Delta Gold shares fall as annual pretax loss reaches GBP1.3 million

Delta Gold Technologies PLC slid in trading after it reported no revenue and a £1.3 million loss for its first year.

Delta Gold funds university research into quantum computers. Its shares were down 4.0% to 120.00 pence on the Aquis Exchange in London on Tuesday.

The company reported no revenue for the period ended April 30 and started on April 24, 2025, when it was incorporated. Delta Gold said this was expected, as it is still in the research and development stage. Pretax loss was £1.3 million.

The company raised £5.2 million during the period. On April 30, it held cash and cash equivalents of £3.5 million, with no borrowings and no external debt.

Non-executive Chair Mark Burnett said: "The period under review has been one of steady execution; deepening our academic research relationships, broadening our capital markets presence, and taking the first concrete steps toward a protectable portfolio of intellectual property in quantum computing materials."

In February, the company signed a research sponsorship & exclusive technology licensing agreement with Pennsylvania State University. Under the deal, Delta Gold will provide the university USD2.9 million in research funding over three years in return for an exclusive, royalty-bearing licence for the resulting intellectual property.

Regarding its previous agreement with the University of Toronto, Delta Gold said it approved the early release of its second-year research funding in February, ahead of schedule, to accelerate an upgrade to the research team's cryo-refrigeration system.

Looking ahead, the company said the quantum computing sector remained in its early stages, with intense research and significant technical and commercial challenges for operators involved. However, it said it is encouraged by university partnerships and external validation of its technology thesis.

Delta Gold also said it sees "significant opportunities in quantum communications and quantum sensing."

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