The metals exploration and development company, which is yet to produce any revenues, said its pretax loss narrowed to
The company said the reduction in its losses came from a fall in administrative expenses and share-based payment expenses during the period.
During the period, Sula completed a range of new tests on its gold and iron resources, while an independent valuation of its Ferensola site during 2013 suggested a minimum value for the licence of
The company is currently developing JORC compliant resource estimates for the iron ore assets at its Ferensola sites, which it expects to complete by the end of 2014.
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