PALLINGHURST Resources, a holding company of a diversified mineral portfolio, more than trebled its annual profit to $55.4m following strong performances in its suite of assets.Pallinghurst reported net profit of $55.4m for the year to end-December compared with $14.7m a year ago, with its investment portfolio and income generated from operations growing to $62m from $21m.Its shares traded 4% higher at R3.50 from midday.Pallinghurst is invested in the Sedibelo Platinum mine and the Tshipi Borwa manganese mine in SA as well as London-listed Gemfields, a producer of emeralds and rubies in Zambia and Mozambique, respectively.There was currently "widespread pessimism" in the global resources industry, said executive chairman and chief operating decision maker at Pallinghurst, Brian Gilbertson."Although commodity prices are currently depressed, our robust operations should withstand the storm, even for an extended period. Each of our operations is well positioned to deliver its full valu...
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