Listed gold miner Heritage Gold narrowed its loss for the first six months of the year and significantly boosted revenue.For the six months ended November 30, Heritage Gold boosted operating revenue to $41,298 from $14,102 a year earlier.Heritage Gold pos
Listed gold miner Heritage Gold narrowed its loss for the first six months of the year and significantly boosted revenue.
For the six months ended November 30, Heritage Gold boosted operating revenue to $41,298 from $14,102 a year earlier.
Heritage Gold posted an after-tax loss of $241,541, an improvement on the previous year's loss of $305,981.
The company held cash totalling $1.5m, down from $2.1m a year earlier, and total assets were valued at $10.8m compared with $11.1m in 2009.
Liabilities rose to $151,979 from $132,695 last year.
No dividend was declared.
A strengthening gold price meant the board was reviewing mineral investment opportunities in Papua New Guinea and elsewhere in the South Pacific, executive director Peter Atkinson said.
Gold prices have risen nearly 25 percent so far this year, and reached a record high of $US1424 ($NZ277.37) an ounce on November 9.
Heritage Gold is a diversified mining exploration company which finds, develops and packages mineral properties in Australasia.
The company holds tenements in the southern part of the Coromandel Peninsula at Waihi.
