Deltic Energy plc remained debt free during 2020 while making technical progress with its gas licences in the Southern and Central North Sea. In its full year results ended 31 December 2020, the company reported net cash outflow from operations and investing activity of £1.8m (2019: £1.8m), and a cash position of £12m (2019: £13.8m) following an increase in […]
Tag: financial results
Serica 2020 profits plunged but operations continued
Serica Energy plc’s pre-tax profits for 2020 plummeted due to low oil prices and Bruce caisson shut-in but the company managed to continue operations. No Covid-19 cases or injuries were recorded and the company avoided furloughing staff and government assistance programmes. Serica also continued to make progress with its environment, social and governance policies with […]
IGas revenue fell while investments rose during 2020
IGas Energy plc’s revenue during 2020 nearly halved and debt doubled while the group increased investments and its reserves were upgraded. The group’s full year results ended 31 December 2020 showed revenues of £21.6 million (2019: £40.9m), with average production of 1,907 boepd (2019: 2,325 boepd). Net debt was reported at £12.2m (2019: £6.2m) and […]
Horizonte makes strides at Brazil nickel-cobalt projects
Horizonte Minerals plc reported significant progress and a strong cash position for 2020 at its nickel and cobalt operations in Brazil. The company is developing the Araguaia project as the next major ferronickel mine in Brazil, and the Vermelho nickel-cobalt project, both of which are 100% owned by Horizonte. In its final results for the […]
Altona losses rise as rare earths plan takes shape
Altona Rare Earths plc reported higher losses in 2020 reflecting an increase in the companies’ move towards its new focus on rare earths elements (REEs). For the six months ended 31 December 2020, the company recorded losses of £119,000 (H1 2019: £78,000). The group had total liabilities of £536,000 at 31 December 2020 (H1 2019: […]
Condor Gold records transformational 2020
Condor Gold plc said its activities during 2020 had been transformational as it reported a decrease in losses and increased fundraising and cash balance for its La India project in Nicaragua. For the year 2020, the group’s losses were £1,309,992 (2019: £1,542,781). The company raised a total of £8 million after expenses (2019: £5.8m), and […]