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LONDON - Oscillate PLC (AQSE:MUSH) reported a 37% reduction in losses for the six months ended May 31, 2025, according to a press release issued Friday.
The company posted a loss of £191,468 for the period, compared to a loss of £302,784 during the same period last year. The improved performance was attributed to more profitable revaluations on the company’s investments.
Administrative costs rose to £201,660 from £74,461 in the comparable period. The company maintained a cash position of £1,153,299 as of May 31, 2025, slightly up from £1,060,311 a year earlier.
Oscillate noted significant movement in intercompany debtors due to funding projects in Minnesota and Cote d’Ivoire, with the company expecting to recoup these expenses once the projects begin generating income.
Following the reporting period, Oscillate completed initial fieldwork at its Duekoué site in Cote d’Ivoire on July 2, where mapping, sampling, and trenching activities identified several anomalous zones for laboratory analysis and potential future drilling.
On July 9, the company signed non-binding Heads of Terms with Kalahari Copper Limited to acquire prospecting licenses over Dalsu Prospects in Botswana. The Dalsu licenses include 17 properties in the Kalahari Copper Belt and the Bushman Lineament.
Robin Birchall, Chief Executive Officer of Oscillate, stated that the board "continues to work to source good investments at an attractive price."
The interim results were not audited or reviewed by the company’s auditor.
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