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Gunsynd PLC - investment company focused on the natural resources sector - Says annual pretax loss widens to GBP991,000 from GBP558,000 the year before. Total administrative expenses in year ended July 30 rise to GBP471,000 from GBP347,000. Notes impairment on financial investments rises to GBP716,000 from GBP106,000. The rise was blamed on a GBP400,000 charge for Brazil Tungsten Ltd.
"The Gunsynd board has been able to make progress in a number of areas, not least its new investments in Rincon, Eagle Mountain and others plus the disposal of the investments in Sunshine Minerals, Kolosori and Bunker Hill, the latter being at a very large premium to the cost price. The board is also particularly pleased that three of our private investments completed an IPO in Q4 2020 at significant premiums to our original entry point," company says.
It adds: "Gunsynd continues to look at investments in line with its investment policy. Such investments if undertaken may or may not lead to a reverse takeover."
Current stock price: 1.87 pence
Year-to-date change: down 6.0%
By Paul McGowan; paulmcgowan@alliancenews.com
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