https://www.miningweekly.com

R&E widens half-year losses

7th August 2017

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

     

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JOHANNESBURG (miningweekly.com) – JSE-listed Randgold & Exploration (R&E) expects to widen its loss and headline loss a share by more than 60% to between 14.7c and 15.56c apiece for the six months ended June 30.

This compared unfavourably with the loss and headline loss a share of 8.67c during the corresponding period last year.

The drop was attributed to the low level of recoveries, an increase in legal expenses and a decrease in interest received during the half-year under review.

The company’s net asset value decreased from R2.23 a share at December 31, 2016, to R2.08 a share at June 30, 2017.

R&E expects to publish its financial results for the first half of the year by August 10.

Edited by Creamer Media Reporter

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