Exploration company Ormonde Mining has reported pre-tax losses of €600,000 for last year, up from €420,000 the previous year. The increased loss was mainly due to the write-off of spending on exploration.
Ormonde is currently carrying out a feasibility study on its La Zarza project in Spain, where it hopes to develop a mine producing copper, gold, zinc and silver.
The company has also reported encouraging results from its Salamanca projects in Spain, where drilling suggests the presence of high-grade tungsten.
