StockMarketWire.com - Phosphate explorer and developer Kropz narrowed its annual losses following a decline in costs.

For the year ended 31 December 2020, pre-tax losses narrowed to $2.0 million from £8.6 million year-on-year.

In February, the company divested its 50% stake in First Gear Exploration, the owner of the Aflao prospecting right, to Consortium Minerals for US$ 327,529.

'Global phosphate rock demand and pricing continues to improve, and the work being carried out at its projects will provide Kropz with invaluable direction for the next phase of its development, subject to short-term challenges being manage,' the company said.




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