EARNINGS: Golden Rock loss widens; Mercantile loses Karanja control
The following is a round-up of earnings for London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Golden Rock Global PLC - Jersey-based investment company pursuing a proposed reverse takeover of StarEdge Digital Infrastructure Inc - Says its pretax loss widened to £656,355 in the first half ended June 30 from £288,713 a year earlier. Operating loss increased to £629,037 from £112,066, with professional fees rising to £316,449 from £95,708 as adviser costs increased while Golden Rock continues work on the proposed reverse takeover. The company's shares have been suspended from trading since January, with Golden Rock citing unexpected delays resulting from the reorganisation of SEDI. It says advisers, including legal advisers, reporting accountants, a financial adviser and sponsor, have now been appointed to progress the transaction.
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Metals One PLC - US-, South American- and African-focused mineral exploration and investment company - Says its pretax loss for the first half ended June 30 narrowed to £742,129 from £1.5 million a year earlier. Metals One is a project developer and investor and does not yet generate operating revenue. Administrative expenses accounted for much of the loss at £1.1 million, narrowing 11% from £1.3 million. It says the improvement reflects cost management efforts. Metals One notes the advancement of its South African gold and power strategy through Lion Bay Resources as a key focus. Looking ahead, the company says it enters the second half focused on its principal gold, uranium and AI metals interests.
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Mercantile Ports & Logistics Ltd - Guernsey-based developer, owner and operator of ports and logistics facilities - Says its pretax loss for the six months ended June 30 narrowed to £3.3 million from £28.8 million a year earlier. No revenue is reported for 2026, compared with £976,000 a year ago. Mercantile Ports & Logistics says the first six months are dominated by continuing legal proceedings concerning its investment in Karanja Terminal & Logistics Private Ltd and the loss of operational and financial control over that business. The loss of control includes access to KTLPL's underlying accounting records, banking information, management accounts and current operational data. As a result, Mercantile says it is unable to verify KTLPL's present financial position or incorporate complete and reliable financial information into its interim accounts, including its revenue. Looking ahead, Managing Director Pavan Bakhshi says the company's immediate priorities are to continue pursuing the recovery and protection of our investment in KTLPL "through every available legal avenue." He adds, "The past six months have been exceptionally challenging, but the board believes MPL retains valuable experience, strong relationships and access to opportunities capable of creating meaningful future value. We remain determined, positive and fully committed to protecting our existing investment and establishing a strong new platform for the company's next stage of growth."
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Thor Energy PLC - Australia- and United States-focused natural hydrogen, helium and strategic energy metal exploration company - Says its pretax loss narrowed to £1.4 million from £7.4 million. This primarily reflects an impairment of exploration assets of £42,000, substantially down from £5.0 million a year earlier. The 2025 impairment primarily related to the disposal of the group's remaining Molyhil tenements and the write-down of exploration licences EL30821, EL28948 and EL24392. Looking ahead, the company says it believes it is well positioned as an early mover in the natural hydrogen and helium sector, with a fully funded seismic programme underway at HY-Range and a maiden drill decision now firmly in sight. Thor says it is strengthening its position in natural hydrogen and helium through follow-up projects, while its retained interests in EnviroCopper Ltd's recovery copper projects and other energy metals assets, including Alford East, provide further opportunities beyond its core strategy.
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