Golconda Gold Ltd. Releases Financial and Operating Results for 2024
TORONTO, April 30, 2025 (GLOBE NEWSWIRE) -- Golconda Gold Ltd. ('Golconda Gold' or the 'Company') (TSX-V: GG; OTCQB: GGGOF) is pleased to announce the release of its financial results for the year ended December 31, 2024. All amounts are in United States dollars unless otherwise indicated.
A copy of the audited consolidated financial statements for the year ended December 31, 2024, prepared in accordance with International Financial Reporting Standards, and the corresponding management's discussion and analysis ('MD&A') are available under the Company's profile on www.sedarplus.ca.
2024 Highlights
For the year ended December 31, 2024, the Company:
mined 87,695 tonnes of ore, from its Galaxy and Princeton ore bodies, with an average grade of 3.18 grammes per tonne (g/t) compared to 63,386 tonnes at 3.30 g/t in the year ended December 31, 2023, a 38% increase in ore tonnes mined;
produced 6,661 tonnes of concentrate at an average grade of 36.0 g/t containing 7,712 ounces of gold compared to 5,146 tonnes at 38.3 g/t containing 6,339 ounces of gold in the year ended December 31, 2023, a 22% increase in gold production;
generated revenue of $13.8 million from the sale of 7,652 contained ounces (6,049 payable ounces) of gold at an operating cash cost of $1,721 per payable ounce compared to revenue of $9.4 million for the year ended December 31, 2023 at an operating cash cost of $1,596 per payable ounce(1); and
comparing the second half of 2024 with the first half of 2024, ore mined was 91% higher, waste development was 95% higher and gold produced was 49% higher.
Golconda Gold CEO, Ravi Sood commented: '2024 was a year of two halves for Golconda, with the significant improvements seen in operating and financial performance at Galaxy in the second half setting us on the path to sustainable production growth into the future. We are enjoying the benefits of record gold prices and are well positioned to further capitalise on our production growth in 2025 and beyond.(2)'
About Golconda Gold
Golconda Gold is an un-hedged gold producer and explorer with mining operations and exploration tenements in South Africa and New Mexico. Golconda Gold is a public company and its shares are quoted on the TSX Venture Exchange under the symbol 'GG' and the OTCQB under the symbol 'GGGOF'. Golconda Gold's management team is comprised of senior mining professionals with extensive experience in managing mining and processing operations and large-scale exploration programmes. Golconda Gold is committed to operating at world-class standards, focused on the safety of its employees, respecting the environment, and contributing to the communities in which it operates.
Notes:
(1) Cash cost is a non-GAAP measure. Refer to the table below and to 'Supplemental Information to the MD&A' for reconciliation to measure reported in the Company's financial statements.
FY 2024
Operating costs (US$)
11,950,037
Adjust for:
Depreciation and depletion
(1,110,559)
Inventory movement
(47,841)
Total operating cash cost
10,791,637
Royalties
(285,382)
Total operating cash cost excluding royalties
10,506,255
Gold production (contained ozs)
7,712
Gold production (payable ozs)
6,103
Total operating cash cost excluding royalties per payable oz
1,721
(2) This is forward-looking information and is based on a number of assumptions. See 'Cautionary Notes'.
Cautionary Notes
Certain statements contained in this press release constitute 'forward-looking statements'. All statements other than statements of historical fact contained in this press release, including, without limitation, those statements regarding the Company's ability to capitalize on production growth in 2025 and beyond, and the Company's future financial position and results of operations, strategy, proposed acquisitions, plans, objectives, goals and targets, and any statements preceded by, followed by or that include the words 'believe', 'expect', 'aim', 'intend', 'plan', 'continue', 'will', 'may', 'would', 'anticipate', 'estimate', 'forecast', 'predict', 'project', 'seek', 'should' or similar expressions or the negative thereof, are forward-looking statements. These statements are not historical facts but instead represent only the Company's expectations, estimates and projections regarding future events. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict. Therefore, actual results may differ materially from what is expressed, implied or forecasted in such forward-looking statements.
Additional factors that could cause actual results, performance or achievements to differ materially include, but are not limited to the risk factors discussed in the MD&A. Management provides forward-looking statements because it believes they provide useful information to investors when considering their investment objectives and cautions investors not to place undue reliance on forward-looking information. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. These forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update or revise them to reflect subsequent information, events or circumstances or otherwise, except as required by law.
