Minmet reports $1.7m pre-tax loss

Mineral exploration company Minmet recorded a pre-tax loss of $1.7 million (€1.4m) in the six months to June. The company made a loss of $0.9m in the same period last year.

Chief executive Michael Nolan said he was disappointed with the level of gold production at the company’s Bjorkdal mine in Sweden, but that other projects were progressing well. The company’s cash balance stood at $3m at the end of the period.