30th May 2019 11:20
LONDON (Alliance News) - Sunrise Resources PLC on Thursday reported a narrowed loss for the six months to March-end due to absence of impairment charges and pre-licence exploration lower costs.
The company, focused on the development of its CS pozzolan-perlite project in Nevada, US, posted a pretax loss of GBP157,139 compared with GBP174,517 loss in the same period a year ago.
Pre-licence exploration costs fell to GBP2,281 from GBP5,786 in the half, while the company did not incur any impairment costs in the first half of the current financial year compared to GBP17,433 last year.
Meanwhile, administration costs rose to GBP155,241 from GBP150,760.
Looking ahead, Chair Patrick Cheetham said: "In anticipation of a busy second half of the financial year we look forward to reporting further progress as we develop the CS Project toward production."
Sunrise resources shares were trading down 5.8% at 0.099 pence each.
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