URU Metals Ltd (URU)

 

URU Metals narrows H1 net loss

URU Metals has recorded a narrower H1 net loss of $184,000, from a loss of $1.1m.

The comparative period was dented by a $890,000 impairment of intangible assets and de-recognition of contingent liability, versus nil this year.

LOOKING AHEAD

"At the reporting date, the company had cash resources of $368,000 and no borrowings," it said in a

"statement. Subsequent to September 30, 2016, the Company completed a placing for gross proceeds of £740,000.

"URU continues to believe that the long-term fundamentals of the base minerals industries remain positive and will be working hard in the coming year to unlock the value of our projects for our shareholders.

"The Company maintains its core strategy to develop its nickel assets, as the Board anticipates growing demand and price appreciation for nickel in the short to medium term."