Century Global Commodities Corporation said it has filed its condensed consolidated interim financial statements for the third fiscal quarter ended December 31, 2021, and the related management discussion and analysis.
As of December 31, 2021, the company had strong working capital of $12.4 million, consisting of cash, bank deposits and marketable securities totaling $11.2 million, together with accounts receivable and other current assets of $3.7 million, less accounts payable and other current liabilities of $2.5 million.
READ: Century Global says its subsidiary Joyce Direct Iron will provide EIS report to Newfoundland provincial government
Copies of the documents are available under Century’s SEDAR profile at www.sedar.com and will also be posted on Century’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.
The Project completed a feasibility study in 2015 which is being updated and is undergoing environmental assessment. Joyce Lake is held in a special purpose vehicle, Joyce Direct Iron Inc., to be spun out to be a separately listed company.
Century Food is a subsidiary operation of the company which 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 and Macau markets.
Contact the author at jon.hopkins@proactiveinvestors.com