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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Dar Global PLC - luxury international real estate developer - In a trading statement, reports revenue in the first quarter of 2023 of USD35.1 million, compared to USD80.0 million across the whole of 2022. First quarter profit before exceptional items is USD3.9 million compared to a loss of USD100,000 across 2022. Dar Global started trading on the London Stock Exchange in late February after its initial public offering. Chief Executive Officer Ziad El Chaar says: "Since listing, we have unveiled several exciting new developments and partnerships which continue to set Dar Global's business apart. These include the launch of AIDA in Oman, Dar Global's first integrated master plan and DG1, our first own-brand luxury living concept in Dubai's Business Bay district. During the year, we are planning to further expand our luxury brand portfolio offering with prestigious projects in the Spanish regions of Benahavis and Finca Cortesin, which will be developed in collaboration with world renowned luxury brands [...] These projects position Dar Global as a highly differentiated leader in luxury property development, well-prepared to navigate the wider macro-economic uncertainties and deliver sustainable growth for our shareholders. We are pleased with our progress to date on all our projects, sales continue to perform in line with our expectations and we are confident about our prospects given the markets we have chosen to be active in."
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Ecora Resources PLC - London-based natural resources royalty company - First quarter portfolio contribution is USD29.6 million, up 66% from the fourth quarter of 2022, due to "a combination strong steel making coal prices and higher saleable production from Kestrel", with around 850,000 tonnes derived from the group's private royalty area. Chief Executive Officer Marc Bishop Lafleche says: "The portfolio delivered in-line with our expectations for the quarter. Over the next twelve months the producing royalty portfolio is expected to deliver organic growth at Mantos Blancos, Voisey's Bay and from the Maracas Menchen ilmenite plant. In the second half of the year we also expect to see a number of key milestones at development projects including Piaui, Santo Domingo and Mantos Blancos phase 2." Adds: "At West Musgrave, we are delighted that we will have BHP, one of the world's largest diversified mining companies, as a partner during the construction of the copper-nickel mine and its subsequent operation over an expected 24 year mine life, with further production as well as life-of-mine extension upside potential."
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Gem Diamonds Ltd - diamond producer with diamond mining operations in Lesotho and Botswana - Sells 25,687 carats in the first quarter of 2023, up 14% from 22,509 carats in the fourth quarter of 2022. First quarter total value is USD36.7 million, up 13% from USD32.4 million in the fourth quarter. Ore tonnes treated is up 6% to 1.3 million from from 1.2 million, while waste tonnes stripped is up 45% to 2.5 million from 1.7 million.
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Brickability Group PLC - Bridgend, Wales-based construction materials distributor - Expects revenue in the year that ended March 31 of GBP681 million, up 31% from GBP520 million a year earlier, Expects adjusted earnings before interest, tax, depreciation and amortisation of not less than GBP50 million. Says this is above current market expectations. Says it remains confident that the group is well placed to continue delivering on its strategic objectives and the underlying organic growth of the business. Also notes acquisition pipeline "remains strong with the company assessing a number of potential opportunities in line with Brickability's stated strategy to provide geographic and product expansion".
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Castillo Copper Ltd - base metal explorer primarily focused on copper across Australia and Zambia - Says diamond core assays from the Tors Tank prospect in New South Wales "boosts confidence in the shallow, clay-hosted, rare-earth element discovery". Best intercept is 13 metres at 1,550 parts per million total rare earth oxides from 5 metres. At NWQ copper project in Queensland, says geology team will be undertaking site visits to several prospects - including Big One, Arya and Valparaisa - during the first half of 2023 to identify new drill targets.
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88 Energy Ltd - Australia-based, Alaska-focused oil explorer - Says Project Longhorn produces 425 barrels of oil equivalent per day gross in the first quarter of 2023.
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By Greg Rosenvinge, Alliance News reporter
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