NTI Resources Limited Third Quarter Results for 1997.CALGARY Calgary (kăl`gərē), city (1991 pop. 710,677), S Alta., Canada, at the confluence of the Bow and Elbow rivers. The largest city in Alberta and the fastest-growing major city in Canada, Calgary is a corporate, transportation, and financial , Alberta--(BUSINESS WIRE)--Dec. 19, 1997--NTI Resources Limited (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :NTI NTI NewTech Infosystems (software company, Irvine, California) NTI Nuclear Threat Initiative NTI National Transit Institute (New Brunswick, New Jersey) NTI Nunavut Tunngavik Incorporated .) NTI Resources Limited ("NTI") announces the unaudited results for the first nine months of 1997. For the nine months of 1997 total assets increased reflecting investment in Nigeria Nigeria (nījĭr`ēə), officially Federal Republic of Nigeria, republic (2006 provisional pop. 140,003,542), 356,667 sq mi (923,768 sq km), W Africa. ($20.5 million) and continuing cash calls in the SOCO SOCO Scenes of Crime Officer (UK law enforcement evidence gatherer) SOCO Southern Comfort SOCO Something Corporate (band) SOCO Standards Of Conduct Office (DoD) Tamtsag Mongolia Mongolia, country, Asia Mongolia (mŏn-gō`lēə, mŏng–), officially State of Mongolia, republic (2005 est. pop. 2,791,000), 604,247 sq mi (1,565,000 sq km), N central Asia; traditionally known as Outer Mongolia. Inc. (SOTAMO) project ($5.0 million). These investments were financed by the issuance of new shares and a draw down of cash. NTI incurred a loss of $0.5 million in the first nine months of 1997 compared to a profit of $3.7 million in the same period in 1996. The 1997 loss was largely due to operational overheads and the equity portion of losses from SOTAMO. The 1996 profit was due to a gain on the disposal of discontinued operations Discontinued operations Divisions of a business that have been sold or written off and that no longer are maintained by the business. . -0-
Third Quarter Financial Highlights:
September 30 September 30
1997 1996
(9 months) (9 months)
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Total Assets $58,281,887 $39,783,313
Net Working Capital (Deficiency) $ 6,056,891 $(8,872,257)
Shareholders' Equity $57,357,763 $30,839,383
Net Income (Loss) $ (462,941) $ 3,717,706
Earnings (Loss) Per Share $ (0.003) $ 0.048
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-0- Note to Editors: The Alberta Stock Exchange has Neither Approved, Nor Disapproved, the Information Contained Herein. CONTACT: NTI Resources Limited Chu-King Eng, 403/233-8405 403/233-7111 (FAX) apecgroup@aol.com http://www.nti-resources.com or NTI Resources Limited Sandy Uno, +65-538-2500 +65-538-1048 (FAX) ssunonti@singnet.com.sg nti@nti-resources.com |
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