06/03/2006
Mercator Gold lost £763,425 in the half year to December and doubled its gold resources to 1.94 million oz.
Australia-oriented Mercator increased its resource base by acquiring the gold exploration and mining assets of former AIM flop St Barbara Mines at Meekatharra in Western Australia. This involved a £10 million capital-raising in December and January and a 10-for-one share consolidation.
Mercator chairman Terrence Strapp says the company has embarked on a new drilling programme for 2006 and hopes to expand its resources base further. At 62.5p, valuing the company at £24.5 million, the shares have some speculative potential.
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