Business News 7.8.2017 03:33 pm

Randgold and Exploration warns of further losses

Picture by Randgold and Exploration.

Picture by Randgold and Exploration.

The company said the reason for the decrease in earnings was mainly a result of the low level of recoveries.

Investment holding company Randgold and Exploration said on Monday that it expects to report a loss and headline loss per share of between 14.70 cents per share and 15.56 cents per share for the six months ended 30 June 2017.

This is a significant decline compared to a loss and headline loss per share of 8.67 cents for the six months ended 30 June 2016.

Randgold and Exploration said the reason for the decrease in earnings and headline earnings per share in the current reporting period was mainly a result of the low level of recoveries during the current reporting period, an increase in legal expenses and a decrease in interest received.

The net asset value decreased with 15 cents per share from R2.23 at 31 December 2016 to R2.08 at 30 June 2017.

 

 

 

 

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