Champion Minerals Refiles Interim Financial Statements (ccnm)
TORONTO, ONTARIO--(Marketwire - Feb. 23, 2012) -CHAMPION MINERALS INC. (TSX:CHM)(FRANKFURT:P02) ("Champion" or the "Company") reports that it refiled its interim consolidated financial statements for the 6 months ended September 30, 2011 and 9 months ended December 31, 2011 and the associated CEO and CFO certificates.
The Company restated the interim financial statements to effect the correction of an error in the calculation of non-controlling interest, which resulted in the following changes:
| Consolidated Statement of Financial Position as at September 30, 2011: |
As previously
filed |
Increase
(decrease) |
As restated
|
| $ |
$ |
$ |
| Exploration and evaluation |
50,430,967 |
(1,566,344 |
) |
48,864,623 |
| Non-controlling interest |
6,834,215 |
(1,566,344 |
) |
5,267,871 |
| Consolidated Statement of Financial Position as at December 31, 2011: |
As previously
filed |
Increase
(decrease) |
As restated
|
| $ |
$ |
$ |
| Exploration and evaluation |
59,906,929 |
(3,495,543 |
) |
56,411,386 |
| Non-controlling interest |
10,067,423 |
(3,495,543 |
) |
6,571,880 |
| |
| The restatement did not affect the previously reported cash position or loss. |
