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28 Aug 2018 | 08:31

Galantas net losses widen despite sharp uptick in revenue

Galantas Gold Corporation reported Tuesday a wider first-half net loss despite revenue rising sharply.

For the six months to 30 June, the company reported a net loss of C$ 1.23m compared with a loss of C$1.20m a year earlier, while revenue nearly trebled to $0.057m from £0.019m a year earlier.

The wider net losses was attributed to a faster pace of depreciation, which totalled £0.142m for the half year, compared with £0.091m a year earlier. The company had cash balances of C$0.732m at June 30, compared to C$ 1.682m a year earlier.

At 8:31am: (LON:GAL) Galantas Gold Corporation share price was -0.13p at 5.25p

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