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George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’
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Pin to quick picksBluejay Share News (JAY)

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EARNINGS: Rockfire interim loss widens due to increased expenses

Fri, 29th Sep 2023 12:21

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

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Galileo Resources PLC - mining company focused on Zambia, Zimbabwe, Botswana, South Africa and the US - Pretax profit increases 14% to GBP1.6 million in its financial year ended March 31, from GBP1.4 million the year prior. Says operating expenses rise to GBP1.3 million, from GBP753,321. Chair Colin Bird says: "I look forward to the coming year, realising one of our projects, any one of which could be transformational for the company and its shareholder."

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Rockfire Resources PLC - Australia and Greece-focused base metal, gold, and critical mineral exploration company - Pretax loss widens to GBP411,145 in the first half of 2023, from GBP302,582 the year prior. Says loss is due to expenses from subsidiary Hellenic Minerals SA. Says interest income was GBP1.00, up from no income. Adds that it is targeting the acquisition of Emirates Gold DMCC and Emperesse Bullion LLC. Says these acquisitions will be "potentially transformational".

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Essentially Group PLC - UAE-based health food company - Posts a 14% revenue increase to GBP593,164 in the first half of 2023, from GBP519,311 the year prior. Says pretax loss widens to GBP400,175, from GBP176,808 a year ago. Adds that retail footprint grew 53% during the first half, with benefit of expansion to "materialise in the coming months". Notes that it listed on Aquis in March.

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Woodbois Ltd - Africa-focused forestry, timber trading and afforestation company - Says revenue decreased 57% to USD4.9 million in the first half of 2023, from USD11.3 million a year ago. Adds that pretax loss was USD3.4 million, widening from USD489,000 the year before. Notes unseasonal weather in the first quarter affected operations, as did a military coup in Gabon in the third quarter. Says it is "optimistic" that the fourth quarter onwards will see an upturn in activity, and aims to deliver positive earnings before interest, tax, depreciation and amortisation and profitability in 2024. Chief Executive David Rothschild says: "2023 has been a very difficult year for the company thus far, but having weathered some pretty severe challenges and having re-built the company's balance sheet, we now are rebuilding production, performance and profitability across the company's divisions."

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Bluejay Mining PLC - Greenland and Finland-focused miner - Says it swung to pretax loss of GBP659,135 in the first half of 2023, from profit of GBP524,724 a year ago. Adds that cost of sales rose to GBP32,033, from nothing a year ago. Notes that it raised GBP600,000 after the period's end, which it says will set it up for a "transformational 2024" by enabling it to develop it projects. Says it will continue to explore and develop its projects, and is aiming to increase their value. Adds that it is still "extremely well positioned" to deliver on its strategy. Does not declare a dividend for the first half, unchanged from a year ago.

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By Harvey Dorset, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

More News
19 Apr 2024 11:54

Bluejay to explore "compelling" opportunities beyond battery metals

(Alliance News) - Bluejay Mining PLC on Friday announced the expansion of its corporate strategy.

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19 Apr 2024 09:16

Bluejay to broaden into helium and industrial gases

(Sharecast News) - Bluejay Mining announced a strategic decision to broaden its corporate scope, expanding into the exploration and development of helium, industrial gases, and hydrocarbons, on Friday.

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16 Apr 2024 20:16

TRADING UPDATES: Nexteq confident of meeting full-year expectations

(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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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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12 Feb 2024 17:32

Bluejay Mining cuts 80% of workforce in cost saving drive

(Alliance News) - Bluejay Mining PLC on Monday updated shareholders on cost reduction initiatives, underlining its "commitment to financial resilience and operational efficiency."

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9 Feb 2024 14:29

IN BRIEF: Bluejay Mining fires Exploration VP for gross misconduct

Bluejay Mining PLC - London-based base metals and gold explorer and developer with projects in Greenland and Finland - Terminates employment of Joshua Hughes, vice president of its Exploration division, due to gross misconduct. Following an investigation, Bluejay Mining found that Hughes had set up a competing business intended to operate in Greenland and, in breach of his employment contract, found that he had misused company confidential and proprietary information in securing exploration licences surrounding the Dundas Titanium project. He also sought to conceal certain of these actions from Bluejay.

