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EARNINGS SUMMARY: Eden Research, Fox Marble revenue up; LoopUp down

Wed, 05th Oct 2022 21:55

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

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Kanabo Group PLC - Tel Aviv-based medical cannabis company - Pretax loss for the first half of 2022 widens to GBP2.9 million from GBP2.4 million a year before. General and administration increase to GBP2.2 million from GBP888,000. Revenue multiplies to GBP239,000 from GBP15,000 a year before. Attributes this to the acquisition of GBP Services Ltd. Aims for another period of operational and financial growth. "The first half of 2022 was an extremely busy and productive period for the Company. Most importantly, the integration of GPS has gone according to plan, and I wish to give my thanks to all the staff at GPS for their assistance on making this as seamless as possible," CEO Avihu Tamir comments.

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Microsaic Systems PLC - Surrey-based mass spectrometry equipment - Pretax loss in the six months to June 30 narrows to GBP823,957 from GBP2.1 million a year before. Revenue rises 47% to GBP734,914 from GBP499,285. "The change in business strategy which began in 2021 has carried through to 2022. The result of which can be seen in the increased revenues and gross profit which have led to reduced losses," Acting Chair Gerry Brandon comments. Expects the solid sales momentum to continue through the second half.

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Bezant Resources PLC - copper-gold project developer - In the first half, pretax loss narrows to GBP348,000 from GBP510,000 a year before. Share-based payments fall to GBP29,000 versus GBP160,000. Records no revenue, unchanged from the comparable period. Feels "very confident" with the underlying quality of its project portfolio in copper, gold and battery manganese.

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LoopUp Group PLC - London-based software provider for remote meetings - Pretax loss in the first half of 2022 widens to GBP7.1 million from GBP4.4 million a year ago. Revenue falls to GBP6.6 million from GBP11.5 million. Expects Meetings business to return back to growth in second half and 2023. Remains excited about the growth potential of its Cloud Telephony solution.

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Artemis Resources Ltd - Perth-based miner with gold, copper and cobalt projects in Australia - In the first half of 2022, pretax loss narrows to USD7.5 million versus USD10.5 million, year-on-year. Project and exploration expenditure write-off costs drop to USD4.7 million from USD7.1 million. Revenue falls to USD33.4 million from USD133,815. Notes a "very challenging setting of Covid restrictions," acute industry-wide personnel and rig shortages and extensive assay turnaround times. Continues to focus on its core projects, the Paterson Central gold and copper project and the Carlow Castle gold.

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Borders & Southern Petroleum PLC - London-based independent oil and gas exploration - Pretax loss for the half-year to June 30 widens to USD857,000 from USD446,000 as administrative expenses jump to USD747,000 versus USD546,000. Finance cost soar to USD110,000 versus USD1,000. Records no revenue, unchanged from a year before.

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Fox Marble Holdings PLC - focused on marble quarrying and finishing in Kosovo and the Balkans region - Pretax loss in the first half of 2022 widens to EUR825,000 from EUR683,000. Revenue rises to EUR272,000 versus EUR196,000, as revenue from the sale of processed marble product increases. Agrees heads of terms for the proposed acquisition of Eco Buildings Group Ltd and notes that it would constitute a reverse takeover.

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Eden Research PLC - Oxfordshire-based sustainable crop protection and animal health firm - Pretax loss in the six months to June 30 narrows to GBP1.3 million from USD1.8 million a year prior. Revenue rises 32% to GBP1.0 million versus GBP785,294, as product sales increased 51%.

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By Abby Amoakuh; abbyamoakuh@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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TRADING UPDATES: Horizonte subsidiary hit with debt injunction

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

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5 Mar 2024 14:19

IN BRIEF: Bezant Resources extends funding facility repayment

Bezant Resources PLC - explorer and developer focused on a pipeline of copper and gold projects in Africa, South America and Southeast Asia - Confirms that it has agreed to extend the repayment date for GBP700,000 drawn down under an unsecured convertible loan funding facility with Sanderson Capital Partners Ltd, which it entered on November 22, 2021. The GBP700,000 drawdown is now repayable by July 31, 2025, and convertible at 0.06 pence per share. No further amounts can be drawn down under the facility.

