March 21 London Mining Plc reported a
smaller full-year loss, helped by higher production at its
Marampa mine in Sierra Leone, and said it expected production
from the mine to more than double in 2013.
The company said it expected to produce between 3.3 million
and 3.6 million dry metric tonnes in 2013, and forecast sales in
the range of 3.6 million to 3.8 million dry metric tonnes.
London Mining said its plan to expand capacity at Marampa to
5 million tonnes per year was on track to be achieved by the end
The loss before interest, tax, depreciation and amortisation
narrowed to $14.2 million in the year ended Dec. 31 from $36.4
million a year earlier.
Full-year production of 1.63 million wet metric tonnes, or
1.52 million dry metric tonnes, was ahead of its target of 1.5
million dry metric tonnes, the company had said in January.
London Mining shares, which have halved in value over the
past year, closed at 134.5 pence on Wednesday on the London