Results round-up

The AIM-traded firm posted operating expenses as increasing to £6.4m from £5.7m as a result of continuing investment in infrastructure, technology development and sales capacity.

Headcount increased to 127 at 30 September, from 125 a year earlier.

It posted an operating loss of £3.7m, widening from £0.4m, with a total loss for the period of £2.8m, swinging from a profit of £0.5m in the first half of 2015.

Basic losses per share were 5.7p, compared to basic earnings per share of 1.0p.

Cash balances stood at £1.4m on 30 September, down from £5.8m a year ago, though they subsequently increased to £2.6m at 30 November.

Approximately £5.0m more was to be raised via a convertible loan note instrument and subscription shares, however.

“The reduction in revenues in the first half of the financial year should not mask the scale of the market opportunity which we are positioned to exploit,” said an upbeat chairman and chief executive Richard Parris.

Aurum Mining’s interim losses narrowed as the gold and tungsten explorer transforms into a new company focused on the “digital resilience sector”.

The company has recruited a board with “knowledge of the digital environment, encompassing data security, cybercrime and cyberterrorism” as it intends to change its name to Shearwater Group.

During the period the company raised funds to contribute to any future acquisition in the digital resilience market.

The AIM-listed miner reported a loss of £62,000 for the six months ended 31 September compared to a loss of £89,000 last year.

The loss includes £34,000 to reflect the value of the company's shareholding in Plymouth Minerals which it received when it sold a majority stake in the Morille tungsten project in 2013.

The company raised £150,000 through the issue of two tranches of a convertible loan and also raised £25,000 in July and £245,000 from a share placing in October.

Chairman David Williams suggested that the company might retain a stake in its Spanish gold mining assets when it sells them.