IN BRIEF: BWA Group loss widens but focused on acquisitions

BWA Group PLC - minerals exploration investment company - Pretax loss in 2020 widens to GBP3.6 ...

Alliance News 18 June, 2021 | 8:11PM
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BWA Group PLC - minerals exploration investment company - Pretax loss in 2020 widens to GBP3.6 million from GBP670,078 in 2019. Administrative expenses slide to GBP242,788 from GBP378,104. Does not generate revenue in 2020 or 2019. Reports GBP3.6 million loss on revaluation of investments in 2020 compared to GBP314,285 in 2019.

Notes likely need to perform additional fundraising or realise certain investment assets in the next 12 months.

Company's main investments are a 90% interest in BWA Resources UK Ltd, which owns 100% of BWA Resources Cameroon Ltd, the holder of two exploration licences for rutile sands in Cameroon and a 100% interest in Kings of The North Corp, an exploration company with licences in Ontario and Quebec in Canada.

"The directors will use their experience to identify appropriate targets, carry out due diligence and negotiate acquisitions and investments. When appropriate, the directors may consider further fundraising to provide additional resources for the company ahead of such an acquisition or investment," company adds.

Current stock price: 0.70 pence

Year-to-date change: up 7.7%

By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
BWA Group PLC 0.65 -

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