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Pin to quick picksGoldstone Resources Share News (GRL)

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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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GoldStone submits definitive economic plan for Akrokeri-Homase project

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Goldstone Resources Starts Definitive Economic Plan For Ghana Project

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GoldStone makes progress at Akrokeri-Homase Project

(Sharecast News) - GoldStone Resources updated the market on activities at its Akrokeri-Homase Gold Project in the Ashanti Region of Ghana on Friday, reporting that progress was being made within the area of Akrokeri that hosted the numerous artisanal shafts and pits, where it was making safe the shallow workings, and those that had been accessed were being mapped.

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Goldstone Resources Loss Widens On Akrokeri-Homase Project Development

LONDON (Alliance News) - Goldstone Resources Ltd on Friday said its loss widened in the first half of 2018 due to administrative expenses associated with its Ghanaian Akrokeri-Homase gold expenses

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27 Sep 2018 15:02

Goldstone Completes Shaft At Ghana Mine, Gains Access To Old Workings

LONDON (Alliance News) - Goldstone Resources Ltd on Thursday said it has completed the Norton Shaft at its Akrokeri Mine in Ghana.The shaft was drilled to its target depth of 33 metres and

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2 Aug 2018 12:48

GoldStone Resources Discovers Visible Gold In Southern Ghana

LONDON (Alliance News) - West Africa-focused gold developer GoldStone Resources Ltd said Thursday it has discovered visible gold as a result of its drilling in the Ashanti region of southern gold

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9 Jul 2018 11:33

GoldStone Says Ghana Supports Redevelopment Of Gold Mines

LONDON (Alliance News) - GoldStone Resources Ltd on Monday noted that Johannesburg-listed AngloGold Ashanti Ltd secured environmental permits for its Obuasi gold mine in Ghana.The company

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Goldstone Resources finds nine gold targets following drill programme

(ShareCast News) - Goldstone Resources has identified nine targets following an auger drilling programme at its gold mines in Ghana. The AIM-listed miner performed a short shallow auger drilling programme to test areas near an existing JORC Code compliant resource for the Homase-Akrokerri license by

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13 Dec 2016 10:05

Red Rock Sells 1.4 Million Goldstone Resources Shares (ALLISS)

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Red Rock Shares Rise As Income Begins To Flow From Investments

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GoldStone Resources Says First Drilling Programme At Homase Completed

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Stratex International's shares slip after Homase/Akrokerri update

(ShareCast News) - Shares in Stratex International were down more than 2% late on Friday following an update on the Homase/Akrokerri project in Ghana by Goldstone Resources Ltd. Stratex holds a 33.45% stake in Goldstone. The update said reverse-circulation drilling of a 750 metre-long gold-enriched

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11 Nov 2016 07:58

Goldstone Resources' Ghana mine finds gold enrichment in saprolite

(ShareCast News) - AIM-listed Goldstone Resource's recent drilling program at its mine in Ghana found gold enrichment in saprolite. The AIM-listed miner's recent drilling programme comprised 3,000 metres of auger and some 1,500 metres of reverse circulation drilling of the AK02 prospect within the A

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13 Oct 2016 11:05

Goldstone Resources shares fall as employment dispute reported

(ShareCast News) - Shares in AIM-listed miner Goldstone Resources dropped nearly 12% on Thursday morning after it was revealed that a former director made a large cash claim against the company over his termination. The sum sought would be a "significant proportion" of the company's current cash res

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19 Sep 2016 11:23

GoldStone Resources narrows loss as Ghana development continues

(ShareCast News) - Africa-focused gold company GoldStone Resources posted its interim results for the six months to 30 June on Monday, again reporting nil revenue as it continued its exploration activities, but significantly reducing its operational costs and narrowing its loss. The AIM-traded firm

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