SPECIALISED mining company Mine Restoration Investments (MRI), which reverse-listed into cash shell Capricorn last year, on Friday reported a loss of R5.2m for the 14 months ended February.MRI’s main projects are a coal briquetting project and an acid mine drainage project.The reverse listing involved MRI being acquired by Western Utilities, whose financial year-end was previously December.The Companies and Intellectual Properties Commission approved the change of the year-end of MRI’s acquisition, Western Utilities, to the end of February in line with the financial year-end of MRI.Looking at MRI’s results without the Western Utilities acquisition and the accompanying accounting rules, MRI improved on its headline loss per share, suffering a 6.55c per share loss at the end of December last year, compared with a headline loss per share of 17.4c reported for the period to December 2011.MRI’s coal-briquetting project continued to be delayed in the year.The commercial commissioning of t...
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