18th May 2022 14:52
(Alliance News) - Starvest PLC on Wednesday said its loss widened in the first half of its financial year but that there is positive outlook for gold and previous metals in the long-run.
Starvest is a London-based early-stage mineral exploration investor.
For the six months ended March 31, pretax loss widened to GBP2.4 million from 1.2 million compared to a year before, while net assets as at the end of March declined annually to GBP10.7 million from GBP14.7 million.
Chair Callum Baxter said: "Despite the inevitable increase in global interest rates to stem inflationary pressures, we believe that the effects of expansionary monetary policies, continued fiscal stimulus and geopolitical tensions favour a positive outlook for gold and precious metals in the longer term."
Starvest shares were down 11% at 10.25 pence each on Wednesday afternoon in London.
By Xindi Wei; [email protected]
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