LONDON (Alliance News) - Stratmin Global Resources PLC Monday said its pretax loss widened in its first-half as the company moved toward first production during the period.
The graphite production and exploration company, with assets in Madagascar, said its pretax loss widened to GBP1.0 million from GBP707,000 for the six months ended June 30.
The company said its administrative expenses increased to GBP908,000 from GBP369,000 as the company developed its Graphmada site towards production.
The company also posted its first revenues of GBP8,000 during the six month period and graphite production commenced on September 9.
Stratmin shares were down 9.4% to 20.15 pence Monday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
Copyright 2013 Alliance News Limited. All Rights Reserved.
