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 sands producer Sunrise Resources posted a full-year loss as it continued to develop its CS pozzolan and perlite project in Nevada.
Pre-tax losses for the year through September amounted to £0.34 million, compared to year-on-year losses of £0.30 million.
Sunrise had been engaging in commercial-scale test work of products from the CS mine with an existing cement manufacturer and ready-mix concrete company.
'We acknowledge that progress may appear slow, and this has been frustrating for shareholders as well as management, but the cement and concrete industries are conservative and have traditionally been slow to change and adopt new technologies and materials,' executive chairman Patrick Cheetham said.
'Nevertheless, your board believes that the value of the CS Project has only been enhanced during the year and change is now inevitable.'