StockMarketWire.com - Mining group Tungsten West posted a first-half loss as it continued to develop the Hemerdon mine in southwest England.

Pre-tax losses for the six months through September amounted to £5.0 million, compared to year-on-year losses of £3.6 million.

The company listed on AIM in October, having raised £39 million in an initial public offering.

'Funds raised place the company in a strong financial position to bring Hemerdon back into production,' it said on Tuesday.

Front-end engineering and design for the project had been completed, with detailed design underway.


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