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Article: AUSTRALIA'S CBH RESOURCES POSTS LOSSES IN BATTLE TO SURVIVE.(Financial report)
- Article from:
- AsiaPulse News
- Article date:
- August 31, 2009
CopyrightCOPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PERTH, Aug 31 Asia Pulse - Australian miner CBH Resources Ltd (ASX:CBH) has more than doubled its annual loss on weaker lead and zinc prices, and lower output, and will pursue a "simplified corporate strategy", after battling to survive in 2008/09.
CBH on Monday posted a net loss of $A93.4 million (US$78.67 million) for the 12 months to June 30, 128 per cent more than its $40.9 million loss for the previous corresponding period.
The company also announced that its largest shareholder, Japan's Toho Zinc (TSE:5707), will not maintain its 28.6 per cent stake under a placement agreement and will be diluted to 23.1 per cent after other institutional ...