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Pin to quick picksRockfire Share News (ROCK)

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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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Rockfire Resources completes two geotechnical holes at Molaoi deposit

(Alliance News) - Rockfire Resources PLC on Monday said it completed two further geotechnical holes at the Molaoi zinc deposit in Greece.

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Rockfire Resources Molaoi assays show high grade zinc intersections

(Alliance News) - Rockfire Resources PLC on Monday said it has identified multiple high quality zinc intersections at its Molaoi deposit in Greece.

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28 Nov 2022 14:07

Rockfire rises on recent sampling in Greece

(Sharecast News) - Base metal and critical mineral exploration company Rockfire Resources has received high-grade results from rock samples taken from historic waste dumps and surface outcrops at its wholly-owned Molaoi zinc-silver-lead-germanium deposit in Greece, it announced on Monday.

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28 Nov 2022 11:50

Rockfire Resources jumps on high-grade results from Molaoi deposit

(Alliance News) - Rockfire Resources PLC on Monday said it received high-grade results from rock samples taken from historic waste dumps and surface at its wholly owned Molaoi zinc, silver, lead, germanium deposit in Greece.

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21 Nov 2022 14:05

Rockfire Resources delights at Molaoi deposit drilling debut

(Alliance News) - Rockfire Resources PLC on Monday said drilling has begun at Molaoi, its fully owned zinc, silver, lead and germanium deposit in Greece.

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2 Nov 2022 16:59

IN BRIEF: Rockfire Resources sees good progress at Molaoi deposit

Rockfire Resources PLC - London-based gold and base metal exploration company - Reports "good progress" is being made "on multiple fronts" at its 100%-owned Molaoi zinc deposit in Greece. Explains that the concrete entrance to the old underground portal and decline has now been exposed. Says mapping has located numerous old workings along the strike of zinc mineralisation. Adds that rock sampling remains in progress.

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17 Oct 2022 12:50

Rockfire Resources plunges after selling new shares at 50% discount

(Alliance News) - Rockfire Resources PLC shares plunged on Monday after it said it has raised GBP375,000 from a subscription of 300.0 million new shares at a big discount.

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28 Sep 2022 13:26

EARNINGS UPDATES: DP Poland loss widens but positive for second half

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

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25 Aug 2022 13:03

Rockfire reports 'excellent' recoveries at Molaoi

(Sharecast News) - Rockfire Resources reported "excellent" recoveries of zinc and lead from preliminary metallurgical tests on its wholly-owned Molaoi zinc deposit in Greece.

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25 Aug 2022 12:34

IN BRIEF: Rockfire Resources hails test results at Molaoi zinc deposit

Rockfire Resources PLC - London-based gold and base metal exploration company - Says metallurgical tests from its Molaoi zinc deposit in Greece return excellent recoveries of zinc. Says the recovery of zinc is 89% with a product grade of 57% zinc concentrate. Assumes that the figure will increase with more detailed tests. The ongoing test work is being supervised by Perth-based metallurgical consultant BHM Process Consultants Pty Ltd.

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17 Aug 2022 14:41

Exploration underway at Rockfire's zinc deposit in Greece

(Sharecast News) - Gold, base metals and minerals explorer Rockfire Resources said on Wednesday that exploration was underway at its wholly-owned Molaoi zinc deposit in Greece, operated under its 100%-owned subsidiary Hellenic Minerals.

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17 Aug 2022 11:43

IN BRIEF: Rockfire starts exploration work at Maolai zinc deposit

Rockfire Resources PLC - London-based gold and base metal exploration company - Begins exploration at its wholly-owned Molaoi zinc deposit in Greece. Geological mapping and rock sampling are underway throughout the license. A technical programme and environmental report have been submitted to the Greek government; these will need to be approved before drilling can progress. Its planned diamond drilling targets expansion of the maiden JORC resource of 2.3 million tonnes at 11% zinc equivalent, for around 250,000 tonnes of zinc equivalent, as previously announced in May. Selects preferred drilling contractor after soliciting three quotes, with drilling of 40 initial holes and 60 subsequent ones expected to take 12 months in total. Also begins metallurgical test work via BHM Processing in Perth, Australia, with "encouraging" initial results.

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