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Mineral exploration and development company Blencowe Resources reported wider half-yearly losses as costs soared.
For the six month period ended 31 March 2020, pre-tax losses widened to £482K from £83K as administrative and other expenses jumped to £482K from £83K on-year.
'A 21-year Mining Licence was awarded in 2019, significantly de-risking any development. Whilst the travel restrictions imposed as a result of Covid-19 have inhibited progress in recent weeks, this does not detract from the long-term economic attractiveness of the project,' the company said.
'The company has now mobilised drill teams to site to recommence the test drilling program,' it added.
At 9:26am: (LON:BRES) share price was 0p at 8.25p