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Metals exploration and development company Greatland Gold said annual losses widened as explorations costs jumped.
For the six months ended 31 December 2019, pre-tax losses widened to $2.62m from $1.46m on-year as expenses jumped to $1.88m from £0.94m.
The company had yet to generate turnover.
'Looking ahead, we will continue to focus on moving our portfolio of assets up the value curve, especially in the Paterson, which we regard as the leading frontier in Australia for the discovery of tier-one, gold-copper deposits,' the company said.
'Beyond the exciting progress at Havieron, we have identified over a dozen targets in the region, many of which display similar geophysical signatures to Havieron, and drilling of these targets represents a strategic priority for Greatland in 2020,' it added.
At 8:53am: (LON:GGP) Greatland Gold PLC share price was -0.3p at 4.35p