Plato Gold Reports on Third Quarter Results
Plato Gold Corp. (OTCQB: NIOVF) reported financial results for the nine and three months ended September 30, 2022. For the nine months, income was $1.7 million, up from $850,000 in 2021, while the net loss reached $208,611. For the three months, income was $499,000 compared to $304,000 in 2021, with a net loss of $31,455. The weighted average number of shares outstanding increased to approximately 222.4 million. The company continues its exploration efforts in Ontario and Argentina, focusing on gold and silver properties.
- Income for nine months increased to $1.7 million from $850,000 in 2021.
- Income for three months was $499,000, an increase from $304,000 in 2021.
- Net loss for nine months reached $208,611 compared to a loss of $327,370 in 2021.
- Net loss for three months was $31,455, worsening from $54,243 in 2021.
Toronto, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Plato Gold Corp. (TSX-V: PGC) (OTCQB: NIOVF) (Frankfurt: 4Y7 or WKN: A0M2QX) (“Plato” or the “Company”) an exploration company with a portfolio of properties in Northern Ontario and Santa Cruz, Argentina is pleased to report the nine and three months financial results for fiscal 2022 and 2021, as summarized below:
| Nine Months Ended | Three Months Ended | ||||||||||||
| (Unaudited) | (Unaudited) | ||||||||||||
| Sept. 30, | Sept. 30, | Sept. 30, | Sept. 30, | ||||||||||
| 2022 | 2021 | 2022 | 2021 | ||||||||||
| Income | $ | 1,704 | $ | 850 | $ | 499 | $ | 304 | |||||
| Net Loss and Comprehensive Loss | $ | (208,611 | ) | $ | (327,370 | ) | $ | (31,455 | ) | $ | (54,243 | ) | |
| Loss per common share - basic and diluted | - | - | - | - | |||||||||
| Weighted average number of common shares outstanding - basic and diluted | 222,369,380 | 212,247,929 | 227,524,413 | 216,465,717 | |||||||||
For full details, please visit us at www.platogold.com.
About Plato Gold Corp.
Plato Gold Corp. is a Canadian exploration company traded on the TSX Venture Exchange, OTC Markets, and Frankfurt Exchange with projects in Timmins, Ontario, Marathon, Ontario and Santa Cruz, Argentina.
The Timmins Ontario project includes 4 properties: Guibord, Harker, Holloway and Marriott in the Harker/Holloway gold camp located east of Timmins, Ontario with a focus on gold.
In Argentina, Plato owns a
The Good Hope Niobium Project consists of approximately 5,146 hectares in Killala Lake Area and Cairngorm Lake Area Townships, near Marathon Ontario with the primary target being niobium.
The Pic River Platinum Group Metals (PGM) Project consists of 2,247 hectares in Foxtrap Lake and Grain Township, near Marathon Ontario of which 19 claims are contiguous to the western boundary of Generation Mining’s Marathon PGM project and is located on strike to Generation Mining’s Sally deposit.
For additional company information, please visit www.platogold.com.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.
For further information, please contact:
Anthony Cohen
President and CEO
Plato Gold Corp.
T: 416-968-0608
F: 416-968-3339
info@platogold.com
www.platogold.com
Forward-Looking Statements
This news release contains “forward-looking statements”, within the meaning of applicable securities laws. These statements include, but are not limited to, statements regarding the potential mineralization and resources, exploration results, concentrations of pay minerals that may offset operating costs and future plans and objectives. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include but are not limited to: changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; testing of our process may not prove successful and even it tests are successful, the economic and other outcomes may not be as expected; the availability of labour, equipment and markets for the products produced; and conditions changing such that the minerals on our property cannot be economically mined, or that the required permits cannot be obtained. Although management of Plato has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
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