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  5. Metminco Loss Narrows As It Presses On Towards Gold Production

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Metminco Loss Narrows As It Presses On Towards Gold Production

Tue, 03rd Apr 2018 11:35

LONDON (Alliance News) - Exploration firm Metminco Ltd reported on Tuesday a significantly narrowed loss for 2017, while its cash position was also stronger year-on-year.

Metminco's portfolio includes the Quinchia project in Colombia and the Loica, Vallecillo, and Mollacas projects in Chile.

Australia and UK-listed Metminco posted a pretax loss of AUD35.2 million for 2017 compared to AUD124.1 million in 2016. The latter year included a AUD121.5 million loss on the loss of control of a subsidiary.

There was no revenue in 2017, compared to AUD389.00 in 2016 due to interest received from "other persons".

Metminco's cash position in 2017 increased to AUD834,377 compared to AUD71,548 the year before, mainly to due additional fundraising and the sale of its interest in the Los Calatos project for AUD6.6 million.

Going forward, the company is to keep exploring and developing its assets, with a plan to become a gold producer "in the near term".

Shares were down 17% on Tuesday at 0.50 pence each.

More News
4 Oct 2018 09:54

Metminco Shares WIll Remain Suspended On AIM Until Cancellation (ALLISS)

LONDON (Alliance News) - Metminco Ltd said Thursday its London AIM market shares will not trade again before their cancellation on October 17.The company's shares will continue to be on

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3 Oct 2018 10:19

Metminco Completes Placing, Plans AUD2.5 Million Rights Issue (ALLISS)

LONDON (Alliance News) - Metminco Ltd said Wednesday it has raised AUD540,000, approximately GBP297,066, from its share placing, and is planning to raise further AUD2.5 million via rights was via

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19 Sep 2018 11:47

Metminco To Acquire Majority Stake In Nickel And Bauxite Projects (ALLISS)

LONDON (Alliance News) - Metminco Ltd said Wednesday that it will acquire majority stake in nickel and bauxite projects located on the Solomon Islands.The company has bought entire share of

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17 Sep 2018 12:59

Metminco Shares Remain Suspended, No Acquisition Announcement Yet (ALLISS)

LONDON (Alliance News) - Metminco Ltd said Monday that its shares will continue to remain suspended from trading as the company is still not "in position to make an announcement regarding a a

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13 Sep 2018 13:26

Metminco narrows losses as disposal fees come off the books

(Sharecast News) - Metminco saw its losses narrow significantly during the first half of its trading year.

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13 Sep 2018 11:09

Metminco Interim Loss Narrows, Shares Suspended Ahead Of Deal (ALLISS)

LONDON (Alliance News) - Metminco Ltd said Thursday that its loss for the first half of the financial year narrowed significantly as the company did not incur losses on disposal of the six months

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30 Aug 2018 11:50

Metminco Shares Rise After Significant Drilling Results At Tesorito

LONDON (Alliance News) - Metminco Ltd shares spiked Thursday as the South American-focused gold producer "took a material step forward" after its most recent drill hole results at in the

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30 Aug 2018 10:40

WINNERS & LOSERS SUMMARY: Crawshaw Sales Slips 2.3%, Stock Slides 47%

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Thursday.----------FTSE 100 - up 0.1%. The energy provider noted that the UK

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31 Jul 2018 12:18

Metminco Says Intercept At Tesorito Suggests Major Mineral System

LONDON (Alliance News) - Metminco Ltd on Tuesday said it intercepted intensive phyllic alteration in most holes of its Tesorito gold prospect in Colombia, which it said suggested a "major the

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22 May 2018 15:10

Metminco To Raise AUD550,00 In 68.7 Million Share Placing (ALLISS)

LONDON (Alliance News) - Metminco Ltd said on Tuesday it has received firm commitments to raise AUD549,887 through a placing of 68.7 million share at a price of AUD0.008 per share.Shares in

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26 Mar 2018 14:56

Metminco To Offer 9.5 Shares For Every 2 Shares In Rights Offer (ALLISS)

LONDON (Alliance News) - Metminco Ltd said Monday it will offer shareholders 9.5 new shares for every two existing shares under a rights offer.The 9.5 shares will be at

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23 Mar 2018 09:42

Metminco Appoints New Chairman, To Raise AUD5.7 Million (ALLISS)

LONDON (Alliance News) - Metminco Ltd said Friday that it has decided to increase the size of the previously announced entitlement issue to raise AUD5.7 million, or as it a as

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19 Mar 2018 12:16

Metminco Non-Executive Director Ram Venkat Steps Down

LONDON (Alliance News) - Miner Metminco Ltd said on Monday Non-Executive Director Ram Venkat has resigned from the company, effective immediately.Venkat, who joined one

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12 Mar 2018 10:30

Metminco Revises Fundraising Timetable, Shares Plummet (ALLISS)

LONDON (Alliance News) - Shares in Metminco Ltd plummeted early Monday as the company revised the timetable for its AUD5.3 million, or GBP3.0 million, due to on

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