27th Jun 2014 15:20
LONDON (Alliance News) - Stellar Resources PLC Friday said it widened its losses in 2013, largely due to cost increases.
The exploratory mining company reported a pretax loss of GBP478,000 in 2013, compared with a pretax loss of GBP125,000 in 2012, as administrative costs and share based payments increased.
In 2012, it also got a GBP218,000 payment, after a loan to Hambric Sports Management LLC was written-off.
The company said it held current assets including cash at year end of GBP2.6 million, compared with only GBP315,000 in 2012.
Stellar Resources shares were down 9.9% Friday afternoon at 0.676 pence.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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