Blenheim Natural Resources posts a loss of £234,588 for the year to the end of April compared with a loss of £252,123 last time.
A proportion of this loss relates to the further full impairment of the Company's investment in African Eagle Resources Plc of £82,345 (2015: £86,832).
After AFE entered administration, as announced by Blenheim on 3 February, the company then endeavoured to acquire AFE as a shell and relist it in South Africa. After due diligence by the company, it was not deemed economic to pursue this course of action. Operating costs, including maintenance of the company's AIM listing, were £175,227 (2015: £86,748), whilechanges in fair value of investments and profit on disposal of financial assets at fair value provided a net gain of £51,954 (2015: loss of £49,243).
At 9:14am: (LON:BNR) Blenheim Natural Resources Plc share price was -0.02p at 0.35p