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Pin to quick picksFulcrum Metals Share News (FMET)

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EARNINGS AND TRADING: Solid State and MTI Wireless win deals

Tue, 07th May 2024 13:47

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

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MTI Wireless Edge Ltd - communication and radio frequency technology firm - Wins three orders totalling around USD3 million. Says most will be supplied in current financial year. "Two of the orders were received by PSK, part of the group's MTI Summit division, from two Israeli customers for the provision of services and installation of systems, with the other order being received by the group's antenna division for military antennas from an Israeli system house," MTI adds.

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Solid State PLC - Redditch, England-based supplier & design-in manufacturer of computing, power, and communications products - Wins USD5.1 million order from US customer. Orders "combines hardware and software applications in a value-added industrial application". Solid State adds: "The customer solution, creates smart vending machines by enabling smart billing and intelligent inventory control and management through the combination of an industrial router and cloud based services. The success of this contract demonstrates the group strategy of broadening its complementary technology set and internationalising the group." Delivery of deal is expected to begin in second-quarter of 2024 and be completed by middle of 2025.

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Ebiquity PLC - London-based media and marketing consultancy - Revenue in 2023 rises 6.8% to GBP80.2 million from GBP75.1 million. Pretax loss narrows to GBP2.6 million from GBP7.3 million. Chief Executive Officer Nick Waters says: "We delivered a solid performance in 2023, expanding relationships with clients, progressing our business transformation programme and continuing to build scale in the US, the world's largest advertising market." Says outlook for advertising industry "appears slightly more positive for 2024". The CEO adds: "2024 will be an important year for our transformation, as we continue to enhance our use of technology, change our operating model and improve our ways of working. This will help further improve our client service, ensure greater efficiency and increase our medium and long term profitability."

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Genflow Biosciences PLC - London-based biotechnology company focused on age-related diseases - Pretax loss in 2023 widens to GBP1.6 million from GBP1.3 million. Administration expenses largely flat at GBP1.8 million. Genflow posts "other operating income" of GBP169,854, down from GBP487,293 on-year.

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Eden Research PLC - focused on sustainable biopesticides for use in crop protection and animal health - Revenue in 2023 totals GBP3.2 million, a rise of 75% from GBP1.8 million. Pretax loss widens to GBP6.9 million from GBP2.6 million. Eden adds: "As we look to continue our positive momentum from 2023, Eden expects to see a healthy increase in existing product sales throughout 2024, driven by new regulatory approvals and label extensions in key geographies and supported by our key partnerships with industry-leading partners."

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Mincon Group PLC - Shannon, Ireland-based rock drilling tool manufacturer - Says "subdued" trading conditions seen at end of 2023 continue in 2024. "During Q1 2024, we saw some contraction in construction activity in North America and Europe and a slight contraction in our mining & geothermal/waterwell revenue which have had an adverse impact on group margins," Mincon says. Promisingly, it adds that "order books have begun to recover". "This has given us optimism for our performance in Q2 2024 and the remainder of the year," it says. Mincon adds: "After a difficult start to the year, we are positive about the outlook for the remainder of 2024 and are confident that the changes made on foot of the business review allied with the positive impact of our new products will drive margins and growth in the longer term."

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GreenRoc Mining PLC - developer of critical mineral projects in Greenland - Preliminary feasibility study "confirms compelling case" for an anode plant to make graphite from concentrate produced at its Amitsoq mine in Greenland. The study suggests a pretax net present value, at 8% discount rate, of USD837 million. Study suggests total gross revenue of USD6.5 billion over 22-year period, with gross profit of USD2.7 billion. Chief Executive Officer Stefan Bernstein says: "This feasibility study firmly places GreenRoc as one of the few contenders to supply the European EV Battery industry with domestically produced active anode material." Alba Mineral Resources PLC, which owns just over 37% of GreenRoc, notes the announcement.

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Fulcrum Metals PLC - mineral explorer in Canada - Hails "positive initial results" from phase 1 sampling and testing programme at Teck-Hughes gold tailings project in Canada. CEO Ryan Mee says: "I am delighted that the results of the sampling and testing of the gold grades at Teck-Hughes have come in above expectations and at 16.9% higher than the historical reported average." Panther Metals PLC notes the announcement. It has just over a 15% stake in Fulcrum.

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By Eric Cunha, Alliance News news editor

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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IN BRIEF: Fulcrum Metals starts sampling, testing programme in Ontario

Fulcrum Metals PLC - mineral explorer in Canada - Announces the start of the phased sampling, testing and study programme at the Sylvanite Gold Tailings project in Ontario, Canada. The programme is designed to confirm the gold content in the tailings and evaluate the efficiency of Extrakt's processing technology in recovering gold and other by-products from the tailings at Sylvanite estimated to be approximately 4.14 million tonnes at 0.47 gramme per tonne gold for 67,051 ounces contained gold. Eight site locations have been selected for sampling across the Sylvanite tailings area designed to obtain a representative sample set for analysis and testing. Composite samples of tailing material from each site to be sent to the Extrakt's testing facility in Kentucky.

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Fulcrum kicks off phased test programme at Sylvanite project

(Sharecast News) - Canada-focussed mineral exploration and development company Fulcrum Metals announced the start of a phased sampling, testing, and study programme at its Sylvanite Gold Tailings project in the Kirkland Lake area of Ontario on Monday.

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6 Jun 2024 21:41

IN BRIEF: Fulcrum Metals "thrilled" by gold grades in Canadian testing

Fulcrum Metals PLC - mineral explorer in Canada - Announces strong initial leaching results from the Phase 1 sampling and testing programme using Extrakt Processing Solutions LLC's non-toxic technology at the Teck-Hughes gold tailings project in Ontario, Canada. Says a proportionate mixed composite sample of all six sites grading 0.723 grammes per tonne gold was submitted for batch leach testing using Extrakt technology for gold recovery rates. Preliminary leaching results from the "as-received" composite sample achieves strong initial gold recovery rates of up to 59.4%. Optimisation of operational parameters are underway to achieve targeted recovery rates beyond 60% focussing on overall efficiency and cost effectiveness. Chief Executive Ryan Mee says: " I am thrilled with the exceptional gold grades from our initial sampling and testing programme which are 16.9% higher than the historical reported average grade."

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

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17 May 2024 15:41

Fulcrum Metals extends date for sale of uranium assets

(Sharecast News) - Fulcrum Metals announced an extension to the completion date for the proposed sale of its Saskatchewan uranium projects to Terra Balcanica Resources on Friday.

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1 May 2024 16:13

EXECUTIVE CHANGES: New chairs for CVS Group, LSL Property and Videndum

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1 May 2024 12:32

Fulcrum Metals annual loss widens as Chair Garston to step down

(Alliance News) - Fulcrum Metals PLC on Wednesday said that the year ahead promised to be exciting period of growth as it reported a widened loss.

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10 Apr 2024 13:36

TRADING UPDATES: Fulcrum acquires Ontario gold tailings project

(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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10 Apr 2024 10:17

Fulcrum Metals acquires Canadian gold tailings project

(Sharecast News) - Mineral exploration and development business Fulcrum Metals has agreed to acquire the Sylvanite Gold Tailings project, located in Kirkland Lake, Canada.

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3 Apr 2024 12:51

Fulcrum Metals signs letter of intent for sale of uranium projects

(Alliance News) - Fulcrum Metals PLC on Wednesday announced that it signed a letter of intent to sell its Saskatchewan uranium projects.

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30 Jan 2024 14:20

IN BRIEF: Fulcrum grants option to GEMC for Saskatchewan properties

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

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