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Fulcrum Metals PLC said on Friday that its loss had widened following the company’s admission to the AIM market.
Fulcrum Metals, a Canada-focused mineral exploration and development company, said its interim loss for the six months ended March 31 widened to £1.2 million from just £54,901 in the same period the year prior.
This loss was driven by an exceptional item cost of £841,192 that was incurred on the admission to the AIM market on the London Stock Exchange in February. Administration expenses, meanwhile, rose to £382,985 from £48,060.
Fulcrum listed on AIM earlier this year, raising £3.0 million at 17.5 pence per share. Shares in Fulcrum Metals were untraded in London on Friday afternoon, last quoted at 15.09 pence.
Chief Executive Officer Ryan Mee said: ‘Fulcrum has a highly prospective portfolio of projects in one of the most attractive mining jurisdictions in the world and a highly aggressive growth strategy.
‘Looking ahead, we will continue to build on the success of our exploration work at our flagship Schreiber-Hemlo project to increase the value and ultimate commercialisation of the project.’
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