Angel Mining plummets as losses surge

Angel Mining, the AIM-listed mining group focused in Greenland, saw shares take a tumble on Friday after reporting that losses widened significantly in the first half, mainly due to a hefty impairment provision.

Angel Mining, the AIM-listed mining group focused in Greenland, saw shares take a tumble on Friday after reporting that losses widened significantly in the first half, mainly due to a hefty impairment provision.

The company recorded at loss of $14.6m in the six months to August 31st, compared with a loss of just $1.65m the year before, after taking into account a provision of $10.8m for the impairment of the value of assets at the Nalunaq Gold Mine.

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