$HTSC had an operating income of $1,320,883 for
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Posted On: 08/15/2022 9:29:20 AM
$HTSC had an operating income of $1,320,883 for the nine months ended June 30, 2022, an increase of $952,164, or 258%, as compared to operating income of $304,750, for the nine months ended June 30, 2021.
Revenues increased 145% to $1,935,374 for the nine months ended June 30, 2022, as compared to $790,800 for the nine months ended June 30, 2021.
"We continue to generate operating profits from our ICF Industries subsidiary as we explore for nickel and gold," said Paul Riss, CEO. "We are in negotiations to bring a drill to our Gowan project in September, to drill a core hole that contained 27 feet of 3.5% nickel sulfide and 1.2% copper in a near surface intercept."
The Company has exploration drilling permits for its projects located in the Beck, Ottaway, Lennox and Gowan townships in the renowned Timmins Mining Camp of Ontario. The Company controls approximately 9,000 acres of prospective properties.
"We also believe we will have liquidity in our investment portfolio in the next quarter, that will generate cash for an additional drill program," continued Riss. "Our investment portfolio consists of small-cap stocks and has decreased substantially in market value this year, but we are working with one issuer in our portfolio that anticipates a significant liquidity event this month that will allow us to deposit and sell its shares for our mining program."
The Company has uploaded its June 30, 2022 consolidated financial statements to OTC Markets. Please refer to the financial statements for complete details of the Company's third quarter fiscal 2022 operating results.
Revenues increased 145% to $1,935,374 for the nine months ended June 30, 2022, as compared to $790,800 for the nine months ended June 30, 2021.
"We continue to generate operating profits from our ICF Industries subsidiary as we explore for nickel and gold," said Paul Riss, CEO. "We are in negotiations to bring a drill to our Gowan project in September, to drill a core hole that contained 27 feet of 3.5% nickel sulfide and 1.2% copper in a near surface intercept."
The Company has exploration drilling permits for its projects located in the Beck, Ottaway, Lennox and Gowan townships in the renowned Timmins Mining Camp of Ontario. The Company controls approximately 9,000 acres of prospective properties.
"We also believe we will have liquidity in our investment portfolio in the next quarter, that will generate cash for an additional drill program," continued Riss. "Our investment portfolio consists of small-cap stocks and has decreased substantially in market value this year, but we are working with one issuer in our portfolio that anticipates a significant liquidity event this month that will allow us to deposit and sell its shares for our mining program."
The Company has uploaded its June 30, 2022 consolidated financial statements to OTC Markets. Please refer to the financial statements for complete details of the Company's third quarter fiscal 2022 operating results.
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