash
Equivalents -
End of Period $ 12,076 $ 16,818 $12,076 $ 16,818
------------------- ------------------
------------------- ------------------
CONTACT: Golden Knight The Golden Knight has last appeared in Demon #20 published by DC Comics. He is protectorate of a dimensional region beyond virtue of Heaven's Gate and can only let something of pure goodness pass. The Thing That Never Dies passes but Etrigan has to fight the Golden Knight. Resources Inc. R.E. Gordon Gordon, river in W Tasmania, Australia, 125 mi (200 km) long. Flowing from mountains to the W coast, its main tributaries are the Franklin and Denison from the N, and Serpentine and Olga to the S. Davis, 604/689-3846 Paul Paul, 1901–64, king of the Hellenes (1947–64), brother and successor of George II. He married (1938) Princess Frederika of Brunswick. During Paul's reign Greece followed a pro-Western policy, and the Cyprus question was temporarily resolved. LaFontaine Lafontaine, French for "the fountain", may refer to:
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