Dalradian Resources narrows Q1 loss, makes strong start to 2017

Shares in Dalradian Resources are down after it posted a narrower first-quarter loss and said it has made a strong start to 2017.

Its comprehensive loss for the three months to 31 March was C$1.28m, from a loss of C$1.97m. Cash and cash equivalents totalled C$36.4m, from C$35.7m.

"We've had a strong start to 2017. Our fully funded work program for the year continues with initial high-grade intercepts reported recently from underground infill drilling," said president and chief executive Patrick Anderson.

"We look forward to updating the market on additional drilling, both under and above ground, and ore-sorting results as they are received."

Anderson said Dalradian continued to see warrant exercises from a number of holders, demonstrating a commitment to advancing the project beyond 2017.

At 10:46 BST, shares in AIM-quoted Dalradian Resources were down 4.44% to 64.5p each.