Discovery Metals reports 75 percent increase in total assets and equity

In the period  under review , total assets grew to AUD$30.9 million (P172 million) as at June 30.  The company says the exploration asset in Maun grew from AUD$12.3 million ( P70.7 million) to AUD$22.8m (P131.1 million, reflecting the significant amount of money spent progressing the infill drilling programme and the feasibility study for the Boseto Copper Project in  the North-West District.

The company is solely Botswana focused at present, with the Boseto Copper Project feasibility study scheduled for completion in March next year. However, the company reported a loss of AUD$4.4 million (P25.3 million) for the year due to the exploration and project feasibility nature of the company.