LONDON (Alliance News) - Condor Gold PLC Wednesday said its pretax losses almost doubled in its first-half as administrative costs and foreign exchange losses hit the company.
The AIM-listed gold exploration and development company, with operations in Nicaragua, said its pretax losses widened to GBP1.4 million from GBP784,040 for the six months ended June 30.
The company is yet to post any sales, and its administrative expenses increased to GBP1.2 million from GBP783,794 as the company set up preliminary economic assessments and increased its drilling assay tests.
The company also was hit by a foreign exchange loss of GBP250,590.
Condor Gold shares were up 0.48% to 126.60 pence Wednesday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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Condor Gold (CNR)