Information of a technical and scientific nature that forms the basis of the disclosure in the press release has been approved by Kevin Crossling Pr. Sci. Nat., MAusIMM. Geological Consultant for Golconda Gold, and a 'qualified person' as defined by National Instrument 43-101. Mr. Crossling has verified the technical and scientific data disclosed herein and has conducted appropriate verification on the underlying data.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information please contact:Ravi SoodCEO, Golconda Gold Ltd.+1 (647) 987-7663ravi@golcondagold.comwww.golcondagold.comSign in to access your portfolio
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A live webcast of the conference call will be accessible on the Investor Relations section of Comtech's website at Alternatively, investors can access the conference call by dialing (800) 225-9448 (primary) or (203) 518-9708 (alternate) and using the conference I.D. of "Comtech." A replay will be available through Monday, June 23, 2025, by dialing (800) 934-2123 or (402) 220-1137. About Comtech Comtech Telecommunications Corp. is a leading provider of satellite and space communications technologies; terrestrial and wireless network solutions; Next Generation 911 ("NG-911") and emergency services; and cloud native capabilities to commercial and government customers around the world. Through its culture of innovation and employee empowerment, Comtech leverages its global presence and decades of technology leadership and experience to create some of the world's most innovative solutions for mission-critical communications. For more information, please visit Cautionary Note Regarding Forward-Looking Statements Certain information in this press release contains, and oral statements made by the Company's representatives from time to time may contain, forward-looking statements. Forward-looking statements can be identified by words such as: "anticipate," "believe," "continue," "could," "estimate," "expect," "future," "goal," "outlook," "intend," "likely," "may," "plan," "potential," "predict," "project," "seek," "should," "strategy," "target," "will," "would," and similar references to future periods. Forward-looking statements include, among others, statements regarding expectations for its strategic alternatives process, expectations for further portfolio-shaping opportunities, expectations for other operational initiatives, the intended use of proceeds from the Credit Facility and Amended Subordinated Credit Facility, expectations for completing further financing initiatives, future performance and financial condition, plans to address its ability to continue as a going concern, the plans and objectives of management and assumptions regarding such future performance, financial condition, and plans and objectives that involve certain significant known and unknown risks and uncertainties and other factors not under its control which may cause actual results, future performance and financial condition, and achievement of plans and objectives of management to be materially different from the results, performance or other expectations implied by these forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by which, such performance or results will be achieved. Forward-looking information is based on information available at the time and/or the Company's good faith belief with respect to future events, and is subject to risks and uncertainties that are difficult to predict and many of which are outside of the Company's control. Factors that could cause actual results to differ materially from current expectations include, among other things: the outcome and effectiveness of the aforementioned strategic alternatives process, further portfolio-shaping opportunities, other operational initiatives, and the completion of further financing activities; its ability to access capital and liquidity so that the Company is able to continue as a going concern; its ability to implement changes in executive leadership; the possibility that the expected synergies and benefits from strategic activities will not be fully realized, or will not be realized within the anticipated time periods; the risk that acquired businesses will not be integrated successfully; impacts from, and uncertainties regarding, future