EARNINGS AND TRADING: GreenRoc loss widens; CyanConnode takeover nears
The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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GreenRoc Strategic Materials PLC - London-based mining company with operations in Greenland - First half pretax loss widens to £711,000 from £432,000 a year prior. Reports no revenue. Chief Executive Stefan Bernstein says: "The period under review has seen GreenRoc make several major advances: securing a 30-year exploitation licence for Amitsoq, strengthening our funding position, advancing our environmentally responsible purification route and commissioning key elements of our anode materials pilot plant. All of these represent important steps towards establishing GreenRoc as a strategic European supplier of battery-grade graphite. With Phase III drilling now underway and support in place from major Danish and European institutions, we enter the next stage of development with confidence and clear momentum." Group cash totals £647,000 at period end, a net cash inflow of £466,000.
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Arrow Exploration Corp - Colombia-focused oil producer - Swings to second quarter net income of USD10.4 million from a loss of USD934,735 a year ago as revenue climbs to USD34.2 million from USD15.9 million. Adjusted earnings before interest, taxes, depreciation and amortisation total USD25.2 million, compared to USD6.3 million. CEO Marshall Abbott comments: "The second quarter of 2026 has been very productive for Arrow, our best quarter yet. The discovery of the Icaco field has resulted in the beginning of a large development plan. The multi-formation discovery will result in additional reserves and drilling inventory for Arrow. We are excited by the Icaco discovery; it has become a major production platform with a material impact on the company." Arrow says it continues "constructive engagement" with authorities regarding the Tapir block extension. Believes it is "well positioned to secure the extension based on satisfaction all of the relevant requirements."
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Xtract Resources PLC - London-based diversified metals and minerals producer - Raises £2.1 million through the issue of 210.0 million shares at 1.00 pence each to existing shareholders and new investors. Fundraise comprises placing of 177.0 million shares for £1.8 million, as well as direct share subscriptions for 33.0 million shares for £330,000. Executive Chair Colin Bird is subscribing for 2.5 million subscription shares for £25,000, leaving him with 24.8 million shares or 1.77% of Xtract's enlarged share capital. The issue price is equal to the stock's closing middle market price on Wednesday. Fundraise participants will also receive one warrant per new share subscribed for, exercisable at 2.00p for three years from admission. Xtract intends to use the placing proceeds to progress its Amghas antimony and Silverking copper projects.
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Galantas Gold Corp - mining and exploration company, focused on producing gold and copper from its assets in Northern Ireland and Chile - First half net loss widens to CAD7.0 million from CAD1.9 million a year ago, reports no revenue.
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Predator Oil & Gas Holdings PLC - Morocco and Trinidad-focused oil and gas company - Reports first half oil sales volume of 52,130 barrels, bringing net petroleum revenue to £1.5 million. In Trinidad, says civil engineering works for the Snowcap-3 well pad and production facilities are progressing on schedule. Civil engineering works for the MOU-6 well pad in Morocco are complete, and explosives for perforating guns necessary for well testing have arrived. "This is the most critical long-lead item for determining the timing of rig mobilisation," Predator says.
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Alien Metals Ltd - Australia and Mexico focused minerals explorer - Says joint venture partner West Coast Silver Ltd reports "exceptional" final diamond drilling assay results at the Elizabeth Hill Silver Project. Highlights include 38.3 metres at 878 grammes per tonne gold from 3.7 metres downhole, including 22.3 metres at 1,495g/t gold. "Drilling in a new orientation from west to east confirms an extension of mineralisation into granite outside of MRE and high-grade mineralisation within the MRE that had not been extensively tested by previous drilling from east to west," Alien says. An updated mineral resource estimate is planned for the fourth quarter.
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Cadence Minerals PLC - London-based mining services company - Says it continues to target completion of refurbishment works at the Amapa Iron Ore Project by August 31. "Once the refurbishment is complete the plant is intended to progress into integrated commissioning. Commercial operations and shipments remain subject to successful commissioning and receipt of the operating licence," the company says. Additionally, reports that operator DEV Mineracao SA has submitted its application for the operating licence for the Azteca plant to the Amapa State Environmental Secretariat.
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CyanConnode Holdings PLC - Cambridge, England-based developer of narrowband radio frequency mesh networks - Updates on acquisition offer by Esyasoft Technologies UK Ltd. In March, Esyasoft made a possible all-cash offer proposal which values the company at £37.5 million, or 10.44 pence per share. The acquisition was accepted by the CyanConnode board late last month. Says Blue and White forms must be lodged by September 1 at 11:00 and 11:15, respectively. The court and general meetings are scheduled for September 3, with the sanction hearing to be held on September 10, the final day of dealings in CyanConnode on September 11, and the effective date on September 14.
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