The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Borders & Southern Petroleum PLC - oil and gas exploration company focused on the Falkland Islands - Says pretax loss in the six months ended June 30 narrows to $558,000 from $857,000 a year prior, as administrative expenses fall 19% to $603,000. Says current focus is on derisking the Darwin gas discovery in the Falkland Islands.
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Celsius Resources Ltd - West Perth, Australia-based explorer focused on its portfolio of copper-gold resources in the Philippines - Says Philippine subsidiary, Makilala Mining Co Inc receives Declaration of Mining Project Feasibiluty approval for its Maalinao-Caigutan-Biyog copper-gold project in the Cordillera region in the Philippines. Says DMPF approval is the last step in the permitting process for the MCB project. Adds that the DMPF enables the company to move forward with obtaining a mineral production sharing agreement with the Philippine government, which would enable the development and operation of the MCB priject. Says MPSA application has been submitted. Celsius Executive Chair Julito Sarmiento says: ‘This is one of the key final milestones in the MCB project permitting process. Following the approval, we are anticipating the mining permit to be delivered within a short period of time. With investors now showing genuine interest, we are hopeful to move the MCB project forward to development and operations so that we can create value for shareholders and provide positive impacts for our project stakeholders.’
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Plant Health Care PLC - Manchester-based maker of biological products for agriculture - Says its Moshy and Teikko products will be launched in Brazil ahead of the 2024 soybean season. Moshy, also known as PHC25279, is a foliar product used to control foliar diseases in coffee and sugar cane. Its is already registered in Brazil. Teikko, or PHC68949, is a seed treatment used designed to control harmful nematodes in soybean fields. It is expected to be registered in Brazil before the end of the year. Chief Executive Officer Jeff Tweedy says: ‘We expect Moshy and Teikko to be novel biological products that will deliver control of nematodes and diseases in critical Brazil crops. These new product launches are key steps for Plant Health Care in meeting our $30 million revenue target by 2025.’
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Zoo Digital Group PLC - AIM-listed provider of cloud-based localization and digital distribution - Ahead of annual general meeting set to take place on Thursday afternoon, says it expects revenue for the first half of the year ending March 31 to be around $21 million, down 59% from, $51.4 million a year prior. Says this will lead to a ‘significant’ earnings before interest, tax, depreciation and amortisation loss in the first half of the financial year. Says revenue for the second half of financial 2024 is likely to be similar to the first half, and notes a possible increase in the fourth quarter. Nottes that it is cutting costs to achieve break-even in the fourth quarter, and has also delayed its acquisition of a Japanese partner. Says the Hollywood writers and actors strike continues to have a significant impact, noting that visibility ‘remains limited’ as a result. Adds it is unlikely that former order levels will resume in October.
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Concurrent Technologies PLC - Essex, England-based designer and manufacturer of computer boards - Launches new ruggedised plug-in-card, Buddon. Says it provides a ‘a technology upgrade for those customers who have deployed systems based on 3U CompactPCI.’ Engineering Director Nigel Jowitt says: ‘Concurrent Technologies has built up an excellent reputation for supporting legacy hardware. Buddon is another proof point of the Company providing solid and dependable options to our traditional customer base and that we can additionally use as the basis of our own rugged systems.’
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Rurelec PLC - South America-focused power producer and developer of power plants - Swings to pretax loss of £454,000 from a £697,000 profit a year before. Operating loss narrows to £380,000 from £496,000 a year prior.
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Cobra Resources PLC - South Australia-focused gold and rare earth exploration company - Reports a pretax loss of £307,101 in the six months ended June 30, widened slightly from a loss of £226,953 the year prior. During the period, announced a maiden rare earth mineral resource estimate of 20.9 million tonnes at 658 parts per million total rare earth oxides in saprolite above and proximal gold mineralisation. Looking forward, says its focus for the second half of the year is on the advancement of the Boland discovery. Plans to drill sonic core holes to better understand mineralogy at Boland, build baseline environmental and hydrological datasets, and re-analyse historical palaeo-channel samples.
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