Amerisur Resources AMER Produced a slightly increased loss after tax at $28.5m in the year to the end of December, following lower oil prices, planned reduction in production and a one off impairment charge of $15.3m. from its investment in Paraguy. Since the year end global oil prices have increased, transport costs have fallen and there has been a significant increase in production from the Platanillo field which is now producing over 4,000 barrels of oil per day and continuing to rise towards its 2017 target of 6 to 7,000 bopd. The company sees a strong outlook for 2017, with production becoming increasingly profitable.
The shares have lost over two thirds of their value since August 2014, falling from 66p to a low of 20p. There has recently been something of a recovery with the price now at 22.17. Whether that will hold on the basis of future promises, rather than on 2016’s past performance remains to be seen.
CEY Centamin First quarter gold production fell, as forecast, at 109,187 ounces, down 20% on the previous quarter and 13% on 2016 Q1. The full year target for 2017 of 540,000 oz. is still expected to be
met.
Plant Health Care PHC US Sales disappointed in the year to the end of December, due to distributors having excess year end inventories. Outside the US sales rose by 15% on a constant currency basis, showing strong progress its key strategic objectives.