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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 £2.4 million from 1.2 million compared to a year before, while net assets as at the end of March declined annually to £10.7 million from £14.7 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.
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