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 inks non-binding agreement to sell two gold projects to Desert Gold Ventures

Altus Strategies said it had signed a non-binding term sheet with Desert Gold Ventures to sell the company's Sebessounkoto Sud and Djelimangara gold projects....

Wed, 28/08/2019 - 09:04

Altus Strategies signs terms for JV with Glomin on Lakanfla and Tabakorole gold projects

Altus Strategies said it had signed a non-binding term sheet with Glomin Services for a joint venture on the company's Lakanfla and Tabakorole gold projects...

Thu, 22/08/2019 - 08:55

Altus Strategies makes gold discoveries at Zager project in northern Ethiopia

Altus Strategies said its maiden exploration programme at its Zager project in northern Ethiopia had revealed signs of gold.

The company's maiden programme of prospecting...

Thu, 15/08/2019 - 08:54

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