Aquila Resources Limited (ASX:AQA) has extended its loss to $64.5 million in the 2011 financial year, deepening from $33 million the year before.
The coal miner’s result was impacted by exploration and feasibility study costs stemming from four of its projects.
Over the year Aquila’s 50 per cent owned Isaac Plains coalmine in Queensland posted an increase in gross profit, rising from $11 million to $29.7 million.
Aquila says the contribution from Isaac Plains was impacted by extreme weather and flooding in the region and that the company is currently putting together a significant insurance claim.
No final dividend has been declared.
