Resinco® Capital Partners Inc. Q1 2013 Results
Resinco® Capital Partners Inc. Q1 2013 Results
VANCOUVER, British Columbia--(BUSINESS WIRE)-- Resinco® Capital Partners Inc. (TSX: RIN) (FWB: L6V) ("Resinco" or the "Company") announces its financial results for the three month period ended March 31, 2013 and reports a net loss of $1.6 million or $0.01 per share versus a net loss of $5.9 million or $0.05 per share for the same period in 2012.
At March 31, 2013 the Company held investments with a fair value of $7,846 million, or $0.06 per share, compared to $9,242 million, or $0.08 per share, at December 31, 2012, a decrease of 15%. This decline mirrored the decline in the TSX Venture Exchange, being the representative equities market on which most of the Company's publicly traded early-stage resource investments are listed, which declined 10% in the three months ended March 31, 2013.
Resinco recorded a net realized and unrealized loss on the sale of investments of $1,390 million in the three months ended March 31, 2013 compared to a net realized and unrealized gain of $6,245 million in the comparative year.
During the three months ended March 31, 2013, the Company expenses were $214 compared to $464 over the same period in the prior year. This is a reduction of $250 or 54% compared to the prior year due to the cost cutting measures introduced in Q4 of 2012.
About Resinco® Capital Partners Inc.
Resinco is a global investment company that specializes in providing early stage financing to private and public exploration and mining companies in the hard rock minerals, precious metals, rare-earth minerals, oil, gas, water and renewable energy markets.
For more information on Resinco, please visit www.resincocp.com.
On behalf of the Board of Directors
RESINCO® CAPITAL PARTNERS INC.:
John Icke
President and CEO
For more information, please contact
Resinco
John Icke
President and CEO
604-696-6516
info@resincocp.com
www.resincocp.com
Resinco
John Icke, 604-696-6516
President and CEO
info@resincocp.com
www.resincocp.com
KEYWORDS: North America Canada
INDUSTRY KEYWORDS:
The article Resinco® Capital Partners Inc. Q1 2013 Results originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.
