The group posted a pre-tax loss of £3.00mln in the six months to the end of 2012, versus a loss of £1.25mln the year before. The principal reason for the loss was the share of losses of associates of £2.07mln, which was due to the impairment charge taken on a major investment, Jupiter Mines Limited, at Regency's associate company Red Rock Resources ( LON:RRR ). "In the coming period, we expect continued news flow from operations at Direct Nickel and from our Australian activities, while corporate activity will continue to be a focus," Bell said.