The occasion of environmental and life science group, DeepVerge’s (DVRG) audited financial results for the year ended 31 December 2020 continues to underline the way that its CEO Gerard Brandon is a man on a mission. The Group performed better than expected with its first EBITDA profitable quarter in Q4, 2020, before costs of Modern Water acquisition. An added plus was the way that revenues for the year exceeded the Company guided number by 10%, derived from higher revenues per client and expansion into new areas via ramped up capacity. In terms of post year end highlights, FY 2021 revenue guidance remains at £10m with £3.6m already received in Modern Water Q1 orders. Group staff numbers are set to expand to meet demand with 57 at 29 June 2021 compared to 43 at year end.
Wishbone Gold (WSBN) unveiled its annual financial report, after what has been a transformational year for the precious metals and gold trading and exploration company. The highlight here has arguably been one of the more recent RNS’s, where the Wishbone property in Queensland was recently compared to the 5m oz Ravenswood gold mine by Dr Simon Beams of Terra Search Australia at the annual AusIMM conference in June 2021. The company said that the net effect of restructuring and capital raises has been to leave the Company in a strong financial position to complete its planned exploration programs and with cash to pursue additional expansion.
Cadence Minerals (KDNC) announced its final results for the year ended 31 December 2020. In this RNS the CEO Kiran Morzaria said Cadence has continued to pursue its strategic objectives which bore fruit with the Company delivering both a net profit of £7.8 million (2019 loss of £1.9 million) and reporting considerable progress across its key investments. Those who dislike the concept of such finance will be reassured to know the company repaid the vast majority of its outstanding convertible debt last year, and in April 2021 repaid it entirely.
The stock market responded well to the latest from Hurricane Energy (HUR), as it has done for much of the recent past, even though boardroom bust-ups and corporate shenanigans do not normally see punters on the right side of their respective bank balances. The Surrey based oil and gas company said proposals to elect Chief Executive Officer Antony Maris and Chief Financial Officer Richard Chaffe each passed, while the chair and four non-executive directors of the company resigned earlier on Wednesday, after a court rejected the firm's restructuring plan. Given that the stock was up by around a third it would appear that investors were enjoying the spectacle.
Sustainable energy projects group, Simec Atlantis (SAE) announced its final results for the year ended 31 December 2020. Overall Group losses for the year were £19.4 million (2019: £35.4 million). The improvement was due to the revenue generated by the ATES division while the previous year’s loss was primarily down to a £16.1 million non-cash disposal. The revenue jump to £12.2m in 2020 from £4.9 million in 2019 was a sign that the tide here may be turning going forward in a significant way given that it was off the back of increased turbine sales.
Despite recent wobbles in the digital assets space, it has turned out to be another bumper year for KR1 (KR1), a significant investor in this area. It said it has grown net assets on the balance sheet substantially to £37,866,475 at the year end (2019: £7,473,823), and has strengthened the company’s staking revenue stream with multiple ‘Proof-of-Stake’ enabled assets, in particular Polkadot. KR1 also said it has invested in many world class teams building decentralised projects some of whom have already come to market. It added that the emerging digital asset ecosystem remains an investment opportunity, both as a new financial system being built out and decentralised technologies forming the base layer for a new and better internet.