27th Aug 2015 15:27
LONDON (Alliance News) - Minco PLC Thursday said it made a profit in the first half of 2015, having suffered a loss in the first half of 2014, as it benefited from moves in foreign exchange rates.
The exploration and development company said it made a profit in the six months ended June 30 of USD82,000, after it made a USD487,000 loss in the same period the year before. It said that the profit included a foreign exchange gain of USD550,000, compared to a gain of only USD66,000 the prior year.
During the period, Minco invested almost USD600,000 on exploration of its mineral properties, of which the largest amounts were expended on the Buchans zinc lead project in central Newfoundland and on the Pennines zinc exploration project in northern England, it said.
Shares in Minco were untraded on Thursday, last quoted at 1.12 pence.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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