Friday May 16, 09:17 AM
Chaarat Gold full year loss widens to $6.54 mln from $3.31 mln
MUMBAI (Thomson Financial) - Chaarat Gold Holdings Ltd. said its full-year loss widened on higher exploration expenses.
The AIM-listed mining company said for the year ended December 31, its loss widened to $6.54 million from $3.14 million, on higher exploration expenses recorded at $5.29 million as against $2.69 million.
The company added its capital raised through its initial public offering amounted to $16.4 million net and will be used to fund the planned levels of expenditure into 2009.
The company said it has commenced a scoping study, which is scheduled for completion during the second quarter of 2008.
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