American Pacific Borates (ASX:ABR) suffers loss of over $10.5M for the half

Company News

by Katrina Bullock

American Pacific Borates (ASX:ABR) recorded a net loss after tax of over $10.5 million for the half-year ended 31 December 2020.

The loss included over $2.7 million related to foreign exchange movements, and a share based payment expense of over $6 million, more than $5.3 million of which went to employees and directors.

The company remains focused on advancing its 100 per cent owned Fort Cady Borate Project located in Southern California, USA.

Its overarching ambition is to become a substantial global specialty fertiliser producer.

Shares in American Pacific Borates (ASX:ABR) closed 1.05 per cent lower at $1.88 yesterday.