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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Altona Rare Earths PLC - mining company focused on projects in Africa - Completes 2021 drilling programme at Mozambique Monte Muambe project, on time and within budget. The programme included testing the lateral extension of known mineralisation in the crater as well as exploring four new targets where the company's geologist team identified possible deep carbonatite weathering.
Chief Executive Christian Taylor-Wilkinson comments: "Africa is a challenging operational environment. We have assembled a highly experience team, which is now starting to deliver as evidenced by the completed acquisition of the Monte Muambe REE project in June this year and already completing Phase 1 drilling."
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Conroy Gold & Natural Resources PLC - exploration and development company - Partners with Demir Export over the licences held by Conroy along its 65km district scale gold trend in the Longford-Down Massif in Ireland. The focus of the joint venture is the development of the gold deposit in the Clontibret licence to construction ready status and bringing it into operation as a gold mine. The parties further aim is to also develop the company's Northern Ireland licences and other licences within the Longford –Down Zone to construction ready status, Conroy explains.
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Serabi Gold PLC - gold miner in Brazil - Posts revenue for third quarter ended September 30 of USD14.2 million, down slightly year-on-year from USD15.9 million. Operating pretax profit falls to USD2.6 million from USD4.8 million. The average gold price per ounce received for the quarter was USD1,753, a drop from USD1,881 in the same period last year. "The financial results reflect the continuing benefits of solid gold production over the first nine months of 2021, a continued strong gold price and favourable exchange rates," says Chief Finance Officer Clive Line.
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Custodian REIT PLC - Leicester, England-based real estate investment trust - Declares interim dividend per share of 2.5 pence, up from 2.0p a year earlier. Revenue for the first half ended September 30 declines slightly to GBP20.2 million from GBP20.3 million a year before. Posts massive swing in earnings, generating a pretax profit of GBP48.1 million from a GBP16.1 million loss last year. NAV per share on September 30 up 11% at 106.0p from 95.2p a year before. Portfolio value rises to GBP565.3 million from GBP532.3 million.
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Karelian Diamond Resources PLC - Dublin-based diamond explorer - Pretax profit for year ended May 31 drops to GBP422,192 from GBP446,710 year prior. Karelian is not yet generating revenue. Notes process of gaining a full mining permit to develop the company's diamond deposit at Lahtojoki, with its potential for pink diamond production, continues. Despite delays related to the Covid-19 pandemic, exploration continues on the company's exploration acreage in the Kuhmo region of Finland, which Karelian believes could be a new kimberlite province.
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Fidelity China Special Situations PLC - China-focused investment trust - Net asset value per share at September 30 down 17% at 348.18 pence from 351.76p year before. Falls to interim pretax loss of GBP363.1 million from a GBP621.6 million profit a year earlier. "History teaches us that these are usually the periods that offer the most attractive opportunities. Corporate earnings for the market are forecast to grow over 15% for the next twelve months, with the company's portfolio comfortably above this level," the trust says.
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Castillo Copper Ltd - Perth, Australia-based exploration company - Will focus on modelling a JORC compliant resource plus a third infill drilling campaign at its Big One deposit, as priorities. The Big One deposit sits within the core Mt Oxide project in northwest Queensland, Australia. Notes recent drilling campaigns have intersected relatively shallow copper mineralisation at the site. Managing Director Simon Paull comments: "Following a visit to the NWQ copper project by CCZ's chief geological consultant, which yielded fresh perspectives, the board has firmed up its objectives for 2022 which include geologically modelling an inaugural JORC compliant resource for the Big One Deposit."
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By Will Paige; willpaige@alliancenews.com
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