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Capital Metals PLC - London-based mineral sands explorer focused in the Eastern Province in Sri Lanka - For the six months that ended on September 30, pretax loss narrows to $378,188 from $1.2 million the year before, as administrative expenses decline significantly to $382,400 from $1.2 million. Capital Metals books a gain in finance income of $2,531, compared to just $110 a year earlier. Records no revenue for the period, unchanged from last year. Cash balance as at September 30 amounted to $812,246.
Earlier this month, the company said two industrial mining licences issued to its subsidiary Damsila Exports Pvt Ltd had been temporarily suspended. It said the Board of Investment of Sri Lanka is carrying out an investigation regarding the ownership structure of Damila, after the Geological Survey & Mines Bureau gave notice to Damsila that they consider it necessary for the subsidiary’s shareholding structure to have been approved by the BOI.
Current stock price: 2.51 pence, down 3.6% on Wednesday afternoon in London
12-month change: down 73%
By Xindi Wei, Alliance News reporter
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