Egdon Resources plc has repaid the £1 million facility loan to Union Jack Oil plc and recorded £2m revenue from its onshore oil projects. FINANCES The company’s unaudited report for Q3 of its financial year (February to April 2022) showed revenue of £2.23m (2021: £0.31m and H1 2022: £2.55m). Egdon said that revenue was primarily […]
Tag: company results
Tertiary records £600,000 losses from copper projects
Tertiary Minerals plc reported operating losses of £604,213 from its copper portfolio in Nevada and Zambia. FINANCES The company’s unaudited results for the six-month period ended 31 March 2022 showed an impairment of £361,379 relating to the Pyramid gold-silver project in Nevada. This followed reverse circulation drilling at the project failing to demonstrate mineralisation at […]
Cornish Metals holds solid cash ahead of VBR investment
Cornish Metals Inc ended last year with a significant increase in cash despite nearly doubling losses at its copper-tin project in Cornwall. FINANCES The Canadian company published its annual results on the same day it announced that Sir Mick Davis‘s Vision Blue Resources Ltd will be the ‘controlling person’ with the completion of a £40 […]
Union Jack confident after ‘financially transformational’ year
Union Jack Oil plc said it remained highly positive for the future following a nearly 12-fold increase in profits from its exploration and production assets in the UK. FINANCES The company’s audited results for the year ended 31 December 2021 showed revenues rose nearly 12-fold to £1,894,875 (2020: £158,004) from production at Wressle, Keddington oilfield […]
Galantas losses increase at Cavanacaw gold mine
Galantas Gold Corporation reported an increase in losses as administrative costs doubled for its gold project at Cavanacaw in Omagh, Northern Ireland. FINANCES The Canadian company’s results for year ended 31 December 2021 show net loss of CA$5,284,431 (2020: $3,228,452). General administrative expenses were $4,332,865 (2020: $2,065,277). Cash outflow from operating activities before changes in non-cash […]
Hurricane swings to profit in year of ‘profound change’
Hurricane Energy plc said it ended 2021 in a much stronger position than at the start, with a “solid financial platform and very good operational performance” at its Lancaster field, west of Shetland. FINANCES For the period ended 31 December 2021, the company reported revenues of $240.5 million from seven liftings of Lancaster crude (2020: […]