Managing director Gabaake Gabaake told investors on Friday: "The company is well positioned to achieve its planned near term goals; achieving sustained economic gas flows at the Lesedi project; obtaining independently certified gas reserves and moving the project from exploration and appraisal to development phase. "Listing on AIM was a significant achievement, opening up the company to the UK market which has a strong appetite for African focused projects like Tlou's. "This has set the foundation for further growth and I look forward to reporting our positive progress to both our Australian and UK investors alike."
In keeping with a firm at this stage the loss before tax for the six months to December 31 was around A$1.9mln compared to a loss of A$1.14mln in the same period of 2014. The firm had cash of A$2.9mln at the end of the year (2014: A$5.8mln).