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TRADING UPDATES: Itim revenue up 15%; Aminex completes seismic dataset

Thu, 29th Feb 2024 14:24

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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Itim Group PLC - London-based software solutions provider to retailers - Says 2023 revenue increases by 15% to GBP16.1 million from GBP14.0 million the year before, in line with expectations. Annual recurring revenue remained constant at approximately GBP13.1 million. Expects earnings before interest, tax, depreciation and amortisation to be around GBP680,000, up from GBP210,000 in 2022. Expects pretax loss to be ahead of expectations.

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Aminex PLC - oil and gas investment company focused on Tanzania - Says that the 3D seismic dataset over the Ruvuma production sharing agreement improves volumetrics for the Ntorya gas discovery, with the dataset revealing higher resource potential in the licence area. Chair Charles Santos says: "Completion of the 3D seismic data interpretation is another important milestone for the Ntorya gas field development, and I am delighted that the results are so positive. The quality of the new 3D seismic dataset was excellent, giving the [joint venture] partners the ability to map in detail the Ntorya gas discovery, refine volumetric estimates and provide the basis to locate future appraisal and development drilling targets. We are particularly excited by the significant potential gas volumes now identified in other untested structures within the licence area. To place these volumes in context, the Ntorya accumulation is potentially the largest onshore gas discovery in East Africa and, with the sizeable new exploration targets, should be much less expensive to exploit than offshore resources. Further announcements can be expected detailing a future programme of drilling and an associated schedule to commercialise these exciting new opportunities and add further value for all stakeholders."

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First Class Metals PLC - Ontario, Canada-focused exploration company - Says elevated grades of key critical metals are present at its Zigzag property in the Seymour-Falcon corridor in northwestern Ontario, Canada. This includes egallium, rubidium, caesium and tantalum. Notes that the initial geochemical results indicate the probable existence of a second structure. Chief Executive Officer Marc Sale said: "The results from our first drill programme at Zigzag are first class and have not only confirmed our belief in the potential of the 'core zone', but have also significantly exceeded our expectations for the property. The associated critical metals identified have added another dimension to the property's potential. Obviously more work is required specifically along strike and further exploration of the southern structure, hence we are to initiate discussion regarding a new exploration permit."

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Intelligent Ultrasound Group PLC - Cardiff, Wales-based provider of artificial intelligence ultrasound software - Says its NeedleTrainer and ScanNav Anatomy Peripheral Nerve Block are now part of NHS Scotland's anaesthetist training. Chief Executive Officer Stuart Gall said: "Ultrasound-guided needle insertion is now a key competency requirement for multiple specialities. This investment moves us closer to our vision of transforming medical training, ensuring safer practices, and ultimately enhancing patient care. Together, we are bridging the gap from classroom to clinic with innovative solutions that empower medical professionals across Scotland and beyond."

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By Sabrina Penty, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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5 Dec 2011 09:52

Aminex gets ready to spud Ntorya-1

Aminex, the oil and gas exploration company, has seen its share price rise 3.87% on news that it is about to spub its Ntorya-1 well in southern Tanzania. The company says the drill site was completed at the end of October and that "the rig camp is now fully installed". Aminex says it expects to st

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16 Nov 2011 13:01

Aminex progressing well

Aminex, the Africa- and US-focused oil and gas firm, has progressed well since the start of July, the firm said. The group's Nyuni 2 exploration well was suspended as a result of difficult drilling conditions, however the resource potential was not affected. Tests on the Nyuni 1 exploration well w

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6 Oct 2011 08:22

Obstructions stop work at Aminex well

Africa and US focused oil and gas firm Aminex has suspended further work on the Nyuni-2 exploration well off the coast of Tanzania due to obstructions near the base of the well, the firm said. Repeated attempts to drill out the obstructions were unsuccessful so a decision was made to cement off t

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22 Sep 2011 09:55

UPDATE: Thursday broker round-up

Burberry: AlphaValue downgrades to sell, target cut from 1,297p to 1,302.5p. Anglo American: Societe Generale upgrades to buy, target cut from 3,250p to 3,000p. TUI Travel: Numis Securities downgrades to hold, target decreased from 180p to 160p. Aegis Group: Barclays downgrades to equal-weight, t

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20 Sep 2011 11:27

Aminex appoints new chief exec

Aminex, the Africa and US focused oil and gas firm, has appointed Stuard Detmer to the position of chief executive officer with immediate effect. The move will see him takeover the role from Brian Hall, who remains in his position as executive chairman. Shareholders will be asked to approve the

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16 Sep 2011 10:18

Obstruction delays progress at Aminex well

Aminex, the Africa and US focused oil and gas firm, saw its share price dip after the mining firm reported that it was unable to progress past a blockage in its Nyuni-2 well. The decision was made to pull back 3,000 meters, above the area of blockage, and to side-track the well, by-passing the obs

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13 Sep 2011 08:28

Aminex swaps Tanzania interests

Aminex, the Africa and US focused oil and gas firm, is seeking to complete a so called 'acreage swap' in Tanzania with its partner, Key Petroleum. In essence, the deal will see Aminex's 50% stake in the Songo-Songo transferred to its partner Key Petroleum after what the company describes as "slow p

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31 Aug 2011 09:46

Aminex desperate to get gas on shore

Aminex, the oil and gas company with operations in Tanzania and the southern US, saw a 33% increase in production in the first half of 2011 to the equivalent of 50,500 barrels of oil. The company's half-year results also show a pre-tax loss of $896,000, better than the $2.49m loss in the same perio

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26 Aug 2011 09:11

Aminex reports 'satisfactory progress' in Tanzania

Aminex, the oil and gas firm with operations in Africa and the US, said that operations at its Nyuni-2 exploration well in the Indian Ocean have made "satisfactory progress" despite some delays. The rig at the well, being drilled from Nyuni island off the Tanzanian coast, was shut down for eight da

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30 Jun 2011 17:35

Ocean Wilsons director splashes out

Board member Alex Cooper has upped his stake in Ocean Wilsons, spending nearly £50,000 on shares in the Brazil-focused shipping services group. Cooper, a lawyer and resident of Bermuda, bought 3,550 shares at 1,360p a share, and now has 46,450. The shares have risen sharply since the company issue

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17 Jun 2011 13:29

Aminex commences drilling at Tanzanian well

US- and Tanzania-based oil and gas group Aminex announced that its Nyuni-2 well spudded shortly in the early hours of the morning on Friday. It is estimated that drilling to target depth at the well, located offshore Tanzania 30km off the mainland, will take nine to ten weeks. Nyuni-2 will be the

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8 Jun 2011 12:14

Aminex details its East Africa exploration programme

East Africa focused oil exploration company Aminex is today holding its annual general meeting in Dublin. In the accompanying slide presentation, posted on the company's website, the outfit describes the progress made in its different exploration activities in Tanzania. The company has recently rai

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30 Mar 2011 14:17

Another busy year ahead for Aminex

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18 Mar 2011 16:54

F&C chairman continues buying

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14 Mar 2011 16:47

London close: Japanese concerns knock Footsie

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