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Fluormin still assessing its options at Witkop

Last updated: 06:38 26 Feb 2013 GMT, First published: 07:38 26 Feb 2013 GMT

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Fluorspar miner Fluormin (LON:FLOR) is continuing to review its options following the mothballing of its Witkop mine in South Africa in October.

Flourmin took that decision after a slump in the price of fluorspar, a mineral used in compounds in the manufacture of a number of metals.

The group posted a £1.3mln net loss in the half year to December, down from £4.3mln, on revenues of £6mln (£10.6mln).

Cash and equivalents amounted to £7.9mln at the period end, largely due to the sale of its stake in Kenya Fluorspar.

Fluormin added that since it put Witkop on a care and maintenance basis it had carried out some exploration work to identify near term higher grade plant feed.

Shares were 10% lower today at 18.1p.

 

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