31st May 2016 16:00
LONDON (Alliance News) - Alexander Mining PLC on Tuesday said its pretax loss was broadly flat in 2015 as a fall in revenue was matched by declining costs, though it said the tough conditions in the mining industry meant it will cast an eye over other possible opportunities.
The company, which is developing the AmmLeach two-step leaching process technology for the mining industry, said its pretax loss for the year to the end of December was GBP849,000, compared to GBP848,000 a year earlier.
Revenue sunk to GBP8,000 from GBP507,000, but operating costs fell in line with the decline in revenue.
Alexander said the "parlous conditions" in the global mining sector had hampered its ambitions to commercialising its technology over the course of the year but said it will continue to work to achieve this in the near future.
The group said it remains confident in the technology, but said it is considering potential complementary acquisitions in the mining sector.
Shares in Alexander closed up 4.4% to 0.12 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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