Hummingbird Resources plc posted a stronger balance sheet and net cash position despite less gold produced from its projects in West Africa. EARN-IN The company faced higher costs and lower-than-expected gold production at Yanfolila due to Covid-19, a change in the mine plan, a coup in Mali which affected logistics, and extreme weather. For full year […]
Tag: financial results
Cornish Metals narrows losses
Cornish Metals Inc ended its last financial year with a low cash balance but narrowed losses at its copper-tin projects in South Crofty and United Downs, Cornwall. In its financial results for the year ended 31 January 2021, the Canadian exploration and development company recorded a cash balance of CA$353,601 [£207,000] (31 Jan 2020: $1,305,253). […]
Union Jack in ‘sound financial health ‘
Union Jack Oil plc said it was in sound financial health and on course to becoming a significant principally onshore mid-tier UK oil and gas producer. In its financial results for for the year ended 31 December 2020, the company reported increased revenue of £158,004 (2019: £136,959) from production income at Keddington and the Fiskerton […]
Condor Gold holds £6.3m as it nears shovel-ready status at La India
Condor Gold plc said it had made significant progress during the first quarter of 2021 in preparation for “shovel ready” status at La India project in Nicaragua. In its unaudited financial results for Q1 2021, the junior miner said it held a strong cash balance of £6,278,947 million (Q1 2020: £1,736,695). Total comprehensive loss was […]
Galantas records zero revenues and slight fall in losses
Galantas Gold Corporation announced no revenues and a marginal reduction in losses from Cavancaw mine in Omagh, Northern Ireland. In its audited annual financial results for the year ended 31 December 2020, the Canadian miner reported net losses of CA$3,228,452 (2019: $3,564,609). Galantas had a working capital deficit of CA$7,710,084 (2019: $6,093,200). Cash outflow from […]
United raises production guidance after ‘landmark’ 2020
United Oil & Gas plc recorded its first year of revenues in 2020 and raised 2021 full-year production guidance for its licences in Egypt. ABU SENNAN Results for the year ended 31 December 2020 showed group profit of $850,000 with $9.1m (£6.5m) revenues from its Rockhopper Egypt acquisition (28 February – 31 December 2020). United’s cash capital […]