Aquila Resources Ltd (ASX:AQA) has widened its full year loss to $33.07 million in fiscal 2010, from a loss of $26.16 million the year before.
The miner says the result reflects significant investment in exploration and feasibility across its coal, iron ore and manganese projects.
For the year to 30 June, Aquila spent $60.2 million on exploration and evaluation, just under the $64 million spent in the previous year.
The miner posted an increase in revenue to $129.841 million, up from $91.826 in 2009.
However, Aquila says average sales prices were impacted by a reduced demand in PCI coal because of the GFC, which in turn created a greater than expected amount of sales in thermal coal product.
No dividend has been declared and looking ahead, Aquila says it will continue to explore it projects and evaluate related acquisition opportunities.
AQA Price at posting:
$7.98 Sentiment: None Disclosure: Held
