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Hot Rocks Investments PLC - AQSE-listed investor in junior natural resources companies - Releases results for financial year that ended March 31, 2022 and for the half-year ended September 30.
In financial 2022, swings to pretax profit of £118,905 from a £38,734 loss the year before. Hot Rocks has no revenue and expenses were similar each year, but it swings to a positive movement in fair value of financial assets of £202,614 from a negative movement of £202,302. It takes a £17,831 loss on sale of financial assets, versus a £228,857 gain in financial 2021.
For the six months to September 30, swings to pretax loss of £315,898 from a £64,281 profit a year before. This is due to a loss on fair value of financial assets of £241,795, compared to a gain of £113,761 a year before. Cash in the bank on Friday last week is £70,437.
‘We have continued to build and nurture our investment portfolio, and we are generally pleased with performance,’ comments Non-Executive Chair Brian Rowbotham.
‘We remain excited about the potential listing on Nasdaq of Elephant Oil Corp at a price of $4 to $5 per share where we hold 659,091 shares, and Mosi Copper Ltd, an Africa-focused copper exploration company where we are a founder shareholder and which we plan to float on a stock exchange when markets permit.’
Current stock price: 0.45 pence
12-month change: down 25%
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