Herencia Group has reported a loss of £2,943,672 for the year ended 31 December 2016, compared to a loss of £13,977,097 for 2015.
The Company said the loss for the year included a charge for impairment of £875,000 for goodwill on acquisition (2015: nil). The 2015 result included an impairment of £10,908,123 for exploration and evaluation assets.
Herencia added that the reduction in the loss reflects the significant measures that the board of directors has put in place to reduce administrative expenses, the sale of the Paguanta project and lower impairment charges.
The directors do not recommend any distribution by way of a dividend for the financial year ended 31 December 2016.
At 1:45pm: (LON:HER) Herencia Resources PLC share price was 0p at 0.03p