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TRADING UPDATES: AltynGold, Rambler Metals & Mining revenue grows

Mon, 26th Sep 2022 20:22

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

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Fuller, Smith & Turner PLC - London-based pub and hotel company - Plans to repurchase up to 1 million of A shares for a maximum price of 5% per share over the average middle market price. The shares are of 40 pence each. Says the purchases will be made on its behalf. The purpose of the programme is to increase the number of shares held in treasury and to meet future obligations arising from its long-term incentive plan, as well as share-based reward plans.

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Serabi Gold PLC - Brazil-focused gold miner - Intersects Zonta vein, which lies around 100 metres further west of the Senna vein at its Palito mine in the Tapajos region of Para State, Brazil. Identifies high grade intercepts with the recent underground drilling.

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Vast Resources PLC - London-based miner with projects in Romania and Zimbabwe - Raises gross proceeds of GBP656,000 through a placing of 164.0 million shares at 0.40 pence per share. The placing was undertaken by its joint broker Axis Capital Markets Ltd. Says the net proceeds will support its operations over the coming weeks. This is the consequence of a delay in exporting its latest concentrate shipment, due to shipping availability as well as the start of the underground production ramp up occurring later in the third quarter of 2022. Expects the next concentrate sale from its Baita Plai project in the first half of 2022.

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AltynGold PLC - London-based gold mining company with assets in Kazakhstan - Pretax profit rises to USD11.6 million from USD9.3 million a year before. Revenue grows to USD32.1 million from USD23.0 million. Sells 17,542 ounces of gold in the period up from 12,560. Expects to process up to 650,000 tonnes for ore in 2022.

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Walls & Futures REIT PLC - London-based designer and developer of specialist social housing - Pretax profit in the year to March 31 narrows to GBP122,279 from GBP214,169 the year before. Revenue falls 37% to GBP93,455 from GBP148,420. Intends to use assets as collateral for loans to finance future Pax Homes developments.

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India Capital Growth Fund Ltd - investment fund - Net asset value per share as at June 30 115.00 pence, down 15% from 134.74p as at December 31. Underperforms its benchmark index, the BSE Midcap Total Return Index, which fell by 8.5%. Share price as at June 30 falls 20% to 96.00p from 119.75p as at December 31. Says Indian equity markets where underperforming. Adds exporters and global facing companies were particularly hard hit.

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Martin Currie Global Portfolio Trust PLC - Edinburgh-based investor in sustainable listed growth companies - Records a total net asset value per share return of negative 8.8% in the six months to July 30, underperforming its benchmark, the MSCI All Country World index, which returned negative 1.0%. Attributes declines to geopolitical events, high inflation and rising interest rates that led to a sell-off in equity markets. Records revenue per share of 1.39p, up from 1.00p. Maintains its interim dividend at 1.80p. Warns of uncertain outlook, "with inflation reaching levels not seen for a generation."

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Rambler Metals & Mining PLC - Surrey, England-based copper and gold producer - Pretax loss in the first half of 2022 widens to USD9.6 million from USD4.8 million a year before. Administrative expense rise 27% to USD3.3 million from USD2.6 million. Revenue rises 90% to USD25.4 million from USD13.4 million. "This is a direct effect of the ramp up in operational activity as production volumes increased by 130% over H1 2021," the company says.

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By Abby Amoakuh; abbyamoakuh@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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Vast Resources raises £1.48m to cover Atlas liability

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