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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.

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9 Sep 2019 14:00

Bulk Sample From Bluejay Mining's Dundas Project Sets Sail For Canada

(Alliance News) - Bluejay Mining PLC on Monday said a 42,000 tonne bulk sample from its Dundas ilmenite project had departed Greenland, destined for Canada.The bulk sampling material is to

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13 Aug 2019 12:08

Bluejay Mining Promotes Stensgaard To Board As Executive Director

(Alliance News) - Bluejay Mining PLC said Tuesday it promoted Bo Moller Stensgaard as executive director of the Greenland and Finland-focused mining firm with immediate effect.Stensgaard in

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12 Aug 2019 10:37

Bluejay Mining To Ship Material From Greenland After Permit Grant

(Alliance News) - Bluejay Mining PLC has received an export licence from authorities in Greenland, it said on Monday, for bulk sample material.Shares were 12% higher in London on Monday at

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2 Jul 2019 11:34

Bluejay Mining Targeting Big Discovery As It Prepares Greenland Work

(Alliance News) - Bluejay Mining PLC has lined up 20 "large-scale" drill-ready targets at the Disko-Nuussuaq nickel-copper-platinum project in west Greenland, it said Tuesday.The

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27 Jun 2019 12:43

Bluejay Mining Confident Of Further Improvement In Dundas Economics

(Alliance News) - Bluejay Mining PLC has now proven the economic viability of the Dundas ilmenite project in Greenland, the miner said on Thursday, and there is upside potential.Bluejay has

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18 Jun 2019 14:41

Bluejay Mining Outlines 2019 Work Scheme For Flagship Dundas Project

(Alliance News) - Bluejay Mining PLC announced Tuesday its work programme for 2019 at its flagship Dundas Ilmenite Project in Greenland.Bluejay - which wholly owns Dundas which is estimated

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6 Jun 2019 11:47

Bluejay Mining Submits Pre-Feasibility Study For Dundas Project

LONDON (Alliance News) - Bluejay Mining PLC said Thursday it has submitted its pre-feasibility study for its Dundas ilmenite project in Greenland.The study was presented to the Mineral and

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3 Jun 2019 17:25

Bluejay Mining 2018 Loss Widened Significantly; Excited For 2019

LONDON (Alliance News) - Bluejay Mining PLC on Monday reported a significantly widened loss in 2018 but expects the next couple of years to be "transformational".In 2018, the a of

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29 May 2019 11:52

Bluejay Mining Dundas Work Leads To 15% Increase In Resource

LONDON (Alliance News) - Bluejay Mining PLC on Wednesday announced a 15% increase in the total resource at the Dundas ilmenite project in Greenland.The new resource at Dundas is 117 million

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29 May 2019 10:28

Bluejay Mining announces 'significant' resource increase

(Sharecast News) - Bluejay Mining announced a "significant" resource increase, including a maiden exploration target for the offshore region within its licence area at Dundas Ilmenite Project, in an update to the market on Wednesday.

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28 May 2019 11:12

Bluejay Mining Signs Ilmenite Assessment Agreement With Rio Tinto Unit

LONDON (Alliance News) - Bluejay Mining PLC said Tuesday it has signed an agreement with Rio Tinto Iron & Titanium Canada Inc, for the analysis of Ilmenite from its Dundas project in Tinto is

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30 Apr 2019 17:55

UPDATE: Bluejay Mining Files Environmental Assessment Of Dundas

LONDON (Alliance News) - Bluejay Mining PLC on Tuesday said it has submitted a environmental impact assessment for its Dundas ilmenite project to Greenland's Ministry of Nature & was by AS

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2 Apr 2019 12:51

Bluejay Mining Expects Greenland Resource Data Within Next Two Months

LONDON (Alliance News) - Bluejay Mining PLC said Tuesday it expects the results of resource calculations for three expansion areas in Greenland to be completed within the next couple of explained

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27 Feb 2019 10:12

Bluejay Mining Accidentally Releases Discussions With Rio Tinto

LONDON (Alliance News) - Shares in Bluejay Mining PLC fell Wednesday as it said it accidentally released information regarding talks with a Rio Tinto PLC subsidiary.Shares were down 7.2% at

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29 Jan 2019 18:03

Jeremy Whybrow Divests Stake In Bluejay Mining, Holds 4.5% (ALLISS)

LONDON (Alliance News) - Bluejay Mining PLC on Tuesday said that Jeremy Whybrow lowered its stake in the company to 4.53%.Whybrow, prior to Friday's deal, held a 11.07% stake in the up

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