LONDON (Alliance News) - Europa Metals Ltd on Friday reported its interim loss widened as exploration spend increased.
The firm's pretax loss for the half-year to December 31 widened to AUD1.5 million from AUD712,548 a year ago.
This was as exploration spend rose to AUD958,396 from AUD180,019 a year ago, and the company received a much smaller foreign exchange gain of AUD4,369, compared to AUD25,787 a year before.
In 2019, subject to funding, Europa said it plans to complete an infill drilling campaign to target the high-grade core of the Toral deposit. The drilling aims to increase confidence in the resource estimate to the JORC Indicated category, which will be the subject of further investigation as part of planned pre-feasibility and feasibility studies.
In London, the stock was down 16% at 0.0280 pence on Friday, while in Johannesburg, Europa was untraded at ZAR0.01.
Europa Metals (EUZ)