Africa-focused exploration-project generator Altus Strategies booked a loss in the first half, as it spent more money hunting for minerals and didn't book any revenue.

Pre-tax losses for the six months through June amounted to £1.1m, compared to losses of £1.2m on-year.

At 30 June, Altus had cash on hand and marketable securities of £2.0m.

The company said discussions were underway with joint venture partner Canyon Resources about vending the Birsok bauxite asset in Cameroon.

During the first half, Altus said it had discovered substantial artisanal gold workings at the Zolowo project in western Liberia and a potential prospect at the Daro copper-gold project in northern Ethiopia.

At 2:22pm: (LON:ALS) Altus Strategies Plc share price was 0p at 4.5p