Landore Resources Release Interim Results for the Six Months Ended June 30, 2016

Landore Resources (AIM:LND.L) has announced the financial results for the six months ended June 30, 2016.
As quoted in the press release:

Results of Operations
The financial results for the six months to 30 June 2016 show a loss of £732,975 (2015: loss £1,180,977). These results were in line with expectations, substantial savings have been made in relation to administration costs which included a non-cash charge of £245,864 relating to the grant of share options. Exploration costs were £250,108 (2015: £466,518).
During the period under review £1,228,831 (2015: £nil) was raised from the issue of shares. In addition the sale of the Root Lake project, which completed on 11 July 2016, has raised a total of approximately C$330,000 (approximately £196,000).
As a result, the Group has been able to fund and make plans for follow up drilling in October 2016, further details are set out below.
Operations
The focus in the first half of 2016 has been almost entirely focused on the BAM East Gold prospect on the Company’s Junior Lake Property in Ontario, Canada (“BAM East Gold Prospect”).
The Junior Lake property
The Junior Lake Property, 100% owned by Landore Resources, is located in the province of Ontario, Canada, approximately 235 kilometres north-northeast of Thunder Bay, and is host to the B4-7 Nickel-Copper-CobaltPGEs resource plus the Exploration Target and the Alpha Zone, the VW Nickel resource and numerous other highly prospective mineral occurrences including the BAM gold zone and the newly discovered BAM East Gold Prospect.
BAM East Gold Prospect
This new gold prospect is located approximately midway along a 2.7 kilometre long, east-southeast to westnorthwest trending MaxMin geophysical anomaly (“MM-7”), at the western end of which is located the historical BAM gold zone discovered by Landore Resources in 2003. MM-7 had not previously been drill tested.

Click here to read the full press release.