Elysee Development Corp. (TSE:ELC) has released an update.
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Elysee Development Corp. reported a net loss of $4,034,438 for the fiscal year 2023, widening from the previous year’s loss, alongside a net asset value per share of $0.39 and cash reserves of $849,798 without any debt. The company faced challenges in the mining sector, leading to significant unrealized losses and write-downs in its marketable securities and private equity investments. Despite the losses, Elysee managed to reduce general and administrative expenses and increased interest and dividend income.
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