Source - 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 £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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