30th Apr 2018 17:06
LONDON (Alliance News) - Global Resources Investment Trust PLC said Monday a reduction in the value of the company's investments due to currency movements led to a 12% drop in net asset value.
"The principal factors influencing the company's net asset value since December 2016, currency movements to one side, have been the fall in the value of the company's investment in Siberian Goldfields from GBP2.9 million at December 31 2016 to GBP1.8 million now and a significant increase in the value of the company's position in the Bougainville based Kalia Holdings," the company said in its annual results statement.
For 2017, the company's net asset value was 19.7 pence, a decrease of 12% from the 22.4p as at the end of 2016. Losses on investments totaled GBP158,000 for the year, compared with GBP1.7 million gain in 2016.
Shares in the company closed 3.2% higher at 8.78p.
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