Mkango Resources (CVE:MKA) more than halved its losses thanks to exchange rate translation and boosted its cash pile when it reported first-quarter results on Thursday.
Cash and cash equivalents at March 31 were at C$87,774 versus C$63,066 at March 2015.
The company achieved a reduced total comprehensive loss of C$106,112 in the first three months of 2016, versus a loss of C$269,569 in the first three months of 2015.
The exchange difference on translating foreign operations turned in income of C$188,544 versus a loss of C$15,570 in the earlier period.