Pinetree Capital Ltd. (PNP.TO) said Friday it incurred a net loss for the year ended December 2012, owing to significant investment losses.
The Canada-based investment and merchant banking company reported a net loss of
$146 million or $1.07 a share for the year ended December 2012, as compared to $298 million or $2.19 a share last year. Loss per share was $1.07 for the year ended December 31, 2012, as compared to $2.19 for the year ended December 31, 2011.
Pinetree, which focuses on the small cap market, has investments primarily in the resources sector such as precious Metals, base Metals, oil and gas, among others.
As of December 2012, the company said its total investments at fair value was $270 million, down 37% from the prior year. Net asset value per share decreased 41% to $1.55 as of December 2012.
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