StockMarketWire.com - Exploration and resource development company Caerus Mineral Resources reported first-half wider losses as it expanding its asset base.

For the six months ended 30 June 2021, pre-tax losses widened to $415,553 from £41,844 last year.

The total assets of the group increased from to £4.1 million from £1.4 million to 369,184 GBP as of 31 December 2020.

The net cash outflow from operating activities was £540,316, and the net cash position increased by £1.7 million to £1.9 million.

'Our dual programme of developing of hard rock copper-gold resources and building a resource of metal-bearing surface material within dumps, stockpiles and tailings has quickly gathered momentum,' the company said.

'This activity has been bolstered by the acquisition of prospective licences, many of which host broadly defined copper-gold resources and have already shown indicated some prospective targets for future exploration.'




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