TRADING UPDATES: European Metals interim loss widens after new costs

Tue, 16th Mar 2021 18:58

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

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European Metals Holdings Ltd - mineral exploration and development company focused on Cinovec lithium-tin project in Czech Republic - Posts pretax loss for the half year ended December 31 of AUD2.3 million, widening from AUD1.5 million a year prior. Revenue was AUD551,480, after reporting none in year before. Incurs new costs which did not feature a year prior including a AUD60,000 cost for facility and advance fees and AUD543,603 equity accounting on investment in Geomet, a lithium explorer in which the company holds a 49% stake. Says it has sufficient cash flows to meet all commitments and working capital requirements for the 12-month period.

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Helium One Group Ltd - Tanzania-focused helium miner - Notes mobilisation of data acquisition team, vibroseis trucks and geophones to the wholly-owned Rukwa Project in Tanzania. Announces the appointment of Lorna Blaisse as principal geologist. "We are delighted to be able to progress to the next stage of the seismic campaign at Rukwa. The data acquired will enable us to better visualise subsurface structures that could be trapping substantial helium resources and reduce geological risk ahead of our drilling campaign," says Chief Executive David Minchin.

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Scirocco Energy PLC - investment company that targets production and development opportunities within the European energy market - Notes Helium One's progress in Tanzania. Scirocco holds a 4.6% stake in Helium One.

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CATCo Reinsurance Opportunities Fund Ltd - investor focused on offering returns from investments linked to catastrophe reinsurance risks - Says net asset value fell in 2020 to USD111.8 million at December 31, 2020 from USD306.9 million at December, 31, 2019. NAV per share increased to USD0.2828 at December 31, 2020 from USD0.2659 at January 1, 2020. Says the increased NAV per share was due to a reduction in claims associated with the 2017 California wildfires. Does not declare a dividend, compared to payouts amounting to USD50.6 million the prior year.

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Harworth Group PLC - Rotherham, South Yorkshire-based land and property regeneration - Adds missing pages to 2020 results, which were omitted due to a formatting issue. The pages missing included the audited results for 2019. Posts EPRA net asset value per share at December 31 of 160.0 pence, up from 155.6p a year prior. Net asset value increases to GBP488.7 million from GBP463.8 million. Declares total dividend per share for 2020 of 1.8p, up from 0.3p a year before. Says demand for our serviced land has remained strong and it continues to see this in the first few months of 2021. Also notes it is making progress across the portfolio and exploring potential acquisitions.

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By Greg Roxburgh; gregroxburgh@alliancenews.com