The Company was originally formed and listed on the main Stock Exchange in January 1988, as an investor in mining investments worldwide. After some success in the 1990’s the Company had some difficulties towards the end of the decade. In early 2001 the company was restructured by interests associated with Willie Paterson and Greg Melgaard. Its listing was moved to the AIM market, its name changed to Palmaris Capital plc and new management was installed. A capitalization of loans and a share placing allowed the Company to clear all existing debt. The main investments held in 2001 were a 23% holding in Mining Scotland Ltd, a major opencast coal mining operator in Scotland, and a 30% holding in Perseverance Corporation Ltd, a gold mining operation in Victoria, Australia. In February 2007, Palmaris shareholders’ interest in Perseverance was distributed by way of a dividend in specie.

In 2006 Mining Scotland Ltd changed its name to Scottish Resources Group Ltd. This is the sole remaining investment of Palmaris in which it now has a holding of 16.1%. Directors are confident of realizing the potential of this business which relates to its vast coal reserves and property assets.