24th Nov 2023 16:29
China Nonferrous Gold Ltd - Cayman Islands-based mineral exploration and development company operating the Pakrut gold project in Tajikistan - At the request of the company, shares in China Nonferrous Gold were suspended from trading on AIM on Friday, pending clarification of the company's financial position.
In late September, China Nonferrous Gold reported a widened half-year loss due to higher finance costs on the back of rising interest rates. Pretax loss in the first half of 2023 widened to USD8.1 million, from USD946,000 a year prior. Revenue fell slightly to USD30.2 million from USD30.7 million. Finance costs doubled to USD12.0 million from USD5.9 million, with China Nonferrous citing higher market interest rates.
By Greg Rosenvinge, Alliance News senior reporter
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