Triple Plate Junction Fiscal Year Pretax Loss Narrows To GBP732,000
25 August 2011 - 5:57PM
Dow Jones News
Triple Plate Junction Plc (TPJ.LN), an AIM listed gold
exploration company focused on South East Asia, announced Thursday
a narrowed pretax loss at GBP732,000 for the year ended March 31,
2011.
MAIN FACTS:
-Pretax Loss: GBP732,000 (2010: Loss GBP846,000)
-Operating Loss: GBP722,000 (2010: Loss GBP838,000)
-Loss per share: 0.34 pence (2010: profit 0.43 pence)
-The directors do not recommend the payment of a dividend (2010:
nil)
-The company's projects in highly prospective Papua New Guinea
continue to advance:
-*Newmont Mining Corp. (NEM)has commenced drilling at our Morobe
project;
-*Expects Newcrest to commence drilling before the end of 2011
at our Manus Island project;
-*Gold Anomaly (GOA.AU) has completed over 3,000 meters of
drilling at our Crater Mountain project; and
-*Barrick Gold (ABX) is undertaking additional field work at
Wamum with a view to identifying drill targets.
-Its projects with Newmont and Barrick are on our ground which
abuts the Wafi-Golpu property where the Newcrest-Harmony joint
venture has identified 40 million ounces of gold and 15 million
tons of copper.
-A great deal has been achieved over the last year, and the
prospects for the company are very encouraging.
-Significant progress is being made at three of four projects in
Papua New Guinea, and in addition the work carried out by Barrick
at Wamum and by the firm in Vietnam is currently being assessed to
determine the best way forward.
-There is a lot to do over the next year for its to take
advantage of these opportunities, and the Board believes that it
now has the right team in the right roles to enable us to
accomplish this.
-Shares at 0726 GMT up 0.2 pence, or 4.3%, at 4.9 pence.
-By Zechariah Hemans, Dow Jones Newswires; 44-20-7842-9411;
zechariah.hemans@dowjones.com
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