Thor Energy Share News (THR)

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

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SolGold PLC - Ecuador-focused exploration company - Announces progress with geotechnical program at Cascabel project. Says an Ecuadorian company that specialises in geotechnical drilling has been awarded the contract. The first drill is scheduled in the third quarter.

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Downing Strategic Micro-Cap IT PLC - London-based investment trust - Ahead of Wednesday's annual general meeting says board has received the assessment of two leading independent proxy advisory agencies to vote in favour of all of the resolutions, is in line with the board's unanimous view. In July, company receives request to requisition a general meeting from Vidacos Nominees Ltd, acting as nominee of Milkwood Capital Ltd. Resolutions sought to remove Hugh Aldous and Robert Legget from the board and appoint three nominees of Milkwood. Company said at the time it considered the decision as "wholly self-serving and against shareholders' best interests".

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GreenRoc Strategic Materials PLC - London-based mining company with operations in Greenland - In the six months to May 31, says pretax loss narrows to GBP399,000 from GBP418,000 a year ago. Income totals GBP23,000 compared to zero. Administrative expenses nudge up to GBP420,000 from GBP416,000.

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Ultimate Products PLC - Manchester-based owner of homeware brands, including Salter and Beldray - Issues trading update for financial year to July 31. Says revenue decreased 6.5% to GBP155.5 million from GBP166.3 million. Notes supermarket ordering held back by overstocking, weakened consumer demand for general merchandise, and strong prior year comparatives having been bolstered by the exceptionally strong demand for energy efficient air fryers in the first half last year. Adjusted earnings before interest, taxes, depreciation and amortisation falls 11% to GBP18.0 million from GBP20.2 million and unaudited adjusted pretax profit falls 14% to GBP14.4 million from GBP16.8 million. In the new financial year, says trading is in line with market expectations. Company is working hard to mitigate short-term impact on gross margin from the significant increase in shipping rates, arising from disruption in the Red Sea. This has stabilised recently, company notes.

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Eqtec PLC - Cork, Ireland-based waste-to-value solutions for hydrogen, biofuels, and energy generation - Sets long stop date of Friday for transfer of funds to be completed in relation to settlement agreement with Logik Developments Ltd. Expects to receive GBP2.0 million.

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NextEnergy Solar Fund Ltd - Guernsey-based specialist investor in solar energy and energy storage - Net asset value falls 3.2% to 101.3 pence at June 30 from 104.7p at March 31. Declares dividend of 2.10p up from 2.08p a year ago. Targets annual payout of 8.43p, forecast dividend cover is 1.1x to 1.3x for the year to March 31, 2025.

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Gunsynd PLC - London-based investment company - Investee company Aberdeen Minerals Ltd, a UK based Nickel-Copper exploration company, issues update. Drilling program is underway at Arthrath Central within the Arthrath project. Two rigs were mobilised to the site on July 10. This current campaign will see 2,650 metres of core drilling over six holes between July and September, as the first stage of an overall 6,300 metre program. Drilling has been positive so far.

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Home REIT PLC - London-based real estate company, which invests in social housing across the UK - Reaches an agreement with Mansit Housing CIC, a non-performing tenant, for the surrender of its leases on 68 properties which it rents from Home REIT. These equate to around 4% of Home REIT's portfolio by number of properties as at July 31.

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Thor Energy PLC - exploration company, which has prospective projects in Australia and the US - Forms joint venture with ASX-listed Investigator Resources Ltd in relation to farm-in funding agreement for the Molyhil and Bonya projects in the Northern Territory, Australia. Says JV formed by IVR spending AUD1.0 million on the tenements and the transfer of 25% interest in the Molyhil tenements and the sale of Thor's 40% interest in Bonya tenement. IVR will issue Thor AUD250,000 in IVR stock.

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By Jeremy Cutler, Alliance News reporter

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