Gold-focused Ormonde Mining makes losses of more than €200,000

EXPLORATION company Ormonde Mining, with a strong focus on gold exploration in Spain, made losses of €201,224 for the six months to the end of June.

The company said admission to the AIM earlier this year and a capital raising of €4.4m provided the group with a "financial platform to complement its technical strengths."

Ormonde said its lead project at La Zarza in Spain produced results from the initial drilling programme in line with expected grades of mineralisation.