The company is looking at investments in early stage exploration projects, and developing a portfolio of natural resource stocks in companies that are listed or at the pre-initial public offering stage. Coburg said that it hopes with time to develop a portfolio consisting of around 20 companies. It will also focus on a potential reverse-takeover of a natural resources company, although it noted it is not restricted to that sector.
The company posted a pretax loss of
The company opted to reduce the carrying value of its 10.9% interest in
It said it currently has no reason to believe that African Eagle's shares will resume trading at a significantly lower price than the 0.28 price at the time of suspension.
Shares in Coburg are untraded Friday; it last closed at
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