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FinnAust Mining's annual loss widens £2m

Tue, 26th Aug 2014 16:00

Finland and Austria-focused miner Finnaust Mining saw its loss for the financial year ended 30 June 2014 rise to £2.4m from £400,786 in the same period a year earlier.The company, which is yet to generate any revenue, said impairment costs and higher expenses had contributed to an increased net loss.Finnaust remained positive for the future after its fully-funded drill programme at its Hammaslathi Copper Project in southern Finland identified a new mineralised area, which could be extended to the north and to the south of the current site."Our programme has already been highly productive, having led to the possible discovery of at least four separate plunging lodes at the Hammaslahti Project," said group executive director Alastair Clayton."With drilling on-going, we are excited to receive further results in the coming months, which we are confident will add value to our portfolio for the benefit of shareholders."The group said that in December last year it had to pay a £1.2m goodwill impairment charge through a business combination with Finland Investments, while administrative expenses rose from just over £400,000 to £1.2m.Finnaust shares were down 4.35% to 2.75p at 15:01 on Tuesday.DC
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31 Jan 2017 11:08

FinnAust makes two senior appointments as Pituffik progresses

(ShareCast News) - Greenland and Finland-focused FinnAust Mining announced on Tuesday that it has finalised two senior appointments to strengthen its development team as it continues to evaluate commercialisation of the Pituffik Titanium Project. The AIM-traded firm confirmed Hans Jensen has been ap

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25 Jan 2017 10:46

FinnAust appoints experienced marketing advisor

(ShareCast News) - Greenland and Finland-focused FinnAust Mining announced on Wednesday that it has engaged the services of Titanium Industry Global Advisory as marketing advisor to the company. The AIM-traded firm said TIGA is an advisory firm specialising in providing strategic and commercial dire

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16 Jan 2017 13:04

FinnAust posts positive test data from Pituffik

(ShareCast News) - Greenland and Finland-focused FinnAust Mining updated the market on its metallurgical test work programme at its Pituffik Titanium Project in Greenland on Monday. The AIM-traded company said Allied Mineral Laboratories was engaged in October 2016 to complete the next phase of proc

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5 Jan 2017 07:44

FinnAust Mining buys Avannaa, gains new Greenland exploration licence

(ShareCast News) - Titanium and ilmenite explorer FinnAust Mining has bought Avannaa Exploration, after gaining approval from the Greenland government, and has won a new licence, which "strengthens" its footprint within country. FinnAust bought Avannaa from Capricorn Oil, a subsidiary of Cairn energ

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22 Nov 2016 13:24

FinnAust In Talks To Raise GBP5 Million For Pittufik Project (ALLISS)

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22 Nov 2016 13:19

FinnAust Mining in talks over share placing

(ShareCast News) - AIM-listed FinnAust Mining said it is in discussions with investors to potentially raise up to £5m from a placing of new ordinary shares to fund feasibility studies, among other things. The group said the proceeds would also be used to fund an environmental impact assessment, a so

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5 Oct 2016 15:11

UK Shareholder Meetings Calendar - Next 7 Days

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4 Oct 2016 10:32

FinnAust Mining shares rise as Pituffik development continues

(ShareCast News) - Greenland and Finland-focused company FinnAust Mining announced "significant advances" on Tuesday, in its optimising of the metallurgical processes required to produce an ilmenite concentrate from the Pituffik Titanium Project in Greenland. The AIM-traded firm said the "successful

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27 Sep 2016 14:16

FinnAust announces completion of 2016 work programme

(ShareCast News) - Greenland and Finland-focused company FinnAust Mining announced on Tuesday that it has completed its 2016 work programme at the Pituffik Titanium Project in Greenland. The AIM-traded firm said the programme was designed in consultation with SRK Exploration Services, and executed b

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19 Sep 2016 08:49

FinnAust Mining's full year pre-tax loss widens due to recent acqusitions

(ShareCast News) - Titanium and ilmenite explorer FinnAust Mining's full year pre-tax loss widened due to the cost of recent acquisitions, with management adding it was wary of the impact the Brexit vote would have on future trading and performance. For the year ended 30 June, loss before tax widene

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14 Sep 2016 08:59

FinnAust Gets Green Light From Greenland For Social Impact Assessment

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5 Sep 2016 11:04

FinnAust Mining takes over Cairn Energy´s Avannaa subsidiary

(ShareCast News) - FinnAust Mining announced the purchase of Greenland-focused Avannaa through an all-share deal, giving it access to new low-cost, high-quaility assets. The miner would pay Capricorn Oil, a subsidiary of Cairn Energy, $500,000 through the issuance of new shares. Significantly, two

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5 Sep 2016 07:47

FinnAust Expands Greenland Presence With Avannaa Exploration Deal (ALLISS)

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24 Aug 2016 15:07

FinnAust Mining finds significant resource scale at Greenland titanium mine

(ShareCast News) - Precious and base metals explorer FinnAust Mining's shares rose as it said it found resources of significant scale at its pure Pituffik titanium mining project in Greenland. Extensive trenching over the main project areas identified large volumes of ilmenite rich sand across many

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19 Jul 2016 09:19

FinnAust Receives Approval For Greenland Pituffik Titanium Project

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