Century Global Commodities Corporation announced it had wrapped up its fiscal second-quarter with “strong” working capital of $13.3 million, according to a release from the company.
The Hong Kong-based resource company reported revenue of just over $2.1 million, which is in line with the same year-ago quarter ended September 30.
The firm posted a net loss of $898,000 during the quarter, compared to $298,000 in 2Q 2020.
READ: Century Global Commodities adds financial expert John Gravelle as director
Century Global owns a large portfolio of multi-billion tonne iron ore projects in Canada, as well as a well-established food distribution business, Century Food, in Hong Kong.
Its Joyce Lake project is a DSO (direct shipping ore) project in Newfoundland and Labrador, near the town of Schefferville, Quebec, which boasts a rail link directly to ocean shipping iron ore ports at Sept-Îles. The project has completed a feasibility study.
Century Food is a marketing and distribution business of food products sourced from such regions as Europe and Australia and sold in the Hong Kong and Macau markets.
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