Flinders Resources Ltd (CVE:FDR) the graphite firm on Thursday reaffirmed the new name of the business if a merger with Tasman Metals (CVE:TSM) goes through, as it announced reduced losses in its six-month earnings to April 30.
In May the company announced plans for merger and it proposed that the combined company, should the potential merger be successful, be known as Kinetic Materials Corporation, or such other name as the company may decide.
Net loss and comprehensive loss was C$449,683 in the three months to April versus a loss of C$713,996 in the same period a year earlier. For the six months to April, the company recorded a reduced loss of C$1mln versus C$1.5mln in the same period a year ago.
Flinders shares were 5.3% higher at C$0.60 on Thursday, while those of Tasman were up 4.2% at C$0.25.