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Exploration and mining company Keras Resources reported narrower losses in the first half of the year, compared with the prior six-month period as revenue climbed.
For the six months ended 30 September 2021, pre-tax losses narrowed to £345,000 from £560,000 in the six months though March, while revenue rose to £311,000 from £31,000.
'It has been a challenge that, despite meeting all of our funding obligations, we have thus far not been able to amicably resolve our partner's funding shortfall and that operations at the Spanish Fork processing facility have had to be put on hold as a result,' the company said.
'However, we are working diligently to resolve this issue, marketing efforts are ongoing and the Diamond Creek high grade material is still being sold into the North American organic phosphate market.'
'In Togo, we continue to pursue our discussions with the Government, and we will provide further updates on the progress of the Exploitation Permit approval process when we have those details."'