Exploration company Glencar Mining has reported pre-tax losses of just over $600,000 for the first half of this year, compared with losses of nearly $3.7m in the same period a year earlier.
The results include a provision of nearly $400,000 for legal fees awarded against Glencar in an action against Mayo County Council.
Glencar recently announced an agreement with its bankers to eliminate its debt and release the firm from its financial obligations relating to the Wassa Gold Project in Ghana. The company says it now plans to focus on its exploration programmes in Ghana, Mali and Uganda.
