Exploration company Ormonde Mining has announced an operating loss of €379,000 for the six months to June 2008.
The loss is €95,000 higher than the six months to June 2007.
'This increased loss was largely attributable to increased corporate costs associated with managing two advanced-stage assets,' the company said in its statement.
Ormonde has been focusing on its Barruecopardo Tungsten Project and reviewing development options at its La Zarza site.
The company says that more metal is in the Barruecopardo site than first estimated, and notes that the prognosis for metal commodities remains strong.
In July, Ormonde Mining raised £1.4m (€1.7m) through a share placing for the Barruecopardo tungsten project.
