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.:
President and CEO
KEYWORDS: North America Canada
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