11th Jul 2025 19:06
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued in the two weeks to Friday and not separately reported by Alliance News:
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Oracle Power PLC - Western Australia and Pakistan-focused minerals and power projects - Issues an update regarding progress during the second quarter of 2025, which "marked another significant period" for the Northern Zone intrusive hosted gold project in Western Australia. Says metallurgical test work confirms "average gold recoveries of 92.56%, further supporting the viability of oxide mineralisation". Oracle and its partner completed a drilling programme "which confirmed and extended the shallow gold mineralisation associated with the porphyry system". Also says it "made further strides in refining and advancing its exploration efforts" at the Blue Rocks Valley copper and silver project in Australia, with maiden geochemical sampling results confirming "copper anomalies consistent with known mineralisation" and revealing new zones. "We are also pleased with the support received from the government of Sindh to extend the validity of key project permissions for our renewable energy and green hydrogen initiatives," says Chief Executive Officer Naheed Memon. "These approvals underscore the strength of our partnerships and the strategic importance of our work in Pakistan."
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Chelverton UK Dividend Trust PLC - Chelmsford, England-based mid to small-cap company-focused investor - Releases annual results for the year ended April 30. Net assets total GBP29.9 million at the year end, down 11% from GBP33.5 million one year prior. Net asset value per share is 133.04 pence, down 15% from 155.59p. NAV total return is negative 7.17% for the period, against positive 0.30% for the year before. Company notes that the AIC UK Equity Income sector recorded an NAV total return of 8.90%. Dividends declared per ordinary share total 13.00p, up 3.2% from 12.60p. "This was the 15th year of consistent increases," notes Chair Howard Myles. He adds: "Despite the uncertainties, we remain confident in the prospects for small and mid-cap companies, whose market rating is historically low...we believe [the portfolio] now offers a compelling combination of an attractive dividend yield and the potential for capital upside from any recovery in the UK small and midcap market."
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EnQuest PLC - London-based oil and gas company with operations in the UK and Malaysia - Announces that it has completed the acquisition of Harbour Energy's business in Vietnam. The business holds a 53.13% equity interest in the Chim Sao and Dua production fields. Says completion confirms EnQuest as the operator, and is another important step in delivering diversified growth across south-east Asia. Also, the purchase "aligns with [EnQuest's] strategic aim to expand its operating footprint by investing in fast-payback assets, with low capex and reduced carbon intensity". EnQuest says the transaction is worth USD85.1 million and it has paid consideration (net of interim cash flows) of around USD25.7 million. Looking ahead, it plans to assess the block's prospectivity and work to "maximise value and translate discovered resources into reserves at the fields...with a view to extending the production sharing contract beyond its current end date of November 2030".
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Guinness VCT PLC - generalist venture capital trust seeking to invest in growth companies across a range of sectors including technology, healthcare, manufacturing and food & drink - Reports NAV per share of 97.71p at March 31, up from 97.21p last year. Swings to GBP40,955 pretax profit for the year ended March 31, compared with the prior year's GBP77,994 loss. Gain on investments held at fair value was GBP309,156 for the year, up from GBP113,899. Value of its investment portfolio is 8% over cost as of the year end, up from 3%. "It is pleasing to see the continued growth in NAV over the last twelve months and the company has [GBP4.23 million] to deploy in new investments and support existing investee companies," comments Non-Executive Chair Ewen Gilmour. "Furthermore, the performance of the underlying portfolio companies has been encouraging, with the portfolio value up 8% on cost and there are several strong performers within the portfolio which provides optimism for further growth. The board expects the company will pay its first dividend during the 2026/27 financial year...[Guiness VCT] is still early in its journey, and we are excited by the prospects of the investments made to date which we hope will provide strong returns for shareholders."
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Oscillate PLC - London-based firm creating a portfolio of base metals exploration and development projects, with a emphasis on copper - Signs non-binding heads of terms with Kalahari Copper Ltd, to acquire prospecting licences over Dalsu Prospects in Botswana. The licences "give Oscillate a pathway to 100%-ownership of highly prospective copper and silver exploration tenements and one of the largest tenement packages in the [Kalahari Copper Belt], assuming that all applications are transferred." Oscillate says it will target unexplored basin margins and strike extension of known deposits with ideal geological position for sedimentary copper. Says it has completed the first due diligence phase and paid Kalahari Copper GBP500,000. Upon finalising a share purchase agreement, consideration will comprise stock equating to 30% of Oscillate's issued and outstanding shares, and the right to acquire additional shares to maintain the 30% holding. Milestone payments of GBP1.5 million each would also be due upon an initial maiden JORC resource, a pre-feasibility study and a final investment decision.
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Igraine PLC - London-based healthcare and life-science investor - Reports "notable strategic progress despite a continued backdrop of economic volatility and subdued capital market conditions in the UK small-cap sector" during 2024. Says pretax loss narrowed to GBP251,521 from the previous year's GBP859,317 loss. Impairment loss of investments narrowed to GBP96,537 from GBP600,000 and Igraine swung to a GBP37,344 profit on revaluation of investments against 2023's GBP64,425 loss. Profit on disposal of investments is GBP15,000, up from nothing the prior year. Company notes that investee Fixit Medical "made strong advances in 2024, both in regulatory preparation and product development" and that in October it exercised exclusive investment rights over GEM Energia, which "[marked] a significant milestone in [its] strategic expansion into the battery energy storage sector". Adds that in this year so far, its investees have shown "continued advancement". In particular, Fixit "has continued to accelerate its progress, with important milestones achieved in manufacturing readiness, regulatory strategy, and strategic partnerships".
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By Emma Curzon, Alliance News reporter
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Related Shares:
Oracle PowerChelvertn UkEnquestHarbour EnergyGuinness Vct