News Column

Stellar Resources Widens Losses In 2013

June 27, 2014

Rowena Harris-Doughty

LONDON (Alliance News) - Stellar Resources PLC Friday said it widened its losses in 2013, largely due to cost increases.

The exploratory mining company reported a pretax loss of GBP478,000 in 2013, compared with a pretax loss of GBP125,000 in 2012, as administrative costs and share based payments increased.

In 2012, it also got a GBP218,000 payment, after a loan to Hambric Sports Management LLC was written-off.

The company said it held current assets including cash at year end of GBP2.6 million, compared with only GBP315,000 in 2012.

Stellar Resources shares were down 9.9% Friday afternoon at 0.676 pence.

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Source: Alliance News

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