Gunsynd PLC - UK-based investment firm - Reports pretax profit of GBP1.0 million for six months to end of January, swinging from loss of GBP608,000 a year before. Swing due to realised and unrealised market valuation gains for 'available for sale' assets of GBP1.3 million.
Company says it is pleased that a number of investments completed an initial public offering in fourth quarter of 2020 and first quarter of 2021 at "significant premiums" to their original entry point. Gunsynd further looks forward to the anticipated IPO of Low6 and future drill results from Eagle Mountain and Rincon.
"The company is still well funded for the foreseeable future. Gunsynd maintains a low fixed cost structure and this will continue through volatile and uncertain conditions across global markets," firm says.
Current stock price: 2.19 pence, up 5.5% on Friday
Year-to-date change: up 10%
By Lucy Heming;Â lucyheming@alliancenews.com
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Gunsynd (GUN)