Hot Rocks Investments plc Reports Final Results for FY2024

Hot Rocks Investments plc (HRIP) has released its audited financial results for the year ending 31 March 2024. Despite challenging market conditions, the company reported a profit of £46,984, contrasting sharply with the loss of £367,811 in the prior year. The firm has decided not to distribute a dividend and instead intends to reinvest the gains for potential capital growth.

Cash and cash equivalents for the year ended 31 March 2024 were £5,386, down from £21,928 in 2023. A significant post-year-end transaction included the sale of a 94% stake in Phoenix Digital Assets plc for £235,125, bolstering cash reserves to approximately £340,000.

The company also capitalized on a 5.6X return by selling its stake in Impact Oil & Gas Limited to Africa Oil Corp for £142,250. Investments in early-stage natural resources and technology firms remain a focus, with holdings in companies such as Elephant Oil Corp and Mosi Copper Limited showing promising developments.

Hot Rocks Investments remains committed to building its portfolio and is optimistic about future investments and growth opportunities. The recent loss of Chairman Brian Rowbotham was also acknowledged, with a tribute to his significant contributions over the years.