Foran Mining Corporation has announced its financial results for the three month period ended June 30th. The Company recorded a net loss of just over 416 thousand dollars compared to a net loss of just over 361 thousand dollars for the three month period ended June 30th, 2014. As of June 30h the Company has a total of 1.8 million dollars in cash and cash equivalents down from 4.1 million on December 31st.
Foran is a copper zinc exploration and development company with projects in the Flin Flon mining belt. McIlvenna Bay, Foran’s flagship deposit, is located in east central Saskatchewan 65 kilometers west of Flin Flon and is reported to be one of the largest undeveloped VMS deposits in Canada. Last November Foran announced a positive preliminary economic assessment for McIlvenna Bay.
