Vancouver — Working on the environmental impact study for the promising Tambo Grande gold and base metal project in northern Peru, Manhattan Minerals (MAN-T) posted a loss of $1.37 million, or 3 per share, in the first six months of 2001.
This compares with a loss of $1.78 million, or 5 per share, in the same period of 2000, when the junior took a $1.1-million charge from discontinued operations.
Local unrest earlier in the year forced the junior to extend the time-line for developing the promising project.
The company is working with the regional community on information-sharing and consultation.
In April, the government of Peru granted a one-year extension to Manhattan’s option over the Tabo Grande ground, giving the company until May 2003 to complete its earn-in obligations.
The feasibility study, which was to be completed in mid-2001, is now slated for completion by mid-2002.
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