StockMarketWire.com - Mining group Tectonic Gold posted a full-year loss as pandemic restrictions disrupted progress at its lead gold project in the Australian state of Queensland.

Pre-tax losses for the six months through September amounted to €0.23 million, compared to a year-on-year profit of €0.21 million.

'COVID-19 and the restrictions on movement eased and we were able to get into the field on our lead gold project in Queensland where we executed multiple successful campaigns, advancing our research into intrusive related gold systems and our understanding of the Specimen Hill system itself,' chairman Bruce Fulton said.

'We pursued the Southern Copper discovery and made several rediscoveries of old workings and new discoveries in these various campaigns.'

'Drilling in December 2020 and January 2021 returned promising results and attracted the attention of some of the large copper and gold miners.'


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