SRC Announces Gross Profit for 2021
Toronto, Ontario--(Newsfile Corp. - May 4, 2022) - Stakeholder Gold Corporation (TSXV: SRC) ("Stakeholder" or the "Company") is pleased to announce gross profit for 2021, of $2,482,770 CAD. Production and sales increased steadily throughout the first year of operation. The Company has reported 2021 Revenue of $3,076,474 CAD and an average gross margin of 81%. These revenues were generated at the Company's wholly owned subsidiary Victoria Mining Corporation ("VMC") in Minas Gerais, Brazil.
"We have successfully commissioned our first quarry and have recently received operating permits for 2 additional quarries. These new permits will allow us to expand this profitable business activity. We anticipate start-up of the new quarries in the next few weeks and expect to be able to continue to report increasing production and profitability throughout 2022," stated Christopher Berlet, CEO of Stakeholder.
"Our stone buyers have shown recurring interest because of strong product uptake in US and European markets. We have completed permitting for 2 additional quarries and expect to be able to continue growing production and sales of our Brazilian exotic stone materials," stated Marcus Chase, President of VMC.
Figure 1. OCEAN FANTASY selling out in Naples, Florida
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Stakeholder Gold Corp. is a junior resource company developing cash flow from the production and sale of exotic Blue Quartzite at its wholly owned Blue Quartzite quarry in Minas Gerais, Brazil.
Stakeholder Gold Corp. also has 100% ownership of the Ballarat Gold Project which holds 7,442 hectares of claims located in the heart of the White Gold District of the Yukon Territory, Canada. The Company's Ballarat Project claim group includes an area extending over 10 km of the road construction route for the Northern Gateway Road which is being built to service the White Gold District. The Ballarat claim group also includes title to 10 claims located within the nearby Coffee Project which is being developed by Newmont Corp. south of the Yukon River.
For further information please contact:
Stakeholder Gold Corporation
Telephone: (416) 525 - 6869
This news release contains forward-looking information. All information, other than information of historical fact, constitute "forward-looking statements" and includes any information that addresses activities, events, or developments that the Corporation believes, expects, or anticipates will or may occur in the future including the Corporation's strategy, plans or future financial or operating performance.
When used in this news release, the words "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may" and similar expressions, as well as "will", "shall" and other indications of future tense, are intended to identify forward- looking information. The forward-looking information is based on current expectations and applies only as of the date on which they were made. The factors that could cause actual results to differ materially from those indicated in such forward-looking information include, but are not limited to, the ability of the Corporation to fund the exploration expenditures required under the Agreement. Other factors such as uncertainties regarding government regulations could also affect the results. Other risks may be set out in the Corporation's annual financial statements, MD&A and other publicly filed documents.
The Corporation cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information. Except as required by law, the Corporation does not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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