https://www.continentalgold.com/zijin-mining-to-acquire-continental-gold-in-friendly-all-cash-offer-for-c1-4-billion/
"... Cordoba Minerals Corp. (“Cordoba”), an unrelated public company, completed the acquisition of Sabre Metals Inc. (“Sabre”), an associate of the Company (the “Cordoba transaction”). Upon completion of the Cordoba transaction, the Company’s ownership of Cordoba was approximately 7%, including shares of Cordoba previously owned by the Company prior to the closing of the Cordoba transaction, resulting in the loss of significant influence in Sabre. As a result, the investment in Sabre was reclassified to marketable securities as a fair value through profit and loss (“FVTPL”) investment.
Net loss for the three and nine months ended September 30, 2014 was $14.2 million and $16.3 million, respectively, compared to $4.0 million and $19.3 million for the same respective periods in 2013. The change is due to charges for the impairment of exploration and evaluation assets and an investment in an associate and a provision for bad debts from an associate recorded in 2013. In addition, the change is also impacted by losses resulting from a decline in the fair value of marketable securities, net of a gain resulting from the loss of significant influence in the Company’s investment in Sabre, recognized in 2014.
The Company has no long-term financial liabilities, off-balance sheet financing arrangements or material contingent liabilities or contractual obligations, other than the equity tax liability. Excluding the impact of revaluations for financial liabilities and foreign exchange on Canadian-dollar cash balances, the Company expects to continue to incur losses until commercial mining operations from its exploration and evaluation assets have commenced.
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