Metgasco Announces $5m Loss, Norco Reports $5.7m Profit


Casino based coal seam gas company Metgasco has announced a loss of more than $5 million to its shareholders at its Annual General Meeting.

The meeting held yesterday in Sydney also attracted protesters outside the venue including the Northern Rivers Guardians.

Metgasco’s managing director, Peter Henderson, says the loss was to be expected.

He says that’s what exploration companies face during this stage of their development.

Mr Henderson says the company is confident it will be able to sell gas next year.

Meanwhile Norco reports $5.7m profit to shareholders
Dairy co-operative Norco will report a profit of $5.7 million to its members at its annual general meeting in Casino today.

Source ABC

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