on VVV Resources Limited (isin : VGG9470B1004)
VVV Resources Limited Releases 2024 Financial Results Amid Strategic Shift
VVV Resources Limited reported its financial results for the year ended 31 December 2024 amid significant strategic changes. The company faced challenges in raising capital due to geopolitical and economic pressures, impacting its mining equities. The group reported a loss of £427,000 for the year, an increase from the previous year's loss of £117,000, largely due to impairment related to its Australian subsidiary.
The group holds a 100% interest in the Mitterberg Copper Project in Austria and a 51% stake in the Shangri La polymetallic project in Western Australia. Despite these investments, the group’s cash balance fell to £5,000 by the year-end. A lack of revenues and a qualified audit opinion highlighted the uncertain financial landscape.
Post financial year, VVV raised £1,000,000 and plans to pivot towards sports and media ventures, selling its resource investments. The company was renamed VVV Sports Limited in June 2025 to reflect this new direction.
R. P.
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