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Investment company Primorus Investments said its expected a further rise in the share price of portfolio company Greatland Gold.
Primorus said its Greatland investment had appreciated significantly in value to over £1.85m, which was over 40% of the company's total market capitalisation, on further positive drilling results in Australia.
The current potential profit on its investment in Greatland was now over £1.25m.
'Whilst clearly at some stage we will take some profits we believe that the Greatland story has a long way to go from here,' Primorus said.
'There is still a large amount of important drilling to be released to the market and judging by the comments of the CEO of Newcrest in their recent reporting they like what they see so far.'
As for the rest of its investment portfolio, Primorus said it remained frustrated that it had not gained 'the recognition the board believes it deserves'.
'We demonstrated an ability in 2019 to exit unlisted investments in a very successful manner,' Primorus said.
'We now enter 2020 expecting to provide further exits, grow the portfolio and most importantly grow the share price based on meaningful results.'
At 8:53am:
(LON:GGP) Greatland Gold PLC share price was +0.19p at 5.23p
(LON:PRIM) Primorus Investments Plc share price was +0.1p at 3.4p