LONDON (Alliance News) - Rambler Metals & Mining PLC said Wednesday its first quarter loss deepened year-on-year on higher net financing expenses.
For the first quarter to March end, the copper and gold producer reported a pretax loss of USD6.1 million, widened from USD3.9 million pretax loss recorded in the comparative year ago period.
The widened loss was mainly driven by a loss on the derivative financial instrument and exchange losses, the company said.
The company reported a earnings before interest, taxes, depreciation and amortisation loss of USD3.3 million versus USD1.5 million in the same period a year ago.
Revenue for the period increased 9% to USD6.2 million, from USD5.7 million year-on-year, but it was 26% down compared with the final quarter of 2017 at USD8.4 million.
Shares in the mining company were untraded at 5.62 pence each.
