22nd May 2019 14:58
LONDON (Alliance News) - Katoro Gold PLC on Wednesday reported a significantly narrowed full-year loss on lower exploration costs and non-recurring expenses of its initial public offering.
Katoro reported a pretax loss of GBP479,205 for 2018, sharply slimmer than the GBP1.9 million reported for 2017. The company booked just GBP77,740 in exploration costs in 2018, compared to GBP911,649 in 2017.
In addition, the company did not incur any IPO costs in 2018, versus GBP556,935 in 2017. Katoro was admitted to London's AIM market in May 2017.
Katoro generated no revenue in either period.
Looking ahead, Chair Louis Coetzee said he is "excited" about the potential of the polymetallic Haneti nickel project in Tanzania, and the company is in the process of reviewing and assessing prospective new projects.
Katoro shares were untraded at 0.975 pence on Wednesday.
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