Sterling Resources Q3 Net Loss Widens; Dropped More Than 3% Wednesday
Sterling Resources Ltd. (SLG.V), with exploration and development assets in the United Kingdom, Romania, France and the Netherlands, recorded a third quarter net loss of $10.0 million ($0.04 per share) compared with a net loss of $7.1 million ($0.03 per share) a year earlier due to an increased unrealized loss on derivative financial instruments, increased pre-licence and other exploration costs, which were partially offset by reductions in net employee expense and general and administrative costs. SLG dropped more than 3% Wednesday.
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