LONDON (Thomson Financial) - Falkland Gold and Minerals Ltd said it has
ceased operations in the Falklands and is now effectively a cash shell with no
material liabilities.
The company, which in January said it has not been able to identify
commercially viable deposits in the Falklands, said it has released its four
member exploration team and almost completed its withdrawal.
Falkland Gold also said its board continues to look at opportunities in the
resources sector. The company's loss before tax for the six months to end-March
came in at 599,188 pounds compared with 531,124 the year ago. As of March 31 the
company had 3.7 million pounds in cash and drilling equipment with a book value
of 95,000 pounds.
TFN.newsdesk@thomson.com
ran/sal
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