27th Aug 2015 09:58
LONDON (Alliance News) - CIC Gold Group Ltd on Thursday posted a pretax loss for the six months to the end of June, following its flotation in London in June.
CIC said its pretax loss for the period was GBP1.1 million, mostly due to costs related to its initial public offering. The company has only just begun operations and so said there are "no financial and operational highlights" to report for the period.
CIC listed in June with the plan of making acquisitions in "undervalued gold properties where gold is the principal commodity or gold mining is the principal activity, held by quoted and private companies with strong underlying fundamentals suitable of producing substantial increases in value by funding and applying de-risking strategies and other corporate actions."
Shares in CIC were up 8.7% on Thursday to 2.174 pence, though well below its IPO price of 6.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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