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Battery metals exploration company Corcel reported narrower annual losses on lower costs following a reset in December last year.
For the 12 months period to 30 June 2020, pre-tax losses were narrowed to £1.5 million from £2.6 million.
Exploration expenses increased to £0.205 million from £0.069 million, reflecting increased levels of activity at the Mambare project in PNG, the company said.
Finance costs over the year totalled to £0.247 million, reflecting interest and finance fees, down from £0.377 million.
'Overall, after a focused period of restructuring, rebranding and clean up, and despite the highly challenging external environment, we believe shareholders have good cause to be optimistic about the future of Corcel,' the company said.
At 9:06am: (LON:CRCL) Corcel PLC share price was 0p at 1.05p