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(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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European Metals Holdings Ltd - Czechia-focused mineral exploration and development company - Notes progress in the development of its Cinovec lithium project in the Czech Republic. Says in the quarter ended December 31,the pilot programme undertaken at ALS Laboratories in Perth, Western Australia, has achieved its objectives. Adds that the delivery of the definitive feasibility study Cinovec is now scheduled for the first quarter of 2024. Total cash at December 31 was AUD5.7million, or GBP3.0 million.
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Hydrogen Future Industries PLC - London-based developer of wind-based green hydrogen production system - Says pretax loss in the financial year ended July 31 widened to approximately GBP1.1 million, widened from GBP700,000 a year ago, and did not generate any revenue, unchanged from financial 2022. Administrative costs fell 15% to GBP328,000 from GBP388,000 a year ago, but research and development costs were GBP402,000 compared to none year-on-year. Chair Neil Ritson says: "HFI is making extraordinary strides both in prototype testing of the wind turbine in Montana, with limited initial data corroborating wind tunnel results, and the novel electrolyser in California, which has recorded impressive efficiency from initial testing. The performance improvement of the HFI wind turbine over existing ones is potentially game changing on a world-scale and we look forward to moving closer to a position whereby we can demonstrate this."
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Prospex Energy PLC - Europe-focused gas and power project investor - Says Podere Maiar-1 well performed "very consistently" during the fourth quarter, with well production rates between 42,000 standard cubic meters per day to 62,000 scm/d. Following "favourable final test results" in January, it has set production to 78,000-80,000 scm/d. Notes that Podere Maiar-1 will supply gas to BP Gas Marketing under an 18-month deal. Chief Executive Officer Mark Routh says: "The operator of our Selva Malvezzi production concession, Po Valley Energy, continues with the sound reservoir management of the asset. The ongoing monitoring and maintenance of the production facilities and the well performance ensures it not only delivers the optimum gas production rates but moreover guarantees safe and reliable operations."
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Guild Esports PLC - London-based esports business - Says pretax loss narrowed to GBP4.5 million in the financial year ended September 30 from GBP8.7 million the year before, as administrative expenses fell 32% to GBP7.4 million from GBP10.9 million. Revenue rose 22% to GBP5.5 million from GBP4.5 million the year before. CEO Jasmine Skee says: "Guild continued its positive momentum into 2023, with our results showing rising revenues, falling costs and strong audience growth. With Guild Studios, Guild College and our Academy, we've diversified our revenue streams while continuing to attract global brands as sponsors. With our international expansion beginning and a strong sponsorship pipeline, we're looking to 2024 with confidence."
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Aterian PLC - London-based, Africa-focused miner - Reports up to 4.0% of copper and 26.9 grammes per tonne of silver from the sedimentary-hosted copper target in the Azrar project in Morocco, following sampling. Also identifies copper mineralisation within the previously mapped Adoudouian sediments. Chair Charles Bray says: "Multiple styles of copper mineralisation and gold have been discovered in the recently awarded expansion areas. We now better understand that the sedimentary-hosted copper potential of this project likely offers greater scale than previously determined. These recent results from the Azrar project are both very encouraging, with the continuation of the sedimentary-hosted copper, and fascinating, with the identification of multiple other geological sources of copper mineralisation. The laboratory analyses from these new licences are very positive, with the multiple zones of quartz veins identified reporting good copper and unexpected associated gold values."
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Quantum Exponential Group PLC - London-based quantum technology investment firm - Says pretax loss narrows to GBP599,666 in the half-year ended October 31 from GBP832,291 the year before, but says operating expenses rose 61% to GBP538,165 from GBP335,045 a year ago. Interim revenue mutliplies to GBP40,530 from GBP8,030 in the corresponding six-months in 2022. Chair Ian Pearson says: "The board believes the quality of investments made to date is extremely high, in companies with world leading quantum technologies and genuinely exponential growth potential. Through the hard work of a highly talented and committed executive team, the company is now positioned to exploit this progress and move to the next stage of its development.We are talking to a range of parties who share our vision and recognise the opportunities that quantum science brings to fuel advances in AI, medicines and material science."
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By Sabrina Penty, Alliance News reporter
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