LionGold bleeds S$20m in delayed Q1 results

Singapore

THE market was once again reminded of the shattered financials of the firms embroiled in last October's penny stock crash with LionGold releasing its much-delayed first quarter results with an injurious outing, just one day after its counterpart Blumont reported dismal quarterly digits.

The beleaguered gold miner swung into big losses of S$20.3 million for the first quarter ended June 2014 from a S$3.8 million profit a year ago.

LionGold attributed the bleeding to weak gold prices and high production cost. Also, quite possibly for the first time, the firm indicated that if these vagaries persisted, i…