Century Global Commodities Corp (TSX:CNT) said it finished its fiscal third quarter with strong net working capital of $9.4 million.
The company, which is advancing the Joyce Lake direct shipping iron ore project (DSO) in Newfoundland and Labrador, said that the amount consists of cash, bank deposits and marketable securities totaling $6.5 million, together with accounts receivables and other current assets of $5.6 million.
It recorded accounts payable and other current liabilities of $2.7 million as of September 30, 2022.
READ: Century Global Commodities Joyce Lake DSO project achieves environmental assessment milestone
The Canadian firm owns a large portfolio of multi-billion tonne iron ore projects in Canada, of which Joyce Lake is the most advanced.
It also has other non-ferrous metals properties under exploration as well as a well-established food distribution business (Century Food) in Hong Kong.
Contact the author at stephen.gunnion@proactiveinvestors.com