LONDON (Alliance News) - Scotland focused mineral exploration company Scotgold Resources Ltd Wednesday reported a widened pretax loss for the first half of 2015 as it continued to work on advancing its Cononish Gold and Silver project in the Grampian Highlands.
For the half year to end-June the company reported a pretax loss of USD2.1 million, widened from a pretax loss of USD1.5 million a year before, on revenue of USD10,607, down from USD20,413 a year before, mostly due to higher operating costs.
The company said it continues to examine financing options to bring the project to a development decision. It is conducting a regional stream sediment sampling programme over the wider project area, whilst continuing to evaluate a number of previously identified high grade outcrops in its vicinity.
Shares in the company were up 5.8% at 0.635 pence Wednesday afternoon.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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