(Alliance News) - Keras Resources PLC on Wednesday said extra costs and non-repeat of gains resulted in widened loss in its most recently ended financial year.
The AIM-listed mineral resource company reported a loss of GBP1.2 million for the year to the end of September 2020 compared to loss of GBP471,000 made the year before.
However, the company said the results of the two periods are not comparable as the previous year includes the positive surplus of GBP681,000 from the bulk sample produced at Nayega, while loss for the most recent financial year was worsened by the costs of discontinuing the previous share appreciation rights scheme.
There was no turnover in the year, but commercial sales have commenced in the company's current financial year, it said.
Keras Resources shares were trading 1.7% lower in London on Wednesday morning at 0.12 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Keras Res (KRS)