Last checked at 
LONDON (Alliance News) - Asiamet Resources Ltd on Tuesday said its pretax loss widened significantly in 2015 as it spent more money on exploration and raised funds through three placements.
Asiamet said its pretax loss for the year to the end of December was USD7.4 million, compared to a USD884,912 loss a year earlier. The group does not make any revenue.
Over the course of the year, Asiamet completed the acquisition of a 40% interest in the Beutong copper project in Indonesia and completed a preliminary economic assessment for the development of the Beruang Kanan Main copper project, also in Indonesia.
The group raised USD4.3 million over the course of the year through three private placements to back its ongoing development work.
Asiamet shares were up 1.7% to 2.92 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
