In a statement,
The loss was comprised of administration expenses of
The loss is stated after crediting a non-cash amount of
"We believe the company is well placed to make further progress during the second half of the financial year and we look forward to advising shareholders of this progress on a regular basis," Cheetham said in a statement.
"Undoubtedly the news highlights of the year so far have been the result of drilling on the
"At 38.4 million tonnes grading 10.4% CaF2 (fluorspar) the MB Mineral Resource more than doubles the amount of fluorspar now contained in the company's reported Mineral Resources at its three fluorspar projects in
The company has started metallurgical testwork on the MB project drill samples and is planning a programme of follow up drilling.
"Mineralisation remains open in all directions and at depth. A number of holes are likely to test deeper in the Central Area, where recent holes ended in higher grade mineralisation, and laterally in potentially shallow mineralised positions. It is a very exciting time for this project as the true size of the deposit, already large, is yet to be revealed," the Chairman said.
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