Exploration company Glencar has reported pre-tax losses of $1.4m for last year, compared with a loss of $700,000 a year earlier. The loss includes, for the first time, an imputed cost to the company of the issue of share options to directors and staff.
The company's main focus is on its Komana West deposit in southern Mali where it is currently completing its fourth phase of drilling for gold.
It has written off its investment in a zinc/lead exploration programme in Co Laois after giving up its two licences there.
