22nd Jun 2026 12:08
(Alliance News) - Lexington Gold Ltd on Monday reported a loss in 2025 despite what it called a year of "steady" operational, technical and corporate progress.
The gold explorer, with assets in the US and South Africa said its pretax loss narrowed to USD804,000 in 2025 from USD1.4 million the year prior. The prior year included a USD792,000 impairment charge against Project Argo compared to nil in 2024.
Operating expenses edged up to USD950,000 from USD881,000. Basic and diluted losses per share were 0.13 US cents compared to 15 cents.
Net cash declined to USD300,000 at the year-end from USD900,000.
"2025 was a year of steady operational, technical and corporate progress for Lexington Gold," the firm said in a statement.
"During the year, we progressed key technical studies, expanded and strengthened our South African licence position, completed a further drilling programme at Jennings-Pioneer in the United States, received encouraging assay results and continued to build the company's capital markets profile," it added.
Shares in the firm fell 9.5% to 2.94 pence each in London on Monday.
By Jeremy Cutler, Alliance News reporter
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