- Trident Resources notched up a small maiden loss as it continued to hunt for a reverse takeover opportunity in the mining sector.

Trident Resources was incorporated in April to invest in mining opportunities and raised £4.0m from an initial public offering in October.

It posted a net loss for the six months through October of £128k.

'In the short time since the IPO, the company has seen a strong flow of potential acquisition opportunities, which are consistent with the acquisition criteria set out in our IPO prospectus,' Trident Resources said.

'The market volatility and global economic uncertainty that characterised the end of 2018, and which has persisted into 2019, has led to a reduction in the capital available to the mining sector,' it added.

'This scarcity of capital reinforces my belief that the company is in an advantageous position from which to secure an acquisition that creates value for shareholders.'

At 8:14am: [LON:TRR] Trident Resources Plc Ord 1p share price was 0p at 20.5p

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