Elysee Announces Results for the Nine Months Ended September 30, 2024
Elysee Development Corp reported strong Q3 2024 financial results with net income of $963,981 ($0.03 per share), compared to a loss of $1,400,850 in Q3 2023. Total investment income reached $1,119,668, with NAV increasing to $0.43 per share from $0.39 at year-end 2023. Cash position strengthened to $1,961,829, up from $849,798. The improved performance was driven by strong gold prices benefiting senior producers in their portfolio. The company experienced a realized loss from Victoria Gold Corp due to a heap leach pad failure, but made partial recovery of its BakerSci Corp investment.
Elysee Development Corp ha riportato risultati finanziari solidi per il terzo trimestre del 2024, con un reddito netto di $963,981 ($0,03 per azione), rispetto a una perdita di $1,400,850 nel terzo trimestre del 2023. Il reddito totale da investimenti ha raggiunto $1,119,668, con il NAV che è aumentato a $0,43 per azione rispetto a $0,39 a fine anno 2023. La posizione di cassa si è rafforzata a $1,961,829, in aumento rispetto a $849,798. Le performance migliorate sono state sostenute da forti prezzi dell'oro che hanno avvantaggiato i produttori senior nel loro portafoglio. L'azienda ha subito una perdita realizzata da Victoria Gold Corp a causa di un guasto nel campo di percolazione, ma ha parzialmente recuperato il suo investimento in BakerSci Corp.
Elysee Development Corp reportó resultados financieros sólidos para el tercer trimestre de 2024, con un ingreso neto de $963,981 ($0.03 por acción), en comparación con una pérdida de $1,400,850 en el tercer trimestre de 2023. Los ingresos totales por inversiones alcanzaron $1,119,668, con el NAV aumentando a $0.43 por acción desde $0.39 a finales de 2023. La posición de efectivo se fortaleció a $1,961,829, un aumento desde $849,798. El desempeño mejorado fue impulsado por los altos precios del oro, beneficiando a los productores senior en su cartera. La compañía experimentó una pérdida realizada de Victoria Gold Corp debido a una falla en la plataforma de lixiviación, pero logró una recuperación parcial de su inversión en BakerSci Corp.
엘리세 개발 공사는 2024년 3분기에 강력한 재무 결과를 보고했습니다. 순이익은 $963,981 ($0.03 주당)으로, 2023년 3분기에 비해 $1,400,850의 손실에서 개선되었습니다. 총 투자 수익은 $1,119,668에 달했으며, 연말 기준으로 NAV는 주당 $0.39에서 $0.43로 증가했습니다. 현금 위치는 $849,798에서 $1,961,829로 증가하며 강화되었습니다. 개선된 성과는 포트폴리오 내 주요 생산자들이 이익을 본 강력한 금 가격 덕분입니다. 회사는 빅토리아 골드 공사에서 리크리어 패드 문제로 인해 실현된 손실을 경험했지만, 베이커사이 코프 투자에서 부분적 회복을 이루었습니다.
Elysee Development Corp a annoncé de solides résultats financiers pour le troisième trimestre 2024, avec un bénéfice net de 963 981 $ (0,03 $ par action), par rapport à une perte de 1 400 850 $ au troisième trimestre 2023. Les revenus totaux des investissements ont atteint 1 119 668 $, avec un NAV passant de 0,39 $ par action à 0,43 $ à la fin de 2023. La position de trésorerie s'est renforcée pour atteindre 1 961 829 $, en hausse par rapport à 849 798 $. La performance améliorée a été soutenue par de forts prix de l'or qui ont bénéficié aux producteurs seniors dans leur portefeuille. L'entreprise a subi une perte réalisée de la Victoria Gold Corp en raison d'une défaillance de la plateforme de lixiviation, mais a réalisé une récupération partielle de son investissement dans BakerSci Corp.
Elysee Development Corp hat starke finanzielle Ergebnisse für das dritte Quartal 2024 berichtet, mit einem Nettogewinn von $963,981 ($0,03 pro Aktie), im Vergleich zu einem Verlust von $1,400,850 im dritten Quartal 2023. Das gesamte Anlageergebnis erreichte $1,119,668, wobei das NAV von $0,39 zum Ende des Jahres 2023 auf $0,43 pro Aktie anstieg. Die Liquiditätsposition wurde auf $1,961,829 gestärkt, was einem Anstieg von $849,798 entspricht. Die verbesserte Performance wurde durch hohe Goldpreise begünstigt, die den führenden Produzenten im Portfolio zugutekamen. Das Unternehmen erlitt einen realisierten Verlust von Victoria Gold Corp aufgrund eines Ausfalls der Laugungsanlage, konnte jedoch einen teilweisen Rückgewinn aus seiner Investition in BakerSci Corp erzielen.
- Net income improved to $963,981 in Q3 2024 from a loss of $1,400,850 in Q3 2023
- Investment income increased to $1,119,668 from a loss of $1,306,361 year-over-year
- NAV per share increased to $0.43 from $0.39 at year-end 2023
- Cash position strengthened to $1,961,829 from $849,798
- Portfolio value increased by $1,127,047 during Q3 2024
- Realized loss of $280,580 on marketable securities due to Victoria Gold Corp investment
- General and administrative expenses of $382,759 for the nine-month period
Vancouver, British Columbia--(Newsfile Corp. - November 12, 2024) - Elysee Development Corp. (TSXV: ELC) (FSE: QLDN) is pleased to announce its unaudited financial results for the three and nine months ended September 30, 2024 ("Q3 2024"). All dollar amounts are in Canadian funds.
Highlights from the Q3 2024 results include:
- Net income for Q3 2024 of
$963,981 ($0.03 per share) as compared to a net loss of$1,400,850 ($0.05 per share in Q3 2023; - Total investment income for Q3 2024 of
$1,119,668 as compared to a loss on investments of$1,306,361 in Q3 2023; - Net Asset Value (NAV) per share of
$0.43 per share as of September 30, 2024 as compared to NAV of$0.39 as of December 31, 2023; and - Cash on hand as of September 30, 2024 of
$1,961,829 compared to cash of$849,798 as of December 30, 2023.
During the nine months ended September 30, 2024, the Company had net investment earnings of
The increase in Net Asset Value to
The realized loss on marketable securities of
During Q3 2024 the Company made a partial recovery of its investment in BakerSci Corp. resulting in a net gain on other investments of
During the nine months ended September 30, 2024, the Company purchased 238,500 of its common shares at a total cost of
The Company's most significant investments as of September 30, 2024, were U.S. Vanadium LLC (privately held), Arizona Sonoran Copper Company Inc., Dundee Precious Metals Inc., Hudbay Minerals Inc., Calibre Mining Corp., and Agnico Eagle Mines Limited.
For more information on these investments and others made during the period, please refer to the MD&A dated November 5, 2024 on SEDAR+ or on our website at www.elyseedevelopment.com.
On September 30, 2024, Elysee's net asset value ("NAV") was
The Financial Statements and Management Discussion and Analysis are available for viewing on SEDAR+ and at www.elyseedevelopment.com.
FOR FURTHER IN FORMATION, PLEASE CONTACT:
Guido Cloetens
President and CEO
Elysee Development Corp.
Tel: (778) 373-1562
E-mail: info@elyseedevelopment.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, oral or written, made by itself or on its behalf, except as required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229546
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