actions that may be taken by activist stockholders; the possibility of disruption from acquisitions or dispositions, making it more difficult to maintain business and operational relationships or retain key personnel; the risk that the Company will be unsuccessful in implementing a tactical shift in its Satellite and Space Communications segment away from bidding on large commodity service contracts and toward pursuing contracts for niche products and solutions with higher margins; the nature and timing of receipt of, and performance on, new or existing orders that can cause significant fluctuations in net sales and operating results; the timing and funding of government contracts; adjustments to gross profits on long-term contracts; risks associated with international sales; rapid technological change; evolving industry standards; new product announcements and enhancements; changing customer demands and/or procurement strategies and ability to scale opportunities and deliver solutions to current and prospective customers; changes and uncertainty in prevailing economic and political conditions (including financial and capital market conditions), including as a result of Russia's military incursion into Ukraine, the Israel-Hamas war and attacks in the Red Sea region or any tariff, trade restrictions or similar matters; changes in the price of oil in global markets; changes in prevailing interest rates and foreign currency exchange rates; risks associated with legal proceedings, customer claims for indemnification, and other similar matters; risks associated with obligations under its credit facilities; risks associated with large contracts; risks associated with supply chain disruptions; and other factors described in this and other Company filings with the Securities and Exchange Commission. However, the risks described above are not the only risks that the Company faces. Additional risks and uncertainties, not currently known to the Company or that do not currently appear to be material, may also materially adversely affect its business, financial condition and/or operating results in the future. The Company describe risks and uncertainties that could cause actual results and events to differ materially in the "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Quantitative and Qualitative Disclosures about Market Risk" sections of its SEC filings. The Company does not intend to update or revise publicly any forward-looking statements, whether because of new information, future events, or otherwise, except as required by law. Appendix: Condensed Consolidated Statements of Operations (Unaudited) Condensed Consolidated Balance Sheets (Unaudited) Use of Non-GAAP Financial Measures COMTECH TELECOMMUNICATIONS CORP. AND SUBSIDIARIES Consolidated Statements of Operations (Unaudited) (Unaudited) Three months ended April 30, Nine months ended April 30, 2025 2024 2025 2024 Net sales $ 126,787,000 128,076,000 $ 369,161,000 414,212,000 Cost of sales 87,842,000 89,122,000 281,960,000 284,178,000 Gross profit 38,945,000 38,954,000 87,201,000 130,034,000 Expenses: Selling, general and administrative 30,203,000 28,697,000 115,679,000 91,699,000 Research and development 4,425,000 5,746,000 12,492,000 20,401,000 Amortization of intangibles 5,044,000 5,289,000 16,680,000 15,866,000 Impairment of long-lived assets, including goodwill — — 79,555,000 — Proxy solicitation costs — — 2,682,000 — CEO transition costs 805,000 2,492,000 1,072,000 2,492,000 Loss (gain) on business divestiture, net — 200,000 — (2,013,000 ) 40,477,000 42,424,000 228,160,000 128,445,000 Operating (loss) income (1,532,000 ) (3,470,000 ) (140,959,000 ) 1,589,000 Other expenses (income): Interest expense 12,907,000 5,146,000 33,447,000 15,343,000 Interest (income) and other (509,000 ) 409,000 — 1,246,000 Write-off of deferred financing costs and debt discounts 3,479,000 — 4,891,000 — Change in fair value of warrants and derivatives (49,542,000 ) (6,439,000 ) (15,450,000 ) (6,439,000 ) Income (loss) before (benefit from) provision for income taxes 32,133,000 (2,586,000 ) (163,847,000 ) (8,561,000 ) (Benefit from) provision for income taxes (1,801,000 ) (5,381,000 ) (635,000 ) 639,000 Net income (loss) $ 33,934,000 2,795,000 $ (163,212,000 ) (9,200,000 ) Gain (loss) on extinguishment of convertible