Gold explorer Glencar Mining narrowed its full-year pretax losses notwithstanding the decline of the US dollar over the period, the company reported today.
The Dublin and London-listed company, posted a pretax loss of $578,177 for the year to December 31st, 2007, from a pretax loss of $1.45 million reported a year ago. Administrative expenses rose to $755,888 for the period from $630,492 earlier.
Glencar Mining said it expects significant increase in the Komana resource.
At 9.30am Glencar's shares were unchanged on the Dublin market at €0.105. The overall Iseq was marginally ahead in early trade.