INV Metals Reports Q3/2011 Results
TORONTO, ON – November 10, 2011 – INV Metals Inc. (“INV Metals” or “Company”) (TSX: INV) reports its financial results for the three and nine month periods ended September 30, 2011 (see INV Metals’ unaudited 2011 interim consolidated financial statements and MD&A filed on SEDAR at www.sedar.com and on the Company’s web site at www.invmetals.com).
The Company recorded a net loss of $3,968,489 or $0.06 per share for the three month period ended September 30, 2011 (“Q3/2011”), compared with a net loss of $449,254 or $0.01 per share for the corresponding period ended September 30, 2010 (“Q3/2010”). The Company’s cash balance as at September 30, 2011 was $14.2 million, compared to $21.3 million at year end 2010; the decrease was mainly due to the Company’s exploration expenditures on its properties in Namibia and Brazil.
About INVTM Metals
INVTM Metals is an international mineral resource company focused on the acquisition, exploration and development of base and precious metal projects in Brazil, Namibia and Canada. Currently, INVTM Metals’ primary assets are: (1) its option to acquire an initial 50% of the Rio Novo property, located in Brazil, (2) its option to acquire an initial 50% of the Kaoko property, located in Namibia, (3) its 100% owned Itaporã gold properties, located in Brazil and (4) its option to acquire 50% of the Thorne Lake gold property, located in northwestern Ontario. Please also refer to the INVTM Metals’ website at www.invmetals.com to view additional details relating to the properties.