Mirabela's losses widen in H1
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Mirabela Nickel Ltd's net loss widened in the first half on falling nickel prices and a spike in currency exchange costs.
The nickel miner posted a $US68.9 million loss for the first half to June, which came in 14% higher than the US$60.612 million loss recorded in the previous corresponding period.
It said low nickel prices coupled with lower mining volumes weighed on the result, while it took a US$32.855 million hit on foreign exchange losses and US$21.111 million in interest charges.
The result came on a 26% fall in revenue to $124.2 million.
The miner will not pay an interim dividend.
The company is tipping full-year production of between 17,000 tonnes and 18,500 tonnes of nickel in concentrate.
It had allocated US$35 million to US$45 million for capital expenditure, exploration and study costs.
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