African Gold losses pass €500,000 despite hopes

AFRICAN Gold has reported increased losses in its last financial year, but chairman John Teeling, said it was also a period of significant progress for the group in Botswana, Africa.

The group made pre-tax losses of over €573,590) against losses of €386,808 for the year to June 30, 2006.

Mr Teeling reported the group’s diamond discovery in Botswana was continuing to show promise.