20th Jun 2014 09:31
LONDON (Alliance News) - Great Western Mining Corporation PLC Friday reported a wider loss for 2013 as administrative costs rose.
The mineral exploration company with 73 square kilometres of mineral claims in south-west Nevada isn't yet earning and revenue and therefore its profit and loss account is all down to spending and finance costs.
Its net loss widened to EUR448,319 in 2013, from EUR369,186, as administrative costs rose. The company completed a maiden 2,580 feet drilling programme on a copper target during the year
It has now started a second drilling programme to try and establish an inferred resources over the M2-Smith copper target, as well as a first drilling programme over the Target 4 copper-gold prospect.
Its shares were down 0.7%at 0.74 pence Friday morning.
By Steve McGrath; [email protected]; @SteveMcGrath1
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Great Western