LONDON (Alliance News) - China Africa Resources PLC on Wednesday said it spent the first half of 2016 reviewing options to fund a feasibility study for the Berg Aukas lead and zinc mine in Namibia as its pretax loss narrowed.
The company made a pretax loss of USD237,000 in the half to the end of June, compared to a USD304,000 loss a year prior. It made no revenue in the period but implemented cost-cutting measures.
However, China Africa said to continue meeting working capital and development cost needs, it will have to raise funding, and there is presently no certainty this will happen.
Shares in China Africa were untraded on Wednesday, having last traded at 3.03 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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