European Nickel 1st Half Pretax Losses $10.64 Million Vs $6.40 Million
June 24 2009 - 3:25AM
Dow Jones News
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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