Liongold Q3 loss widens on expenses

LIONGOLD Corp on Tuesday said that net loss for its fiscal third quarter widened to S$12.5 million from S$10.9 million in the same period a year ago, due to a big lift in expenses.

Its other expenses ballooned to S$16.7 million, compared to S$3.22 million a year ago, due mainly to a S$10.5 million loss on disposal of subsidiaries.

Liongold added that "the group continues to face challenges with weak gold prices, depressed share prices for shares in the company and a challenging fundraising environment".