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 Show printable version of 'Black Bull Resources Inc. Announces September 30, ...' in a New WindowMon Jan 28, 2019
Black Bull Resources Inc. Announces September 30, 2018 -- Annual Financial Statement Release

 

Shelburne, NS --- January 28, 2019 --- Black Bull Resources Inc. (NEX:BBS.H released the Audited Financial Statements and Management Discussion & Analysis (MD&A) for the year ended September 30, 2018.

The Company reports a net loss for the year of $114,750 compared to a net loss in 2017 of $175,829 or $0.03, per share ($0.05 in 2017). There was nil revenue ($nil in 2017) as the Company is in care and maintenance. The Company recorded $4,7991 ($37.697 in 2017) in noncash operating expenses resulting in a net cash loss from operations of $109,759 ($138,132 in 2017) or $0.03 per share ($0.04 in 2017).

During the fourth quarter, the Company reports a net loss of $25,977 (net loss of $78,640 in 2017) or $0.01 per share ($0.01 in 2017). The Company recorded $1,246 ($34,100 in 2017) in non-cash operating items resulting in a net cash loss from operations of $24,731 (net loss of $44,540 in 2017) or $0.01 per share ($0.01 in 2017).

The Company continues to work through the previously announced change of business transaction. More information will be released as it becomes available. In addition, during 2018, the Company secured a demand loan of $108,595 from a director, which provided the ongoing working capital for the company while the aforementioned transaction is completed"

About Black Bull Resources Inc.

Black Bull Resources Inc. is a Canadian mining company based in Nova Scotia that owns the White Rock Mine near Shelburne. The mine produces a unique, bright, white, high-purity quartz, marketed under the Scotia WhiteTM trademark which is used in a range of value-added, specialty products.

The White Rock Property also contains an identified resource of kaolin and mica.

Further detailed information may be obtained from the Company's website www.blackbullresources.com or corporate filings at www.SEDAR.com. For other Company information contact:

Chris Every CEO
Black Bull Resources Inc.
Mb: +44 (0)7970 829499

FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements. All statements, other than statements of historical fact, included herein, including without limitation statements regarding the Company's mining properties, development results or future plans, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, changes in mineral prices, fluctuations in currency exchange rates, uncertainties relating to the availability and costs of financing needed in the future, the capital and operating costs varying significantly from estimates, delays in the development of projects, as well as those risk factors discussed or referred to in Management's Discussion and Analysis under the heading "[Risks and Uncertainties]" and other documents filed from time to time with the securities regulatory authorities in all provinces and territories of Canada and available at www.sedar.com.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Unless required by law, the Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements.

NEITHER 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 Releases item: Thu Feb 21, 2019, Black Bull Resources Inc. Announces it has signed an extension to the Option Agreement with Infrastructure Commodities Limited

You can view the Previous News Releases item: Mon Aug 27, 2018, Black Bull Resources Inc. Announces June 30, 2018 Interim Financial Statement Release

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