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Horizonte Minerals PLC - nickel company focused on Brazil - Swings to interim profit as gain on foreign exchange surges. Pretax profit in the half-year ended June 30 stands at $3.8 million versus a loss of $3.2 million a year prior. Gain on foreign exchange more than quadruples to $9.4 million from $2.2 million. Administrative expenses widen to $6.7 million from $3.7 million. However, posts pretax loss of $670,946 in the quarter to June 30, narrowed from $1.9 million a year ago. Posts no revenue. Says outlook for its operations remains positive, but sees continued risk from the Covid pandemic. Further, firm closes a $633 million funding package to build the Araguaia nickel project in the northern Brazil state of Para.
Pays no dividend, unchanged from a year ago.
Current stock price: 103.00 pence, down 1.0% on Monday
12-month change: down 36%
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