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 […]
Tag: company results
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 […]
Europa profits rise despite low oil prices and weak pound
Profits rose more than 50% during a year of “significant” operational and financial progress for Europa Oil & Gas (Holdings) plc. WRESSLE Results ended 31 July 2023 show stable revenue of £6.7 million “despite a lower oil price and weaker pound” (2022: £6.6m). Gross profit increased by 53% to £3.4m (2022: £2.2m) with pre-tax loss […]
Reabold ‘encouraged by progress’
Reabold Resources plc held a strong balance sheet despite recording an increase in losses from its onshore Californian interests. FINANCES Half year 2023 results showed group loss of £3.65m (H1 2022: loss of £2.72m) with no revenue generated or costs incurred. Losses increased mainly from a £1.2 million decline in market value of its Daybreak […]
Hummingbird secures $55m refinancing for Kouroussa
Hummingbird Resources plc has agreed to refinance a portion, totalling US$35 million, of its existing Coris Bank group loan and secured $20m new loans for its West African operations. SUPPORT The refinancing of existing Coris Bank loans will see loan repayments deferred from Q3 2023 to full year 2024. Funds will provide additional cash flow […]