30th Jun 2023 13:55
(Alliance News) - Fulcrum Metals PLC said on Friday that its loss had widened following the company's admission to the AIM market.
Fulcrum Metals, a Canada-focused mineral exploration and development company, said its interim loss for the six months ended March 31 widened to GBP1.2 million from just GBP54,901 in the same period the year prior.
This loss was driven by an exceptional item cost of GBP841,192 that was incurred on the admission to the AIM market on the London Stock Exchange in February. Administration expenses, meanwhile, rose to GBP382,985 from GBP48,060.
Fulcrum listed on AIM earlier this year, raising GBP3.0 million at 17.5 pence per share. Shares in Fulcrum Metals were untraded in London on Friday afternoon, last quoted at 15.09 pence.
Chief Executive Officer Ryan Mee said: "Fulcrum has a highly prospective portfolio of projects in one of the most attractive mining jurisdictions in the world and a highly aggressive growth strategy.
"Looking ahead, we will continue to build on the success of our exploration work at our flagship Schreiber-Hemlo project to increase the value and ultimate commercialisation of the project."
By Will Neill, Alliance News reporter
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