- Cash shell and former oil explorer Red Emperor Resources booked a narrower annual loss, owing to a fall in exploration writeoffs.

Pre-tax losses for the year through June amounted to $1.04m, compared to losses of $10.3m on-year.

'The group remains committed to identifying suitable assets for listing purposes,' the company said.

'The group intends to pursue acquisition and investment opportunities to secure new assets in accordance with its outlined strategic philosophy.'

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