The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Caledonia Mining Corp PLC - Zimbabwe-focused gold producer - Reports second quarter gold production from the Blanket Mine and the Bilboes Oxide Project in Zimbabwe. At Blanket, production totals 17,436 ounces in the quarter, up 8.7% from 16,036 the quarter prior but down 13% from 20,091 ounces the previous year. In the first half of 2023, Blank production totals 33,472 ounces, down 13% from 38,606 ounces the year prior. At Bilboes, production totals 1,076 ounces in the second quarter, up sharply from 105 ounces the quarter prior. There was no production at Bilboes last year. Combined Blanket and Bilboes production in the first half of the year is 34,653 ounces, down 10% from 38,606 ounces the year prior. ‘After an encouraging start to the second quarter at Blanket, production was below expectations in May and the first half of June. Management interventions to identify and address the problems appear to have been successful and production improved substantially in late June and early July. Production in the first week of July was at a record level and was almost 400 ounces better than planned. Whilst we have much work to do to make up for the production shortfall from the first six months, we are confident that we will do so and we therefore re-iterate our production guidance for 2023 of between 75,000 and 80,000 ounces of gold,’ comments Chief Executive Mark Learmonth.
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Windward Ltd - Tel Aviv, Israel-based maritime artificial intelligence company - Notes positive momentum in the first half of 2023, with annual contract value at June 30 at $27.6 million, up 23% from the same time a year prior. Revenue in the half is expected to be no lower than $12.7 million. This would be up 17% against the year prior. Gross margin is expected to improve to 77% from 72% as a result of an increase in revenue and cost-saving actions taken earlier in the year. ‘The first half of 2023 has been a very successful one for the company and we remain confident in delivering on market expectations for the full year...We remain focused on our ambition to be cashflow positive and to reach [earnings before interest, tax, depreciation and amortisation] breakeven earlier than we stated at the time of our [initial public offering] and we look forward to a successful second half and updating our shareholders further in August,’ says CEO Ami Daniel.
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IQGeo Group PLC - Cambridge-based developer of geospatial productivity and collaboration software for telecoms and utility network operators - Expects to report ‘very strong’ revenue and order intake performance in the first half of 2023. Says this is due to increasing demand in its markets. Interim adjusted earnings before interest, tax, depreciation and amortisation is expected at no less than £2.5 million. This would be up sharply from $200,000 the year prior. Adds adjusted Ebitda is also in line with its expectations for the full-year. Interim revenue is expected to more than double and exceed £20.0 million. The previous year, interim revenue totalled £9.2 million. ‘Our achievements over the last six months validate our strategy and this, together with good visibility over future activity, give us great confidence of delivering against our financial and operational targets for the remainder of the financial year and over the longer term,’ says CEO Richard Petti.
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Ferro-Alloy Resources Ltd - Kazakhstan-focused vanadium producer and developer - Notes previously announced factory upgrades are now completed and in operation. Says that following these upgrades, it production in the second quarter of 2023 was ‘the best production quarter achieved by the group to date in terms of both tonnes of concentrates treated and tonnes of metal recovered across all product lines.’ In the second quarter, reports 1,016.6 tonnes of concentrate were processed, up sharply from 194.1 tonnes in the quarter prior. Reports 141.4 tonnes of vanadium pentoxide were produced, up from 31.3 tonnes the quarter prior. Reports 14.1 tonnes of molybdenum were produced, up from 6.5 tonnes the quarter prior. Reports 50.8 tonnes of nickel was produced, up from 9.7 tonnes the quarter prior.
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