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Blumont expects Q1 loss on adjustments to financial assets

BLUMONT Group expects to report a first-quarter net loss due to fair value readjustments of investments in financial assets, the mining company announced late on Wednesday.

The adjustments were necessary because of recent volatility in financial markets and the global economy, the company said.

The company expects to report its results by May 15.

Blumont shares last changed hands at 1.2 Singapore cents on Wednesday, before the profit warning.