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Savannah Resource losses deepen following Oman asset sale
StockMarketWire.com
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Mining group Savannah Resource posted a deeper annual loss as it continued to develop its Mina do Barroso lithium project in Portugal and sold its Oman interests.
Pre-tax losses for the year through December amounted to £8.3 million, compared to year-on-year losses of £3.8 million, and included a £5.4 million loss on the discontinued Oman operations.
Cash at year end was £2 million.
A public consultation on the environmental impact assessment for Mina do Barroso was initiated in April.
The key milestone of a 'declaration of environmental impact' was expected later this year, the company said.
Story provided by StockMarketWire.com
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