3rd Jun 2015 08:20
LONDON (Alliance News) - Eurasia Mining PLC Wednesday reported a narrowed loss for 2014, thanks to the reversal of a loss on the revised period of a repayment of a loan made to a joint venture.
The platinum group metals explorer and developer in Russia, which is currently making little in the way of revenue, reported a GBP502,500 loss for 2014, compared with a GBP750,339 loss in 2013, as it booked a GBP921,184 reversal of the loss on the loan partly offset by a GBP861,954 loss mainly related to foreign exchange losses.
Eurasia, which is also looking at potential gold projects in Russia that are close to production, had GBP210,160 in cash and cash equivalents at the end of 2014, down from GBP361,087 a year earlier.
Eurasia Mining shares were down 9.0% at 0.660 pence Wednesday morning.
By Steve McGrath; [email protected]; @stevemcgrath1
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