27th Nov 2015 12:23
LONDON (Alliance News) - Namibian Resources PLC on Friday reported a narrowed pretax loss in the first half of its financial year and said it is planning to sell the mobile plant from the Sonnberg diamond mine.
The mining company said its pretax loss in the six months ended August 31 narrowed to GBP52,254 from GBP86,942 in the same period the year before.
It said that production at its Sonnberg diamond mine is not expected to recommence and that it has signed a contract for the sale of the mobile plant.
The Sonnberg mine, in the restricted Sperrgebiet area in the Luderitz district of Namibia, is Namibian Resources' only asset, but it is looking at other mining opportunities in Southern Africa, primarily in copper and coal.
"The company remains involved in evaluating and negotiating potential acquisitions as discussed in the last annual report and I hope to be in a position to give further details in the near future," Chairman Brian Moritz said in a statement.
Shares in Namibian Resources were trading down 20% at 0.300 pence on Friday afternoon.
By Karolina Kaminska; [email protected] @KarolinaAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.