Search Share Prices
Wishbone's Thai entity delivers the goods
A new Thai entity has been established by Wishbone Gold and has successfully delivered its first shipment to Dubai.
The AIM-listed company currently holds a 49% stake in the Asian Commerce and Commodities Trading Co and plans to increase it's holding to 95% as shipments become more frequent.
Richard Poulden, chief executive of Wishbone Gold, said: "We are pleased that the first shipment of gold arrived without a problem and look forward to increasing the volumes."
The company seeks to develop and improve established mines in gold rich nations while working with artisanal and small scale miners (ASM).
"The possibility of working with the Thai authorities to improve the working conditions of ASM miners is exciting and will give Wishbone Gold a good foothold in another gold producing country," said Poulden.
In 2017, Wishbone Gold launched a similar project in Honduras in collaboration with Scotia International and the Honduran government.
The company's registered a $331,034 loss for the six months ending 30 June 2017, a 79% increase on its $185,247 of red ink for the same period in the previous year, but Wishbone Gold said it had suffered delays in its Honduras operations due to a particularly disruptive hurricane season.
As of 1304 GMT, Wishbone Gold's shares were up 23.53% at 0.52p.