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KEFI Minerals pre-tax losses narrow

By BFN News | 02:32 PM | Wednesday 28 April, 2010

Full year pre-tax losses at KEFI Minerals fell to £964,000 - down from £1.14m last time. Operating losses of the year to the end of December fell to £914,000 from £1.33m and gross losses narrowed to £203,000 - down from £677,000. The firm had cash and cash equivalents of £319,000 - up from £288,000 a year ago. Chairman Harry Anagnostaras-Adams said the global financial crisis severely restricted the availability of funding for exploration companies during 2009 and the board took prompt action to reduce the company's financial risk while enabling the team to work towards achieving exploration goals. Story provided by Business Financial Newswire

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