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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 C$3.0 million, around $2.3 million, from C$3.5 million a year prior, the Northern Ireland-focused gold producer said.
Working capital deficit decreased to C$3.7 million from C$4.5 million. Administrative expenses fell to C$2.6 million from C$3.2 million.
However, the Toronto-based firm's cash balance dropped to C$903,435 from C$6.1 million.
Galantas shares were 1.4% higher at 35.50 pence each in London on Friday morning.
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