(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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Orosur Mining Inc - South America-focused minerals exploration and development company - Reports net loss of USD818,000 in three months to February 28 widened from USD37,000 a year prior. Notes cash balances of USD4.2 million flat year-on-year.
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Oracle Power PLC - Cambridge, England-based power and natural resource project developer - Reports significant progress during the first quarter of 2023, developing a series of strategic industry partnerships as it advances the development of its flagship asset, the 400MW Green Hydrogen Project in Sindh, Pakistan. Targets total annual output of 55,000 tonnes of high purity green hydrogen to mainly export for use in industries, utilities and transportation sectors. Expects to progress strategic relationships with industry leading partners in the coming months.
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Byotrol PLC - Chester, England-based developer of antimicrobial technologies and products - Expects results for the year to March 31 will be in line with market expectations. Forecasts sales of GBP4.6 million, comprising GBP4.3 million from product sales and GBP0.3 million from IP sales and royalties. Highlights significant improvement in gross margin on product sales - 41% compared to 37% a year prior, reflecting multiple improvements in operating processes. Expects adjusted EBITDA of negative GBP£0.8million and cash at year-end of GBP0.7 million. Company says: "We remain confident in delivering significant growth in the current financial year and returning to profitability."
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Power Metal Resources PLC - metals exploration company, focused on North America, Africa and Australia - Announces results from the recently completed 2022/2023 drilling campaign at the 1,478.6 km2 Molopo Farms Complex Project. Reports multiple drillholes successfully intersected mineralised pyroxenites which returned anomalous precious metal, gold, platinum and palladium mineralisation. Adds results achieved for nickel and precious metals are in line or exceed some of the highest results achieved from the minimal historical exploration that has been completed within the Molopo Farms complex.
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Yourgene Health PLC - Manchester-based medical diagnostics company - Expects to report revenues for financial year 2023 of GBP19.0 million, above market expectations and at the mid-point of the guidance range stated in the interim results released in December. Remains focussed on accelerating the growth within its core offerings of NIPT, Ranger Technology, and PCR tests, for which revenue grew by 19% year-on-year. Adds adjusted Ebitda loss for the year is also expected to be in line with market expectations. International revenues are up 70% year-on-year with strong performance in the Americas and Asia Pacific. Further, says negotiations relating to the potential divestment of the Taiwanese laboratory are progressing as expected.
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Molecular Energies PLC - Argentina and US-focused oil and gas production company, with additional exploration assets in both Argentina and Paraguay - Provides an update on its Green House Capital alternative Energy Division, a 75%-owned subsidiary. GHC acts as an incubator to promote and develop green and new-energy related business. Company feels hydrogen fuel is the best solution to decarbonise long-haul land transport in the global energy transition. Explains GHC, via its 100% subsidiary, HYSO, is developing an innovative solution which provides flexible hydrogen refuelling. Says preliminary concept designs have been prepared and discussions are taking place with leading automotive engineering consultants with the objective of providing an internationally usable solution to be trialled at or around the end of this year. Adds the company is in various discussions regarding further projects into which Green House Capital may invest.
By Jeremy Cutler, Alliance News reporter
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Orosur Mining (OMI)
Oracle Power (ORCP)
Byotrol (BYOT)
Power Metal (POW)
Molecular Enrgy (MEN)