The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Hummingbird Resources PLC - gold miner with operations in Mali, Guinea and Liberia - Revenue in 2023 rises to $167.1 million from $150.5 million a year prior. Pretax loss narrows to $18.7 million from $44.3 million and loss per share falls to 4.30 US cents from 8.71 cents. Cost of sales drops to $141.0 million from $169.5 million. Says the start of financial 2024 has ‘presented challenges, particularly at Kouroussa, with a fire at the main fuel depot in Guinea and an operational suspension by Corica.’ Further, notes the recent announcement by Pasofino Gold Ltd regarding the completion of its diamond core drilling programme at the Bukon Jedeh gold camp in Liberia. Hummingbird holds a 53% shareholding in Pasofino. Notes drilling was completed on time and within budget. Sampling is currently 50% complete, with the first batch of samples set to be sent to the laboratory by Pasofino in early June. Results of this first batch are expected during July, and will be reported as they become available.
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MyHealthChecked PLC - Cardiff, Wales-based consumer home-testing healthcare company - In 2023, revenue more than halves to £11.0 million from £22.3 million a year prior. This reflects a lower demand for Covid lateral flow tests. Expects future demand to be cyclical in nature reflecting the seasonality of upper respiratory diseases like flu. Company swings to pretax loss of £195,000 from pretax profit of £1.5 million. Calls 2023 a ‘pivotal’ year. ‘The company is now in a strong position with sufficient working capital available to fund the next growth phase as we continue to prioritise quality and customer service to become a leading supplier in the wellness testing sector,’ MyHealthChecked says.
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Atrato Onsite Energy PLC - renewable energy-focused investment trust - Announces £9.3 million acquisition of a fully operational portfolio of solar photovoltaic systems. The portfolio includes three solar assets with a total capacity of 13 mega watts with a 10-year average remaining contracted term. Believes this portfolio to be a highly attractive addition to the existing portfolio of solar assets due to its attractive return profile, with a substantial proportion of the revenue stream underpinned by government backed income and 100% uncapped retail price index inflation linkage. Finances portfolio by utilising available headroom in the revolving credit facility which was increased to £40 million in March by accessing £10 million of the accordion facility.
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Crystal Amber Fund Ltd - invests in small and mid-cap UK equities - Says Morphic Medical Inc, in which company holds an around 82% stake receives approval from the US Food & Drug Administration for Morphic’s application for amendments to certain requirements for its pivotal study, which is approved as a staged study. The FDA also references that there are no subject protection concerns. These changes are expected to accelerate access to the key US markets for the treatments of diabetes and obesity by 18 months. Morphic is now seeking to target sales in the US market in 2026, subject to successful completion of the study and trials.
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UK Oil & Gas PLC - London-based energy exploration and production company - Further to announcement in June 2023, issues RiverFort Global Opportunities PCC Ltd and YA II PN Ltd a further 244.4 million equity shares to repay a further £55,000 of a loan. Notes the principal balance now stands at £0.3 million of the £2 million gross first cash sum received.
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Deltex Medical Group PLC - Chichester, England-based company, which manufactures blood circulation monitoring systems - Announces the successful award by NHS Supply Chain of the national framework tender for the new TrueVue system in the UK. The award means that the new TrueVue system has been selected by NHSSC as a pre-approved device that can be purchased by NHS hospitals. The framework agreement will commence on June 8 and runs for a minimum of 24 months, with an option for it to be extended by up to another 24 months.
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Oriole Resources PLC - West Africa-focused mineral exploration and development company - Provides exploration update for its 80%-owned Mbe gold project in the Adamawa region of Cameroon. Says infill soil sampling has significantly improved the definition of previous regional gold-in-soil anomalism. This programme has identified three key zones for more targeted follow-up. Explains a trenching programme has commenced while a second infill soil sampling programme is nearing completion.
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