Chaparral Gold Reports Second Quarter Financial and Operating Results

13.08.2014  |  CNW

SCOTTSDALE, Aug. 13, 2014 - Chaparral Gold Corp. ("Chaparral" or the "Company") (TSX: CHL) announces that it has filed its unaudited condensed consolidated interim financial statements for the three and six month periods ended June 30, 2014, together with the management's discussion and analysis of operations for the same period. This information has been filed on SEDAR and is also available on the Company's website or by contacting Chaparral directly. All currency is reported in US dollars.

Items of significance for Chaparral for the second fiscal quarter ended June 30, 2014 include the following:

• considered a number of strategic alternatives in order to enhance shareholder value in response to the hostile bid launched by Waterton Precious Metals Fund II Cayman LP ("Waterton") on February 19, 2014 (the "Hostile Bid") and Waterton's revised hostile bid announced on July 17, 2014, which revised hostile bid expired on July 31, 2014;


• continued to timely advance the permitting and other activities related to the ongoing development of the Gemfield project located at the Goldfield property in Nevada;


• held cash and equivalents of $39.6 million and working capital of $52.2 million at June 30,2014;


• reported total assets of $143.2 million, with no long-term debt;


• incurred a net and comprehensive loss after tax for the current quarter of $0.55 million (a loss of $0.00 per share), of which $0.1 million was directly attributable to the Hostile Bid; and.


• incurred a net and comprehensive loss after tax for the six months ended June 30, 2014 of $2.8 million (a loss of $0.02 per share), of which $1.0 million was directly attributable to the Hostile Bid.