Minmet targets AIM listing as losses hit €2.5m

MINING and exploration company Minmet promised shareholders a London listing yesterday as it reported pre-tax losses of $3 million (€2.5 million) for the six months to June.

The losses rose from $2.4m (€1.99m) in the same period last year as revenues slipped 17% to $4.3m (€3.5m).

The company blamed its Bjorkdal gold mining project in Sweden for the results. It suspended its mining operations in the region earlier this year after experiencing “unsustainable” losses.