Emerging Metals moves into the black

8th Jul 2009 07:53

Mining group Emerging Metals reported a pre-tax profit versus a loss the previous year and is confident of further growth. For the year ended 31 March the group posted a pre-tax profit of £10.01m compared with a loss of £1.50m a year earlier. Cash reserves at the year end stood at £3.8m compared with £9.1m in 2008. Operating expenses were in line with company targets."Our maiden year of operations as an AIM listed company has been exceptionally good and we are confident of further growth," the group said in a statement. "The year ahead will provide additional opportunities to acquire holdings at unprecedented low cost withoutstanding prospects for the future," it added.