Sunshine Oilsands ( (HK:2012) ) has shared an update.
Sunshine Oilsands Ltd. reported a slight decrease in petroleum sales, net of royalties, for the year ending December 31, 2024, primarily due to lower sales volume and higher royalty expenses, despite higher dilbit sales prices. The company experienced a net operating loss of CAD1.3 million for the last quarter of 2024, compared to a net operating income of CAD0.8 million in the same period of 2023. The recurring net loss for the year increased to about CAD 25 million from CAD 22 million the previous year, while operating cash flow also saw a decrease due to reduced sales volume. These financial results indicate ongoing challenges for Sunshine Oilsands in maintaining profitability and cash flow, which may affect its market position and stakeholder confidence.
More about Sunshine Oilsands
Sunshine Oilsands Ltd. is a corporation incorporated under the Business Corporations Act of the Province of Alberta, Canada, with limited liability. The company is listed on the Hong Kong Stock Exchange and operates within the petroleum industry, focusing on the exploration and development of oil sands resources.
YTD Price Performance: -28.33%
Average Trading Volume: 245
Technical Sentiment Signal: Strong Buy
Current Market Cap: $11.11M
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