JOHANNESBURG (miningweekly.com) – JSE-listed Pallinghurst Resources expects its losses for the six months to June 30, to widen, owing to decreases in the valuation of the company’s investments.
A headline loss a share of $0.10 is anticipated for the half-year under review, deteriorating from a headline loss a share of $0.04 reported in the prior corresponding period.
In rand terms, the loss and headline loss a share will be R1.39, compared with the loss of R0.67 apiece in the six-month period to June 2016.
The fall in the Gemfields share price accounts for the majority of the unrealised loss for the six-month period.
Pallinghurst expects its net asset value (NAV) to be $363.1-million as at June 30, compared with the $366.9-million reported by December 31, 2016. the NAV a share is expected to reach $0.33, down from $0.48 during the same period.
Pallinghurst expects to publish its financial results on September 26.