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Chrometco narrows H1 loss to R1.86m

I-Net Bridge | Tue, 09 Feb 2010 12:35
[miningmx.com] -- Chrometco, which is focused on the mining, concentrating and beneficiation of various minerals, on Tuesday reported the narrowing of its first half net loss after it released reviewed interim results.

According to the reviewed numbers, the company posted a net loss of R1.86m for the six months to end August 2009, compared to a net loss of R2.94m in the six months to end August 2008.

A headline loss of 1.01c a share was reported for the first half, against a first half headline loss of 1.55c a share the year before.

During the period under review, the group focused its attention on the finalisation of the sale of its chrome ore reserve, the acquisition of Lime-Chem as well as the acquisition of mineral rights, and business opportunities in South Africa and elsewhere in Africa.

It said it also focused on the optimisation of the allocation of capital resources.


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