Fluormin narrows interim loss
JOHANNESBURG (miningweekly.com) – London-listed Fluormin on Monday reported a loss of £1.3-million during the six months to December 2012 after facing a challenging year.
However, despite cost and operational pressures, the group’s half-year loss was an improvement on the loss of £4.3-million reported in the comparative period in the prior year.
The group reported a basic loss a share of 6.26c from continuing operations during the six months to December 2012, compared with the loss of 19.66c a share in the prior comparative period.
Fluormin generated revenue of £6-million in the half-year under review – a fall from the £10.5-million recorded in the six-month period to December 2011.
The group’s Witkop mine was placed on care and maintenance after facing operational and cost pressures and, globally, the group experienced a significant decline in the price of fluorspar.
However, the group reported strengthening its balance sheet and rationalising the company's operations after selling its Buffalo fluorspar project and its 20% interest in Kenya Fluorspar Company for aggregate considerations of £740 000 and $14-million respectively.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation