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 GBP118,905 from a GBP38,734 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 GBP202,614 from a negative movement of GBP202,302. It takes a GBP17,831 loss on sale of financial assets, versus a GBP228,857 gain in financial 2021.
For the six months to September 30, swings to pretax loss of GBP315,898 from a GBP64,281 profit a year before. This is due to a loss on fair value of financial assets of GBP241,795, compared to a gain of GBP113,761 a year before. Cash in the bank on Friday last week is GBP70,437.
"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 USD4 to USD5 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%
By Tom Waite, Alliance News editor
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