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Mineral exploration and development company Beowulf reported wider annual losses following an increase in costs.
For the three months ended 31 March 2021, pre-tax losses widened to £527,000 from £217,000 year-on-year.
Administrative expenses increased to £527,000 from £217,000.
This wider loss is 'largely attributable to a translation loss of £265,985 on the revaluation of the Swedish Krona bank account,' the company said
'Further contributing to the loss was an increase in consultants and legal costs of £28,679, and staff training costs of £13,449,' it added.
At 8:05am: (LON:BEM) Beowulf Mining PLC share price was 0p at 5.5p