preferred stock — — 51,179,000 (13,640,000 ) Adjustments to reflect redemption value of convertible preferred stock: Convertible preferred stock issuance costs — (76,000 ) — (4,349,000 ) Dividends on convertible preferred stock (48,405,000 ) (3,759,000 ) (80,656,000 ) (7,643,000 ) Net loss attributable to common stockholders $ (14,471,000 ) (1,040,000 ) $ (192,689,000 ) (34,832,000 ) Net loss per common share: Basic $ (0.49 ) (0.04 ) $ (6.56 ) (1.21 ) Diluted $ (0.49 ) (0.04 ) $ (6.56 ) (1.21 ) Weighted average number of common shares outstanding – basic 29,399,000 28,854,000 29,395,000 28,753,000 Weighted average number of common and common equivalent shares outstanding – diluted 29,399,000 28,854,000 29,395,000 28,753,000 COMTECH TELECOMMUNICATIONS CORP. AND SUBSIDIARIES Consolidated Balance Sheets (Unaudited) April 30, 2025 July 31, 2024 Assets Current assets: Cash and cash equivalents $ 28,434,000 32,433,000 Accounts receivable, net 151,472,000 195,595,000 Inventories, net 77,691,000 93,136,000 Prepaid expenses and other current assets 17,063,000 15,387,000 Total current assets 274,660,000 336,551,000 Property, plant and equipment, net 44,462,000 47,328,000 Operating lease right-of-use assets, net 31,177,000 31,590,000 Goodwill 204,625,000 284,180,000 Intangibles with finite lives, net 178,148,000 194,828,000 Deferred financing costs, net 1,850,000 3,251,000 Other assets, net 16,222,000 14,706,000 Total assets $ 751,144,000 912,434,000 Liabilities, Convertible Preferred Stock and Stockholders' Equity Current liabilities: Accounts payable $ 27,188,000 42,477,000 Accrued expenses and other current liabilities 59,162,000 62,245,000 Current portion of credit facility, net 148,882,000 4,050,000 Current portion of subordinated credit facility, net 65,471,000 — Operating lease liabilities, current 7,589,000 7,869,000 Contract liabilities 64,386,000 65,834,000 Interest payable 5,000 1,072,000 Total current liabilities 372,683,000 183,547,000 Non-current portion of credit facility, net — 173,527,000 Operating lease liabilities, non-current 29,581,000 30,258,000 Income taxes payable, non-current 1,866,000 2,231,000 Deferred tax liability, net 5,763,000 6,193,000 Long-term contract liabilities 20,186,000 21,035,000 Warrant and derivative liabilities 31,564,000 5,254,000 Other liabilities 3,996,000 4,060,000 Total liabilities 465,639,000 426,105,000 Commitments and contingencies Convertible preferred stock, par value $0.10 per share; authorized and issued 178,181 shares at April 30, 2025 (redemption value of $199,661,000 which includes accrued dividends of $1,486,000) and authorized and issued 171,827 shares at July 31, 2024 (redemption value of $180,076,000, which includes accrued dividends of $1,341,000) 170,072,000 180,076,000 Stockholders' equity: Preferred stock, par value $0.10 per share; authorized and unissued 1,821,819 and 1,828,173 shares at April 30, 2025 and July 31, 2024, respectively — — Common stock, par value $0.10 per share; authorized 100,000,000 shares; issued 44,395,660 and 43,766,109 shares at April 30, 2025 and July 31, 2024, respectively 4,440,000 4,377,000 Additional paid-in capital 567,647,000 640,145,000 Retained (deficit) earnings (14,805,000 ) 103,580,000 557,282,000 748,102,000 Less: Treasury stock, at cost (15,033,317 shares at April 30, 2025 and July 31, 2024) (441,849,000 ) (441,849,000 ) Total stockholders' equity 115,433,000 306,253,000 Total liabilities, convertible preferred stock and stockholders' equity $ 751,144,000 912,434,000 Use of Non-GAAP Financial Measures To provide investors with additional information regarding the Company's financial results, this release contains "Non-GAAP financial measures" under the rules of the SEC. The Company's Adjusted EBITDA is a Non-GAAP measure that represents earnings (loss) before interest, income taxes, depreciation, amortization of intangibles, impairment of long-lived assets, including goodwill, amortization of cost to fulfill assets, amortization of stock-based compensation, CEO transition costs, change in fair value of warrants and derivatives, proxy solicitation costs, restructuring costs (non-inventory related), strategic emerging technology costs (for next-generation satellite technology), and write-off of deferred financing costs and debt discounts, and in the recent