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

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