The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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Henderson Eurotrust PLC - focused on European, excluding the UK, investments - Net asset value per share ends July 31 at 142.1 pence, sinking from 167.4p at the same point a year prior. Declares 3.8p dividend, rising from 2.5p a year before. NAV total return in year negative 13.9% versus benchmark returning negative 7.0%. It explains: ‘The backdrop has been of recovery from Covid, war in Ukraine and a resurgence of global inflation, and in a time of disruptive change companies with recovery prospects and low valuations have tended to outperform the types of company we own, especially in the early part of the year.’
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Vertu Capital Ltd - Malaysia-based investment firm - In six months to June 30, operating loss before tax narrows to £61,478 from £86,099 the year prior. Operating expenses rises by same amount. Continues to progress proposed reverse takeover of Vox Capital, which owns a mobile marketing agency, Mobio Global.
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Genflow Biosciences PLC - London-based biotechnology company - In first six months of 2022, pretax loss widens to £773,794 from £374,062 in the same period a year prior. Administrative expenses rises to £696,402 from £372,291. Chair Yassine Bendiabdallah says: ‘The strategic collaborations combined with the deep expertise of Genflow’s management team and the company’s strong cash position, enables us to look to the future with confidence.’ Listed in London at start of 2022.
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Ross Group PLC - London-based supply chain management and distribution company - In six months to June 30, pretax loss widens to £686,000 from £85,000 the year prior. Does not generate revenue in either period. It says: ‘Whilst there has been no revenue during this particular period from any outside third party contracts, it is now the group’s intention to significantly revert and re-implement resources that will enable the Group to grow its global supply chain services and produce a more substantial revenue stream in the future.’
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RA International Group PLC - Africa and Middle East-focused construction and support services provider - In six months to June 30, pretax loss narrows significantly to $3.4 million from $33.0 million as revenue grows to $29.2 million from $28.4 million. Narrowed loss stems from non-repeat of $31.0 million impairment from selling assets and inventory at Palma project in Mozambique.
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Pathfinder Minerals PLC - Mozambique-focused natural resources explorer - In six months to June 30, pretax loss narrows to £185,000 from £298,000 loss the year prior. Administrative expenses drops to £185,000 from £298,000. Does not generate revenue in either period. Chair Dennis Edmonds says: ‘We will work closely with Acumen Advisory over the remainder of the year on due diligence and their potential entering into binding definitive documentation. We also look forward to progressing other opportunities under review for our Pathfinder Battery Commodities subsidiary.’
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Goldstone Resources Ltd - Jersey, UK-based gold development company with projects in West Africa - In six months to June 30, pretax loss widens to $648,167 from $548,628 a year prior. Operating loss narrows to $287,370 from $548,628 as it generates revenue of $5.3 million. Does not generate revenue in prior-year period. Administrative expenses grows to $2.4 million from $548,628. Chief Executive Emma Priestley says: ‘It is with cautious optimism that I look forward to the remaining months of 2022 and into 2023, as we continue to make stead progress towards achieving our production goals.’
Separately, extends maturity of the gold loan with Asia Investment Management Service to September 2023.
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Great Western Mining Corp PLC - Nevada-focused gold, silver and copper project developer - In six months to June 30, pretax loss broadly flat year on year at €448,652 versus €427,590 the year prior. Administrative expenses rises to €448,860 from €427,703. Does not generate revenue in either period. Chair Brian Hall ‘very pleased’ with progress in period. ‘We set out our stall with an ambitious drilling programme, completed on time and on budget, with positive results received to date,’ he adds.
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Premier African Minerals Ltd - Africa-focused minerals and metals project developer - Sinks to pretax loss in six months to June 30 of $4.9 million versus $3.9 million profit the year prior. Does not generate revenue in either period. Administrative expenses rises to $4.9 million from $742,000. Notes, during period, it begins construction activities at Zulu.
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Caerus Mineral Resources PLC - copper miner in Cyprus - In six months to June 30, operating loss before tax widens to £1.4 million from £415,553 loss in the year prior. Administrative expenses rises to £724,268 from £414,543. Books £667,075 net impairment on licence disposal in period. Does not generate revenue in either period. Chief Executive Charlie Long says: ‘Notwithstanding the serious issues we discovered since arriving towards the end of the period, operationally the first half of 2022 has seen good progress at the main project Troulli, a brown field copper-gold deposit in the southeast of Cyprus.’
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Landore Resources Ltd - BAM gold project at Junior Lake in Ontario, Canada - Operating loss before tax in six months to June 30 narrows to £794,385 from £2.4 million loss a year prior. Exploration costs sinks to £398,341 from £1.6 million, but administrative expenses grows to £818,316 from £794,818. Does not generate revenue in either period. Currently performing strategic review on its Canadian assets. Says: ‘Phase one of the Strategic Review will be completed at the end of Q3 2022, at which time the board will consider its corporate direction to the benefit of shareholders.’
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