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Pin to quick picksGulf Marine Services Share News (GMS)

Share Price Information for Gulf Marine Services (GMS)

London Stock Exchange
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Share Price: 18.70
Bid: 18.65
Ask: 18.95
Change: -0.80 (-4.10%)
Spread: 0.30 (1.609%)
Open: 19.55
High: 19.55
Low: 18.30
Prev. Close: 19.50
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TRADING UPDATES: Gulf Marine wins deal; Rockpool considers acquisition

Tue, 15th Nov 2022 21:23

(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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Gulf Marine Services PLC - United Arab Emirates-based lift boat company - Wins a new 6-year contract for one of its large class vessels in Europe. Says that the signing of the definitive contract remains subject to no complaints being raised during the applicable standstill period. The contract is with an unnamed, offshore windfarm developer. Does not disclose the financial details of the deal. "We are incredibly pleased to be awarded this contract, which is a further reflection of the strong demand for our vessels. This contract also reflects our long-term commitment to the renewable energy sector, as earlier announcements confirmed our commitment towards the oil and gas sector," Chief Executive Mansour Al Alami comments.

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Rambler Metals & Mining PLC - Surrey, England-based copper and gold producer - Says that it has taken a forward sale position for 750 metric tonnes of copper over a 12-month period at a price of USD8,330 per tonne. "This represents a nominal 11% of expected future copper production from the Ming mine, subject to completion of the 2023 budget," the company says.

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Quadrise Fuels International PLC - London-based residual oil technology licensor - Extends its exclusive global collaboration and emulsifiers sales agreement with Nouryon BV. The agreement will run for a further three years to October 2025. "We are delighted to have extended our long-standing and successful collaboration with Nouryon for a further three years. This extension reinforces the commitment of both parties to commercialising Quadrise's proprietary fuels and biofuels, providing more sustainable and economical solutions for the energy and marine sectors," Chief Executive Jason Miles comments.

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Technology Minerals PLC - London-based company focused on creating a circular economy for battery metals - Says the field exploration work is advancing on schedule at its North-West Leinster Lithium project in Ireland. Says that a total of 46 rock samples and 233 deep overburden samples along with 13 QAQC samples have been collected to-date and submitted to ALS Laboratories for analysis. Continues with deep overburden sampling and prospecting. This work is being carried out to help determine specific areas for follow up drilling, it says.

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Vaalco Energy Inc - Houston, Texas-based hydrocarbon explorer - Appoints Thor Pruckl as chief operating officer. He has over 30 years of international and domestic development, exploration, production and midstream experience in both onshore and offshore energy operations, the company says.

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Orcadian Energy PLC - North Sea focused oil and gas development company - Says its P2244 licence will now expire at the end of November 2023 following an extension. Says it will work towards a potential development decision on the pilot field, which has audited proven and probable reserves of 79 million barrels. Says the extension will enable it to progress this work.

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Firering Strategic Minerals PLC - operator of Atex dual lithium-tantalum project in Ivory Coast - Gets the first set of assay results from its maiden scout diamond drill programme at its flagship Atex Lithium-Tantalum project in Cote d'Ivoire in West Africa. Hails positive results from drilling. Says these confirm Atex's standing as the first "potentially significant lithium exploration project in Cote d'Ivoire." "These first assay results from our scout drilling at Atex show the first significant intercepts, including 64m, grading 1.24% lithium oxide. This is exceptional and amongst the best intercepts recently reported by our global peers and confirm the presence of lithium in our pegmatite system. We look forward to announcing the remaining assay results in the coming weeks, in particular the results for holes 18 and 19 for which we previously announced significant pegmatite intercepts with visible spodumene," Chief Executive Yuval Cohen says.

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Castillo Copper Ltd - Perth, Australia-based exploration company focused on copper across Australia and Zambia - Confirms a "significant" shallow clay-hosted rare earth element discovery at its BHA project's East Zone up to 2,410 parts per million total rare earth oxide, with high-value Magnet rare earth oxides representing up to 29.9% of the grade. "With global demand for REEs on an upward trajectory, the board is delighted the assays confirm a new shallow clay hosted REE discovery within the BHA project's East Zone," Chair Ged Hall comments. "This is a game-changing event for the group, as exploration efforts moving forward are going to focus on extending known REE mineralisation, especially at the Fence Gossan and Iron Blow Prospects in due course."

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Pure Gold Mining Inc - Vancouver-based gold mining company focused on Canada - Expects to release a pre-feasibility study technical report for its PureGold mine in the fourth quarter of 2022 as has been previously disclosed. Continues to evaluate several alternatives to advance an updated Life-of-mine Plan for the mine.

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Rockpool Acquisitions PLC - Belfast-based acquisition vehicle - Proposes the acquisition of Amcomri Group Ltd, a holding company of engineering and manufacturing businesses. If it is completed, it will constitute a reverse takeover. Requests the suspension of its shares as a result. Its share were suspended immediately. "I am delighted that we are able to announce the potential acquisition of Amcomri which is intended to see Rockpool transform from a SPAC into a profitable trading enterprise," Co-Founder & Non-Executive Director Mike Irvine says.

