1st Dec 2025 22:17
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Monday, Friday and not separately reported by Alliance News:
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Caspian Sunrise PLC - London-based mining company focused on Kazakhstan's oil and gas sector - Publishes 2024 and first-half results, and its suspension from AIM is lifted. Reports swing to pretax profit of USD5.3 million, against a USD174,000 loss the year before. Revenue surges to USD31.5 million from USD15.0 million. For the first half of this year, its pretax loss narrows to USD1.8 million from USD2.1 million the prior year. Revenue from continuing operations decreases to USD3.3 million from USD8.0 million. Oil trading revenue falls to USD3.3 million from USD5.9 million. Generates no offshore oil services revenue, down from USD2.1 million. Looking ahead, Caspian believes it is "in a much stronger position than for many years", noting for example that "The award of a full production licence for an initial three year period for the Airshagyl structure allows the continued development of a potentially transformational asset." Also: "The well tests at the Block 8 Contract Area are encouraging and once the Block 8 Contract Area acquisition completes should provide a second potentially transformative asset to develop." Adds that its "mineral projects under consideration are exciting and in a sector far less affected by international sanctions than oil & gas".
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Mkango Resources Ltd - Vancouver, Canada-based company focused on production of recycled rare earth magnets, alloys and oxides - Reports pretax loss of USD12.6 million for the third quarter ended September 30, widened from USD384,904 the year before. Total expenses have increased to USD1.7 million from USD558,882. Cash and equivalents total USD2.0 million as of September 30, up from USD1.2 million one year prior. For the nine months to September 30, expenses increase to USD4.3 million from USD2.2 million. Pretax loss widens to USD16.3 million from USD2.1 million.
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GRIT Investment Trust PLC - investor in small and mid-capitalisation natural resources and mining companies - Reports results for the 15 months to March 31, compared with 2022. Net pretax loss on ordinary activities narrows to GBP77,000 from GBP225,000. Other expenses decrease to GBP167,000 from GBP282,000. Notes that its "principal investment has been its 25% equity interest in and loans to Anglo-African Minerals PLC", but that "following a military coup d'etat in Guinea in 2021, the prospect of selling AAM is extremely unlikely". "Due to the long history of failed attempts to realise value from the company's investment in AAM, we continue to adopt a prudent view and to reflect the company's investment in and loans to AAM at a nil value," GRIT adds. Looking ahead, GRIT believes that the "continuing war in Ukraine, elevated levels of global inflation and subdued economic conditions continue to have a detrimental effect in equity markets." Says it is working with advisers to progress its proposed reverse takeover of Nabirm Global LLC, for which it signed non-binding heads of terms in August.
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Ajax Resources PLC - London-based natural resources investment company - Interim pretax loss for the six months to August 31 was GBP301,663, widened from GBP84,005. Interim diluted loss per share widens to 0.52 pence from 0.20p. Chief Executive Officer Ippolito Cattaneo says the half-year "has been one of significant progress and activity for the Company. During the period, we completed the acquisition of the Eureka Project in the Province of Jujuy, Argentina...Against the backdrop of strong gold and copper prices and considering Eureka's long and well-established history of production - most notably from the historic Mina Eureka, first exploited during the Incan period - the terms achieved represent a highly favourable outcome." Looking ahead, he says that "our intention is to complete two to three initial drillholes at the Eureka Project before year-end, enabling us to provide the market with early indications from our maiden drilling campaign ahead of the festive period. Looking into 2026, our goal is to advance Eureka towards the delineation of a commercially viable deposit, supported by a planned drilling programme of approximately 5,000 metres, subject to Phase 1 results. Alongside this, we intend to strengthen and expand our portfolio through targeted, complementary acquisitions." Ajax approaches next year "with a grounded optimism", he adds.
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Foresight Group Holdings Ltd - FTSE 250-listed, Jersey-registered investment fund targeting environmental infrastructure, with assets in the UK and Europe - Announces that the obligation to pay an initial AUD19.6 million, around GBP9.7 million, in earn-out consideration is due regarding the acquisition of Infrastructure Capital in 2022. Notes that 50% of the consideration is being satisfied through shares, and that it has instructed that 775,679 ordinary shares or 74% of the due amount be transferred on Monday, with the remainder to be transferred "in the coming days". "The maximum total earn out consideration from the acquisition of Infrastructure Capital could be AUD30 million and a further announcement will be made in due course if further amounts become due," Foresight says. Adds that the consideration shares are with AUD9.8 million at around 464.27p each. "The entirety of the share element of the earn-out consideration is subject to forfeiture until 30 June 2028 based on certain performance-based targets," it notes.
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CleanTech Lithium PLC - exploration and development company advancing lithium projects in Chile - Says that the vendors of 23 mining concessions at Laguna Verde have submitted a legal claim. The concessions were acquired by subsidiary CleanTech Laguna Verde Spa under a deal announced in April 2024. The legal action, of which CleanTech Lithium was made aware on November 24, is intended to seek payment of the second instalment under the sale & purchase agreement due to "the ongoing delay". "CLV was not legally served with the claim, and so court proceedings were held without CLV's knowledge or presence, preventing an opportunity to defend against it," CleanTech says. "In CLV's absence, a judgement from those proceedings was passed which awarded a lien over the issued share capital of CLV." Says CLV has petitioned the relevant court "seeking the annulment of the proceeding, based on improper service of the lawsuit", and that it is "confident that this petition will be resolved favourably". Adds that it is "satisfied that non-payment of the second instalment has no bearing on its application for the special lithium operating contract for Laguna Verde, which is to be applied for through a different CleanTech subsidiary".
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Earnz PLC - Cheltenham, England-based energy services company - Predicts no impact from the UK autumn budget presented on Wednesday. Says it acknowledges the announcement regarding the termination of the energy company obligation scheme, which was originally scheduled to conclude in March next year. Says its current business activities and future growth strategy are not reliant on this programme, and that ECO scheme revenue represents less than 1% of annual turnover. "As a result, the decision to end the scheme is not expected to have an impact on the company's activities or outlook," Earnz says. CEO Peter Smith comments: "Earnz continues to monitor developments closely and looks forward to the publication of the government's anticipated Warm Homes Plan, which is expected to provide further clarity on future energy efficiency initiatives. The company will continue to engage with the government and remains committed to working collaboratively to provide services that deliver better housing stock and homes for the communities in which we operate."
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By Emma Curzon, Alliance News reporter
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Related Shares:
Caspian SunriseMkango ResourcesGrit Inv TstAjax ResourcesForesight Group HoldingsCleantech LithiumEarnz Plc