Latin Resources records 257% bottom line turnaround after “revitalisation” in 2020

“We are now debt-free and in a very healthy financial position and we look forward to progressing our projects in 2021 to the next level of development,” says executive director.

Latin Resources Ltd (ASX:LRS) (FRA:XL5) has recorded an after-tax profit of $3.5 million for 2020, an impressive 257% turnaround on the $5.5 million loss suffered in 2019.


The company also boosted its net assets to $11 million, a 1,592% improvement on 2019, and cash reserves of $4.5 million, compared with just $733,282 at the end of 2019.


Latin Resources undertook a year of “revitalisation” in 2020, advancing exploration at its priority Yarara Gold Project in the proven Lachlan Fold Belt of New South Wales and its Noombenberry Halloysite-Kaolin Project in WA, as well as monetising its projects in South America.


Read the full article: article:https://www.proactiveinvestors.com.au/companies/news/945847/latin-resources-records-257-bottom-line-turnaround-after-revitalisation-in-2020-945847.html

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LATIN RESOURCES AUSTRALIA
Unit 3, 32 Harrogate Street
West Leederville, Western Australia 6007

(P) +61 8 6117 4798
(E) info@latinresources.com.au
(W) www.latinresources.com.au

PERUVIAN LATIN RESOURCES S.A.C.
Calle Cura Bejar 190. Oficina 303, San Isidro, Lima Peru

(P) +51 1 421 2009
(E) info@latinresources.com.au
(W) www.latinresources.com.au

RECURSOS LATINOS S.A
Maipú 1210 Piso 8 (C1006ACT) CABA, 

Buenos Aires, Argentina

(P) +54 11 4872 8142
(E) info@latinresources.com.au
(W) www.latinresources.com.au