Only a couple weeks work.....
Hongyu has so far mined about 1,843 tonnes of ore.
At present, we have 12 employees in China.
As of May 31, 2013, the Company had total current assets of $2,075,117, and total current liabilities of $478,934. As of May 31, 2013, the Company had cash of $2,036,805 and working capital of $1,596,183. A balance of approximately $1,600,000 of cash was deposited in China and Hong Kong.
Cash provided in operating activities for the year ended May 31, 2013 was $853,574 as compared to cash used in operating activities for the year ended May 31, 2012 of $379,773.
