The following is a round-up of earnings by London-listed companies, issued on Friday and not separately reported by Alliance News:
----------
i(x) Net Zero PLC - investor in energy transition - Net asset value per share on June 30 is $1.79 or £1.41, up from $0.90 or £0.75 on December 31. In the six months that ended June 30, swings to a pretax profit of $82.1 million from $284,460 loss a year earlier. This is after net changes in air value on financial assets multiplies to $84.7 million from $4.7 million. Chief Executive Officer Par Lindstrom says: ‘The first six months of the year have seen us make significant progress towards our aim of growing our NAV and creating a more streamlined business...As policy-makers in the US and the Americas advance their plans for achieving net zero, i(x) is perfectly positioned to grant shareholders exposure to the exciting and growing companies which are engaged in the journey towards a more sustainable future. We continue to streamline and sharpen the business, and we look forward to reporting further progress for the year as a whole.’
----------
Zephyr Energy PLC - Rocky Mountains-focused oil and gas company - In the six months that ended June 30, swings to pretax loss of $3.2 million from a profit of $17.4 million. Revenue falls to $13.4 million from $25.9 million, while operating and transporting expenses rise to $4.1 million from $2.1 million and administrative expenses rise to $3.0 million from $2.2 million. Chief Executive Officer Colin Harrington says: ‘The period under review was an active time for Zephyr, during which we invested significant new capital into both the Williston assets and the Paradox project. Over the next period we will continue the work required to transform the Paradox project into a revenue generating development, and we are delighted that the Dominion Energy pipeline - which crosses our leasehold position - has now been completed and will shortly be ready to accept third party natural gas volumes. Looking ahead, with a diverse portfolio of cash flowing assets, potential for substantial future organic growth, a solid financial footing and a talented and dedicated team of employees, we continue to be extremely optimistic about Zephyr’s future.’
----------
Artemis Resources Ltd - Gold and copper-focused exploration company with two major projects in Western Australia - In the financial year that ended June 30, pretax loss widens to A$16.9 million, or £9.0 million, from A$7.5 million a year earlier. This was due to a one-off impairment expense of A$13.0 million. Bottom line also affected by no gain on disposal of exploration projects, as seen a year earlier for around A$1.7 million.
----------
Premier African Minerals Ltd - Africa-focused metals and mineral project developer - In the six months that ended June 30, pretax loss widens to $7.5 million from $4.9 million a year earlier. This is due to administrative expenses rising to $7.2 million from $4.9 million. Posts no revenue, unchanged. Chief Executive Officer George Roach says: ‘I believe this will be the last time that I potentially report interim results that do not include details of cash generative operations. The six months to June 30 have been difficult and this has been widely reported in various announcements over the past 4 months. The plant did not achieve name plate throughput production as per the original design and our relationship with Canmax Technologies Co Ltd came under severe duress. That said, the outcome in the past month has the hallmarks of setting aside all that disappointment and with the completion of the installation of the RHA mill and restarting operations in the latter part of September 2023, we expect to meet the production target for shipments in November 2023. At the same time, this use of the RHA mill only allows for up to 50% of target production and the supply of a new mill to meet full design throughput is expected ex works in [the fourth quarter] of 2023. This is expected to be installed and commissioned in early [first quarter] of 2024 following a two-week installation shutdown that we plan to coincide with the festive break.’
----------
East Imperial PLC - New Zealand-based tonic waters and mixers producer - In the six months that ended June 30, pretax loss widens to £2.0 million from £1.5 million a year earlier. Revenue marginally falls to £1.3 million, cost of sales rise to £1.2 million from £1.0 million, while administrative expenses fall to £1.5 million from £1.7 million. Finance costs increase to £446,000 from £16,000. Founder & Chief Executive Officer Anthony Burt says: ‘There’s little doubt that [the second quarter was challenging for the company, particularly after enjoying 40% [annual] growth in [the first quarter]. Nevertheless, I am extremely excited to have a strong distribution investor and distribution partner in China, the world’s largest market. Despite the delay in funding, in markets where we had stock, such as the [Asia-Pacific] region, we grew 24.7% against the same period last year, showing the brand’s core strength.’ Also signs partnership deal with US cocktail delivery company Cocktail Courier. Burt says: ‘We’ve been super-impressed with Cocktail Courier and their commitment to offering high-quality cocktails and their overall customer experience. East Imperial, being the official mixer for their kits, highlights what Scott and the team are trying to achieve, and having our products in his customers’ hands is a fantastic opportunity to drive trial with the perfect target consumer.’
----------
Ormonde Mining PLC - holds stakes in Toronto-listed gold and copper explorer Tru Precious Metals Corp, which has a project in Newfoundland, Canada, and in battery metals explorer Peak Nickel Ltd - In the six months that ended June 30, pretax loss widens to €454,000 from €363,000 a year earlier. Administration expenses widen to €536,000 from €350,000. Posts no revenue, unchanged. Chief Executive Officer Brendan McMorrow says: ‘I am very pleased with the progress achieved during the first six months of 2023. During the period we identified and negotiated two highly attractive investment opportunities to advance the board’s stated goal of generating shareholder value by leveraging the company’s balance sheet and resources whilst carefully managing its operating costs. The company now has exposure to two compelling, diverse and complementary exploration opportunities. These opportunities position the company and its shareholders for future capital growth, while retaining a stock market listing on the Aquis Growth Market.’
----------
Copyright 2023 Alliance News Ltd. All Rights Reserved.
