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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Petro Matad Ltd - Douglas, Isle of Man-based petroleum exploration company focused on Mongolia - Pretax loss for the first half of 2022 widens to $1.6 million from $1.0 million a year before. Employee benefit costs increase to $874,000 from $331,000 and other expenses grow to $542,000 from $486,000. Interest income multiplies to $20,000 from $1,000.
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Mobile Streams PLC - London-based mobile content provider - Signs a five-year contract to become the exclusive provider of all non-fungible token products for the Atlante Football club. NFTs are digital data stored in a blockchain. Says its share of the contract is roughly $3.7 million. ‘The agreement also requires MOS to make a small initial cash payment to Atlante and if certain revenue targets in a year are met then a minimum revenue guarantee would exist for the next year,’ it adds.
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Atlantic Lithium Ltd - lithium asset developer and producer focused in West Africa - Completes the pre-feasibility study for the Ewoyaa Lithium project in Ghana. Records a maiden ore reserve of 18.9 megatons at 1.24%, demonstrating ‘sound’ resource to reserve conversion.
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Great Western Mining Corp PLC - Nevada-focused gold, silver and copper project developer - Receives the final assay results from its recent drilling programme in the OMCO mine area of the Olympic Gold project in Nevada. Records gold over a 6.1 metre interval. This includes a best intercept of 8.1 grams per tonne over 1.5 metres.
‘At Hole 15, drilled this summer, assay results tell us that we have now intercepted an extension of the OMCO vein itself, one of our key objectives, encountering vein material beyond the known limits of the old workings. Significantly, the trend is open to the southeast in unexplored acreage adjacent to the old workings. This is a very exciting result which will enable us to home in on the potential of the asset,’ Chair Brian Hall comments.
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Europa Oil & Gas Holdings PLC - oil and gas exploration, development, and production in UK, Ireland and Morocco - and i3 Energy PLC - oil and gas producer in the UK and Canada - Say the Serenity appraisal well on the UK Licence P.2358 was spudded. Expects the programme drilling to last roughly 30 days. The well will be plugged and abandoned after completion of all drilling operations.
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Getech Group PLC - Leeds, England-based green hydrogen company - Progresses with its Shoreham Port Green Energy Hub collaboration and extends exclusivity to 2027.
‘Having completed an extensive engineering programme demonstrating commercial feasibility for the Green Energy Hub, Getech’s exclusivity has now been extended by the Shoreham Port for a 5-year period, taking the project through development, to planned first green hydrogen production and beyond,’ the company says.
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Grafenia PLC - Manchester-based printing and software company - Agrees to acquire the entire issued share capital of Plymouth-based ecommerce software business Vertical Plus Ltd for £2.9 million in cash.
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Wilmington PLC - London-based provider of information and training for governance and risk & compliance - In the year ended June 30, revenue rises 7% to £121.0 million from £113.0 million a year before. Swings to pretax profit of £36.1 million from loss of £2.0 million. Says investments in technology and data are aiding its growth, as it builds single technology platforms in each division. Increases dividend 37% ‘in line with profit’ to 8.2 pence from 6.0p. ‘We have a resilient business model with increasing recurring revenues. We have seen good demand in all areas during the first quarter of the current financial year, generating revenues and profitability in line with our expectations,’ says Chief Executive Officer Mark Milner.
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Pantheon Infrastructure PLC - Investment trust managed by Pantheon Ventures and focused on infrastructure assets - Issues earnings report for period from September 9, 2021 to June 30, 2022, having floated on the London Stock Exchange back in November. Says net asset value per share was ‘broadly flat’ over the period, with no material valuation adjustments, closing at 97.9p. Declares first interim dividend of 1p per share. Records pretax loss of £557,000, narrowed from £1.2 million back in September, 2021. Loss per share narrows to 0.14p from 0.29p. ‘Pantheon expects the strong deal flow it has witnessed over the last few years to continue. The current pipeline is strong, with opportunities presenting across all main sub-sectors and geographic regions,’ says Chair Vagn Sorensen.
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Prospex Energy PLC - investor in onshore and shallow offshore European gas and power projects - In the first half of 2022, pretax profit surges to £7.0 million from £129,356 year-on-year. This is due to a £7.6 million gain on revaluation of investments and loans, compared to £488,335 a year prior. Net book value of investments stands at £14.3 million at the period end, compared to £6.7 million at the end of December. Cites ‘very bright’ outlook. ‘With significant levels of cash to be generated from Selva and El Romeral and existing organic opportunities in Spain and Italy, the Company can confidently execute on new investment opportunities,’ says Non-Executive Chair Bill Smith.
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Jersey Oil & Gas PLC - Jersey-based oil and gas company focused on the North Sea - In the six months to June 30, posts no revenue, unchanged year-on-year. Pretax loss narrows to £1.2 million from £1.9 million. ‘Great progress is being made with our GBA farm-out process - the key activity for the group in 2022. Interest is strong, technical studies across the various development solutions are well advanced and commercial discussions are ongoing with serious, well-funded counterparties. Since launching the process, the company’s engagement strategy has been broadened to advance a range of competing development solutions, thereby providing increased optionality,’ says CEO Andrew Benitz.
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