Prime Mining Corp (OTCMKTS:PRMNF) Stock On Watchlist After Results Update

Last Thursday Prime Mining Corp (OTCMKTS:PRMNF) announced its financial results for the fiscal quarter that ended on March 31, 2023. As a new trading week begins, it could be a good time for investors to take a look at some of the highlights. The company is mainly focussed on the development of its Los Reyes Gold Silver Project in Mexico, which it owns in its entirety.

Trading Data

On Friday, PRMNF stock moved down 3.89% to $1.7300 with more than 13.58K shares, compared to its average volume of 15.03K shares. The stock moved within a range of $1.7300 – 1.8500 after opening trade at $1.8500.

Prime Mining Announces Financial Results and Appoints New Executive

The company suffered a loss of $5,995,467, but it was an improvement on the loss of $8,038,370 that it had suffered in the prior year period. That worked out to loss per basic and diluted share of $0.05 and that was again an improvement on the loss per basic and diluted share of $0.07 in the prior year period.

At the end of the quarter, Prime Mining had cash to the tune of $19,240,951 but that was lower than the cash balance of $23,811,434 at the end of the prior year quarter. The total assets under its control depleted to $33,829,051 from $38,105,206 at the end of the prior year quarter. The total shareholders’ equity stood at $31815422 as opposed to $36013045 in the prior year quarter.