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18 Apr 2019 | 08:35

Galantas Gold reports wider losses as costs offset revenue

Galantas Gold Corporation reported a wider first-half pre-tax loss as increased costs offset a jump in revenue. For 2018, the company reported a pre-tax loss of C$2.89m compared with a loss of C$2.08m a year earlier, while revenue more than doubled to C$0.071m from C$0.035m a year earlier.

The wider net losses was attributed to a faster pace of depreciation, which totalled £0.359m for the year, compared with £0.203m a year earlier.

The company had cash balances of C$6.19m at December 31, 2018 compared to C$0.780m a year earlier.

At 8:35am: (LON:GAL) Galantas Gold Corporation share price was 0p at 4.75p

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