LONDON (Alliance News) - Tengri Resources on Wednesday said its pretax loss narrowed in the first half as a big foreign exchange loss booked a year earlier did no repeat.
The company's pretax loss in the half to the end of June was USD2.0 million, narrowed from USD3.6 million a year earlier when it booked a USD2.9 million foreign exchange loss, which narrowed significantly in the first half of 2015. The company made USD7,063 in revenue, down from USD83,505.
Tengri has been focused on the Taldybulak gold and copper project in the Kyrgyz Republic, where it has completed eleven diamond drill holes as part of the first phase of drilling.
In early July, the company said it received assay results for the first five drill holes at Taldybulak with significant gold and copper intersections in each drill hole. Tengri said the drilling results also confirmed that the deposit's gold and copper grades increase with depth.
Tengri shares were untraded on Wednesday, having last traded at 3.15 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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