Northern Vertex Reports Fiscal 2019 Financial Results
VANCOUVER, Oct. 28, 2019 /PRNewswire/ – Northern Vertex Mining Corp. (TSX.V:NEE) (the “Company”) is pleased to announce its audited financial results for the fiscal year ended June 30, 2019 including revenue of $24.9 million, operating income from mining operations before depreciation and depletion of $3.7 million, and a positive working capital position of $0.9 million which improved by approximately $9.3 million compared to the previous year. Increase in working capital was largely due to increased heap leach pad and finished product inventory as the Moss Mine ramped up operations during the year. As of today’s date working capital has increased by approximately $8.5 million as the Company extended the maturity dates of $8.5 million of convertible debentures to December 1, 2020 as announced on October 3, 2019. All amounts are stated in United States dollars unless otherwise noted. The Company intends to provide a comprehensive update on the Moss Mine during the first week of November.