Metminco posts a pre-tax loss of $1.1m for the six months to the end of June - down from $1.9m last time.
Revenue - interest income - fell to $192 from $3,340 but there was a foreign exchange gain of $25,879 against a loss of $270,194 a year ago and administration expenses fell to $116,248 from $131,645.
Managing director William Howe said: "The period has seen the completion of two very significant events for the Company, the first of which resulted in Los Calatos becoming a genuine development option through securing a financial partner and, secondly, our entrance into the gold sector with the acquisition of Miraflores Compania.
"The focus is now firmly on advancing our near term and robust Miraflores Project in Colombia through to Feasibility and construction finance.
"I am pleased we have exited a period of significant headwinds for the sector with two highly promising projects, and we look forward to updating our shareholders as we progress both projects towards development."
At 8:45am: (LON:MNC) Metminco share price was 0p at 0.17p