Century Global Commodities Corporation said it has filed its condensed consolidated interim financial statements for the first fiscal quarter ended June 30, 2021, and the related management discussion and analysis.
The statements show that, as of June 30, 2021, the company had strong working capital of $15.2 million, consisting of cash, bank deposits and marketable securities totaling $14.2 million, together with accounts receivables and other current assets of $4.4 million, less accounts payable and other current liabilities of $3.4 million.
READ: Century Global Commodities says Environmental Impact Statement for Joyce Lake project submitted to federal and provincial authorities
Copies of the documents are available under Century’s SEDAR profile at www.sedar.com and will also be posted on the company’s website at www.centuryglobal.ca.
Century Global Commodities is primarily a resource exploration and development company with a large portfolio of multi-billion tonne iron ore projects in Canada, mostly discovered by its own exploration team. It has other non-ferrous metals properties under exploration as well as a well-established food distribution business (Century Food) in Hong Kong.
Joyce Lake, the company's most advanced project, is a DSO (direct shipping ore) project in Newfoundland and Labrador, close to the town of Schefferville, Quebec which is serviced by a rail link directly to ocean shipping iron ore ports at Sept-Îles. A new 43 kilometer dedicated haul road will be constructed to connect the Project to the rail link. The project has completed feasibility and permitting studies and can be brought to production within approximately 30 months.
Century Food is a subsidiary operation of the company which it started a few years ago and is a value-adding marketing and distribution business of quality food products sourced from such regions as Europe and Australia and sold in the Hong Kong market.
Contact the author at jon.hopkins@proactiveinvestors.com