Lepanto massive loss in 1H

Listed miner Lepanto Consolidated Mining Co. on Tuesday reported a massive net loss in the first half of the year as a result of lower gold prices and stronger peso.

In a disclosure to the Philippine Stock Exchange, Lepanto said its net loss in January to June 2013 has amounted to P101.30 million, as compared to a net income of P50.40 million a year ago. Consolidated revenues for the first half of 2013 totaled P997.8 million, from P1.11 billion during the same period in 2012.