VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 22, 2012) - Resinco® Capital Partners Inc. ("Resinco" or the "Company") (TSX:RIN)(FRANKFURT:L6V) announces its financial results for the three months ended September 30, 2012. The Company posted net income of $1,987,000 ($0.02 per share (basic)), versus a net loss of $2,383,000 ($0.02 loss per share (basic)) for the same period in 2011. At period end, the Company held investments with a fair value of $11.0 million ($0.09 per share), compared to $8.7 million ($0.071 per share) at June 30, 2012.
Resinco recorded a realized loss of $6,656,000 on the sale of marketable securities (including adjustments previously recorded in unrealized losses) during the quarter and recorded an unrealized investment gain of $9,154,000, compared to a realized gain of $547,000 and an unrealized loss of $2,653,000 for the same period in 2011.
John Icke, President and CEO commented: "2012 continues to be a challenging year for the junior resource sector. The appetite to finance deals throughout the third quarter were hampered by a general lack of confidence in the sector created by the fear of a global reduction in demand for commodities and this led to many junior exploration companies ramping back on field work in an effort to conserve cash. At Resinco, we have taken the view that supporting our key portfolio investments is a more conservative and prudent strategy than expanding our portfolio, specifically in early-stage development phase companies at this present time."
About Resinco® Capital Partners Inc.
Resinco (Resource Investment Company) is a global investment company which specializes in providing early stage financing to private and public exploration and mining companies in the hard rock minerals, precious metals, rare-earth minerals, oil, gas, water and renewable energy markets.
For more information on Resinco, please visit www.resincocp.com.
On behalf of the Board of Directors
RESINCO® CAPITAL PARTNERS INC.:
John Icke, President and CEO
Statements in this news release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute Forward-looking statements. Such statements are based on numerous assumptions and are subject to all the risks and uncertainties inherent in the Company's business, including risks related to mineral exploration and development. Consequently, actual results may vary materially from those described in the forward-looking statements.
The TSX Exchange does not accept responsibility for the adequacy or accuracy of this release.