Emmerson PLC - Morocco-focused potash development company - Pretax loss widens to USD3.2 million in 2022 from USD2.8 million in 2021. Says all the company's activities during 2022 were focused on bringing the Khemisset potash project in Morocco into production as quickly as possible. Notes several hurdles, including the finalisation of basic engineering and design work, obtaining environmental approvals, the raising of finance, working with potential offtake partners, and putting together the necessary teams to execute construction. "Obtaining the environmental approval is clearly on the critical path for the company, and it would be impossible to deny that it has already taken longer than had been hoped, or expected," the company says. However, Chief Executive Graham Clarke says the project is now closer to obtaining environment approval.
Current stock price: 4.49 pence, down 1.3% in London on Thursday afternoon
12-month change: down 38%
By Heather Rydings, Alliance News senior economics reporter
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Emmerson (EML)