3rd Jul 2024 14:31
(Alliance News) - The following is a round-up of updates by London-listed companies, issued last week Friday and not separately reported by Alliance News:
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Amaroq Minerals Ltd - Greenland-focused Canadian gold miner - The government of Greenland approves the environmental impact assessment and social impact assessment for Amaroq's cornerstone Nalunaq project. Chief Executive Eldur Olafsson says: "I cannot emphasis enough the importance of achieving this milestone, towards which our team has been working for over four years. It has been a rigorous process involving many hours of work and dedication, including the production of numerous detailed technical background reports in support of our project design."
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Anglesey Mining PLC - mining company with operations in Wales, Sweden and Canada - Proposes to raise a total of about GBP415,000. Aims to raise GBP325,000 via placing about 32.5 million shares at 1 pence each, and GBP90,000 via a direct subscription of 9.0 million shares at 1p each. Anglesey Mining aims to use the funds for deelopmental work at Parys mountain, advancing development options at the Grangesberg iron ore mine, debt repayment and general working capital purposes.
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Rogue Baron PLC - Washington, DC-based distiller - Pretax loss widens to USD476,000 in the six months to March 31, from USD264,000 a year prior. Revenue dives to USD33,000 from USD164,000. Cost of sales decrease to USD35,000 from USD104,000. The company reports USD333,000 in expenses paid in shares of subsidiary, compared to no such cost a year ago. Chief Executive Officer & Founder Ryan Dolder says: "Rogue Baron is committed to continuing the expansion of Shinju Spirits. Concurrently, the company is now poised to launch its other brands and strategically explore new opportunities within the spirits industry—areas of opportunity that can provide considerable upside, limited risk, and the potential for significant revenue generation. Shinju is leading the way for Rogue Baron’s portfolio, establishing a strategic advantage for the company. With Shinju setting the precedent, Rogue Baron will look to raise additional funds to launch its other brands and capitalise on the momentum created by Shinju."
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St Mark Homes PLC - London-based residential and mixed-use property developer - Pretax loss balloons to GBP2.9 million in 2023 from GBP1.5 million in 2022. Reports no turnover compared to GBP559,200 a year prior. Administrative costs decrease to GBP369,306 from GBP1.3 million. Notably, reports share of operating loss of joint ventures of GBP2.5 million, widened sharply from GBP731,422. Announces income of GBP193 from interest receivable and similar income, down from GBP51,349. "The losses in our joint ventures have eroded our capital base and the board will bring forward a proposal to the 2024 AGM to delist from AQSE in the second half of the year," the company says.
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Thalassa Holdings Ltd - British Virgin Islands-based investment holding company - Announces that Chair Duncan Soukup makes initial restitution payments to the company of a total of GBP1.5 million. Further, he is committed to contribute an additional GBP3 million in total. The payments are in relation to losses incurred by the company as a result of its investment in Tappit Technologies UK Ltd, the company says. Leeds-based event technology services firm Tappit had been impacted by Covid pandemic restrictions.
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VVV Resources Ltd - investor focused on identifying opportunities in the precious metals and base metals sector - Pretax loss narrows to GBP117,000 in 2023 from GBP156,000 in 2022. Reports no revenue for either year. "This past year has continued to be a period of global uncertainty, volatility, and subsequent conflict. While the direct problems associated with the previously mentioned devastating Covid-19 pandemic have arguably dissipated, they have been replaced by further new challenges created by the escalating conflicts globally, and the uncertainty of China's allegiance have all significantly contributed to the impacts on global security, rampant inflation, energy scarcity and fears of global food shortages," the company says. Looking ahead, VVV Resources says it continues to review mineral projects in "several favourable jurisdictions".
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By Tom Budszus, Alliance News slot editor
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