past, acquisition plan expenses, change in fair value of the convertible preferred stock purchase option liability, COVID-19 related costs, facility exit costs, strategic alternatives expenses and other and loss on business divestiture. These items, while periodically affecting its results, may vary significantly from period to period and may have a disproportionate effect in a given period, thereby affecting the comparability of results. Although closely aligned, the Company's definition of Adjusted EBITDA is different than EBITDA (as such term is defined in its Credit Facility) utilized for financial covenant calculations and also may differ from the definition of EBITDA or Adjusted EBITDA used by other companies and therefore may not be comparable to similarly titled measures used by other companies. Adjusted EBITDA is also a measure frequently requested by its investors and analysts. The Company believes that investors and analysts may use Adjusted EBITDA, along with other information contained in its SEC filings, including GAAP measures, in assessing performance and comparability of results with other companies. Non-GAAP measures reflect the GAAP measures as reported, adjusted for certain items as described herein and also excludes the effects of the Company's outstanding convertible preferred stock. These Non-GAAP financial measures have limitations as an analytical tool as they exclude the financial impact of transactions necessary to conduct its business, such as the granting of equity compensation awards, and are not intended to be an alternative to financial measures prepared in accordance with GAAP. These measures are adjusted as described in the reconciliation of GAAP to Non-GAAP measures in the tables presented herein, but these adjustments should not be construed as an inference that all of these adjustments or costs are unusual, infrequent or non-recurring. Non-GAAP financial measures should be considered in addition to, and not as a substitute for or superior to, financial measures determined in accordance with GAAP. Investors are advised to carefully review the GAAP financial results that are disclosed in the Company's SEC filings. As the Company has not provided future financial targets, there is no need to reconcile its business outlook to the most directly comparable GAAP measures. Furthermore, even if targets had been provided, items such as stock-based compensation, adjustments to the provision for income taxes, amortization of intangibles and interest expense, which are specific items that impact these measures, have not yet occurred, are out of the Company's control, or cannot be predicted. For example, quantification of stock-based compensation expense requires inputs such as the number of shares granted and market price that are not currently ascertainable. Accordingly, reconciliations to the Non-GAAP forward looking metrics would not be available without unreasonable effort and such unavailable reconciling items could significantly impact the Company's financial results. Three months ended April 30, Nine months ended April 30, Fiscal Year 2025 2024 2025 2024 2024 Reconciliation of GAAP Net Loss to Adjusted EBITDA: Net income (loss) $ 33,934,000 $ 2,795,000 $ (163,212,000 ) $ (9,200,000 ) $ (99,985,000 ) (Benefit from) provision for income taxes (1,801,000 ) (5,381,000 ) (635,000 ) 639,000 (295,000 ) Interest expense 12,907,000 5,146,000 33,447,000 15,343,000 22,153,000 Interest (income) and other (509,000 ) 409,000 — 1,246,000 678,000 Write-off of deferred financing costs and debt discounts 3,479,000 — 4,891,000 — 1,832,000 Change in fair value of warrants and derivatives (49,542,000 ) (6,439,000 ) (15,450,000 ) (6,439,000 ) (4,273,000 ) Amortization of stock-based compensation 1,195,000 404,000 2,520,000 5,238,000 6,096,000 Amortization of intangibles 5,044,000 5,289,000 16,680,000 15,866,000 21,154,000 Depreciation 2,726,000 3,121,000 8,400,000 9,073,000 12,159,000 Impairment of long-lived assets, including goodwill — — 79,555,000 — 64,525,000 Amortization of cost to fulfill assets — 240,000 261,000 720,000 960,000 Restructuring costs (non-inventory related) 4,338,000 2,755,000 14,222,000 9,197,000 12,470,000 Strategic emerging technology costs — 880,000 280,000 3,228,000 4,110,000 Proxy solicitation costs — — 2,682,000 — — CEO