Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.

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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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UK shareholder meetings calendar - next 7 days

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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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22 Dec 2023 15:50

UK shareholder meetings calendar - next 7 days

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18 Dec 2023 18:33

EARNINGS AND TRADING: Goldplat profit tumbles despite revenue jump

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

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10 Nov 2023 10:17

Goldplat first quarter operating profit slightly down, net cash halves

(Alliance News) - Goldplat PLC on Friday reported a mildly weaker operating profit in the first quarter of financial 2024 amid tamer performance in South Africa and improvement in Ghana.

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10 Nov 2023 10:08

Goldplat reports slight dip in first-quarter profits

(Sharecast News) - South Africa and Ghana-focussed Goldplat reported operational results for its first quarter on Friday, with a combined operating profit of £1.87m excluding certain costs and financial factors, down slightly from £1.94m a year earlier.

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15 Aug 2023 12:39

Goldplat operations struggle in Africa but profit stays resilient

(Alliance News) - Goldplat PLC on Tuesday said it experienced severe operational difficulties in its fourth quarter, but that it delivered a strong operating profit and expects to surpass market expectations for its latest financial year.

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27 Jun 2023 14:01

IN BRIEF: Goldplat makes progress at South African operation

Goldplat PLC - mining services group with international gold recovery operations located in South Africa and Ghana - Says it is in the process of upgrading its tailing storage facility at the South African operation. Construction began in the second quarter, and was planned to be completed by the end of the fourth quarter, with one-month commissioning starting on July 1.

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31 May 2023 18:14

IN BRIEF: Goldplat names new COO, renews gold licence in Ghana

Goldplat PLC - London-based gold recovery services company, which has operations in South Africa and Ghana - Names Douglas Davidson as Chief Operating Officer. Notes Davidson has extensive operational experience built up in operating large plants for De Beers, Namdeb and Namakwa Diamonds. Further, says the renewal of the group's gold license in Ghana has been finalised and the export of product has started, but notes sales will only be recognised in the next financial period. In addition, states the electricity shortages in South Africa continue and the company has lost 28% of hours available during the first two months of the financial fourth quarter compared to 20% in the third quarter. Intends to buy diesel generators which will be able to sustain operations in South Africa during electricity cuts at a cost of GBP750,000, which will be financed over 36 months. Expects the capital cost to be recovered within two years.

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31 May 2023 14:00

Goldplat appoints COO, adds generators in South Africa

(Sharecast News) - Goldplat updated the market on its management team, licence renewal in Ghana, and electricity supply in South Africa on Wednesday.

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5 May 2023 19:25

TRADING UPDATES: Goldplat nine-month operating profit falls

(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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