News Formal

Earnings improve, but Renergen’s still running at a loss

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 45 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 63%

Sverige Nyheter Nyheter

Helium producer is in development and exploration phase with Virginia Gas Project

Renergen CEO Stefano Marani at the Tetra4 gas plant in Virginia, the Free State. Picture: FREDDY MAVUNDA

Helium and natural gas producer Renergen expects its headline loss per share to narrow to 17.1c-22.6c for the year to end-February from a loss of 27.73c in 2022.Renergen subsidiary Tetra4 wholly owns the Virginia Gas Project in the Free State, which contains helium concentrations that are among the world’s highest.It sells helium to customers that include Ardagh Group and Italtile.

According to cash-flow statements that it must release as part of Australian listing requirements, Renergen sold R23.4m worth of helium and gas in the 12 months to end-February.It is expected to produce 2,700 gigajoules of liquefied natural gas a day and 350kg of helium when it completes phase one of its development. The group is gearing up for phase two of its development, a more substantial project that is expected to produce at least 24,000GJ at an estimated cost of $800m-$900m.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 12. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Nigeria: Low-Skilled Nigerians in U.S. Boost Earnings By 1,500% - ReportNigerians migrate to Canada, the United States, and other European countries to seek opportunities
Källa: allafrica - 🏆 1. / 99 Läs mer »

Samsung Electronics logs worst quarterly earnings in 14 yearsSamsung Electronics on Thursday reported its worst quarterly profits in 14 years, blaming slowing consumer spending on electronics and a global microchip glut that hit its core memory business.
Källa: eNCA - 🏆 49. / 51 Läs mer »

Meta surges as earnings beat expectations after belt tighteningShares in Facebook parent Meta surged after the internet titan reported it made a profit of $5.7 billion in the first quarter of this year, beating forecasts after a massive wave of cost-cutting and layoffs.
Källa: eNCA - 🏆 49. / 51 Läs mer »

MARKET WRAP: JSE reverses course amid conflicting signalsInvestors are torn between better-than-expected Big Tech earnings and fears of further pain in the US banking sector
Källa: BDliveSA - 🏆 12. / 63 Läs mer »