Gold One International Limited (ASX:GDO) has posted a half year net profit loss of $11.5 million, sliding 403 per cent from the first half of last year.
The miner says its result was hit by a strike at its Modder East operation and acquisition costs from securing control of Goliath gold mining and its various entities.
They have implemented turnaround initiatives at their Cooke operations that are well advanced despite not yet having a tangible impact on profits.
Gold One has not declared an interim dividend for shareholders.
GDO Price at posting:
40.5¢ Sentiment: None Disclosure: Held
