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Pin to quick picksGCM Resources Share News (GCM)

Share Price Information for GCM Resources (GCM)

London Stock Exchange
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Share Price: 7.00
Bid: 6.75
Ask: 7.25
Change: -0.125 (-1.75%)
Spread: 0.50 (7.407%)
Open: 7.125
High: 7.25
Low: 7.00
Prev. Close: 7.125
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EARNINGS UPDATES: Insig AI momentum builds; Scotgold makes strides

Wed, 22nd Dec 2021 18:23

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

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Insig AI PLC - London-based machine learning and data science firm which serves the asset management industry, formerly known as Catena Group PLC - Revenue from trading activity for six months to September 30 jumps to GBP896,000 from GBP196,000, while pretax loss widens to GBP844,000 from GBP287,000. Administrative expenses increase to GBP2.2 million from GBP567,000, though it realises gain on share investment of GBP1.4 million versus nothing a year before. Says each month continues to be "busier than the last" and firm expects this to continue. "The coming quarter and 2022 should demonstrate our ability to secure multiple contract wins, as we successfully leverage our machine learning technology and exploit it, so it fuels fast growing and increasingly higher margin revenues. I look forward to a very exciting 2022," says Chief Executive Steven Cracknell.

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Scotgold Resources Ltd - gold and silver explorer and producer in Scotland - Posts revenue of USD299,807 for financial year ended June 30, versus nothing a year ago. However, pretax loss widens to USD5.0 million from USD2.5 million. Says that as of August 2021, it has consistently achieved production revenue that exceeds operational costs. "December production currently looks to be another step change higher than previous months, further demonstrating the significant strides we're making as a team," says Chief Executive Phil Day. Adds that operational and strategy update will be made in January 2022.

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GCM Resources PLC - Phulbari coal and power project in north-west Bangladesh - Pretax loss for financial year ended June 30 widens to GBP1.9 million from GBP1.5 million the year before. No revenue generated in either period. Says pandemic meant progress did not meet expectations in the year. "We have remained focussed on delivering returns on shareholder investment through packaging the project in its best possible form with the key step still being approval from the Bangladesh Government," company says.

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Critical Metals PLC - Africa-focused natural resources investor - Pretax loss for financial year to June 30 GBP347,584, widened from GBP98,293 the year before. No revenue generated in either period. Says it has been completing due diligence on deal to purchase a controlling position in a company that holds the rights to a previously producing copper-cobalt property in the Democratic Republic of Congo. Plans to file for readmission to the London Stock Exchange in early 2022 as a mining company enlarged by the acquisition of an indirect controlling interest in the Molulu Project. "The goal of our company to become cash flow positive in 2022 and beyond is still intact, and, looking forward, I am very excited about what the entry into 2022 will hold for Critical Metals. The board believes that 2022 will be a year of significant growth for the company as we look to advance our strategy and create value for shareholders," it says.

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Bens Creek Group PLC - owner of metallurgical coal mine in North America - Reports pretax loss of USD605,665 for period stretching August 11 to September 30, 2021. Of this, USD483,750 attributable to costs associated with listing process. Firm was incorporated in August and then floated in London in October. Says target remains to be shipping coal and generating revenue by the end of the first quarter of 2022.

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Goldplat PLC - gold recovery operations in South Africa and Ghana - Revenue for financial year ended June 30 rises to GBP35.4 million from GBP24.8 million the year before, but pretax profit falls to GBP3.7 million from GBP5.7 million. This is due to cost of sales jumping 67% to GBP29.2 million from GBP17.5 million, outstripping the pace of revenue growth, which was 43%. It notes higher input costs and tighter margins in South Africa. "The company will remain focused on sharing future cashflows with shareholders, specifically distributing cash surplus to the Group's operational requirements and growth plans to shareholders," it says.

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Caledonian Trust PLC - Edinburgh-based property investment holding and development company - Net asset value per share at June 30 208.4p, up from 204.5p year-on-year. Revenue in year jumps to GBP4.6 million from just GBP536,000 the year prior, and pretax profit jumps to GBP460,000 from GBP95,000. "The board does not recommend a final dividend, but intends to restore dividends when profitability and consideration for other opportunities and obligations permit," the firm says.

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By Lucy Heming; lucyheming@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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IN BRIEF: GCM Resources pretax loss narrows, expenses decline

GCM Resources PLC - London-based mining and energy company - Reports pretax loss in year to June 30, 2023 of GBP1.3 million, narrowed from GBP1.7 million the year prior. No revenue. Operating expenses fell to GBP728,000 from GBP750,000, pre-development expenditure tumbled to GBP180,000 from GBP414,000. Basic loss per share was 0.7 pence compared to 1.1p the year before. Shares will remain suspended until the settlement and completion of subscription to raise GBP500,000, previously announced on Friday last.

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IN BRIEF: GCM Resources raises GBP500,000 via direct subscription

GCM Resources PLC - London-based mining and energy company - Raises gross proceeds of GBP500,000 via a direct subscription for shares at 1.65 pence each. The subscription price represents a discount of 38% to the closing price of 2.65p on Thursday. The net proceeds of the fundraise will be used to provide GCM with a source of general working capital to progress its existing projects. Adds that it will need to carry out an additional fundraise before the end of May 2024 to fund its working capital for the next 12 months.

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IN BRIEF: GCM Resources claims progress on funding and annual results

GCM Resources PLC - Resource exploration and development company focused on the Phulbari coal and power project in north-west Bangladesh - Provides update regarding the publication of audited financial statements for the year ended June 30 2023, and the funding process. As of December 28, GCM was still awaiting receipt of GBP300,000 in drawdown funds of loan facility with Polo Resources Ltd. Reports progress on both financial statements and funding process, looks to resolve both issues before the end of January 2024. Will make a further announcement in due course.

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IN BRIEF: GCM Resources shares to be suspended following audit delay

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