Blenheim Natural Resources widens loss, notes significant cash

Shares in Blenheim Natural Resources gained almost 10% on news of its significant cash resources as it posted a wider pre-tax loss for the 11 months to 31 March 2017 than for the year to 30 April 2016.

The company, which was changing its accounting date, booked a pre-tax loss for the period to 31 March of £295,170, from a loss of £234,588 in the year to 30 April 2016.

"As an investment company with significant cash resources, I believe that Blenheim is now extremely well positioned to continue to take advantage of opportunities in the natural resources and agribusiness sectors, in line with its investing policy," said chairman Chris Ells.

"The directors are currently considering a number of promising potential strategic investments including lithium opportunities in West Africa, in particular the Xantus option referred to earlier in this statement," said Ells.

At 11:25 BST, shares in AIM-quoted Blenheim Natural Resources were up 9.45% to 0.7p each.