25th Nov 2024 12:30
BWA Group PLC - company which has mineral exploration licences in Cameroon and Canada - Pretax loss widens to GBP156,060 in the financial year that ended June 30 from GBP53,202 in the 18 months to June 30, 2023. Income from management fees declines by 46% to GBP260,000 from GBP480,000. Administrative costs decrease 9.2% to GBP393,040 from GBP432,882. Chair Jonathan Wearing says: "The last financial year has been one of progress for the company, both in terms of settling the dispute around Kings Of The North and our exploration activities in Cameroon. Since financial year-end Peter Taylor, formerly the chief executive officer of Pathfinder Minerals PLC, has joined the board, bringing a wealth of mining experience and knowledge of working in Cameroon. Further exploration drilling has been undertaken in the Dehane 2 licence area and is currently underway in Dehane 1, financed by further equity investment of GBP450,000 raised towards the target of GBP1million set by the board. The results of sample analysis from the Dehane 1 and 2 areas will be announced in due course."
Current stock price: 0.40 pence per share, last traded on October 24 on Aquis in London
12-month change: down 8.7%
By Tom Budszus, Alliance News slot editor
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