Aspire Mining announces 2H15 loss
Published by Jonathan Rowland,
Editor
World Coal,
Mongolia-focused coal company, Aspire Mining, has released its 2H15 results, announcing an after-tax loss of US$1.27 million for the six months to 31 December.
This compares to an US$11.8 million loss over the same period in 2014 – a result that was impacted by a US$10.2 million writedown on its Northern Railways subsidiary.
Aspire Mining holds stakes in various metallurgical coal projects in Mongolia, as well as a rail project in northern Mongolia though Northern Railways. It is the largest coal tenement holders in the Orkhon-Selenge Coal Basin in northern Mongolia, were its fully-owned Ovoot project and 50%-owned Nuurstei project are located.
At the end of 2H15, Aspire had US$1.4 million in cash and cash equivalents compared to US$4.0 million at the end of June 2015.
Edited by Jonathan Rowland.
Read the article online at: https://www.worldcoal.com/exploration-and-development/15032016/aspire-mining-announces-2h15-loss-2016-397/
You might also like
EIA reduces its forecast for US coal exports following Port of Baltimore closure
The US EIA has decreased its forecast for US coal exports following the collapse of the Francis Scott Key Bridge and the resulting closure of the Port of Baltimore.