Miner logged a pre-tax loss for the period of £352,553, compared to a £602,678 loss a year before, as administrative expenses almost halved.
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Test at the company’s 100%-owned La India gold project in Nicaragua confirmed 95.4% gold recovery from two samples in laboratory conditions.
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The company has started the permitting process for two high-grade satellite feeder pits that could increase production at its La India gold project in Nicaragua by 50% to 120,000 ounces a year.
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The mineral resource update totalled 9.85 million tonnes at 3.6 grams per tonne of gold for 1.14 million of indicate ounces, a surge of 57,000 ounces from the previous update.
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