Wednesday, October 28, 2020

CIC Energy reports a loss

CIC Energy, the Botswana Stock Exchange listed company, said on Monday it made a net loss for the three month period ended May 31, 2010 of $2,201,669 or $0.04 per share (basic and diluted), compared to a net loss of $2,122,697 or $0.04 per share (basic and diluted) for the same period last year.

The company said the net loss for the six month period ended May 31, 2010 was $5,466,991 million or $0.10 per share (basic and diluted) compared to a loss of $1,966,054 or $0.04 per share (basic and diluted) for the same period last year. 

The year over year change in net loss for the second quarter and for the six month period is due to a combination of the reduced interest received on cash and cash equivalents and the reduction of profit on foreign exchange.

Capital expenditure on exploration properties as at May 31, 2010 amounted to $167 million, with capitalised exploration costs for the first six months of 2010 totaling $6 million.

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