Shares in mineral exploration group Sunrise Resources (LON:SRES) sunk over 10 percent in early trading on Monday, after reporting another loss for the half year.
The group’s loss grew for the six month period to 31st March to £162,869, £149,534 in the same period last year. The figures came despite the company saying that “preliminary modelling by the company for its CS Pozzolan-Perlite Project in Nevada, USA, “shows attractive financial returns based on low capital and operating cost estimates”.
The company said in a statement: “In the last six month reporting period, our attention has been largely dedicated to the Pozz Project and in particular the CS Project in Nevada.We are excited by this focus on growth markets for natural pozzolan and perlite in the Western USA.
The Pozz Project is an umbrella project covering our search for deposits of natural pozzolan, cementitious materials that can be used in partial replacement for Portland cement in cement and concrete mixes.
Shares in the company fell on the news of the loss, currently trading down 9.17 percent at 0.109 (0855GMT).