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EARNINGS AND TRADING: Fiske swings to profit, Aterian starts Rwanda JV

Tue, 24th Oct 2023 17:27

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

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Triple Point Venture VCT PLC - London-based investor in early-stage small and medium-sized enterprises - Net asset value per share falls to 99.61 pence at August 31, from 102.17p at February 28. Portfolio has continued to grow to GBP7.2 million during the half year ended August 31, with five new qualifying investments and eight follow-on investments. Company also says subscription offer, which closed in late July, has raised GBP15.0 million and resulted in issuance of 14.2 million new shares. Says the current "mediocre macro environment" is likely to continue for now, but so should demand for its portfolio companies' solutions, leaving its existing portfolio well-positioned for future growth.

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Fiske PLC - London-based stockbroker and investor - Revenue for year ended June 30 increased 2.0% to GBP5.9 million from GBP5.8 million the year before, largely due a resurgence in interest income towards the end of the year. Company also swings to GBP315,000 profit from a GBP349,000 loss. Operating expenses totalled GBP5.8 million, down 8.3% from GBP6.3 million. Fiske says it will continue investing in automation technologies, and has conducted a comprehensive review of its fee structure in light of rising costs. Says it has "begun to see the benefits of these new rates in the first few months of the new financial year."

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Thruvision Group PLC - Abingdon, England-based people-screening technology provider - Placed on Monday 13.4 million shares at 23.5 pence each. On Tuesday says placing successfully raised desired GBP3.2 million, including a strategic investment by Pentland Capital Ltd of Pentland Group. Pentland subscribed for at least GBP2.5 million with a view to acquiring a minimum 10% shareholding in Thruvision over time. When issued, placing shares will represent around 9.2% of Thruvision's issued share capital. Company says proceeds will be used for continued investment in its sales and marketing capabilities, and delivering key new software functionality.

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Panther Metals PLC - Hertfordshire, England-based investor in mining companies - Notes start of pre-drilling activities by Fulcrum Metals, in which it has a 20% stake, at the Tully gold project in Ontario, Canada.

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Gunsynd PLC - London-based investor in companies and projects within the natural resources, life sciences and beverage sectors - Notes announcement by investee Omega Oil & Gas Ltd on its Basin-Centered Gas drilling campaign. Omega claims estimated maiden gross 2C contingent resources of 1.73 trillion cubic feet and 3C resources of 4.5 TCF across its holdings in Taroom Trough in Queensland. Net 2C resources comprise 1.51 TCF gas and 68.6 million barrels of condensate. Omega says reservoirs have strong growth potential, with further assessment to be considered on other hydrocarbon-bearing reservoirs within the "highly prospective" Kianga formation and the Back Creek group. Omega also completed a USD21 million capital raising in early August which fully funds the next stage of exploration and appraisal."

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Oneiro Energy PLC - London-based special purpose acquisition company focused on energy transition, primarily away from oil - Operating loss for half year ended July 31 widened to GBP277,680 compared to GBP135,803 the year before. Pretax loss widened to GBP273,255 from GBP126,953. Cash balance at July 31 was GBP969,924, up from GBP113,522 at the same time in 2022. Administrative expenses more than doubled to GBP277,680. Company says it is pleased with the quality of the opportunities it has so far reviewed and is in the process of compiling a shortlist to attract current and future shareholders.

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Aterian PLC - London-based, Africa-focused miner - Says it has met conditions from Rio Tinto Mining and Exploration Ltd to initiate a lithium-focused earn-in investment and joint venture agreement in the Republic of Rwanda. Rio Tinto has confirmed that the JV is now in effect. Local subsidiary Kinunga Mining Ltd, in which Aterian holds a 70% interest, has been "actively working" on prerequisites supporting preparatory work necessary to launch the exploration programme. Kinunga holds the licence for a 2,750-hectare exploration licence in southern Rwanda. Rio Tinto has the option to invest USD7.5 million in two stages to earn up to a 75% interest in the licence, and to add Aterian's two other Rwandan projects pending licence approvals.

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By Emma Curzon, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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IN BRIEF: Panther Metals starts diamond drilling at Manitou Lakes

Panther Metals PLC - Canada-focused mineral exploration company - Starts diamond drilling programme at Manitou Lakes project to target gold mineralisation at the Glass Reef target. Says option partner Shear Gold Exploration Corp is providing geological oversight and logistical management. Chief Executive Officer Darren Hazelwood says: "I am delighted to report that the inaugural drilling programme on the Manitou Lakes project has now commenced with the drill rig arriving at the roadhead and the drilling contractor commencing ground access and preparation work at the Glass Reef target."

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IN BRIEF: Panther Metals says metallurgical tests complete at Coglia

Panther Metals PLC - Canada-focused mineral exploration company - Says Australian arm Panther Metals Ltd has received all assays from the recent drilling programme on the periphery of a nickel-cobalt mineral resource estimate at the Coglia project in Western Australia. Panther Australia has also completed Stage 1 metallurgical test work which identified sulphuric acid as the optimal reagent for a heap leaching operation. Stage 2 work has now commenced. Panther Australia, in which Panther Metals has a 23.54% shareholding, will in due course initiate a scoping study to provide an economic valuation of Coglia.

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IN BRIEF: Panther Metals Chief Operating Officer resigns

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