Galantas Gold Corporation aims to extend its current loans after it recorded more than a three-fold increase in losses at Cavanacaw gold mine in Omagh, Northern Ireland. FINANCES For the year ended 31 December 2022, Galantas’ financial statement showed net loss rose to C$16,633,939 due to a property, plant and equipment impairment of $10,124,920 (2021: loss […]
Tag: financial results
Galantas doubles losses at Cavanacaw mine
Galantas Gold Corporation reported an increase in losses for its operations at Cavanacaw mine in Omagh, Northern Ireland. FINANCES In its financial results for the quarter ended 31 March 2022, the Canadian company’s losses amounted to CA$1,415,812 (2021: $639,963). General administrative expenses increased to $1,171,170 (2021: $505,097) while cash outflow from operating activities also rose […]
Europa strong financial results driven by Wressle
Europa Oil & Gas (Holdings) plc said it had recorded its strongest interim results since H1 2014 with a four-fold increase in revenue driven by Wressle oil production and high prices. The company has oil and gas exploration, development and production interests in the UK, Morocco and Ireland FINANCES In its interim results for the […]
Block looks at financing options following ‘robust’ Q1
Block Energy plc said it was looking at “non-dilutive financing options” to accelerate production at its gas and oil operations in Georgia. PRODUCTION The company included the news in its report for the three months ended 31 March 2022. Production was 46.1 Mboe (Q4 2020: 34.6 Mboe), comprising 32.1 Mbbls of oil (Q4: 24.9 Mbbls) and 14.0 Mboe of gas (Q4: 9.7 Mboe). […]
CAML copper plant unaffected by Kazakh unrest
Central Asia Metals plc reported no disruptions from recent unrest to its electro-winning copper recovery plant in Kounrad, Kazakhstan. FINANCES In its financial results for Q4 and full year 2021 for Kounrad and the Sasa zinc-lead mine in North Macedonia, the company said copper production was in line with expectations. Central Asia Metals held cash […]
Scotgold to extend Cononish mine life and aim for mid-tier status
Scotgold Resources Ltd recorded an increase in pre-tax losses but aims to develop Cononish mine into an 18-year operation and build a mid-tier mining company in Scotland. FINANCES In its results for the year ended 30 June 2021, the Australian-owned company recorded pre-tax losses of $4,980,942 (June 2020: $2,504,134) with revenue of £299,807. COMPELLING ECONOMICS […]