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Future Metals NL on Monday reported its annual loss reducing as the revenue-less firm progressed with its exploration programme.
Future Metals is a Perth-based platinum exploration company which started trading on London's AIM market in October 2021. Its shares rose 12% to 7.00 pence each in London on Monday around midday.
Pretax loss in the year that ended June 30 narrowed to $4.3 million from $6.3 million a year prior. The company received interest of $6,823, compared to $820 year-on-year.
In financial year 2021, Future Metals paid a one-off sum of $4.1 million in listing expenses. In financial 2022, it paid $2.0 million in ASX and AIM and share registry fees.
Further, Future Metals said it completed a £500,000 placement via issuing 7.1 million shares at 7 pence each to increase liquidity and market presence.
‘We progress our exciting exploration programme and scoping study activities over the coming months,’ said Chief Executive Director Jardee Kininmonth.
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