Independent oil and gas company with assets and operations in the UK and Canada, i3 Energy (I3E) announced the unaudited results for the period ended 30 June 2021.
By Zak Mir
H1 revenue was £26.5mm (net) and net operating income (Revenue less royalties, opex, processing and transportation) of £12.5mm and cash flow from operations of £8mm. The company also revealed an H1 2021 dividend of £2.20 million or 0.2 p/share. Post period i3 agreed on terms with farm-in partners for the Serenity field appraisal drilling programme.
Mass spectrometry instruments and analytical solutions group Microsaic Systems (MSYS) announced its unaudited interim results for the six months ended 30 June 2021. The company said a strategic change of business model early in 2021 resulted in a recovery of revenues, increasing to £499k in H1 2021, significantly above H1 2020 and that of H1 2019, a pre-pandemic benchmark. In March the company unveiled a commercial agreement with DeepVerge (DVRG), facilitating the international deployment of Microsaic’s products and services in applications such as water monitoring of chemicals and pathogens, and in support of DeepVerge’s Labskin division. Microsaic said it anticipates the sales momentum of H1 to continue in H2 based on its sales pipeline. Potential collaborations and trials with DeepVerge may lead to significant opportunities in environmental water detection.
UK technology company commercialising hydrogen production from plastic, Powerhouse Energy (PHE) said that it has appointed Keith Riley as a Non-Executive Director with immediate effect. Between 2005 and 2012 he worked for Veolia Environmental Services plc as Group Managing Director for Technology and as Managing Director for Group Technical Services.
Space Tech specialist Seraphim (SSOT) announced an investment of $25 million into portfolio company Isotropic Systems, a leading developer of transformational broadband terminal technologies. Isotropic’s Series B funding round, which was led by the Company’s investment manager, Seraphim Space (Manager) LLP, raised more than $35 million. Other participants in the round included leading strategic and deep-tech venture capital investors, such as AEI HorizonX, Promus Ventures, and Firmament Ventures.
African tech-metals mining company, AfriTin (ATM) announced its unaudited interim results for the six months ended 31 August 2021. This showed revenue of £5.1 million, an increase of 468% over the corresponding six-month period ended 31 August 2020 with gross profit margin recorded of 22%. Since the end of the period the company outlined terms for a £4.5 million Senior Secured Term Loan has been agreed with Standard Bank Namibia Ltd subject to final documentation.
North America-focused lithium development group, Bradda Head (BHL) unveiled assay results with intercepts of over 2,000 ppm Li identified in its third twinned hole at its 100% owned Burro Creek East Project. The company said that these positive drilling results are some of the highest grades identified to date at Burro Creek East, not only providing further confidence to its geological model, but adding value and the potential to add further resources to its previously reported numbers of 185kt of LCE.
Prospex Energy (PXEN) showed it was happy to get on with business as usual as it reported on the progress that its joint venture company Tarba Energía S.L. has made with respect to recent legislation changes in Spain and its possible effect on its Tesorillo exploration permit in southern Spain. The company said that In communicating with shareholders over the past few months, it felt the need to clarify its position with Tesorillo in light of the recent legislative changes taking place in Spain and offer reassurance on the steady progress being made.
Cyprus focused exploration and resource development company Caerus Mineral Resources (CMRS) announced its unaudited interim results for the six months ended 30 June 2021. Post period has witnessed the commencement of a diamond drill programme for NI 43-101 Mineral Resource Estimation for the Troulli and Kokkinapetra Licences. The company said it continues to work closely with Jubilee Metals and looks forward to the results of on-going metallurgical test work aimed at developing an optimised mineral processing design as it moves forward with its projects.
Those looking at major chart support for Canadian Overseas Petroleum (COPL) will have to readjust their calculations and the international oil and gas exploration and production company said that effective October 1, 2021 all of the issued and outstanding common shares of the company will be consolidated on the basis of one post-consolidation Common Share for each one hundred pre-consolidation Common Shares.
Gasification solutions company EQTEC (EQT) said it has signed a Share Purchase Agreement with Rotunda Group Ltd and its subsidiary Shankley Biogas Ltd, to acquire full ownership of the Southport Hybrid Energy Park project from Rotunda through the acquisition of Shankley Biogas Ltd. The deal consists of an initial consideration of £382,000 from which the existing exclusivity payment of £100,000 will be deducted, is payable on the achievement of certain conditions precedent related to development milestones of the Project on or before a date 12 months from the date of signing of the SPA.
Copper and gold producer, explorer, and developer, Rambler Metals and Mining (RMM) advised on the evolving situation on the Baie Verte Peninsula in relation to the Coronavirus pandemic. The company said that the impact to the operation has been confined to minor production and development delays due to the non-availability of workers on certain shifts. Further impacts are expected for the next few weeks during the mandatory isolation period but are not expected to be long term.
Stock market newbie Zenova Group (ZED) announced that Southdown Housing Association which has selected its insulation products for a pilot project making use of the insulating properties and capabilities of Zenova IR render and Zenova IP paint is being launched on 4 October this year. In addition, Synetica Limited has been retained as an independent third party tasked with testing the effectiveness of the Zenova products used in this pilot programme.
AIM quoted mining and energy company, GCM Resources (GCM) said it has noted and reviewed the Chinese President’s address to the United Nations General Assembly, with particular attention to the comments regarding Developing Nations and Climate Change, and provide the following context statement in relation to the Phulbari Coal and Power Project. GCM note China would step up efforts to assist Developing Countries access “green” and “low carbon” energy, and that China would not build new coal-fired power projects abroad.
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