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Katoro Gold annual losses widen as exploration costs jump
StockMarketWire.com
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Exploration and development company Katoro Gold reported annual wider losses as exploration costs increased.
For the year ended 31 December 2020, pre-tax losses widened to £2.56 million from 0.67 million year-on-year.
Exploration expenditure increased to £1.39 million from £0.10 million related to the Blyvoor joint venture exploration.
'At Blyvoor Gold Tailing project, the technical team continue to work towards conclusion of all preparatory work and funding negotiations,' the company said.
'Drilling results from the RAB drill programme carried out at the Haneti project, confirmed the results from previous exploration work done, which was the primary objective,' it added.
Following results from the recently completed RAB drill programme at Haneti, the decision had been made to 'advance the Haneti Nickel PGM Project to deep diamond drilling,' the company said.
At 9:24am: (LON:KAT) Katoro Gold Mining Plc share price was 0p at 2.6p
Story provided by StockMarketWire.com
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