The following is a round-up of earnings for London-listed companies, issued on Monday, and in the case of Powerhouse Energy on September 19, and not separately reported by Alliance News:
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Anglesey Mining PLC - mining company with operations in Wales, Sweden and Canada - Pretax loss widens to £1.2 million in the financial year ended March 31, from £961,288 a year ago. Looking ahead, Chief Executive Officer Rob Marsden says: ‘Development of a new mine at Parys Mountain, producing copper, zinc and lead with gold and silver credits, can deliver economic growth in the UK, regional jobs for the community and business opportunities for local service providers. Importantly, these critical and strategic metals, essential for the decarbonisation of the economy, are primarily imported into the UK currently. This creates a unique and timely opportunity, both for Anglesey Mining and for the UK, to develop a new, modern, mine at Parys Mountain in an environmentally sustainable manner.’
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Corre Energy BV - developer of underground energy storage projects in Europe - Pretax loss narrows to €19,000 in the first half of 2024, from €11.4 million a year ago. Reports a finance gain of €5.9 million compared to finance expense of €5.0 million a year prior. The company expects to finalise an offtake agreement with Eurowind in the first half of 2024. ‘Our negotiations with our grid partner Energinet are advancing positively and proceeding to plan,’ it says.
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Hydrogen Utopia International PLC - London-based company specialising in turning non-recyclable mixed waste plastic into hydrogen and other carbon-free fuels - Pretax loss narrows to £418,367 in the first half of 2024, from £766,836 a year ago. Administrative costs reduce to £503,711 from £866,941. Looking ahead, says its outlook remains ‘very positive,’ citing a ‘high degree of confidence in the ongoing execution of its strategy.’
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Kefi Gold & Copper PLC - Nicosia-based exploration & development company focused on the Arabian-Nubian Shield - Pretax loss widens to £6.1 million in the first half of 2024, from £3.4 million a year ago. Administrative costs increase to £3.3 million from £1.5 million. Finance expenses increase to £1.5 million from £452,000. Gain from a dilution of equity interest in joint venture falls 29% to £833,000 from £1.2 million. On September 18, the company reported that early works at Tulu Kapi in Ethiopia were ‘progressing well,’ with all required inspections having been completed satisfactorily. Executive Chair Anagnostaras-Adams says: ‘We steadily work through the early works programme and preparing for the launch of major works. We remain on track for entering into definitive commitments from the funding syndicate next month, enabling financial close and triggering of the major works. We are grateful for the support and collaboration being received from the community, government agencies and our project syndicate. And we are lucky that the gold price keeps setting new record highs and Ethiopia has now re-joined the world’s top 10 growth countries.’
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Powerhouse Energy Group PLC - Bridgend, Wales-based non-recyclable waste-to-energy conversion company - Pretax loss widens to £1.2 million in the first half of 2024, from £576,574 a year prior. Reports revenue of £385,711 compared to none. Does not report a fair value gain on equity investment compared to £282,150 a year ago. Further, reports no loan reversal gain compared to £453,017. Looking ahead, expects the completion of the feedstock testing unit in the late final quarter of 2024. ‘The second half of the year promises to be an exciting one for PHE as we look forward to advancing the projects from our pipeline of opportunities. In addition to this, having a fully operational technology centre will undoubtedly help provide even greater impetus to our pipeline whilst further innovating the services that we can provide customers,’ says Chair David Hitchcock. Further, on Tuesday, the company celebrated progress at its technical centre in Bridgend. Chief Executive Officer Paul Emmitt says: ‘I am extremely pleased with the progress we are making on the FTU build, whilst we continue to maintain our schedule and budget. This is a hugely significant milestone for the company as having a fully operational technology centre will undoubtedly help provide us with even greater impetus to our pipeline whilst further innovating the services that we can provide.’
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Zanaga Iron Ore Co Ltd - iron ore exploration and development company - Reports a pretax loss of $1.1 million for the first half of 2024, widened from $350,000 a year ago. Chair Clifford Elphick says: ‘Port infrastructure discussions continue, and strategic partners remain interested in the Project. Volatile financial markets have delayed our engagement with these entities but we continue to remain positive on the potential to secure interest in the project in due course.’
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