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9 Feb 2024 14:24

IN BRIEF: Bezant Resources advances Namibian copper-gold project

Bezant Resources PLC - Explorer and developer focused on a pipeline of copper and gold projects in Africa, South America and Southeast Asia - Completed an environmental and social impact assessment at the Hope & Gorob copper-gold project in central Namibia, in which it holds a 70% stake. Supplementary work has also been undertaken, Bezant says, which will help to optimise the final mine design and expedite production at Hope & Gorob. The company is also in negotiations regarding the mine's initial development, which also relate to project-based financing for Hope & Gorob. According to an October mineral resource estimate, the mine contains 15 million tonnes of ore at 1.2% copper and a projected average grade of 0.4 grams of gold per tonne.

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9 Feb 2024 10:26

Bezant progresses towards mining licence at Hope and Gorob

(Sharecast News) - Bezant Resources updated the market on its Hope and Gorob copper-gold project on Friday, located within EPL 5796 in central Namibia.

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4 Dec 2023 11:40

IN BRIEF: Bezant unleashes 3 billion new shares, stock falls

Bezant Resources PLC - Botswana-focused copper and gold explorer and developer - Raises GBP800,000 from issuing 3.20 billion new shares at 0.025 pence each. Fundraise includes placing of 3.03 billion shares for GBP758,000 and subscriptions for 168.0 million shares for GBP42,000 in total. Executive Chair Colin Bird subscribed for 60.0 million shares at GBP15,000 while Finance Director Raju Samtani subscribed for 48.0 million at GBP12,000, totalling 3.38% of the fundraising amount. Bezant will mainly use proceeds for work on the Hope & Gorob project in Namibia, but some funds will go towards the Kanye project in Botswana, Mankayan in the Philippines and Eureka in Argentina. Adds that it recently completed ore sorting test work at Hope & Gorob.

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30 Oct 2023 15:56

TRADING UPDATES: Bezant optimistic after Hope & Gorob estimate

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

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27 Oct 2023 11:42

Bezant reports mineral resource estimate for Hope and Gorob

(Sharecast News) - Bezant Resources unveiled the results of an updated indicated and inferred mineral resource estimate (MRE) for the Hope and Gorob copper project on Friday, located within EPL 5796 in Namibia.

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29 Sep 2023 14:51

EARNINGS AND TRADING: Equipmake strikes GBP1.8 million London bus deal

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

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6 Sep 2023 15:40

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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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24 Jul 2023 20:15

IN BRIEF: Bezant Resources reports encouraging results in Botswana

Bezant Resources PLC - copper and gold explorer and developer - Reports encouraging results of Phase 1 metallurgical testing carried out by Wardell Armstrong International on a sample from its 100% owned Kanye manganese exploration project in Botswana. Explains the primary objective of the work was to investigate the amenability of extracting manganese from the Kanye mineralisation by sulphuric acid leaching. Notes sulphuric acid leaching successfully demonstrates an amenability to extract manganese from the Kanye sample into solution, with recoveries of up to 99.4% manganese achieved at a temperature of 60 degrees centigrade. Adds sulphur dioxide addition was found to have a direct correlation to the overall manganese recovery. Based on the encouraging initial results, engages WAI to carry out Phase 2 test work. Colin Bird, executive chair says: "The next phase will move towards commercial optimisation of the leaching parameters, with specific emphasis on limiting sulphuric acid consumption."

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21 Jul 2023 15:38

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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12 Jul 2023 12:47

Caerus Mineral Resources loss widens during tumultuous 2022

(Alliance News) - Caerus Mineral Resources PLC on Wednesday said its loss widened in 2022, citing a "tumultuous year".

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30 Jun 2023 16:22

Bezant Resources swings to annual profit; notes volatile copper price

(Alliance News) - Bezant Resources PLC on Friday reported an annual swing to a profit amid an increase in the value of an investment, as it emphasised a higher copper price.

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15 Jun 2023 19:56

IN BRIEF: Bezant agrees extension to loan facility repayment date

Bezant Resources PLC - copper and gold explorer and developer - Agrees to extend the repayment date for the GBP700,000 drawn down under the unsecured convertible loan funding facility entered into with Sanderson Capital on November 22 2021. This will now be repayable by December 23 2024 and convertible at the fixed price of 0.08 pence per share. Pays a loan extension fee via a GBP70,000 payment to be settled by issue of 87.5 million shares at the new conversion price and the issue of 437.5 million warrants over shares exercisable at 0.12 pence per share.

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15 Jun 2023 11:22

Bezant extends repayment on Sanderson Capital facility

(Sharecast News) - Copper-gold explorer and developer Bezant Resources announced an agreement with long-term shareholder Sanderson Capital Partners to extend the repayment date on a £0.7m unsecured convertible loan funding facility.

Read more

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