Sula Iron & Gold posts broadly flat FY pretax loss

Shares in Sierra Leone-focused Sula Iron & Gold are down almost 7% after it posted a broadly flat full-year pretax loss in what was a period of significant developments for the company.

Sula had re-focused on gold, introduced exploration activities that had helped improve its understanding of Ferensola's gold potential, made additions to the board and brought in new shareholders.

"As a board we are committed to maintaining this momentum into 2017 and beyond as we unlock the significant potential value we believe exists within Sula," said chief executive Roger Murphy.

Pre-tax loss was £1.78m, from a loss of £1.77m.

At 15:02 GMT, shares in AIM-quoted exploration company Sula were down 6.86% to 0.48p each.