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17 Jan 2024 14:14

IN BRIEF: Bluejay Mining completes raise with directors' help

Bluejay Mining PLC - London-based base metals and gold exploration and development company with projects in Greenland and Finland - Raises GBP1.2 million through a placing of 400 million shares at 0.4p. New members of Bluejay's board of directors contributed GBP150,000 to this fundraising effort, which the company on Tuesday said would go towards financing field activities, travel, legal and administrative costs, as well as providing general working capital. The company says the funds will allow it to "restore faith and focus on the company's assets and reinvigorate momentum on its portfolio of high quality projects".

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16 Jan 2024 18:41

UPDATE: Bluejay Mining completes GBP1.2 million placing

Bluejay Mining PLC - base metals and gold exploration and development in Greenland and Finland - Raises GBP1.2 million via placing of 300 million shares at 0.4p. Earlier, the firm said it intended to raise GBP1.1 million via placing of 280 million shares. Proceeds will fund field activities and travel, legal and administrative costs, project divestment activities, regulatory and licensing costs and for general corporate and working capital purposes. The placing was conducted via an accelerated bookbuild process.

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16 Jan 2024 18:08

Bluejay Mining looks to raise GBP1.1 million via placing

Bluejay Mining PLC - base metals and gold exploration and development in Greenland and Finland - Proposes to raise GBP1.1 million via placing of 280 million shares at 0.4 pence each. The placing is to take place in two separate tranches, with the initial around 150 million shares being issued and any further shares only issued following the passing of the resolutions at the general meeting. Proceeds will fund field activities and travel, legal and administrative costs, project divestment activities, regulatory and licensing costs and for general corporate and working capital purposes. The placing to be conducted via an accelerated bookbuild process.

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27 Dec 2023 12:57

DIRECTOR DEALINGS: Two Rio Tinto execs sell GBP7.8 million in shares

(Alliance News) - The following is a round-up of share dealings by London-listed company directors and managers announced in the past week and not separately reported by Alliance News:

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22 Dec 2023 14:46

Director dealings: Bluejay Mining's Roderick McIllree raises stake

(Sharecast News) - Bluejay Mining revealed on Friday that non-executive director Roderick McIllree had acquired 10.0m ordinary shares in the AIM-listed exploration and production company.

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21 Dec 2023 13:18

UPDATE: Bluejay Mining picks new chair amid board shuffle

Bluejay Mining PLC - Greenland and Finland-focused miner - Appoints Mike Hutchinson as non-executive chair, replacing Robert Edwards, who has been executive chair since October 2022. Bluejay also names Eric Sondergaard as managing director, having previously been chief operating officer. Adds Troy Whittaker, Roderick McIllree and Harry Ansell to the board as non-executive directors, while Edwards, Peter Waugh and Bo Stensgaard leave the board immediately, though with Stensgaard remaining as a company employee. Bluejay corrects its announcement on Wednesday, clarifying that Whittaker is a non-executive director only, not COO. "In due course, the new board will update shareholders regarding the implementation of a new strategy that will focus solely around developing the Disko magmatic massive sulphide project in Greenland," Hutchinson says.

Read more
20 Dec 2023 11:44

IN BRIEF: Bluejay Mining picks new chief operating officer and chair

Bluejay Mining PLC - Greenland and Finland-focused miner - Appoints Troy Whittaker as board director and chief operating officer. Bluejay also installs Mike Hutchinson as non-executive chair, replacing Robert Edwards, who has been executive chair since October 2022. Edwards, Peter Waugh and Bo Stensgaard leave the board immediately, though with Stensgaard remaining as a company employee. Roderick McIllree and Harry Ansell join as non-executive directors. "In due course, the new board will update shareholders regarding the implementation of a new strategy that will focus solely around developing the Disko magmatic massive sulphide project in Greenland," Hutchinson says.

Read more
2 Oct 2023 14:32

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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