27th Sep 2013 11:27
LONDON (Alliance News) - Shares In Red Leopard Holdings PLC dropped 15% Friday as it posted narrowed pretax losses and continued its transition into a mineral-focused investing company from a property firm.
Red Leopard shares were trading down 15% at 0.550 pence midday Friday.
The company posted a pretax loss of GBP80,977, widened from GBP92,096 in the previous year. It posted no revenues. Its loss was equivalent to its administration expenses.
Red Leopard said that it had placed 70.0 million new shares in order to raise GBP350,000 which would allow it to implement the first stages of work at its mineral properties. The remainder of proceeds would be used as working capital, it said.
Red Leopard said its shareholders on Tuesday approved its previously announced acquisition of Red Leopard Mining Inc. for GBP600,000. Red Leopard Mining has silver claims in the US state of Idaho.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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