on VVV Resources Limited (isin : VGG9470B1004)

VVV Resources Limited Releases Annual Report and Financial Statements for 2023

VVV Resources Limited has published its annual report and financial statements for the year ending December 31, 2023. This marks the first consolidated financial statement following the acquisition of VVV Resources Australia Pty Ltd.

The company faced numerous challenges in 2023, including global conflicts impacting metal prices and market sentiment. Still, some metal prices within its portfolio have peaked. VVV's investments include a 100% stake in the Mitterberg Copper Project in Austria and a 51% holding of the Shangri La polymetallic project in Western Australia.

The financial results show a loss of £117,000, down from a £156,000 loss in 2022, primarily due to regulatory costs. The company held cash balances of £36,000 at year-end, down from £208,000 the previous year. No dividend is recommended.

Looking forward, VVV Resources plans to explore additional mineral projects to enhance investor appeal and liquidity. The company also underwent board changes, with Malcolm Macleod stepping down and new appointments made to meet governance standards.

R. E.

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