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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Vela Technologies PLC - Early stage-focused technology investor - Reports zero revenue in the year to March 31, unchanged from the year prior, alongside a rise in administrative expenses to £401,000 from £347,000. Pretax loss narrowed to £378,000 from £1.1 million. Explains this loss has arisen primarily from fair value movements on the company’s investment portfolio.
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Trellus Health PLC - New York-based digital health platform provider - Reports revenue in the six months to June 30 of $14,000 compared to $10,000 the year prior. Pretax loss narrowed to $3.6 million from $4.8 million. Basic loss per share totalled $0.02 compared to $0.03. Dr Marla Dubinsky, chief executive said: ‘We are actively engaged in late-stage discussions with a large national health plan which we are confident will lead to Trellus Elevate being available at a greater scale.’
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Gowin New Energy Group Ltd - China-based LED lighting products and tea trading - Reports zero revenue in the six months to June 30, unchanged from the year before. Pretax loss widened to RMB3.3 million from RMB2.0 million. Basic and diluted loss per share totalled RMB0.011 compared to RMB0.007. Explains there has been little material change to the financial position of the group since the recently released 2022 annual report. ‘Like the rest of the world, Gowin is contending with economic uncertainty and inflationary impacts, defensive consumer sentiment, geopolitical risk, policy risk and the climate change & sustainability agenda,’ company says.
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Hamak Gold Ltd - mining exploration and development company operating in Liberia - Reports pretax loss of $261,000 narrowed from 1.5 million the year before. No revenue was disclosed while basic and diluted loss per share totalled $0.006 compared to $0.10 before. Karl Smithson executive director said: ‘The first half of 2023 has seen the team at Hamak Gold focus on the promising high-grade Ziatoyah gold discovery in the Nimba licence, where initial drilling has intersected 20m at 7g/t Au near surface. We are encouraged by the exploration progress being made to identify extensions to the high-grade gold mineralization discovered in the Nimba licence. Further work will continue to focus on detailed mapping, structural interpretation and investigations into the extensive 3km x 1km gold in soil anomaly associated with the gold discovery already made.’
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Tiger Royalties and Investments PLC - London-based mining investor - Reports net asset value per share at June 30 of 0.05 pence compared to 0.12p the year prior with total net assets of £248,000 compared to £542,000. Pretax loss totalled £247,923 widened from £227,406. Basic loss per share was unchanged at 0.05p. Remains confident on the fundamentals for base metals, particularly for copper and battery metals. Believes, more than ever, that there is a light at the end of the tunnel and that a commodity boom cycle revolution is in the making.
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Atlantic Lithium Ltd - Sydney-based, Africa-focused lithium exploration and development firm with assets in Ghana and Ivory Coast - Reports pretax loss for the year ended June 30 of A$11.5 million narrowed from A$34.7 million. Administrative expenses rose to A$1.6 million from A$1.1 million. Basic loss per share totalled A$0.02 compared to LPS of A$0.061. ‘Looking forward, the next major catalyst for the Company is the ministerial award of the Mining Lease, which would be a significant landmark not only for the Company, but also for Ghana, as the country’s first lithium Mining Lease. We hope to be granted the Mining Lease shortly, enabling us then to begin the permitting phase,’ company says. Cash position at June 30 was A$15.3 million, down from A$23.9 million.
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