China Shen Zhou Mining & Resources, Inc. Discloses Preliminary Financials for
First Quarter of 2013
BEIJING, May 17, 2013
BEIJING, May 17, 2013 /PRNewswire-FirstCall/ -- China Shen Zhou Mining &
Resources, Inc. (the "Company") (NYSE Amex: SHZ), on May 16, 2013 filed a Form
12b-25 with the Securities and Exchange Commission disclosing that it was
unable to file with the SEC its quarterly report on Form 10-Q for the period
ended March 31, 2013 by the May 15, 2013 deadline.
The Company will require additional time due to ongoing discussions with the
SEC concerning the accounting treatment for certain development costs incurred
at the Company's mines.
At this time, the outcome of this matter cannot be predicted, however the
Company is committed to proper financial reporting and will comply with all
requirements in order to resolve this issue.
At this time the Company cannot provide an estimate on when it expects to file
the Form 10-Q.
Estimated preliminary financial information as of and for the quarter ended
March 31, 2013 is listed in the following table:
The Company cautions that all of these results are preliminary and subject to
change following the completion of the discussions with the SEC and our
subsequent review.Financial results for such period and the preliminary and
unaudited financial information provided herein does not represent all of the
information that would normally be included in a quarterly report on Form 10-Q
with respect to the Company's financial results.
Estimated preliminary financial information is as follows (in thousands):
Net loss for the three months ended March 31, 2013: ……………....$1,201 - 1,513
Total assets as of March 31, 2013: …………………………………….$86,951-98,782
Total liabilities as of March 31, 2013: ………………………………….$40,081-43,031
Total stockholders' equity as of March 31, 2013:
About China Shen Zhou Mining & Resources, Inc.
China Shen Zhou Mining & Resources, Inc., through its subsidiaries, is engaged
in the exploration, development, mining, and processing of fluorite and
nonferrous metals such as zinc, lead, and copper in China. The Company has the
following principal areas of interest in China: (a) fluorite extraction and
processing in the Sumochaganaobao region of Inner Mongolia; (b) fluorite
extraction and processing in Jingde County, Anhui Province; (c)
zinc/copper/lead processing in Wulatehouqi of Inner Mongolia; and (d)
zinc/copper exploration, mining and processing in Xinjiang.
For more information, please visit http://www.chinaszmg.com/
Safe Harbor Statement
This press release may include certain statements that are not descriptions of
historical facts, but are forward-looking statements. Forward-looking
statements can be identified by the use of forward-looking terminology such as
"will", "believes", "expects" or similar expressions. These forward-looking
statements may also include statements about our proposed discussions related
to our business or growth strategy, which is subject to change. Such
information is based upon expectations of our management that were reasonable
when made but may prove to be incorrect. All of such assumptions are
inherently subject to uncertainties and contingencies beyond our control and
upon assumptions with respect to future business decisions, which are subject
to change. We do not undertake to update the forward-looking statements
contained in this press release. For a description of the risks and
uncertainties that may cause actual results to differ from the forward-looking
statements contained in this press release, see our most recent Annual Report
filed with the Securities and Exchange Commission (SEC) on Form 10-K, and our
subsequent SEC filings. Copies of filings made with the SEC are available
through the SEC's electronic data gathering analysis retrieval system (EDGAR)
at http://www.sec.gov .
China Shen Zhou Mining & Resources, Inc
SOURCE China Shen Zhou Mining & Resources, Inc.
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