Future Metals yearly loss narrows; cites exploration program progress

(Alliance News) - Future Metals NL on Monday reported its annual loss reducing as the revenue-less firm progressed with its exploration programme.

Future Metals is a Perth-based platinum exploration company which started trading on London's AIM market in October 2021. Its shares rose 12% to 7.00 pence each in London on Monday around midday.

Pretax loss in the year that ended June 30 narrowed to USD4.3 million from USD6.3 million a year prior. The company received interest of USD6,823, compared to USD820 year-on-year.

In financial year 2021, Future Metals paid a one-off sum of USD4.1 million in listing expenses. In financial 2022, it paid USD2.0 million in ASX and AIM and share registry fees.

Further, Future Metals said it completed a GBP500,000 placement via issuing 7.1 million shares at 7 pence each to increase liquidity and market presence.

"We progress our exciting exploration programme and scoping study activities over the coming months," said Chief Executive Director Jardee Kininmonth.

By Tom Budszus; tombudszus@alliancenews.com

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