25th May 2018 10:31
LONDON (Alliance News) - Keras Resources PLC said Friday its loss for the six months to end-March narrowed year-on-year on a "significant reduction" in corporate costs.
Keras reported a pretax loss of GBP177,000 down from GBP706,000 for the same period last year.
For the first half of 2017, the mineral resources company reported finance costs of GBP250,000. For the same period this year, the company did not report any finance cost.
The company said the floating of Calidus Resources Ltd, in which it hold a 36% stake, on Australian Stock Exchange was a key development to 2017.
For the future, the company said it is focusing on the development of its assets in Togo.
"Developing our manganese assets in Togo into a producing mine has now become an operational priority," Chairman Brian Moritz said.
"In addition, the company is focussing on identifying new projects to add to our portfolio with a focus on near term, cash generative opportunities, and we look forward to presenting shareholders with updates on these developments in due course."
Keras shares were trading up 13% at 0.35 pence.
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