Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Xtract Resources booked an annual loss after higher gold sales nevertheless failed to offset expenses.
Pre-tax losses for the year through December amounted to £736k, compared to losses of £1.3m on-year.
Revenue rose to £892k, up from £166k on-year.
'The period under review has seen the continuation of alluvial mining at our Manica project in Mozambique,' chairman Colin Bird said.
'Up to the year end and beyond, the operation has performed moderately well producing overall positive cashflow at a local operating level.
'We have not reached results to our satisfaction because of adverse technical factors such as high stripping ratios and low grades of gold in gravel.'
At 1:12pm: (LON:XTR) Xtract Resources Plc share price was +0.53p at 1.23p