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UPDATE: Sterling Resources Edges Up Although Q3 Net Loss Widens, Stock Downgraded; 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.

Sterling reportedly was downgraded by analysts at Dundee Securities from a Buy rating to Neutral in a research report issued to clients and investors on Thursday.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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