Monday, Vatukoula Gold Mines Plc. (VGM.L), a diamond exploring company, said its pre-tax loss for fiscal 2008 widened to GBP4.07 million or 0.30 pence per share from GBP982 thousand or 0.17 pence per share in the previous year, impacted by higher cost of sales and impairment and rehabilitation charges.
The company's turnover for the year increased to GBP3.82 million from GBP 28 thousand in the prior year.
Cost of sales widened to GBP4.44 million from four thousand pounds a year ago. Operating loss for the fiscal year was GBP4.37 million, wider than a loss of GBP977 thousand in the same period last year.
The company reported impairment and rehabilitation charges of GBP1.21 million and GBP483 thousand respectively.
The company stated that production to the end of August this year was 12,847 milled ounces, which was achieved from the treatment of 57,117 tonnes at a grade of 6.99 g/t.
In Monday's regular trading session, VGM.L is currently trading at 1.0060 pence, up 0.0910 pence or 9.95%, on a volume of 27 million shares.
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