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13 Sep 2019 | 07:28

Metals Exploration books first-half loss as expenses weigh

Mining group Metals Exploration booked a first-half loss after rising revenue was overshadowed by higher finance and administrative costs.

Pre-tax losses for the six months through June amounted to $8.3m, compared to losses of $14.0m on-year.

Revenue rose by almost a quarter to $40.3m, up from $31.5m on-year.

Gold production rose 34% to 30,774 ounces.

Restructuring negotiations with lenders continued to progress, with a standstill agreement in place, the company said.

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