Altus Strategies books annual loss owing to exploration, administrative costs

Writer, Stock Market Wire
Tuesday, April 30, 2019 - 14:43

Mining project generator Altus Strategies booked a full-year loss, owing to administrative and exploration spending.

Pre-tax losses for the year through December amounted to £1.5m, compared to losses of £1.9m on-year.

Chairman David Netherway said 2018 was a 'significant year' for the company.

'We materially expanded the firm's assets and shareholder base by way of our plan of arrangement with Legend Gold Corp, which was listed on the TSX Venture exchange in Toronto,' he said.

'From a financial standpoint the deal brought intangible assets worth £3.7m on to our balance sheet and, critically, the deal expanded our portfolio of projects across Africa, with six new and exceptionally prospective advanced gold licences in Mali.'

At 2:43pm: (LON:ALS) Altus Strategies Plc share price was 0p at 3.75p


Related content

Altus Strategies eyes joint-venture talks with other parties after Indiana deal falls through

Altus Strategies said the proposed joint-venture deal with Indiana fell through after the latter failed to meet an extended deadline. But the company added it...

Mon, 17/06/2019 - 09:45


Altus Strategies outlines drill targets over three prospects in Western Mali

Altus Strategies outlined its drill targets at three prospects across its Djelimangara and Sebessounkoto Sud gold licences in Western Mali.

The company defined three priority...

Thu, 06/06/2019 - 10:06


Altus Strategies granted Zager exploration licence in Ethiopia

Mining project prospector Altus Strategies said its Ethiopian unit had been granted the Zager exploration licence.

The play targeted volcanogenic massive sulphide hosted copper and...

Mon, 03/06/2019 - 14:38


Altus Strategies extends Mali mine joint venture with Resolute Mining

Mining project generator Altus Strategies said it had extended a joint venture with Resolute Mining in southern Mali extended by two years to May 2021....

Wed, 08/05/2019 - 14:51


Altus Strategies grants due diligence extension to Indiana Resources over Mali assets

Altus Strategies said it had extended an exclusive due diligence period for Indiana Resources on its Lakanfla and Tabakorole gold projects in Mail.

Indiana has...

Fri, 03/05/2019 - 13:48