Ltd () reported a cash boost with its full-year earnings report published on Friday.
The mining junior, with a portfolio of cash-generating units in southern Africa, said that cash burgeoned to C$970,048 at year end on August 31 versus C$833,373 at the same date in 2015.
The cash float was now higher than it was at the start of the year ended August 31, 2016, at C$924,602.
“Given the challenging market conditions in the resource sector, the company re-evaluated the economics of its proposed activities of both the projects in Nicaragua and terminated all agreements,” it said in a statement.
“At the year ending August 31, 2016, the company has approximately $970,048 (August 31, 2015: $833,373) in cash in its treasury, and continues to evaluate other opportunities that are available for acquisition.”
The total comprehensive loss for the latest year edged higher to C$3.5mln from C$3.26mln the previous year.
“Net loss increased marginally between the two periods due to reduced overhead and exploration operations at the Oena properties, offset by losses incurred due to the non-closure of the BK11 acquisition and fair value changes in the derivative liability,” the company said.