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LONDON (Alliance News) - Condor Gold PLC said Tuesday its pretax loss for the three months to March-end narrowed year-on-year due to lower administrative expenses.
For the three-month period, the gold exploration and development company reported a pretax loss of GBP602,915, compared with GBP953,260 pretax loss for the same period in 2017. No revenue generated in either financial periods.
Administrative expenses fell to GBP602,915 from GBP953,260
Chairman and Chief Executive Mark Child said: "This has been a very encouraging start to the year for the company and we have made good progress in our permitting process and proving up a major Gold District."
"I am confident that the re-designed mine site infrastructure to avoid resettlement will facilitate the grant of the main permit. We are on track and have had encouraging meetings with key Ministries. I look forward to updating shareholders in the near future."
Condor Gold shares were trading at 40.00 pence each, down 0.6%.
