08:35 AM EDT, 09/23/2024 (MT Newswires) -- Troilus Gold ( CHXMF ) on Monday said it restated fiscal third-quarter results filed in June after its auditors decided to change the way an investment is booked.

Troilus said it had classified an investment in Prospector Metals as an investment in securities under international financial rules. However auditors determined Troilus, which holds an 18% stake in Prospector, "has significant influence due to its board nomination rights and shareholdings. Consequently, the investment has been classified as an investment in associate, accounted for using the equity method".

The company said the restatement is a non-cash measure and does not affect its cash position.

"All other disclosure in the amended and restated financial statements and corresponding amended MD&A remains essentially the same as when such documents were originally filed," it said.

Also on Monday, Troilus said it installed solar and wind-power generation at its Troilus Gold ( CHXMF ) project in Quebec. The company said it installed 500 solar panels and a wind turbine to supplement the hydro power its receives from Hydro-Quebec.

Troilus shares closed down $0.015 to $0.37 Friday on the Toronto Stock Exchange.