Business
Interim Results
Interim Results.
About this update from Zephyr Energy Plc
[{"type":"text","content":"\n RNS Number : 0916D Vane Minerals PLC 10 September 2008 \n \n\n\n\n\nFOR IMMEDIATE RELEASE\n\n\n10 September 2008\n\n\n\n\n\nVANE Minerals Plc\nInterim Results for the six months ended 30 June 2008\n\nVANE Minerals Plc ('VANE' or 'the Company'; AIM: VML), the mineral exploration and production company with uranium and copper exploration in the US, gold and copper exploration in Paraguay and silver/gold production and exploration in Mexico, announces its unaudited results for the six months ended 30 June 2008.\n\nHighlights:\n\n\nRevenues to June 2008 increased by more than 50% to over £1 million compared to the same period in 2007\n\n\nLosses to June 2008 were reduced by 22% to £671,803 compared to the prior year period \n\n\nUranium exploration drilling is ongoing on properties in Arizona and Utah\n\n\nAddition of 7,000 acres on the extension to the Uravan Mineral Belt with the acquisition of the Abajo property position\n\n\nThe Diablito mine in the State of Nayarit, Mexico, produced 12,242 tonnes of ore, at an average of 2,040 tonnes/month\n\n\nEarly results from Diablito drilling indicate a potential resource upgrade from inferred to indicated\n\n\nThe 100 tpd mill at San Dieguito de Arriba is now fully operational, processing 13,443 tonnes during the first half of 2008, an average of 2,240 tonnes/month\n\n\nExploration continued for porphyry copper deposits in SW USA and Northern Mexico. One prospect was drilled and abandoned; results from a second property are under evaluation\n\n\nCash balance as of 30 June 2008 was £4.5 million\n\n\n\nPost-Period End:\n\n\n\nIn Paraguay drilling is expected to commence in September on several gold-copper anomalies identified on the 22,600-hectare Ibabo Concession\n\n\nA joint venture agreement with Uranium One covering the south rim of the Colorado Plateau Breccia Pipe District was signed on the 5th September 2008\n\n\nSteven Van Nort, Chief Executive Officer of VANE Minerals Plc, commented: \n\n'VANE continues to utilise cash flow from Diablito to expand and diversify our exploration portfolio. Our join...