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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.

More News
16 Nov 2023 11:52

IN BRIEF: Great Western shares soar on surprise new copper finding

Great Western Mining Corp PLC - exploring gold, silver and copper targets in Nevada - Announces "material upgrade" in the Huntoon project's copper potential. Reports "clear evidence" in the Huntoon Valley area of a previously unidentified copper porphyry system. Says field evidence from across the area suggests a large sub-cropping magmatic-hydrothermal system, and that other nearby projects "continually" provide evidence for other such systems in the region. If the valley does contain this "major" new porphyry, the previously established resource at the M2 prospect would "only be a peripheral component" to it.

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14 Nov 2023 16:23

TRADING UPDATES: Technology Minerals, Beeks Financial hail deal wins

(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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27 Sep 2023 14:32

EARNINGS: Xeros expects breakeven next year, Zinc Media narrows loss

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

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12 Sep 2023 11:07

IN BRIEF: Great Western Mining celebrates Nevada mill progress

Great Western Mining Corp PLC - Dublin-based, US-focused mineral exploration and development company - Says final concrete pour on Sodaville mill site in Mineral County, Nevada was completed last weekend. Mill site is run by Western Milling LLC joint venture, which is owned in equal shares by Great Western and Muletown Enterprizes LLC. News of concrete pour follows multiple weather and supply-related delays. Company says mill site is now ready for installation of pre-prepared equipment. Says timing of production start-up for gold and silver concentrates will depend on if and when it gains approval from the state environmental authority, the Nevada Division of Environmental Protection.

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22 Aug 2023 13:27

Great Western flags possible delay to Mineral County mill

(Sharecast News) - Great Western Mining updated the market on progress with the construction of a mill designed for producing precious metals in Mineral County, Nevada on Tuesday.

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22 Aug 2023 09:20

Great Western Mining reports delay for planned metals mill in Nevada

(Alliance News) - Great Western Mining Corp PLC on Tuesday warned of a delays in the construction of its precious metals mill in Nevada, citing a dearth of local contractors as it aims to meet environmental requirements.

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26 Jul 2023 11:35

Great Western Mining raises GBP500,000 to fund Nevada joint venture

(Alliance News) - Great Western Mining Corp PLC on Wednesday said it raised GBP500,000 via a placing of new shares, intending to use the net proceeds towards its joint venture in Nevada.

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26 Jul 2023 10:12

AIM WINNERS & LOSERS: Actual Experience surges on Logicalis contract

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.

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10 Jul 2023 13:42

IN BRIEF: Great Western Mining planning follow-up mining at Olympic

Great Western Mining Corp PLC - Mineral exploration and development company with gold, silver and copper assets in the US - Says follow-up drilling is planned at the Olympic Gold projects in Nevada, after drilling numerous holes over the last two years. Adds the under-explored rhyolite dome at Olympic is a main focus of the planned exploration activity, and expects to collect 146 samples during the summer. Also notes positive results from soil sampling at its M5 and Rock Hose prospects.

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6 Jun 2023 16:59

Great Western Mining resumes groundwork at Western Milling project

(Alliance News) - Great Western Mining Corp PLC on Tuesday updated investors on its Western Milling gold and silver processing project.

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6 Jun 2023 15:47

UK shareholder meetings calendar - next 7 days

Wednesday 7 June 
City Pub Group PLCAGM
Gem Diamonds LtdAGM
Gulf Marine Services PLCAGM
Hostmore PLCAGM
LXi REIT PLCAGM
Pennant International Group PLCAGM
Third Point Investors LtdAGM
United Oil & Gas PLCAGM
Xpediator PLCGM re takeover by DLM Bidco
Thursday 8 June 
Ashtead Technology Holdings PLCAGM
Camellia PLCAGM
Checkit PLCAGM
Churchill China PLCAGM
CRH PLCCourt Meeting and EGM re proposal to transfer the company's primary listing to NYSE
Downing Renewables & Infrastructure Trust PLCAGM
Fair Oaks Income LtdAGM
Fusion Antibodies PLCGM re result of retail offer
Genflow Biosciences PLCAGM
Glenveagh Properties PLCAGM
Kavango Resources PLCAGM
Kosmos Energy LtdAGM
Melrose Industries PLCAGM
North American Income Trust PLCAGM
Oriole Resources PLCAGM
Panther Metals PLCAGM
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Renalytix PLCGM re director's authorization to allot new shares and equity securities for cash
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Devolver Digital IncAGM
Fulham Shore PLCGM and court meeting re takeover by Torridoll Holdings Corp
Hochschild Mining PLCAGM
Mirada PLCGM re cancellation and re-registration as PLC
MP Evans Group PLCAGM
S4 Capital PLCAGM
Sureserve Group PLCCourt Meeting and GM re acquisition by CAP10 
Monday 12 June 
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Learning Technologies Group PLCAGM
Oxford Nanopore Technologies PLCAGM
Pembridge Resources PLCGM and Creditors' Meeting re future plans and objectives
Round Hill Music Royalty Fund LtdAGM
Staffline Group PLCAGM
VPC Specialty Lending Investments PLCGM re investment policy
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Asiamet Resources LtdAGM
Centrica PLCAGM
Dillistone Group PLCAGM
EJF Investments LtdAGM
Elixirr International PLCAGM
Flowtech Fluidpower PLCAGM
Frenkel Topping Group PLCAGM
Great Western Mining Corp PLCAGM
Newbury Racecourse PLCAGM
Plant Health Care PLCAGM
Pressure Technologies PLCGM re delay to the publication of the FY22 Annual Report and directors' remuneration
Sound Energy PLCAGM
Zinnwald Lithium PLCAGM
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
18 May 2023 13:27

EARNINGS UPDATES: Nexus Infrastructure swings to annual profit

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

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30 Mar 2023 20:31

TRADING UPDATE: Aquis Exchange profit jumps, TomCo obtains funding

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

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30 Mar 2023 16:28

Great Western Mining reports progress in Nevada

(Sharecast News) - Great Western Mining updated the market on its gold, silver, and copper exploration and development efforts in Nevada on Thursday, as it prepared for the start of drilling operations and the 2023 exploration programme in Mineral County.

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7 Feb 2023 10:50

Great Western Mining makes progress in Nevada; Olympic still priority

(Alliance News) - Great Western Mining Corp PLC on Tuesday said it was pleased by progress across its assets in Nevada, following several regulatory and exploration updates.

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