Arkadian Strategic Metals shares jump on narrowing interim pretax loss

Arkadian Strategic Metals PLC shares rose on Thursday after it reported that losses narrowed in the first half of the year.

Shares in London-based mineral exploration and development company were up 6.8% to 0.012 pence in London.

Arkadian's pretax loss narrowed to £627,000 in the six months to May 31, from £761,000 a year earlier.

Looking forward, the company said its immediate priority for the Motzfeldt mine in southern Greenland, in which Arkadian holds a 51% stake, is to advance the project through a coordinated programme of resource, metallurgical, environmental and engineering work.

Regarding the Welsh Clogau-St David's gold mine, Arkadian said its decisions will be guided by the results of the ongoing geological review.

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