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Pin to quick picksCritical Metal Share News (CRTM)

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EARNINGS SUMMARY: Lok'nStore profit grows; Rosslyn Data loss widens

Mon, 31st Oct 2022 18:01

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

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Semper Fortis Esports PLC - London-based professional e-sports team operator - Pretax loss narrows to GBP460,000 from GBP650,000 last year. Revenue rises to GBP50,000 from nothing last year, primarily due to sponsorships and sharing revenue from official Rocket League esports shop and prize winnings. Chief Operating Officer Jassem Osieran said "We have reduced our overheads in this climate whilst we are searching as a board for the right strategy in and around the esports and gaming sector. We have tried a number of approaches but have never over-invested in any single one, which we feel has been more prudent."

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Lok'nStore Group PLC - Farnborough, England-based provider of self-storage space - Six months to July 31, pretax profit increases to GBP15.9 million from GBP6.5 million last year. Revenue rises to GBP26.9 million from GBP21.9 million. Demand for UK self-storage assets remains strong and trading since the year-end has been good, company says. Executive Chair Andrew Jacobs says "we aim to build more Landmark stores in the under-supplied UK market. We are growing the business from a strong financial platform that gives us great flexibility to respond to market circumstances."

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Cloudbreak Discovery PLC - Vancouver, Canada-based natural resource project generator - In the year to June 30, pretax loss widens to GBP5.6 million from GBP902,060 a year ago. Profit on disposal of assets fell to GBP559,523 from GBP2.6 million. Cash and cash equivalents fell to GBP310,578 from GBP1.3 million last year. Says outlook for natural resources sector looks robust. Projects approaching the point where company can receive royalty payments.

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Mila Resources PLC - London-based gold company focused on Australia - Year to June 30, pretax loss widens to GBP1.1 million from GBP382,387 a year ago. Share warrant and options expense increased to GBP493,232 from nothing last year as part of the company's capital raise. Says it is well positioned to move forward with confidence in its objective of transitioning gold discoveries into significant resources. Looking forward says further funding will be needed to ensure that the exploration and evaluation activities can continue, and the project continues towards reaching its ultimate potential.

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Critical Metals PLC - Africa-focused natural resources investor - Year to June 30, pretax loss widens to GBP661,743 from GBP347,584 a year ago. Company recorded no revenue, unchanged from last year. Company intends to complete further exploration work and technical studies required to assess the larger technical and economic viability, with the mineralisation evident at the surface and at shallow depths. Mine development is underway with production expected to commence by the end of the calendar year, generating near-term free cashflow going forward.

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Rosslyn Data Technologies PLC - Portsmouth, England-based data management and analytics service provider - Year to April 30, pretax loss widens to GBP4.1 million from GBP3.0 million a year ago. Revenue falls to GBP2.7 million from GBP3.6 million. Rosslyn now "in growth execution mode". Has done a lot of "heavy lifting" in the last 12-18 months on the product, brand, team and the go-to-market model. Now looking to get a return on those investments in the short term while continuing to strengthen the foundations of the business to deliver sustainable growth in the long term. Says trading in first half of 2023 financial year has been as expected and company remains on track to deliver "increased revenue" for the full year.

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Renalytix PLC - London-based diagnostics company focused on kidney health - Year to June 30, pretax loss widens to USD49.6 million from USD35.8 million a year ago. Revenue increases to USD3.0million from GBP1.5 million. Administrative expenses widen to GBP58.3 million from GBP33.3 million. Operational progress continued into the first quarter of 2023, company says, with over 1,200 tests performed. More than 80% of these were billable, yielding about USD1.0 million revenue for the quarter. Says "these are record amounts for us in quarterly testing volumes and revenue".

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Shefa Gems Ltd - Israel-based formerly gemstone mining company, now cash shell - Six months to June 30, comprehensive loss narrows to NIS839,000 from NIS32.2 million a year ago as posts no impairment on exploratory assets against NIS29.0 million last year. In August of last year, shareholders approved the former gemstone miner becoming a cash shell "seeking acquisition opportunities in the web technology and software space", Shefa Gems explained. "It was decided to transfer all the company's exploration and mining assets to the company's fully owned subsidiary, Shefa in Israel Ltd," it explained.

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IMC Exploration Group PLC - Dublin-based exploration company - Year to June 30, pretax loss narrows to EUR260,796 from EUR338,480 a year ago. Expects remainder of the financial year to be "very progressive time" with conclusion of Karaberd Mine transaction. IMC Exploration is attempting to acquire MVI Invests, a special purpose company established to own 100% of Assat LLC, an Armenian-registered company that holds the mining licence for the Karaberd Mine. In a separate update IMC Exploration said that after Covid-19 delays to this transaction, the mine has progressed to IMC Exploration is now acquiring the "owner of an operating gold mine" rather than a company with a mining licence.

