Landore Resources reports a loss of £732,975 for the six months to the end of June - down from £1,180,977 last time.
The group says the results were in line with expectations and substantial savings have been made in relation to administration costs which included a non-cash charge of £245,864 relating to the grant of share options. Exploration costs were £250,108 (2015: £466,518).
During the period £1,228,831 (2015: £nil) was raised from the issue of shares. In addition the sale of the Root Lake project, which completed on 11 July 2016, raised a total of approximately C$330,000 (approximately £196,000).
As a result, the group has been able to fund and make plans for follow up drilling in October 2016,