- After-tax losses at Landore Resources rose to £1,724,629 in the year to the end of December from £1,535,279 in 2015.

The group said operating expenses were in line with budgets and expectations and it raised approximately £1.22 million by the issuance of shares at a price of 1.7p per share and more recently, in March, a further £2.1 million at a price of 2.7p per share.

Chief executive William Humphries said: "During the year the Group has concentrated its exploration efforts on the further exploration of its highly prospective Junior Lake Project culminating in the confirmation of the Maiden Mineral Resource Estimate of 301,000 ounces of gold on the BAM East Gold Deposit."

Story provided by