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EARNINGS UPDATES: Ross Group, Goldstone, Caerus interim loss widens

Fri, 30th Sep 2022 21:57

(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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Henderson Eurotrust PLC - focused on European, excluding the UK, investments - Net asset value per share ends July 31 at 142.1 pence, sinking from 167.4p at the same point a year prior. Declares 3.8p dividend, rising from 2.5p a year before. NAV total return in year negative 13.9% versus benchmark returning negative 7.0%. It explains: "The backdrop has been of recovery from Covid, war in Ukraine and a resurgence of global inflation, and in a time of disruptive change companies with recovery prospects and low valuations have tended to outperform the types of company we own, especially in the early part of the year."

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Vertu Capital Ltd - Malaysia-based investment firm - In six months to June 30, operating loss before tax narrows to GBP61,478 from GBP86,099 the year prior. Operating expenses rises by same amount. Continues to progress proposed reverse takeover of Vox Capital, which owns a mobile marketing agency, Mobio Global.

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Genflow Biosciences PLC - London-based biotechnology company - In first six months of 2022, pretax loss widens to GBP773,794 from GBP374,062 in the same period a year prior. Administrative expenses rises to GBP696,402 from GBP372,291. Chair Yassine Bendiabdallah says: "The strategic collaborations combined with the deep expertise of Genflow's management team and the company's strong cash position, enables us to look to the future with confidence." Listed in London at start of 2022.

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Ross Group PLC - London-based supply chain management and distribution company - In six months to June 30, pretax loss widens to GBP686,000 from GBP85,000 the year prior. Does not generate revenue in either period. It says: "Whilst there has been no revenue during this particular period from any outside third party contracts, it is now the group's intention to significantly revert and re-implement resources that will enable the Group to grow its global supply chain services and produce a more substantial revenue stream in the future."

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RA International Group PLC - Africa and Middle East-focused construction and support services provider - In six months to June 30, pretax loss narrows significantly to USD3.4 million from USD33.0 million as revenue grows to USD29.2 million from USD28.4 million. Narrowed loss stems from non-repeat of USD31.0 million impairment from selling assets and inventory at Palma project in Mozambique.

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Pathfinder Minerals PLC - Mozambique-focused natural resources explorer - In six months to June 30, pretax loss narrows to GBP185,000 from GBP298,000 loss the year prior. Administrative expenses drops to GBP185,000 from GBP298,000. Does not generate revenue in either period. Chair Dennis Edmonds says: "We will work closely with Acumen Advisory over the remainder of the year on due diligence and their potential entering into binding definitive documentation. We also look forward to progressing other opportunities under review for our Pathfinder Battery Commodities subsidiary."

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Goldstone Resources Ltd - Jersey, UK-based gold development company with projects in West Africa - In six months to June 30, pretax loss widens to USD648,167 from USD548,628 a year prior. Operating loss narrows to USD287,370 from USD548,628 as it generates revenue of USD5.3 million. Does not generate revenue in prior-year period. Administrative expenses grows to USD2.4 million from USD548,628. Chief Executive Emma Priestley says: "It is with cautious optimism that I look forward to the remaining months of 2022 and into 2023, as we continue to make stead progress towards achieving our production goals."

Separately, extends maturity of the gold loan with Asia Investment Management Service to September 2023.

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Great Western Mining Corp PLC - Nevada-focused gold, silver and copper project developer - In six months to June 30, pretax loss broadly flat year on year at EUR448,652 versus EUR427,590 the year prior. Administrative expenses rises to EUR448,860 from EUR427,703. Does not generate revenue in either period. Chair Brian Hall "very pleased" with progress in period. "We set out our stall with an ambitious drilling programme, completed on time and on budget, with positive results received to date," he adds.

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Premier African Minerals Ltd - Africa-focused minerals and metals project developer - Sinks to pretax loss in six months to June 30 of USD4.9 million versus USD3.9 million profit the year prior. Does not generate revenue in either period. Administrative expenses rises to USD4.9 million from USD742,000. Notes, during period, it begins construction activities at Zulu.

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Caerus Mineral Resources PLC - copper miner in Cyprus - In six months to June 30, operating loss before tax widens to GBP1.4 million from GBP415,553 loss in the year prior. Administrative expenses rises to GBP724,268 from GBP414,543. Books GBP667,075 net impairment on licence disposal in period. Does not generate revenue in either period. Chief Executive Charlie Long says: "Notwithstanding the serious issues we discovered since arriving towards the end of the period, operationally the first half of 2022 has seen good progress at the main project Troulli, a brown field copper-gold deposit in the southeast of Cyprus."

