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Tethyan Resources to advance Serbia projects and mull acquisition potential

In April, the group said it had kicked off summer drilling on its Rudinitza porphyry, at Suva Ruda
Tethyan Resources to advance Serbia projects and mull  acquisition potential
Tethyan is on the hunt for gold and base metals

Balkans-focused Tethyan Resources PLC (LON:TETH) plans to advance both the Suva Ruda and Gokcanica projects in Serbia in the  rest of 2017 and sees potential for further acquisitions in the area, it said, posting final results.

In April, the group said it had kicked off summer drilling on its Rudinitza porphyry, at Suva Ruda, to expand the footprint of mineralisation and test areas.

First assays are anticipated in late June.

In keeping with a firm at this formative stage, the loss before tax (for the nine months to end December) was £1.3mln, cersus £465,000 for the 12 months to end March 2016.

Cash at the end of 2016 stood at £985,000.

Tethyan shares added 3,23% in London today, to stand at  4p.

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Tethyan Resources PLC Timeline

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"We acknowledge the continuing disconnect between our share price and the value of our assets when assessed in terms of the in-situ value of our resource and reserve ounces."

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