The iron ore, nickel and copper mining exploration and development company, with operations in the
The company, which is yet to produce any revenues, said it was hit by a massive
Bellzone also said its share of the net loss on its investment in Forecariah also led to a separate charge of
However, the company did manage to offset the losses somewhat by reducing its operating losses, through cuts to its administrative expenses and exploration expenses.
Bellzone said its cash at
The company is currently developing its flagship Kalia project which has a JORC reserve of 7 million tonnes of iron ore in 58% fines per year production at a total capital cost of
"We remain confident in the quality and potential of Kalia as a key resource globally, and will continue to build on the progress made to date," Chief Executive
Bellzone shares were down 8.2% to
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