Source - Alliance News

Tectonic Gold PLC - mineral explorer in Australia and South Africa - Swings to pretax profit of £46,660 in the six months to December 31, from a loss of £105,569 a year prior. Reports revenue of £84,104, compared to none a year ago. Posts no costs regarding employee benefits, management fees and on costs, compared to £40,000 a year prior. Accounting and audit fees increase to £45,400 from £18,710.

Looking ahead, Managing Director Brett Boynton says: ‘Our investment alongside London listed Kazera Global Investments PLC in the heavy mineral sands and diamond projects in South Africa waiting on approval from the South African National Nuclear Regulator for final permitting. Kazera has advised that the decision is expected by the end of April 2024 with operations to commence immediately thereafter.’

He adds: ‘The team continues to evaluate other opportunities that are being presented and securing a suitable transaction for the company will be the focus for the remainder of the year.’

Current stock price: 0.10 pence each, down 55% on the Aquis Exchange on Thursday

12-month change: down 82%

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