StockMarketWire.com - Landore Resources said Friday net losses widened in the year to the end of December to £3.30m from £1.72m the previous year.

Operating expenses were in line with the company’s expectations for the year.

The company said it was fully funded for its planned operational expenses for 2018 after raising £3.15m at a price of 1.5p per share in March 2018. This followed a capital raise in March last year of approximately £2.1m at a price of 2.7p.

The group had no debt and would continue to raise further equity as needed to carry out its development plans.

The company said its work programme for 2018 is aimed at advancing the BAM East Gold Deposit towards a 1m ounces gold resource, discovery of further gold deposits along the Junior Lake Shear and to progress the BAM East Gold Deposit towards development with the completion of a preliminary economic assessment report.

'The board believes that the fact that the BAM gold mineralisation delineated to date remains open both to the East and West and down dip/plunge clearly demonstrates this discovery's huge potential,' the company said.


At 8:02am: [LON:LND] Landore Resources Ltd share price was 0p at 1.55p



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