11th Aug 2015 08:08
LONDON (Alliance News) - Canada-based exploration and development company Aureus Mining Inc Tuesday posted a widened pretax loss for the first half of 2015.
For the half year to end-June the company recorded a loss of USD4.9 million, widened from a loss of USD2.3 million a year before, mostly as a result of a warrant derivative liability loss of USD2.1 million.
Aureus is not yet revenue producing.
The company has assets including the New Liberty Gold Mine in Liberia, where it recently poured its first gold in June, and work is continuing on commissioning the plant for full-scale production. The mine is expected to have an eight-year lift and annual production of 119,000 ounces in its first six years of production.
It also has a gold exploration permit in Cameroon.
Shares in Aureus Mining were up 0.6% at 20.50 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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