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Pin to quick picksSavannah Resources Share News (SAV)

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UK EARNINGS SUMMARY: Gama Aviation Interim Loss Widens As Revenue Down

Wed, 30th Sep 2020 21:13

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

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Gama Aviation PLC - Farnborough, Surrey-based aviation service provider - For the first half of 2020, pretax loss widens to USD4.2 million from USD2.0 million the year before, as revenue declines to USD109.2 million from USD121.8 million, as a result of the pandemic's effect on the aviation sector. Looking ahead, third quarter trading to September was stable, in line with management expectations.

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Sensyne Health PLC - clinical artificial intelligence technology company with headquarters in Oxford - For the year to the end of April, pretax loss widened to GBP22.6 million from GBP19.0 million, despite revenue rising sharply to GBP2.1 million from GBP136,000, through pharmaceutical R&D contracts.

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Block Energy PLC - exploration and production in Georgia - For the first half of 2020, pretax loss has remained flat at USD2.7 million, on generation of revenue to USD313,000 through sales of crude oil from its West Rustavi, Norio and Satskhenisi licences. Looking ahead, expects gas sales to start in fourth quarter of 2020 from West Rustavi.

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W Resources PLC - a tungsten, tin and gold mining and exploration company - For the first half of 2020, pretax loss widens to EUR1.7 million from EUR1.0 million on rising operating costs, in spite of revenue nearly rising fivefold to EUR1.0 million from EUR293,000. La Parrilla production comes up to 106.5 tonnes of tungsten concentrate and 64.5 tonnes of tin concentrate.

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M&C Saatchi PLC - London-based advertising firm - For 2019, pretax loss widens to GBP8.6 million from GBP6.3 million, on revenue that grew by 2.4% to GBP256.4 million from GBP250.3 million, on strong growth in the UK and Middle East & Africa more than offsetting a decline in Europe and flat performance in Asia & Australia.

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Tower Resources PLC - Africa-focused oil & gas company - For the first half of 2020, pretax loss narrowed to USD457,687 from USD1.6 million year before on sharply lower costs, despite no revenue being generated. During period, has extended initial period of the exploration phase of the Thali PSC, offshore Cameroon by one year.

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Prairie Mining Ltd - Poland-focused coal development firm - For the year to the end of June, pretax loss narrows to USD3.3 million from USD3.6 million on fall in exploration and evaluation expenses, on revenue that dropped to USD456,726 from USD557,330.

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daVictus PLC - Asia-focused food & beverage sector investor - For the first half of 2020, pretax loss narrowed to GBP116,576 from GBP127,453 the year before, on the generation of GBP3,333 in revenue from a franchisee in Kuala Lumpur, Malaysia.

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Vertu Capital Ltd - acquisition vehicle - For the first half of 2020, pretax loss narrowed to GBP52,536 from GBP65,520 the year before. During period, could not explore any acquisition opportunities due to adverse economic conditions.

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Xtract Resources PLC - miner with projects in Mozambique and Zambia - For the first half of 2020, pretax loss narrows to GBP187,000 from GBP320,000 the year before on lower administrative costs, as revenue from gold sales decline to GBP613,000 from GBP807,000. Total alluvial mining contractor gold production came dropped to 1,033 ounces from 2,138 ounces the prior year.

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European Metals Holdings Ltd - Australian mineral exploration & development company - For the year to the end of June, pretax loss widens to AUD4.6 million from AUD3.0 million the year before on higher costs, despite revenue rising to AUD183,835 from AUD1,461.

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MobilityOne Ltd - e-commerce infrastructure payment solutions and platform provider - For 2019, pretax profit rose sharply to GBP1.1 million from GBP67,491 the ear before, on revenue that grew to GBP169.4 million from GBP125.5 million.

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Secure Property Development & Investment PLC - County Durham, England-based eastern Europe focused property investor - As at December 31, net asset value per share falls by 18% to EUR0.23 from EUR0.28 in 2018. For 2019 as a whole, pretax loss widens to EUR2.3 million from EUR1.7 million the year before, on net operating income that dropped to EUR457.5 million from EUR651.1 million.

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Bezant Resources PLC - copper-gold explorer - For 2019, pretax loss widens to GBP1.1 million from GBP846,000, following a higher impairment charge relating to the Mankayan Copper-Gold project in the Philippines.

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Savannah Resources PLC - energy metals - For first half of 2020, pretax profit swings to USD1.2 million from loss of USD3.0 million, on the generation of USD91.7 million in revenue from gas and liquids sales from Nigerian assets.

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Orient Telecoms PLC - telecommunication services provider - For the year to the end of March, pretax loss narrows to GBP13,915 from GBP212,980 the year before, on revenue that nearly tripled to GBP600,596 from GBP218,822 on high demand for cloud-based services.

