Source - SMW
Mining company Xtract Resources posted a full-year loss after a rise in gold sales was more than offset by expenses.

Pre-tax losses for the year through December amounted to $1.09m, compared to losses of $0.74m on-year.

Revenue from gold sales rose to $1.35m, up from $0.89m.

'The junior resource sector was generally subdued during the period under review with only modest financing taking place and IPO activity reduced to low volumes,' executive chairman Colin Bird said.

'This continued to the outbreak of Covid-19 leading to more uncertain times although some secondary financings were achieved during and up to the point of writing this statement.'

'Against an uncertain climate the board are of the opinion that our portfolio is balanced and presents good opportunities for value accretion during the balance of this year and the mid-term.'


At 9:56am: (LON:XTR)  Xtract Resources Plc  share price was -0.08p at 1.28p



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