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Alliance News Detail


Blenheim Natural Resources Confident Of Making Further Investments

[ 29 Sep 2016 11:25 ]

LONDON (Alliance News) - Blenheim Natural Resources PLC on Thursday said it remains confident of making further purchases, as the natural resources sector investment company reported a narrowed annual loss.

Blenheim has managed to strike two deals so far in 2016. It bought a 27.1% stake in International Geoscience Services Ltd, a company spun out of the UK government's British Geological Survey in 2011. This provides consulting services and is developing a platform to pick exploration targets from geoscientific data.

Following Blenheim's financial year-end on April 30, the company also signed a subscription option agreement with TAM Mining Ltd in August. TAM has numerous operations in Africa that focus on precious and base metals and has a stake in the West Lumba gold project in Zambia.

The company said it continues to receive a number of investment opportunities and is confident it will be able to make further strategic investments.

For the year to April 30, Blenheim made a pretax loss of GBP234,588, slightly narrowed from GBP252,123 a year prior, thanks to a profit booked on the fair value of its investments, swung from a loss the previous year. This offset higher costs for the company, which makes no revenue.

Shares in Blenheim were down 9.4% at 0.326 pence on Thursday.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

Copyright 2016 Alliance News Limited. All Rights Reserved.


Blenheim Natural Resources Confident Of Making Further Investments - Alliance News

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