Published on: November 24, 2014
Full year results
Greatland Gold’s FY14 results included a reported loss of £864,270 (FY13, a loss of £422,239) equating to a loss of 0.16p per share (FY13, loss of 0.12p per share). There were a number of one-off items during the year which totalled more than £300,000. During the financial year in question, Greatland Gold raised £675,000 through two placings and at the end of the period its cash deposits stood at £556,085. It raised a further £500,000 subsequent to the year-end and reported that it had £850,000 cash and no debt towards the end of September 2014. The year saw good results across Greatland’s portfolio and the outlook statement maintains a positive view on the company’s prospects. We have reviewed our estimates for FY15 and have increased our expected EBITDA loss for the year to around £0.6 million from £0.5 million given the opportunities and funding which the business currently enjoys.