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CORRECT: Mobile Streams loss narrows to GBP289,000

Mon, 25th Mar 2024 20:43

(Correcting that Mobile Streams narrowed its loss.)

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

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Mobile Streams PLC - London-based mobile content provider - Revenue for the six months to December 31 falls to GBP169,000 from GBP1.1 million the prior year. Company narrows pretax loss to GBP289,000 from a GBP1.2 million loss. Says revenue reduction was in line with expectations, following the completion with its partnership with International Gaming Systems on June 30. Company noted in its annual report in late December that its strategic partnership with IGS, announced in January 2022, drove a significant part of revenue growth in the year to June 30. Says it is now "well positioned as a business", with "a strong suite of proprietary technology platforms and investments", and remains on track to reach operational profitability this year on a monthly basis.

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Golden Prospect Precious Metals Ltd - closed-end investor focused on gold and precious metals companies - Pretax loss narrows for 2023 to GBP1.4 million from GBP12.7 million. Net loss narrows to GBP468,090 from GBP11.7 million, as net capital losses on investments held at fair value narrow to GBP580,095 from GBP11.8 million. Investment manager says 2023 "was a particularly volatile [year] for precious metals", mainly due to "continued central bank buying" and "deteriorating geopolitics". Adds however that if interest rate cuts proceed as expected, "this should provide a supportive tailwind for precious metals".

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Central Asia Metals PLC - copper, zinc and lead explorer operating in Kazakhstan and North Macedonia - Declares a final dividend of 9 pence per share for 2023, down from 10p the prior year. This brings the full-year dividend to 18p, down from 20p the prior year. Earnings before interest, tax, depreciation, and amortisation fall to USD96.5 million from USD131.6 million, with the margin narrowing to 47% from 57%. Net revenue falls to USD195.3 million from USD220.9 million. Copper production falls to 13,816 tonnes from 14,254 tonnes, zinc in concentrate production falls to 20,338 from 21,473 tonnes, and lead in concentrate production falls to 27,794 from 27,354 tonnes. Company expects 2024 copper production between 13,000 and 14,000 tonnes, with zinc in concentrate between 19,000 and 21,000 tonnes, and lead in concentrate between 27,000 and 29,000 tonnes. Chief Executive Officer Nigel Robinson says company delivered "a solid performance" and "met our production guidance...despite a challenging economic environment with metal prices deteriorating".

Company also announces a conditional investment of GBP3 million in Aberdeen Minerals Ltd, in exchange for a 28.7% shareholding in the nickel, copper and cobalt exploration company which is currently targeting the Arthrath Project and nearby areas in Aberdeenshire, northeast Scotland, and has already reported scalable mineralisation there. Company says its investment will fund various drilling and other testing at Arthrath. Its investment comprises a subscription for 35.3 million shares at 8.5p each. It also will receive warrants to invest a further GBP2 million at 11p each, which would increase its interest to 37.8%.

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Botswana Diamonds PLC - Botswana and South Africa-focused diamond explorer - Reports revenue of GBP24,000 for the half year to December 31, having generated no revenue the prior year. Pretax loss for the period narrows to GBP251,000 from GBP330,000. Company also reports operational progress despite the "turbulent times", including positive progress on mining permits at Thorny River and the granting of a prospecting licence over properties in Eswatini. Chair John Teeling says: "While the diamond market was depressed throughout 2023, it is important to recognise that it is the long term trend which is important for the diamond industry, and particularly for explorers. Meanwhile 2024 has started in more positive fashion with diamond sales taking place and a semblance of stability after a difficult last year." Adds that "the long-term outlook for diamonds remains strong".

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By Emma Curzon, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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