transition costs 805,000 2,492,000 1,072,000 2,492,000 2,916,000 Loss (gain) on business divestiture, net — 200,000 — (2,013,000 ) 1,199,000 Adjusted EBITDA $ 12,576,000 $ 11,911,000 $ (15,287,000 ) $ 45,390,000 $ 45,699,000 Reconciliations of GAAP consolidated operating income (loss), net income (loss) attributable to common stockholders and net income (loss) per diluted common share to the corresponding Non-GAAP measures are shown in the tables below (numbers and per share amounts in the tables may not foot due to rounding). Non-GAAP net income (loss) attributable to common stockholders and Non-GAAP net income (loss) per diluted common share reflect Non-GAAP provisions for income taxes based on year-to-date results, as adjusted for the Non-GAAP reconciling items included in the tables below. The Company evaluates its Non-GAAP effective income tax rate on an ongoing basis, and it can change from time to time. The Company's Non-GAAP effective income tax rate can differ materially from its GAAP effective income tax rate. April 30, 2025 Three months ended Nine months ended Operating(Loss)Income Net LossAttributableto CommonStockholders Net LossperDilutedCommonShare* OperatingLoss Net LossAttributableto CommonStockholders Net LossperDilutedCommonShare* Reconciliation of GAAP to Non-GAAP Earnings: GAAP measures, as reported $ (1,532,000 ) $ (14,471,000 ) $ (0.49 ) $ (140,959,000 ) $ (192,689,000 ) $ (6.56 ) Adjustments to reflect redemption value of convertible preferred stock — 48,405,000 1.65 — 80,656,000 2.74 Change in fair value of warrants and derivatives — (49,542,000 ) (1.68 ) — (15,450,000 ) (0.53 ) Gain on extinguishment of convertible preferred stock — — — — (51,179,000 ) (1.74 ) Impairment of long-lived assets, including goodwill — — — 79,555,000 79,555,000 2.71 Amortization of intangibles 5,044,000 4,807,000 0.16 16,680,000 15,968,000 0.54 Restructuring costs (non-inventory related) 4,338,000 4,061,000 0.14 14,222,000 13,582,000 0.46 Proxy solicitation costs — — — 2,682,000 2,523,000 0.09 Amortization of stock-based compensation 1,195,000 1,195,000 0.04 2,520,000 2,401,000 0.08 CEO transition costs 805,000 749,000 0.02 1,072,000 1,041,000 0.04 Strategic emerging technology costs — — — 280,000 266,000 0.01 Amortization of cost to fulfill assets — — — 261,000 261,000 0.01 Net discrete tax benefit — (442,000 ) (0.02 ) — (374,000 ) (0.01 ) Non-GAAP measures $ 9,850,000 $ (5,238,000 ) $ (0.18 ) $ (23,687,000 ) $ (63,439,000 ) $ (2.16 ) April 30, 2024 Three months ended Nine months ended Operating(Loss)Income Net (Loss)IncomeAttributableto CommonStockholders Net (Loss)IncomeperDilutedCommonShare* OperatingIncome Net (Loss)IncomeAttributableto CommonStockholders Net (Loss)IncomeperDilutedCommonShare* Reconciliation of GAAP to Non-GAAP Earnings: GAAP measures, as reported $ (3,470,000 ) $ (1,040,000 ) $ (0.04 ) $ 1,589,000 $ (34,832,000 ) $ (1.21 ) Loss on extinguishment of convertible preferred stock — — — — 13,640,000 0.47 Adjustments to reflect redemption value of convertible preferred stock — 3,835,000 0.13 — 11,992,000 0.41 Change in fair value of warrants and derivatives — (6,439,000 ) (0.22 ) — (6,439,000 ) (0.22 ) Amortization of intangibles 5,289,000 4,098,000 0.14 15,866,000 12,292,000 0.42 Restructuring costs 2,755,000 2,121,000 0.07 9,197,000 7,075,000 0.24 Amortization of stock-based compensation 404,000 323,000 0.01 5,238,000 4,089,000 0.14 Strategic emerging technology costs 880,000 678,000 0.02 3,228,000 2,486,000 0.09 CEO transition costs 2,492,000 1,919,000 0.07 2,492,000 1,919,000 0.07 Amortization of cost to fulfill assets 240,000 240,000 0.01 720,000 720,000 0.02 Loss (gain) on business divestiture, net 200,000 200,000 0.01 (2,013,000 ) (1,247,000 ) (0.04 ) Net discrete tax (benefit) expense — (229,000 ) (0.01 ) — 768,000 0.03 Non-GAAP measures $ 8,790,000 $ 5,706,000 $ 0.20 $ 36,317,000 $ 12,463,000 $ 0.43 Fiscal Year 2024 Operating(Loss)Income Net (Loss)IncomeAttributable toCommonStockholders Net (Loss)Incomeper DilutedCommonShare* Reconciliation of GAAP to Non-GAAP Earnings: GAAP measures, as reported $ (79,890,000 ) $ (135,440,000 ) $ (4.70 ) Loss on extinguishment of convertible preferred stock — 19,555,000 0.68 Adjustments to reflect redemption value of convertible preferred stock — 15,900,000 0.55 Change in fair value of