Mining firm lowers pre-tax losses

ORMONDE MINING, the Irish mineral exploration company, with a focus on the Spanish market, has reported a lowering of full-year losses for 2010 — a year which management has referred to as a period of “significant progress”.

Ormonde’s pre-tax losses amounted to €1.09 million last year, down from a loss of €1.57m in 2009.

The company’s loss per share fell from 71c to 43c, over the course of the year.