Nov 20, 2018
Intercontinental Gold and Metals Ltd. Announces Financial and Operating Results for the Period ended September 30, 2018 and other Corporate Updates
TORONTO, ONTARIO -- November 20, 2018 -- Intercontinental Gold and Metals Ltd. (TSX-V:ICAU) (the "Company") a gold and metals trading company, today announced financial results for the second quarter ended September 30, 2018. All amounts are expressed in Canadian dollars unless otherwise noted.
Financial Highlights - Second Quarter-Ended September 30, 2018
Operating Highlights - Second Quarter-Ended September 30, 2018
"Our record Q2 operating and financial results reflect the experience and commitment of our operations personnel. Our team in Latin America continue to deliver a “best in class” service experience to our artisanal clients. Our growing reputation as a trusted gold exporter is a key driver in our quarterly growth achievements enabling us to make significant gains in market share. During the last twelve months we successfully demonstrated the market potential of our business plan of gold and metals trading and have now positioned ourselves as a leading gold exporter and refiner in Latin America," said Gorden Glenn, President and CEO. "The next twelve months and beyond will be equally exciting and challenging as we continue to expand our market presence across the continent, increase revenues and diversify our revenue streams."
Last Twelve Months August 2017- September 2018 Highlights
Corporate Update - Outlook and Future Growth Opportunities and Initiatives
Gorden Glenn, CEO commented “We continue see significant opportunities for growth in our core gold and metals trading businesses, new jurisdictions and entry into online bullion sales and gold back digital currency markets. Our operating and financial results successes to date are the building blocks to establishing Intercontinental Gold and Metals as a Next Generation Metals and Mining Company of the future.”
About Intercontinental Gold and Metals Ltd.
Intercontinental Gold and Metals Ltd. is a Next Generation Metals and Mining Company providing exposure to commodity prices, exploration and development success and significant growth potential for our stakeholders. Our physical commodities marketing and trading operations provide insights in global primary supply and demand trends that in turn create a strategic and competitive advantage investment and expansion opportunities on a global basis. The Company generates revenues from the purchases and sales of gold and silver (accounted for as revenue). Cost of sales is measured at the fair value of the precious metals purchased and inventory sold, which is purchased at a competitive discount from licensed artisanal and small gold miners (ASGM) in Latin America (LATAM). ASGM supply supports a sustainable revenue generation model. We are unique being the only publicly listed company servicing the LATAM ASGM market.
ON BEHALF OF THE BOARD OF DIRECTORS
Forward Looking Statements
This release includes certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expect, are forward-looking statements. Actual results or developments may differ materially from those in forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
You can view the Next News item: Fri May 31, 2019, Intercontinental Gold and Metals Ltd. Reports First Quarter of 2019 Revenue increase of 443% to $48.9M versus $9.0M in the first quarter of 2018. Net loss for the period decreased by 89% to $0.1M from $0.7M in the first quarter of 2018.
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