Glencar Mining pre-tax profits slip

Glencar Mining said its pre-tax losses narrowed in the six months to the end of June as it continued its gold exploration programmes in its three main project areas in Mali, Ghana and Uganda.

Pre-tax losses narrowed to $312,539 from $610,142 in the year-earlier period. The company has no turnover.

With cash of $1.5 million at June 30, the company said it has “adequate” financial resources to carry out all planned programmes.