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The following is a round-up of updates and earnings by London-listed companies, issued on Tuesday and not separately reported by Alliance News: ---------- Zenith Energy Ltd - Calgary, Canada-based oil company with interests in Italy, Tunisia and the US - Generates oil and natural gas revenue in the 12 months to March 31 of C$2.15 million, about £1.2 million, representing a 20% uplift on the C$1.79 million achieved a year earlier. Swings to a pretax profit of C$1.1 million from a C$42.4 million loss, with this supported by gains in its it top line, along with improvements in deletion and deprecation, administrative expenses and other gains and losses. Depletion and depreciation reduced to C$366,000 from C$3.9 million, while administrative expenses fell 73% to C$6.5 million from C$24.4 million. Other gains and losses swung to a C$1.5 million gain from a C$9.3 million loss the prior financial year. Adds that natural gas sales from its Italian assets rose 16% to 185,080 thousand cubic feet (Mcf) from 159,119 Mcf. ‘The annual audited results for the 2025 FY evidence the continued strength of our Italian electricity production activities,’ says Chief Executive Andrea Cattaneo. ‘As previously announced, we intend to significantly increase our electricity generation activities in Italy by incrementally building and commissioning a solar energy production portfolio, with the first milestone being the achievement of a production output of 20 MWp by the close of 2025.’ ---------- Metals Exploration PLC - Philippines and Nicaragua-focused gold producer, explorer and developer - Reports ‘record-breaking’ second quarter as gold revenue rises 51% to $70.5 million from $46.7 million a year earlier. Sells 23,021 ounces of gold in the second quarter, up 14% from 20,124 oz, with the average realised gold price rising 32% to $3,061 per ounce from $2,320 per ounce. Reports record positive pre-tax cash flow of $47.2 million, up 90% from $24.8 million. Net cash income improves 87% to $48.8 million from $26.2 million. ‘This has been a record-breaking quarter for the company which has seen us take a significant step forward in our strategy to deliver sustainable value from both our producing and development assets. We are pleased to report our record pre-tax cash flow of $47.2 million and record quarterly gold revenue of $70.5 million, underpinned by strong, consistent operational performance at Runruno,’ says CEO Darren Bowden, ‘We look forward to building on this momentum and updating stakeholders as we execute on our strategy in the second half of the year.’ ---------- Worsley Investors Ltd - Guernsey-registered closed-ended, self-managed investment firm - Net asset value per share falls 20% to 34.62 pence at March 31 from 43.45p a year earlier. Reports NAV total return of minus 20.3% for the year to March 31, and a share price total return of 12.1%, with the FTSE All Share Index gaining 10.5% over the period. Discount narrows to 19.7% at March 31 from 42.9% a year earlier, as share price improves 12% to 27.8p from 24.8p. ‘After a good first half to the year, the second half was much less so and our NAV per share as reported in these financial statements fell by 20.32% over the year as a whole. The reversal over the second half of 12.49p or 26.51% per Worsley Investors share was predominantly the result of a major reduction in the carrying value of the group’s cinema at Curno, Italy,’ said Chair William Scott. ---------- Mila Resources PLC - London-based mining company with exploration sites in Western Australia - Reports commencement of phase two of its exploration programme at its flagship Yarrol Gold project. This is a part of its Queensland Gold & Copper portfolio in central Queensland, Australia. Says it has commissioned a ground magnetics contractor, with a survey to begin in the coming weeks regarding the prospective southern extension of the H1 2025 drill area. ‘Our phase one exploration programme at Yarrol exceeded our expectations and we are now excited to be commencing phase two, which aims to further unlock the 20 kilometre Yarrol Fault. We have only worked on [around] 2km area to date and this has confirmed strong continuity and high-grade zones. Accordingly, we are confident that our targeted exploration approach will continue to prove the scale and quality of the system and establish Yarrol as a significant new gold discovery,’ says Executive Director Mark Stephenson. ---------- Scancell Holdings PLC - Oxford-based pharmaceutical firm - Reports further positive data from its ongoing phase two Scope trial of SCIB1/iSCIB1+ Immunobody DNA immunotherapies in combination with checkpoint inhibitors in patients with advanced, unresectable melanoma. Melanoma is a type of skin cancer. Says the data shows a potential new benchmark for these patients in terms of efficacy, durability, immune response and safety. Notes the overall response rate for iSCIB1+ was 69% for target HLA type patients, with this representing 80% of total patients. This compares to 48%-50% with the standard of care. Adds that 12-month progression free survival ‘markedly improved’, exceeding standard of care by 20%. Says iSCIB1+ Immunobody selected for future development, with planning for registrational phase 2b/3 global study accelerated. ‘iSCIB1+ has shown meaningful benefits in terms of responses, disease control, progression-free survival and immune responses, which offer a potentially huge improvement for patients. Furthermore, its strong safety profile suggests that iSCIB1+ could be used in addition to SoC without adding toxicities,’ says Chief Medical Officer Nermeen Varawalla. ---------- Thor Explorations Ltd - Vancouver, Canada-based mining company, focused on west Africa - Reports initial drilling results from maiden drilling programme at its Guitry Gold project in the Ivory Coast. Says completed 3,000 metre reverse circulation drilling programme. Results include drillhole GURC25-208 which returned 14 metres from surface averaging 2.59 grams of gold per tonne. ‘This is a great start to our drilling activities in Cote d’Ivoire. The Guitry Project has scope to grow from here and we continue to target our maiden resource in the country by the end of this year,’ says CEO Segun Lawson. ‘We look forward to receiving the remaining assay results and are excited to return later this quarter following the rainy season to continue the next phase of drilling and also to kick off our maiden drilling program on our Marahui Project where we have been advancing exploration through the course of the year.’ ---------- Alien Metals Ltd - Australia-focused minerals explorer and developer - Reports significant silver assays from fieldwork at Elizabeth Hill project in the Pilbara region of Western Australia. Says silver assays of up to 490 grams per tonne returned from float and rock chip sampling, with multiple samples returning elevated copper and gold. Notes the identification of silver-rich float samples up to around 500 metres north and around 200 metres south of the historic Elizabeth Hill high-grade silver mine, indicating potential for new mineralised zones. ‘These latest assay results continue to validate the outstanding exploration potential at Elizabeth Hill. The scale and tenor of the silver mineralisation identified in areas away from the historic mine suggest the possibility of multiple new mineralised systems within the broader project area,’ says Technical Director Robert Mosig. ---------- Copyright 2025 Alliance News Ltd. All Rights Reserved.
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