LONDON (Alliance News) - Aurum Mining PLC posted a narrower first half loss on Thursday as it works to progress its gold joint venture with Ormonde Mining PLC and the Morille tungsten project with Plymouth Minerals Ltd.
Aurum said its pretax loss for the six months to the end of September narrowed to GBP172,000 from GBP259,000 a year earlier. The company does not generate any revenue.
Aurum is working alongside Ormonde Mining PLC on a range of gold projects, but said current activity is very low and, in the short-term, it will refrain from providing more funding.
Elsewhere, the company said significant exploration work has been carried out on the Morille tungsten project, on which Aurum is working with joint venture partner Plymouth Minerals. It said the work done so far has yielded some positive results.
Aurum shares were untraded on Thursday, last quoted at 1.25 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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