GOLDEN GOOSE RESOURCES INC. REPORTS ITS 2010 SECOND QUARTER RESULTS
27 August 2010 - 11:27PM
PR Newswire (Canada)
MONTREAL, Aug. 27 /CNW/ -- MONTREAL, Aug. 27 /CNW Telbec/ - Golden
Goose Resources Inc. (TSX-V: GGR) (the "Company") is pleased to
report its unaudited interim financial statements for the three and
six-month periods ended June 30, 2010 with comparative figures for
2009. 2010 Second quarter operating resultsFor the three-month
period ended June 30, 2010, the Company reported a net income of
$158,362 ($0.00 per share) compared with a net loss of $421,040
(loss of $0.01 per share) for the same period of 2009. An
unrealized gain on held for-trading financial instruments in the
amount of $477,353, coming from financial instruments received as
consideration for the sale of Lac Levac property, and a gain of
$20,393 realized on the sale of marketable securities was accounted
for during the period. Also during the period, general and
administrative expenses were reduced from $380,218 to $312,355 this
quarter as a result of lower administrative salaries. Interest
income increased from $7,786 to $36,580 due to the 8% convertible
debenture received as part of the consideration for Lac
Levac. For the six-month period ended June 30, 2010, the
Company reported a net income of $124,325 ($0.00 per share)
compared with a net loss of $616,600 (loss of $0.01) for the same
period in 2009. The net income realized during the six-month of
this year is attributable to a gain of $187,909 on the sale of Lac
Levac property on January 15, 2010, to an unrealized gain on held
for-trading financial instruments in the amount of $318,878 coming
from financial instruments received as consideration for the sale
of Lac Levac property, and a realized gain of $20,393 on the sale
of marketable securities. Also during the six-month period, Golden
Goose recorded an income tax recovery of $237,906 as a result of
the reversal of valuation allowance mainly due to the renunciations
in favour of the investors by the Company to tax deductions
totalling $1,178,600, which was raised through the issuance of
flow-through shares in 2009. Additional information in regards to
the first quarter ended June 30, 2010 The financial information in
regards to the three and six-month periods ended June 30, 2010
should be read in conjunction with the Company's unaudited interim
financial statements and Management and Discussion Analysis dated
August 26, 2010. These documents are available at www.sedar.com
ABOUT GOLDEN GOOSE RESOURCESGolden Goose Resources Inc. is a
Canadian public company listed on the TSX Venture Exchange under
the symbol GGR. The Company is principally engaged in mineral
exploration and acquisition and has a portfolio of gold properties
in Ontario and Quebec. Disclaimer in regards to Forward-Looking
Statements Certain statements included herein, including those that
express management's expectations or estimates of our future
performance constitute "forward-looking statements" within the
meaning of applicable securities laws. Forward-looking statements
are necessarily based upon a number of estimates and assumptions
that, while considered reasonable by management at this time, are
inherently subject to significant business, economic and
competitive uncertainties and contingencies. Investors are
cautioned not to put undue reliance on forward looking statements.
"Neither TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release." p align="justify"bPLEASE CONTACT:/b/p pbRenmark
Financial Communications Inc.br//bJason Roy:
jroy@renmarkfinancial.combr/Arash Shahi:
ashahi@renmarkfinancial.combr/bMedia -/bGuy Hurd:
ghurd@renmarkfinancial.combr/Tel.: (514) 939-3989 or (416)
644-2020br/a
href="http://www.renmarkfinancial.com"www.renmarkfinancial.com/a/p
p/p table border="0" valign="top"trtd colspan="2" align="left"
valign="top"bGolden Goose Resources Inc./b/td/tr trtd
align="left"François Perron br/President
and Chief Executive Officer br//td td align="left"
valign="top"Email: a
href="mailto:perron@goldengooseres.com"perron@goldengooseres.combr//aWebsite:
a
href="http://www.goldengooseres.com"www.goldengooseres.combr//aTel.:
1-888-928-4667 Fax: 1-888-494-5371 /td/tr/table br/
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