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Thor Mining PLC - vanadium and gold miner in US and Australia - For the year to the end of March, pretax loss widens to GBP922,000 from GBP735,000 the year before as expenses rise.

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By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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26 May 2023 11:48

IN BRIEF: Savannah Resources notes sales of Petronas's assets

Savannah Resources PLC - London-based energy company, with projects in Cameroon, Chad, Niger and Nigeria - Gets notice from Petronas Overseas Ventures of sale of its assets to Societe des Hydrocarbures. This comes after a share purchase agreement for a wholly owned affiliate of Savannah to purchase Petronas's asset portfolio in Chad and Cameroon was terminated in December. Petronas owned 30% of Cameroon Oil Transportation Company SA, while Savannah currently holds a 41% interest in COTCO.

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21 Apr 2023 14:45

IN BRIEF: Savannah Resources strategy chief buys 1.6 million shares

Savannah Resources PLC - European lithium development company - Chief Strategy Officer Sascha Keen buys 1.6 million shares at an average price of 3.66 pence each. The shares were bought in three separate transactions on Monday, Tuesday, and Wednesday, worth GBP59,360, in London.

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20 Apr 2023 17:35

Savannah Energy to develop new hydroelectric project in Cameroon

(Alliance News) - Savannah Energy PLC said on Thursday that its subsidiary had signed a memorandum of agreement with the government of the Republic of Cameroon for the development of a new hydroelectric project in the country's northern region.

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20 Apr 2023 17:23

TRADING UPDATES: Greatland hails gold find; Capital revenue climbs

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

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5 Apr 2023 16:52

IN BRIEF: Savannah Resources reports narrowed full year loss

Savannah Resources PLC - European lithium development company - Reports pretax loss from continuing operations of GBP2.7 million in 2022, narrowed from GBP3.5 million a year prior. Adds revenue was zero in the period, unchanged from 2021, while administration expenses rose to GBP3.5 million from GBP3.3 million. Highlights a foreign exchange gain of GBP0.8 million compared to GBP0.2 million. Explains should a positive decision on the project's environmental report be received from the Portuguese environmental regulator, cash reserves will carry the company into the second phase of the environmental licencing process and allow Savannah to progress the definitive feasibility study on the Barroso Lithium Project.

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3 Apr 2023 16:57

Savannah Resources says Barroso public consultation period extended

(Alliance News) - Savannah Resources PLC on Monday said it has been told by the Portuguese Environmental Agency that the public consultation period on its Barroso lithium project will be extended by a further 15 days.

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23 Mar 2023 19:36

TRADING UPDATES: Regulatory wins for Eden; Marula AIM listing progress

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

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17 Mar 2023 20:15

TRADING UPDATES: Powerhouse Energy hails lease for forthcoming centre

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

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17 Mar 2023 16:28

Savannah Resources upbeat on proposed EU materials regulation

(Sharecast News) - Lithium developer Savannah Resources welcomed the new Critical Raw Materials Act from the European Commission on Friday.

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23 Feb 2023 16:53

Savannah meets with Portugal environment watchdog over lithium project

(Alliance News) - Savannah Resources PLC on Thursday said it completed meetings with Portugal's environment watchdog over its Barroso lithium's project envrionmental impact assessment, and that it is on track to deliver an updated project report for March 17.

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14 Feb 2023 17:17

Savannah Resources notes Portuguese state acquitted as defendants

(Alliance News) - Savannah Resources PLC on Tuesday noted that Portugal has been acquitted as a defendant in the lawsuit brought against it by the parish of Covas do Barroso.

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6 Feb 2023 11:31

Savannah Resources confident of decarbonisation due to study results

(Alliance News) - Savannah Resources PLC on Monday said that the company's path towards decarbonisation remains clear, after receiving encouraging results from initial study work.

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27 Jan 2023 10:46

IN BRIEF: Savannah says deal with MRG Metals on mining asset expired

Savannah Resources PLC - Europe-focused lithium development company - Says the period to conclude an option agreement with MRG Metals Ltd for its remaining mining concession in Mozambique has expired. Both parties have mutually decided not to proceed with entering into an option agreement.

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18 Jan 2023 21:58

TRADING UPDATES: Bankers net assets drop; Invinity Energy wins funds

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

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30 Dec 2022 12:27

IN BRIEF: Savannah Resources extends due diligence for mining sale

Savannah Resources PLC - London-based lithium development company - Extends due diligence period for proposed transaction between its subsidiary AME East Africa Ltd and MRG Metals Ltd. Says proposed transaction is sale of Mining Concession 9735C in Mozambique, relating to an option agreement entitling MRG Metals to acquire it. Extension is to January 27 from Saturday last week. Says both parties agree to allow more time for MRG Metals to conduct due diligence, while all other aspects of the proposed transaction, first announced in early November, remain unchanged.

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