Climax slumps after loss blows out

SHARES in Climax Mining have fallen to their lowest level ever after the company reported a $56.28 million net loss for the 12 months ended June 30, compared with a $1.88 million net loss the year before.

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The result saw the stock driven down 1.5c to an all-time low of 3.5c, before rebounding slightly to 4.3c in afternoon trade.

Climax reported that costs blew out to $56.46 million in 2000-01 from $2.

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