Chaarat Gold operating losses rise

Chaarat Gold posts operating losses of $13.1m for the year to the end of December - up from $11.4m last time.

The loss attributable to equity shareholders increased to $12.4m - up from $11.4m.

Chief executive Dekel Golan said: "We have made considerable progress over the year on all major items and expect to achieve first production in 2013, albeit slightly later than expected due to the need to negotiate stable fiscal terms with the government.

"We are confident that the funds raised in March 2011 will be adequate to complete the construction of all elements to commence production."

At 2:13pm: (LON:CGH) share price was -1.13p at 15.25p

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01/06/2012