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Sienna Resources ends 2016 with $18,618 in cash
Pre-revenue minerals explorer Sienna Resources Inc (CVE:SIE) ended 2016 with cash of $18,618 , it said in its annual results statement.
That compared with a figure of $2,454 a year earlier.
The net loss increased to $833,693 for the year from a loss of $380,637 in 2015.
The firm has a number of mineral properties in Nevada and Canada, including the Esmeralda Lithium project and flagship Clayton Valley Deep Basin Lithium Brine project in the former, and the Lezai prospect and Grande-Vallée North aluminous Clay Prospect in the latter.
Having acquired the Clayton Valley Deep brine project in early 2016 it is now working on plans to explore and possibly develop the asset, which is close to some big discoveries.
It is in the deepest sections of the only basin that produces lithium from brine in Nevada.
Pure Energy Minerals, Sienna’s neighbor, has had success drilling on its deepest drill program to date in this basin.
This point bodes well for Sienna, company president Jason Gigliotti has said, who also said that Clayton Valley’s location is a distinct advantage.
Shares were unchanged at $0.125.
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/175713/sienna-resources-ends-2016-with-18618-in-cash-175713.html
