Losses widen at Persian Gold

PERSIAN Gold – the John Teeling-chaired/AIM-listed gold and precious metals exploration company – has reported a marginal widening in full-year pre-tax losses to £316,000 (€384,000) for 2009.

The Dublin-headquartered company had made a pre-tax loss of just over £310,000 in 2008. Last year’s figures also showed a 6p drop in the company’s loss per share to 42p and a £1,000 drop in operating losses to £315,118.

Earlier this week, the company – whose chief assets, unsurprisingly given its name, are based in Iran – announced its intention to take on an oil and gas exploration line through the reverse takeover of Hydrocarbon Exploration. The latter company – also chaired by Mr Teeling – owns the exploration assets that were left over from the buyout of Pan Andean by Canadian company, Petrominerales earlier this year.