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Ananda Developments PLC - London-based grower and provider of medical cannabis - Six months to July 31, loss narrowed to GBP330,889 from GBP688,647 last year. Almost all of the change was a result of a fall in administrative expenses. Company owns 50% of DJT Group which was granted a licence from UK Home Office to grow less than 0.2% THC medical cannabis for research in April 2021. During July 2022, the DJT Group growing team began the first harvest and compiling data for later analysis.

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Technology Minerals - London-based company focused on creating a circular economy for battery metals - For the year ended June 30, pretax loss stands at GBP1.8 million in company's first year after IPO in November last year. Says funds raised, and subsequent strong progress in the period have provided company with an "excellent platform" to deliver on growth plans. Well-positioned for sustainable growth as company aims to become a key contributor in the global transition to electrification.

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By Chris Dorrell; chrisdorrell@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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IN BRIEF: Critical Metals' CEO sells shares for over GBP55,000 total

Critical Metals PLC - London-based developer and operator of the Molulu copper & cobalt project - Says that Chief Executive Officer Russell Fryer has sold 580,000 shares, totalling GBP55,242.80, in a number of transactions. Critical Metals says the sales "took place to meet urgent financial obligations including outstanding tax commitments".

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Critical Metals raises GBP1.6m for developments at Molulu

(Alliance News) - Critical Metals PLC said on Wednesday that it had engaged in a fundraise to finance its Molulu copper project and "move the company closer to being cash generative".

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EARNINGS AND TRADING: 888 advances US exit; Arrow ups reserve estimate

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Critical Metals raises GBP215,000 in placing to fund Molulu operations

(Alliance News) - Critical Metals PLC on Monday said it has raised GBP215,000 via a placing of 2.3 million shares at 9.5 pence per share.

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19 Dec 2023 16:59

Critical Metals advances Molulu project; ore sales expected early 2024

(Alliance News) - Critical Metals PLC has provided an operational update on Tuesday for its flagship Molulu copper-cobalt project.

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8 Nov 2023 09:21

Critical Metals establishes Molulu's first primary school

(Sharecast News) - Mining company Critical Metals said on Wednesday that it has successfully opened Molulu's first primary school.

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TRADING UPDATES: Anglo-Eastern output down year-to-date, Bushveld's up

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

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3 Nov 2023 09:25

Critical Metals annual loss widens as Molulu project gains ground

(Alliance News) - Critical Metals PLC said it "transformed" from explorer to copper producer in its latest financial year, with a widened loss caused by surging exploration and administrative costs.

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10 Oct 2023 13:42

Critical Metals to acquire Kastro plant assets for USD8 million

(Alliance News) - Critical Metals PLC on Tuesday said it entered a non-binding term sheet to rent and subsequently acquire 100% of a hydrometallurgical plant in the Democratic Republic of the Congo.

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10 Oct 2023 13:42

Critical Metals to acquire Kastro plant assets for USD8 million

(Alliance News) - Critical Metals PLC on Tuesday said it entered a non-binding term sheet to rent and subsequently acquire 100% of a hydrometallurgical plant in the Democratic Republic of the Congo.

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9 Oct 2023 11:44

Critical Metals to sell copper oxide ore to OM Metal & Resources

(Alliance News) - Critical Metals PLC on Monday said it entered into an offtake agreement with OM Metal & Resources SARL, a Kinshasa-based supply wholesaler, for the sale of at least 20,000 tonnes of copper oxide ore.

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21 Sep 2023 14:32

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(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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18 Sep 2023 14:37

TRADING UPDATES: Avingtrans buys Adaptix, TPXimpact sells Questers

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

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31 May 2023 19:40

IN BRIEF: Critical Metals raises GBP600,000 via placing to aid growth

Critical Metals PLC - London-based, Africa-focused investment vehicle, with a focus on the critical and strategic metals sector - Announces it has raised GBP600,000 via a placing at 25 pence per share, the proceeds of which will be used to assess acquisition opportunities. In addition, warrants to subscribe for shares are being granted in the ratio of one warrant for every one new share. The warrants are exercisable at a price of 40 pence per share for 18 months from the date of issue. Further, updates on recent progress at the Molulu copper/cobalt asset in the Democratic Republic of Congo. Reports two new copper anomalies were identified by the geophysics analysis on Molulu project. Believes that this will further increase the tonnage to the already known copper resource base. Anticipates drilling will begin in the second half of June 2023 once the first results of the phase 1 programme are received.

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