Investors

2017
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006




2012

Pinetree Capital Ltd. Announces Unaudited Financial Results For The Three Months Ended March 31, 2012


May 10, 2012

TORONTO, Ontario (May 10, 2012) – Pinetree Capital Ltd. (“Pinetree”) (TSX: PNP) today announces its unaudited consolidated financial results for the three months ended March 31, 2012.

For the three months ended March 31, 2012, Pinetree had a net loss of $5 million, as compared to $11 million for the same quarter last year.   For the three months ended March 31, 2012, the Company had net investment losses of $647,000 as compared to $13 million for the same quarter last year.  For the three months ended March 31, 2012, the Company had total expenses of $6 million as compared to $3 million for the same quarter last year.  Loss per share was $0.04 for the three months ended March 31, 2012, as compared to $0.08 for the three months ended March 31, 2011.  

The composition of the fair value of Pinetree’s investment portfolio by sector as at March 31, 2012 as compared to the end of last year is outlined in the following table: 

 
March 31, 2012
December 31, 2011
Sector
($’000)
% of Total
($’000)
% of Total
Resources:
        Precious metals
218,700
52.9
233,771
54.7
        Base metals
62,483
15.1
61,050
14.3
        Potash, lithium and rare earths
42,134
10.2
38,840
9.1
        Oil and gas
39,281
9.5
43,125
10.1
        Uranium
32,969
8.0
28,272
6.6
 Coal
4,280
1.0
5,320
1.2
Total resources
399,847
96.7
410,378
96.0
Technology and other
13,686
3.3
17,291
4.0
Total investments
413,533
100.0
427,669
100.0

As at March 31, 2012, total investments at fair value was $414 million, as compared to $428 million as at December 31, 2011, a decrease of 3.3%.  

Net asset value per share decreased 1.1% to $2.58 as at March 31, 2012, from $2.61 as at December 31, 2011.   

About Pinetree

Pinetree Capital Ltd. ("Pinetree") was incorporated under the laws of the Province of Ontario and its shares are publicly-traded on the Toronto Stock Exchange (“TSX”) under the symbol “PNP”.  Pinetree is a diversified investment and merchant banking firm focused on the small cap market.  Pinetree’s investments are primarily in the resources sector: Precious Metals, Base Metals, Oil and Gas, Potash, Lithium and Rare Earths, Uranium and Coal.  Pinetree’s investment approach is to develop a macro view of a sector, build a position consistent with the view by identifying micro-cap opportunities within that sector, and devise an exit strategy designed to maximize our relative return in light of changing fundamentals and opportunities.  Pinetree is recognized as a value added partner in the resource industry.

Pinetree discloses an unaudited monthly net asset value per share within 15 days after each month-end.  For the latest month-end net asset value per share and for more details about Pinetree and its investments, please visit our website at www.pinetreecapital.com.

Use of Non-GAAP Measures

NAV (net asset value per share) is a non- GAAP (international financial reporting standards) measure calculated as the value of total assets less the value of total liabilities divided by the total number of common shares outstanding as at a specific date.  The term NAV does not have any standardized meaning according to GAAP and therefore may not be comparable to similar measures presented by other companies.  There is no comparable GAAP measure presented in Pinetree’s consolidated financial statements and thus no applicable quantitative reconciliation for such non-GAAP financial measure.  The Company has calculated NAV consistently for many years and believes that NAV can provide information useful to its shareholders in understanding its performance, and may assist in the evaluation of its business relative to that of its peers.

  Investor Relations:
Sheldon Inwentash, CA. Richard Patricio, LL.B.
Chairman & CEO Vice President, Legal and Corporate Affairs
Pinetree Capital Ltd. Pinetree Capital Ltd.
  130 King Street West, Suite 250
Gerry Feldman, CA. Toronto, Ontario, Canada, M5X 1A9
CFO & Vice President, Corporate Development Phone: 416-941-9600
Pinetree Capital Ltd. Email: ir@pinetreecapital.com
  Website: www.pinetreecapital.com

 

©Copyright 2012 Pinetree Capital Ltd.