24th Mar 2015 10:36
LONDON (Alliance News) - Natural resources investment company Leed Resources PLC on Tuesday said its pretax loss narrowed slightly in 2014, in a year when it progressed negotiations which led to an investment in January this year and as it continues to work towards resolving the licence dispute at the Manas coal project.
The company said its pretax loss for 2014 was GBP100,000, compared to GBP115,000 a year earlier.
Leed said it made an investment in Australian miner High Mannor on January 2015, with the negotiations leading to the deal having been carried out the year before. The company is quarrying limestone and processing reconstituted blocks for use in the Western Australian construction industry.
Leed added it is making progress on resolving the licence dispute involving Manas Coal LLC's Kok Kiya project in the Kyrgyz Republic. Leed, which booked an impairment charge on Manas Coal in 2014, said it will continue to work towards to recover value from the project.
Shares in Leed were up 7.7% to 0.07 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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