StockMarketWire.com - Energy and natural resources company Ascent Resources reported losses that more than doubled and warned of 'material uncertainty' over its future.

Under the group's forecasts, the funds raised together with existing bank balances provide sufficient funding for at least the next two months, the company said.

But as the ability to 'raise these funds was not guaranteed there is material uncertainty which may cast significant doubt over the group and parent company's ability to continue as a going concern. '

For the year ended 31 December 2019, pre-tax losses widened to £2.67m from £1.36m on-year.

Performance was hurt by a decline in production and energy prices.


At 8:11am: [LON:AST] Ascent Resources PLC share price was 0p at 2.25p



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