15th Aug 2022 12:18
Horizonte Minerals PLC - nickel company focused on Brazil - Swings to interim profit as gain on foreign exchange surges. Pretax profit in the half-year ended June 30 stands at USD3.8 million versus a loss of USD3.2 million a year prior. Gain on foreign exchange more than quadruples to USD9.4 million from USD2.2 million. Administrative expenses widen to USD6.7 million from USD3.7 million. However, posts pretax loss of USD670,946 in the quarter to June 30, narrowed from USD1.9 million a year ago. Posts no revenue. Says outlook for its operations remains positive, but sees continued risk from the Covid pandemic. Further, firm closes a USD633 million funding package to build the Araguaia nickel project in the northern Brazil state of Para.
Pays no dividend, unchanged from a year ago.
Current stock price: 103.00 pence, down 1.0% on Monday
12-month change: down 36%
By Tom Budszus; [email protected]
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