3 Companies Rising on News for Monday 13th March 2023
Episode 1256, Mar 13, 2023, 11:34 AM
1. Condor Gold #CNR - Condor Gold Provides an Update on Sale of Assets
On 22 November 2022, Condor Gold announced that following a robust and economically attractive Bankable Feasibility Study, also known as a Feasibility Study, on the La India open pit, it appointed H&P Advisory Limited to seek a buyer for the assets of the Company.
The sales process is now entering the end of its first phase with various parties having conducted site visits and others ongoing. Three formal expressions of interest including 2 non-binding offers (subject to further due diligence) have been received by the Company and further offers are expected as nine companies are under a Non-Disclosure Agreement (NDA).
2. Tern #TERN - Wyld Networks SEK 9.2 million Purchase Order
Following an earlier order for Wyld Connect modules in 2022, Wyld Networks today announces an additional order for
Swedish Krona SEK 9.2 million (approximately £0.7 million) for the Wyld Data service from a South African company deploying soil moisture sensors to optimize irrigation and automate scheduling systems for agriculture.
Tern currently holds 40.2% of Wyld Networks' equity.
3. Nightcap #NGHT - Interim Results
Revenue growth of 48.7% to £23.5 million.
Like-for-like 10.1% increase for H1 FY2023 against equivalent period in FY2019, however, a 5.8% like-for-like*decrease occurred in H1 FY2023 against H1 FY2022, largely due to the ongoing rail strikes.
Adjusted EBITDA increased by 25% to £2.0 million, despite significant rail strikes held across the UK. Management estimates that the 13 rail strike days over the period have cost the Company approximately £1.2 million in EBITDA.
As at 1 January 2023, the Group's net debt was £4.1 million with £0.75 million of the Group's total bank debt scheduled for repayment during FY2023.
On 22 November 2022, Condor Gold announced that following a robust and economically attractive Bankable Feasibility Study, also known as a Feasibility Study, on the La India open pit, it appointed H&P Advisory Limited to seek a buyer for the assets of the Company.
The sales process is now entering the end of its first phase with various parties having conducted site visits and others ongoing. Three formal expressions of interest including 2 non-binding offers (subject to further due diligence) have been received by the Company and further offers are expected as nine companies are under a Non-Disclosure Agreement (NDA).
2. Tern #TERN - Wyld Networks SEK 9.2 million Purchase Order
Following an earlier order for Wyld Connect modules in 2022, Wyld Networks today announces an additional order for
Swedish Krona SEK 9.2 million (approximately £0.7 million) for the Wyld Data service from a South African company deploying soil moisture sensors to optimize irrigation and automate scheduling systems for agriculture.
Tern currently holds 40.2% of Wyld Networks' equity.
3. Nightcap #NGHT - Interim Results
Revenue growth of 48.7% to £23.5 million.
Like-for-like 10.1% increase for H1 FY2023 against equivalent period in FY2019, however, a 5.8% like-for-like*decrease occurred in H1 FY2023 against H1 FY2022, largely due to the ongoing rail strikes.
Adjusted EBITDA increased by 25% to £2.0 million, despite significant rail strikes held across the UK. Management estimates that the 13 rail strike days over the period have cost the Company approximately £1.2 million in EBITDA.
As at 1 January 2023, the Group's net debt was £4.1 million with £0.75 million of the Group's total bank debt scheduled for repayment during FY2023.