Friday is usually the least busy day of the week for company results but this week seems to have generated a larger than normal number of companies issuing trading updates.
Stanley Gibbons’s profits in 2012 rose by 11% on an adjusted basis to £6mln, driven by growing internet sales, Chinese demand for rare stamps and an 80% jump in coins and military medal profits.
Revenues overall during the year dropped slightly to £35.6mln, but Gibbons (LON:SGI) said the profit improvement reflected increased focus on higher margin sales.
Avidly followed US Oil & Gas's (GXG:USOP) annual results showed the group was sitting on cash of around US$3.5mln at the period end.
Unsurprisingly for a company in the exploration phase, it was loss-making – to the tune of US$1.22mln post-tax.
Investors are keenly awaiting the results of testing of the highly prospective Eblana 1 well in Nevada.
In financial results covering the twelve months to December 31, he said the company had delivered a strong financial, commercial and operational performance.
Gas sales revenues from production in Italy increased significantly to €16.3mln from €4.7mln, and profits rose to €4.1mln from a €1.8mln loss in the year before.
In the firm’s results statement, for the twelve months to December 31 2012, Howell highlighted that prior to agreeing farm-out deals for its assets in Morocco and Australia, Tangiers had less than US$1mln in cash, and imminent obligations in excess of US$70mln.
But, as a result of the separate farm-out deals, Tangiers expects to have US$14mln in the bank and it will be fully funded for all its exploration commitments until the end of next year.
It also retains significant interests in the two projects, with a 25% interest in the Moroccan assets, and a 27% stake in the Australian project.
Churchill Mining’s (LON:CHL) interim results updated investors on its ongoing claim against the Republic of Indonesia through international arbitration, and repeated that this is currently the firm's main focus.
"Considerable efforts have been undertaken to reduce other administration and corporate overheads," Churchill said, adding that other than admin costs, arbitrations against the ROI are the only draw on Churchill's cash resources.
For the six months to December 31 last year, Churchill posted a loss before tax of US$4.5mln, compared to a loss of US$ 6.4mln in the same period a year earlier.
The news comes after a new government system was implemented; Amur said that it has now been confirmed that approvals from the Ministry of Defence and Federal Security Service are in hand.
The report from the Federal Antimonopoly Service has also been received, it added.
Pelham Investments has acquired over 236 million shares in the firm at 3 pence a share, a slight discount to last night's closing price of 3.20p, and now holds 19.6%.
It bought the shares from Renaissance Financial Holdings, previously the largest shareholder in the mining firm.
Regent recently ploughed £7mln into Condor through the first two tranches of an optional three-tranche share subscription but opted not to invest £3mln on the final tranche.
It has obtained 250 kilometres of 3D data, the results of which will be incorporated in analysis being carried out by partner Azimuth.
Independently, Azimuth is considering the additional exploration potential of the block, Enegi said.
SRK, the independent geologist, confirmed it expects a significant portion of the Inferred resource will be upgraded to the Indicated category following the results.
The deflection hole, SM11A, intersected 41.6 metres (m) of 86% polyhalite in three seams separated by two anhydrite bands with a combined intersected thickness of 15.6m.
The preliminary results also showed a strong correlation between the original hole SM11 and SM11A.