European Nickel PLC (ENK.LN), announced Wednesday for its results for the six months ended March 31, it made a pretax loss of $10.64 million compared with a loss of $6.40 million.

MAIN FACTS:

-Revenue: Nil (2008: $4.24 million)

-Operating Loss: $6.42 million (2008: Loss $8.71 million)

-Loss per Share: $0.03 (2008: Loss $0.02)

-Dividend: The directors do not propose an interim dividend

-Net Cash: $1.33 million (2008: $74.87 million)

-$6 million placing successfully completed in April

-Negotiations with BHP Billiton (BLT.LN) regarding off-take agreement progressing well

-Forestry permit fee paid

-Chinese due diligence on Caldag successfully completed

-Acoje trial heap site and laboratory completed

-The outlook, from a broader market perspective, seems more positive for the remainder of the year than was anticipated at the time of its Annual Report.

-Funding from Western banks still extremely difficult.

 
-By London Bureau, Dow Jones Newswires; +44 (0)20 7842 9296; ian.walker@dowjones.com

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