27th Sep 2013 12:54
LONDON (Alliance News) - Golden Saint Resources Ltd. Friday said it made a pretax loss of USD551,952 for the six months ending June 30.
The diamond and gold mining, polishing and distribution company, which was incorporated in March 2013, posted a USD533,062 listing expense and a USD18,890 administrative expense.
The company is awaiting export licenses at its three diamond and gold mines in Sierra Leone, which it is currently developing for production.
The company said it completed a memorandum of understanding with Solid Gold Jewellers Pty Ltd. during the period, for the evaluation and assessment of the company's initial shipments of diamonds in Australia towards distribution in Asia.
Golden Saint estimates that it will take roughly 90 days between the product arriving in Australia until its polished and ready to move on.
"We will soon make a couple of announcements with regards to the export license and shipments of diamonds, expect that in the next 60 days," Executive Chairman, Cyril D'Silva told Alliance News in an exclusive interview in September.
Golden Saint shares were up 2.37% to 11.90 pence Friday.
By Tom McIvor; [email protected]; @TomMcIvor1
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