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Southridge Minerals Reports Fourth Quarter Production Revenues and Profits
By: PR Newswire
Dec. 17, 2012 11:41 AM
DALLAS, Dec. 17, 2012 /PRNewswire/ -- Southridge Enterprises Inc. (PINKSHEETS: SRGE) ("Southridge" or the "Company") is pleased to announce today that Southridge Minerals, Inc., its wholly owned subsidiary, announces today it recently filed its financial results with the OTC Markets for the fourth quarter of fiscal 2012. The Company reported net income of $1,420,085 on revenues of $2,206,378, for the quarter ending August 31, 2012. The results for the quarter represented the achievement of a significant milestone for the Company in its initiation of mineral production at the Cinco Minas facility in Jalisco, Mexico.
Southridge Minerals currently holds a portfolio of mineral properties located in several world-class mining regions of Mexico. The properties include the past producing and flagship property Cinco Minas, along with the Gran Cabrera, Los Compadres, La Esperanza, La Canita and El Horconcito.
With metal prices forecasted to remain buoyant, properties that offer significant potential for Gold and Silver occurrence, a diverse management team, and a strong cash position, Southridge Minerals is well positioned to develop its opportunities and build shareholder value.
For further information on the Company's Gold and Silver projects, visit our website: http://www.southridgeminerals.com.
About Southridge Minerals, Inc. (SRGE)
What sets Southridge apart is its vast experience in Mexico and the knowledge of the geological conditions and formations pertaining to known large gold deposits that have received very little attention to date. This comparative advantage, combined with a specific geographical and mineral focus, will allow for more efficient asset and income growth in the future for the benefit of shareholders' investments.
SOURCE Southridge Enterprises Inc.
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