May 29, 2023
Rupert Resources Ltd (“Rupert” or the “Company”) announces that it has published its audited financial results for the twelve months ending February 28, 2023 and accompanying Management’s Discussion and Analysis for the same period.
Both of the above have been posted on the Company’s website www.rupertresources.com and on Sedar at www.sedar.com.
Financial Highlights
During the 12 months ending February 28, 2023, the Company spent $29,078,639 (twelve months ended February 28, 2022 – $23,798,498) on general exploration costs and purchase of property, plant and equipment. As of February 28, 2023, Rupert held cash or cash equivalents of $70,499,292. The Company recorded a net loss and comprehensive loss for the year of $(10,673,487) (12 months ended February 28, 2022 – $(12,096,620)) and a net loss per share of $(0.07) (12 months ended February 28, 2022 – $(0.05)).
All references to currency in this press release are in Canadian dollars.
James Withall, Chief Executive Officer of Rupert Resources said, “We exited the year with C$70 million dollars in the treasury and are well set to execute our work programmes including advancing with the prefeasibility study for Ikkari as well as permitting matters and continuing with our exploration programs to delineate further resources and discoveries of scale at our core Rupert Lapland Project.”
