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Ovoca reports lower annual loss

Exploration company Ovoca Resources has reported reduced pre-tax losses of €140,000 for the year to the end of February.

During the year, Ovoca acquired a gold prospect in northern Sweden, and intends to start a drilling programme there by the end of this month.

Ovoca and its partner Aurum will also be exploring the Newcastle West licence area for zinc over the next 18 months.