JOHANNESBURG (miningweekly.com) – Canada-based gold exploration company Giyani Gold on Thursday reported a net loss for the year ended December 31 of C$3.95-million, down from C$5.61 previously.
At December 31, the company also had an accumulated deficit of C$17-million and noncapital losses of C$7.98-million that could be applied against future taxable profit.
At the end of the 2013 financial year the company had a cash balance of $1.43-million.
Giyani was engaged in the acquisition, exploration, evaluation and development of principally gold resource properties in South Africa and Canada.
Currently, the company’s primary focus was the development of the Rock Island gold project, in Limpopo, and ongoing exploration for gold at its Northern Ontario project, in Canada.