Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Mineral explorer and developer Cadence Minerals moved deeper into the red in the first half of the year as unrealised losses on the sale of assets weighed.
For the six months ended 30 June 2020, pre-tax losses widened to £1.26m from £285K on-year.
The company reported an unrealised loss of £444K on assets available for sale, compared with a profit of £1.1m on-year.
The remaining major precondition for Cadence to make its initial investment into Amapa requires DEV Mineraco to reach a settlement agreement with the secured bank creditors,' the company said.
'On completion of the conditions and the release of the Cadence escrow monies, Cadence will become a 20% shareholder in Amapa via our joint venture company which will own 99.9% of DEV,' it added.
At 10:03am: (LON:KDNC) Cadence Minerals Plc share price was +0.38p at 12.63p