29th May 2015 09:40
LONDON (Alliance News) - Minco PLC on Friday saw its shares surge higher as the company said its posted a profit in the first quarter of the year due to a foreign exchange gain.
Minco said its profit for the first quarter was USD482,000, compared to a USD271,000 loss a year earlier, due to a USD665,000 foreign exchange gain it booked in the quarter.
The company restarted drilling work at the Buchans project in Central Newfoundland in April and is also making progress on the Woodstock manganese project in Canada.
Shares in Minco were up 59% to 2.19 pence on Friday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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