warrants and derivatives — (4,273,000 ) (0.15 ) Impairment of long-lived assets, including goodwill 64,525,000 63,800,000 2.21 Amortization of intangibles 21,154,000 16,389,000 0.57 Restructuring costs 12,470,000 9,736,000 0.34 Amortization of stock-based compensation 6,096,000 4,797,000 0.17 Strategic emerging technology costs 4,110,000 3,795,000 0.13 CEO transition costs 2,916,000 2,245,000 0.08 Loss on business divestiture 1,199,000 1,199,000 0.04 Amortization of cost to fulfill assets 960,000 960,000 0.03 Net discrete tax expense — 4,136,000 0.14 Non-GAAP measures $ 33,540,000 $ 2,799,000 $ 0.10 * Per share amounts may not foot due to rounding. In addition, due to the GAAP net loss for the period, Non-GAAP EPS for the three and nine months ended April 30, 2024 and fiscal 2024 was computed using weighted average diluted shares outstanding of 28,936,000, 28,948,000 and 29,132,000, during the respective period. ECMTL View source version on Contacts Investor Relations Contact Maria Media Contacts Jamie Longacre Square Partnerscomtech@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Nyanzaga Gold Project Technical Report
Perth, June 10, 2025 (GLOBE NEWSWIRE) -- PERSEUS RELEASES TECHNICAL REPORT FOR THE NYANZAGA GOLD PROJECT Perth, Western Australia/June 10, 2025/ Perseus Mining Limited (ASX/TSX: PRU) is pleased to announce the release of the Technical Report for its Nyanzaga Gold Project (NGP) in Tanzania. The Technical Report, with an effective date of April 28, 2025, was prepared in compliance with Canadian Securities Administrators' National Instrument 43-101 and is available on and The Report summarises the results of the updated Feasibility Study to demonstrate the technical and economic viability of the NGP and supports a decision to advance to development. Please refer to News Release dated April 28, 2025 'Perseus Mining proceeds with development of the Nyanzaga Gold Project' for a summary of the material information contained in the Nyanzaga Technical Report. This announcement was approved for release by the Managing Director & CEO, Jeff Quartermaine. ASX/TSX CODE: PRUCAPITAL STRUCTURE:Ordinary shares: 1,362,221,512Performance rights: 10,056,681REGISTERED OFFICE:Level 2437 Roberts RoadSubiaco WA 6008Telephone: +61 8 6144 DIRECTORS:Rick MenellNon-Executive ChairmanJeff QuartermaineManaging Director & CEO Amber BanfieldNon-Executive DirectorElissa CorneliusNon-Executive DirectorDan LougherNon-Executive DirectorJohn McGloinNon-Executive Director CONTACTS:Jeff QuartermaineManaging Director & FormanInvestor Relations+61 484 036 RyanMedia Relations+61 420 582
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Middle Eastern Penny Stocks: A.V.O.D Kurutulmus Gida ve Tarim Ürünleri Sanayi Ticaret Anonim Sirketi And Two Promising Contenders
As Middle Eastern markets experience a positive trend, with UAE shares rising in anticipation of the US-China trade talks, investors are keenly watching for opportunities that align with this optimistic outlook. In such a landscape, penny stocks—often smaller or newer companies—remain an intriguing investment area despite being considered somewhat niche today. These stocks can offer affordability and growth potential, especially when backed by strong financials; let's explore three noteworthy examples from the region. Name Share Price Market Cap Financial Health Rating Terminal X Online (TASE:TRX) ₪4.362 ₪555.01M ★★★★★★ Menara Ventures Xl - Limited Partnership (TASE:MNRA) ₪2.719 ₪12.49M ★★★★★★ Thob Al Aseel (SASE:4012) SAR4.02 SAR1.6B ★★★★★★ Alarum Technologies (TASE:ALAR) ₪3.47 ₪197.56M ★★★★★★ E7 Group PJSC (ADX:E7) AED1.12 AED2.24B ★★★★★★ Katmerciler Arac Üstü Ekipman Sanayi ve Ticaret (IBSE:KATMR) TRY1.79 TRY1.93B ★★★★★☆ Dubai National Insurance & Reinsurance (P.S.C.) (DFM:DNIR) AED3.13 AED375.38M ★★★★★★ Dubai Investments PJSC (DFM:DIC) AED2.41 AED10.33B ★★★★☆☆ Sharjah Cement and Industrial Development (PJSC) (ADX:SCIDC) AED0.736 AED447.67M ★★★★★★ Tgi Infrastructures (TASE:TGI) ₪2.258 ₪174.26M ★★★★★★ Click here to see the full list of 94 stocks from our Middle Eastern Penny Stocks screener. Underneath we present a selection of stocks filtered out by our screen. Simply Wall St Financial Health Rating: ★★★★★☆ Overview: A.V.O.D Kurutulmus Gida ve Tarim Ürünleri Sanayi Ticaret Anonim Sirketi operates in