Wednesday, 22nd September 2004 (2556 views)

Patagonia Gold has released its interim results today and revealed positive results from its latest mining operations.

The report is the first one made since Sir John Craven was appointed chairman and shows that the company's Cerro Crespo project has conducted a successful drilling programme where a number of significant areas were identified.

Figures showed that total fixed assets remained high at £14,806,243 and exploration costs decreased to £902,343.

In addition, a drill programme to focus on the Cabana area is also planned for late October to early November, with regional exploration underway in both Argentina and Chile.

However, the company did reveal a loss of £1,688,568 for the period, which covered the six months to June 30 2004.

Patagonia is a minerals exploration group operating in Argentina, Chile and New Zealand.

 

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