Aurwest reports significant net loss in financial results

Aurwest Resources Corporation, a Canadian junior resource company, announced its financial results for the third quarter ending September 30, 2024. The company reported a net loss of $62,752 for the quarter, reflecting ongoing challenges in their operations and financial health. Over the nine-month period, cash used in operating activities reached negative $83,962, indicating a pressing situation regarding liquidity. Furthermore, the company faced negative cash flows of $4,816 in investing activities, which were primarily associated with exploration and evaluation expenditures. In light of its financial circumstances, Aurwest confirmed a significant transaction involving the sale of its Stars Property to Interra Copper Corp. This agreement, entered into on October 4, 2024, aims to provide Aurwest with approximately $1.1 million, comprising cash and equity considerations. The transaction is intended to strengthen Aurwest’s financial position and enable the company to focus on its continued operations. Aurwest has actively engaged with its shareholders, recently mailing out Meeting Materials to facilitate a special meeting scheduled for December 10, 2024. The meeting will address the sale of the Stars Property, with significant encouragement for shareholders to participate electronically due to potential delays from a Canada Post labor strike. Despite these setbacks, Aurwest continues to focus on its exploration projects across Canada, holding a 100% interest in several properties. They remain optimistic about future exploration activities, even as they navigate through this challenging fiscal environment. The company's leadership has expressed cautious hope that the ongoing review and restructuring of their business strategy could lead to improved financial outcomes and operational success moving forward.