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Landore Resources Ltd - BAM gold project at Junior Lake in Ontario, Canada - Operating loss before tax in six months to June 30 narrows to GBP794,385 from GBP2.4 million loss a year prior. Exploration costs sinks to GBP398,341 from GBP1.6 million, but administrative expenses grows to GBP818,316 from GBP794,818. Does not generate revenue in either period. Currently performing strategic review on its Canadian assets. Says: "Phase one of the Strategic Review will be completed at the end of Q3 2022, at which time the board will consider its corporate direction to the benefit of shareholders."

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By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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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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10 Apr 2024 19:30

IN BRIEF: Goldstone Resources publishes delayed accounts for 2022

Goldstone Resources Ltd - Ghana-focused gold producer and explorer - Publishes accounts for full-year 2022 and the first half of 2023 after a protracted delay. In 2022, pretax loss narrows to USD674,413 from USD1.5 million in 2021, while revenue rises to USD8.9 million from nothing. In the first half of 2023, pretax loss widens to USD3.7 million from USD648,167, while revenue falls to USD245,425 from USD5.3 million. Chief Executive Officer Emma Priestley says: "It is with cautious optimism that I look forward to 2024. 2023 was a difficult period of hard-won lessons, but these lessons will be valuable as we go into [the second half of] 2024."

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10 Apr 2024 15:22

Goldstone Resources raises GBP1.8 million in share subscription

(Alliance News) - Goldstone Resources Ltd on Wednesday said that it has raised GBP1.8 million before expenses via a subscription of 182.0 million new shares at 1 pence each.

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2 Apr 2024 19:02

TRADING UPDATES: Roadside shares suspended; Adnams looks for funds

(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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1 Mar 2024 18:29

TRADING UPDATES: Alpha Real Trust says in "robust" financial shape

(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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3 Jan 2024 11:39

Goldstone Resources granted loan payment standstill by Asian creditor

(Alliance News) - Goldstone Resource Ltd on Wednesday said it had arranged a standstill agreement with Asia Investment Management Services Ltd regarding the pair's 2020 gold loan agreement.

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16 Nov 2023 17:53

EARNINGS AND TRADING: Integrated Diagnostics returns to profit

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

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13 Nov 2023 21:58

TRADING UPDATES: 88 Energy signs farm-in deal with Monitor Exploration

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

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31 Oct 2023 16:47

TRADING UPDATES: GreenRoc bullish on asset; Esken eyes Renewables sale

(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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EARNINGS AND TRADING: Alternative Income REIT raises dividend

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

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TRADING UPDATES: AEW UK REIT appoints new chair; Oberon raises money

(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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TRADING UPDATES: Creo Medical sees growing demand for products

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

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31 May 2023 21:08

IN BRIEF: Goldstone Resources "on sound footing" going forward

Goldstone Resources Ltd - Ghana-focused gold producer and explorer - Updates on its mining and production activities at the Homase gold mine in south-western Ghana. Says front-end loaders, tractor and excavators have been delivered to the site with the aim of optimising production. Company invests around USD1.5 million into new and second-hand plant, equipment and components for the second dry plant. Mining production levels forecast for 60,000 tonnes per month of ore.

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5 Apr 2023 11:13

Goldstone shares rise on mineralisation extension at Akrokeri mine

(Alliance News) - Goldstone Resources Ltd on Wednesday said that results from diamond drilling at Akrokeri have affirmed its belief that mineralisation occupies a significant structural corridor, extending to both the south and north of the mine.

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27 Jan 2023 10:42

IN BRIEF: Goldstone issues GBP2.4 million convertible loan notes

IN BRIEF: Goldstone Resources Ltd - West Africa-focused gold development company - Issues GBP2.4 million of convertible loan notes to gold-mines operator Blue Gold International Ltd, which are due for redemption on November 30, 2024. The notes may be converted at any time prior to redemption into new Goldstone shares at a conversion price of 3.25 pence per share. BGL also receives warrants to subscribe for up to 60.0 million Goldstone shares at a price of 4.00p per share, at any time until January 26, 2025.

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