Red Rock Resources plc said it continued to rationalise parts of its portfolio to generate cash as the company recorded an increase in six-month losses. PRIORITIES Chairman Andrew Bell said that the company would focus on early gold production and other “immediate cash flow operations”. Medium or long-term projects will be prioritised for short- term […]
Tag: company results
Angus revenues rise on Saltfleetby production
Angus Energy plc recorded a steep rise in revenues from increased gas production at its 100% owned Saltfleetby field in east Lincolnshire. LIDSEY For the year ending September 2023, revenue from the field’s revenue rose to approximately £28 million (2022: £3m) on production of gross 31,750 bbls of oil and 25,228,853 therms of natural gas […]
Tullow swings to $435m loss
Tullow Oil plc swung to a loss driven by impairments and write-offs totalling $435 million from its operations. RELENTLESS Year results for 2023 showed loss from continuing activities of $110m compared with a $49m profit in 2022. The group wrote off exploration costs of $27m (2022: $105 million) mainly in Kenya following withdrawal of the JV partners. A re-assessment of risks resulted […]
Power Metal losses widen and cash held decreases
Power Metal Resources plc has widened its losses by more than £1 million while it continues to identify new opportunities in the natural resources sector. VALUE The company’s various polymetallic assets, interests and joint ventures are located in Africa, Australia, Canada and the United States. Full year results to 30 September 2023 show total comprehensive […]
Karelian swings to a loss in ‘significant’ year
Karelian Diamond Resources plc swung to a loss during the last financial year at its projects in East Finland and Northern Ireland. EXPENDITURE The company is exploring for diamonds on the Lahtojoki deposit in the Kuopio – Kaavi region and in the Kuhmo region as well as for nickel, copper and platinum group elements in […]
Altona losses rise in ‘transformational year’
Altona Rare Earths plc’s losses widened during a transformational year at its Monte Muambe rare earths project in northwest Mozambique. FINANCES Results for the year ended 30 June showed a loss of £1.3 million (2022: £800,000) while the company said it was focused on keeping administration costs to a minimum. The group’s total assets increased to […]