(Alliance News) - Galantas Gold Corp on Friday posted a narrowed net loss as its working capital deficit and administrative costs narrowed, but cash dropped significantly.
Net loss in the six-months to June 30 narrowed to CAD3.0 million, around USD2.3 million, from CAD3.5 million a year prior, the Northern Ireland-focused gold producer said.
Working capital deficit decreased to CAD3.7 million from CAD4.5 million. Administrative expenses fell to CAD2.6 million from CAD3.2 million.
However, the Toronto-based firm's cash balance dropped to CAD903,435 from CAD6.1 million.
Galantas shares were 1.4% higher at 35.50 pence each in London on Friday morning.
By Tom Budszus; tombudszus@alliancenews.com
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Galantas Gold (GAL)