LONDON--Zanaga Iron Ore Company Ltd (ZIOC.LN), owner of 50% less
one share interest in the Zanaga iron ore project in the Republic
of Congo through its joint venture partnership with Glencore
Xstrata PLC (GLEN.LN), Thursday reported a much narrowed 2012
pretax loss and said it continues to manage its funds prudently and
has maintained a strong cash position, with $40 million in the bank
as at Dec. 31, 2012.
MAIN FACTS:
-Loss before tax for year ended Dec. 31, 2012 $5.68 million
(2011: loss $14.35 million 1)
-Loss per share 2.1 cents (2011: loss 5.2 cents)
-57% increase in overall Mineral Resource to 6.8Bt at an average
grade of 32.0% Fe
-74% increase in Measured and Indicated resource category to
4.69Bt with an average grade of 32.5% Fe
-Maiden Ore Reserve Statement of 2.5Bt at 34% Fe
-Capital expenditure $7.4 billion, in line with previous
estimates
-Shares at 0830 GMT down 1.12% at 11 pence valuing the company
at 31.01 million pounds.
-Write to Ian Walker at ian.walker@dowjones.com
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