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By Abby Amoakuh; abbyamoakuh@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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13 May 2024 18:55

EARNINGS AND TRADING: itim loss narrows; Vela trims EnSilica stake

(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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4 Apr 2024 11:50

Gulf Marine shares rise as posts annual growth and sets out guidance

(Alliance News) - Gulf Marine Services PLC on Thursday reported double-digit earnings growth in 2023, and it set out its lofty 2024 guidance.

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4 Apr 2024 09:43

Gulf Marine Services annual profits grow, FY24 outlook strong

(Sharecast News) - Energy industry services business Gulf Marine Services said on Thursday that both revenue and profits had grown in 2023.

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11 Mar 2024 11:57

Gulf Marine Services inks contract for vessel in Middle East

(Alliance News) - Gulf Marine Services PLC said it has signed the first of a two phase, four-year, contract for one of its vessels operating in the Middle East.

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28 Feb 2024 12:04

Gulf Marine Services wins contract and award for Middle East vessels

(Alliance News) - Gulf Marine Services PLC on Wednesday said it extended a contract for one of its vessels which is currently operating in the Middle East, alongside receiving a letter of award for a separate vessel in the region.

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17 Jan 2024 11:50

Gulf Marine Services raises 2023 earnings guidance to 20% increase

(Alliance News) - Gulf Marine Services PLC on Wednesday updated its guidance for 2023, saying it now expects to report higher earnings than originally expected.

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8 Jan 2024 11:06

IN BRIEF: Gulf Marine Services inks contracts for small class vessels

Gulf Marine Services PLC - Provider of self-propelled and self-elevating support vessels for the offshore oil, gas, and renewables sectors - Announces contract extension for one small class vessel and a new contract for another small class vessel. Says that both the extension and the new contract are for vessels in the Gulf Cooperation Council. The contract extension, surpassing the initially issued duration, is for a period of an additional 176 days. The new contract is for a total duration of 210 days.

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6 Nov 2023 11:19

IN BRIEF: Gulf Marine Services ups full year outlook

Gulf Marine Services PLC - London-based provider of self-propelled and self-elevating support vessels, to customers in the oil, gas, and renewables sectors - Lifts annual outlook. Now expects earnings before interest, tax, depreciation and amortisation in the range of USD83 million to USD86 million for 2023, lifted from its previous USD77 million to USD85 million outlook. "Given significant improvement in backlog visibility and market outlook evidenced in the recently announced contract awards, alongside future opportunities we're bidding for, we are confident to increase our market guidance for 2023 and to provide an even higher initial guidance for 2024," it says. For 2024, it predicts an Ebitda in the range of USD87 million to USD95 million.

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1 Nov 2023 10:04

Gulf Marine Services shares jump on three contract awards

(Alliance News) - Gulf Marine Services PLC shares rose on Wednesday, after it announced two contract extensions and one new deal.

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31 Aug 2023 17:40

EARNINGS SUMMARY: Gulf Keystone swings to loss; Gulf Marine optimistic

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

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18 Jul 2023 16:55

TRADING UPDATES: Andrada raises GBP7.7 million; Ixico signs contract

(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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12 Jun 2023 10:38

Gulf Marine extends two contracts in Gulf Cooperation Council region

(Alliance News) - Gulf Marine Services PLC on Monday said it won two contract extensions in the Gulf Cooperation Council region, which it said reflected "highly favourable" market and the quality of its fleets.

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7 Jun 2023 14:33

IN BRIEF: Gulf Marine Services says 45% vote against chair as director

Gulf Marine Services PLC - United Arab Emirates-based lift boat company - Notes that 45% of shares cast at AGM vote against the re-appointment of Chair Mansour Al Alami as director of company. Further, 49% shares cast vote against authorising the allotment of shares and over 50% of shares cast vote against disapplying pre-emption rights in connection with a rights issue. The special resolution regarding the disapplication of pre-emption rights is the only one resolution that does not pass. It needed 75% approval.

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24 Apr 2023 12:20

Gulf Marine revenue rises; expects improved performance in 2023

(Alliance News) - Gulf Marine Services PLC on Monday said revenue was up in 2022, boosted by higher vessel rates, as it expects continued improvement on day rates in 2023.

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29 Mar 2023 11:03

IN BRIEF: Gulf Marine Services receives two contracts for vessel

Gulf Marine Services PLC - provides self‐propelled, self‐elevating support vessels for the offshore oil, gas and renewables industries - Announces award of two new contracts for one of its small class vessels in the Gulf Cooperation Council region. Says the daily rates secured for these contracts reflect strong demand for our vessels. The first contract will begin at the end of the first quarter, while the second contract will begin at the start of the third quarter. Says both contracts will span a cumulative period of 272 days.

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