Turkey, offering dried vegetables and vegetable-based convenience foods under the Farmer's Choice brand, with a market cap of TRY734.40 million. Operations: The company generates revenue primarily from its food activities, totaling TRY1.39 billion. Market Cap: TRY734.4M A.V.O.D Kurutulmus Gida ve Tarim Ürünleri Sanayi Ticaret Anonim Sirketi, with a market cap of TRY734.40 million, has faced challenges as it remains unprofitable despite generating TRY1.39 billion in revenue primarily from food activities. The company's net loss for Q1 2025 was TRY57.91 million, an improvement from the previous year's loss of TRY100.61 million for the same period. While its short-term assets cover both short and long-term liabilities, A.V.O.D's high net debt to equity ratio of 53.1% indicates financial leverage concerns, though it benefits from a stable cash runway exceeding three years due to positive free cash flow. Click to explore a detailed breakdown of our findings in A.V.O.D Kurutulmus Gida ve Tarim Ürünleri Sanayi Ticaret Anonim Sirketi's financial health report. Gain insights into A.V.O.D Kurutulmus Gida ve Tarim Ürünleri Sanayi Ticaret Anonim Sirketi's past trends and performance with our report on the company's historical track record. Simply Wall St Financial Health Rating: ★★★★☆☆ Overview: Ihlas Yayin Holding A.S. operates in Turkey through its subsidiaries, focusing on media, publishing, and advertising businesses, with a market cap of TRY963 million. Operations: The company generates revenue from three main segments: Journalism and Printing Works (TRY1.75 billion), News Agencies (TRY375.78 million), and TV Services and Other (TRY290.22 million). Market Cap: TRY963M Ihlas Yayin Holding A.S. has a market cap of TRY963 million and operates through media, publishing, and advertising segments. Despite generating significant revenue from journalism (TRY1.75 billion), news agencies (TRY375.78 million), and TV services (TRY290.22 million), the company remains unprofitable with a negative return on equity of -5.95%. Its short-term assets exceed short-term liabilities, but long-term liabilities are not fully covered by these assets. The company's debt to equity ratio has significantly improved over five years to 0.8%, yet it faces challenges with less than a year of cash runway if cash flow trends continue. Get an in-depth perspective on Ihlas Yayin Holding's performance by reading our balance sheet health report here. Review our historical performance report to gain insights into Ihlas Yayin Holding's track record. Simply Wall St Financial Health Rating: ★★★★★☆ Overview: Metro Ticari ve Mali Yatirimlar Holding A.S. operates as a diversified investment holding company with a market capitalization of TRY1.39 billion. Operations: No specific revenue segments are reported for this diversified investment holding company. Market Cap: TRY1.39B Metro Ticari ve Mali Yatirimlar Holding A.S. has a market cap of TRY1.39 billion and operates as a diversified investment holding company, yet it remains pre-revenue with less than US$1 million in revenue. The company is currently unprofitable, with losses increasing at 53.2% annually over the past five years, and reported a net loss of TRY33.55 million for Q1 2025 compared to a net income the previous year. Despite being debt-free and having sufficient cash runway for over three years based on current free cash flow, its long-term liabilities exceed short-term assets by TRY174.8 million, posing financial challenges ahead. Click here to discover the nuances of Metro Ticari ve Mali Yatirimlar Holding with our detailed analytical financial health report. Explore historical data to track Metro Ticari ve Mali Yatirimlar Holding's performance over time in our past results report. Get an in-depth perspective on all 94 Middle Eastern Penny Stocks by using our screener here. Searching for a Fresh Perspective? Explore 22 top quantum computing companies leading the revolution in next-gen technology and shaping the future with breakthroughs in quantum algorithms, superconducting qubits, and cutting-edge research. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include IBSE:AVOD IBSE:IHYAY and IBSE:METRO. This article was originally published by Simply Wall St. Have feedback on this article? 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