Arcon International, the exploration company developing the zinc and lead deposit at Galmoy, Co Kilkenny, has reported net losses of £1.35 million in the first six months of 1997.

The preliminary figures issued yesterday include a once off restructuring charge of £1.4 million. Before tax the company reported profits of £950,000 and generated turnover of £8.1 million in the six month period. Its net debt stood at £39.5 million.

Arcon began operations at Galmoy in March this year, and has since processed 400,000 tonnes of ore. Up to the end of August some 244,000 were processed.

In total, more than 61,000 tonnes of zinc and lead concentrates have been produced to date and 18 shipments made, the company said yesterday.

Recent regional exploration work has identified additional targets and exploration drilling will be stepped up in 1998, according to Galmoy.