1 Dec 2010

Gold mining firm trims losses

7:49 pm on 1 December 2010

Listed gold miner Heritage Gold has stemmed its losses in the six months to September.

Heritage Gold lost $241,541 in the half year, a 21% smaller loss than in same period last year.

The company has a cash balance of $1.5 million and says the strengthening gold price means it can look for mineral investment opportunities in Papua New Guinea and the South Pacific.

Separately, Heritage Gold has a 29% stake in Broken Hill Prospecting, which is listing on the Australian Stock Exchange.