(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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BATM Advanced Communications Ltd - Israel-based data and telecommunication products provider - Says its Edgility virtual networking solution has been selected by e-Qual, a managed service provider based in France, for the management and orchestration of its service provision to its enterprise customers globally. The contract has a minimum period of five years.
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Synectics PLC - Sheffield-based security systems services company - Secures two major new casino projects in North America. Working with local integration partner, Zuvid Surveillance Systems, Synectics says it will provide new surveillance management systems based on its Synergy software platform for Fallsview Casino Resort in Canada. Delivery will commence before the end of 2021, with a five-year support contract already agreed, following completion in early 2022.
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Syncona Ltd - London-based investment trust focussed on healthcare - Commits USD30.0 million to Clade Therapeutics in a USD87 million series A financing. Syncona's holding value in Clade is GBP11.2 million following the investment of the first tranche of the series A commitment and, at the point all current commitments are invested, Syncona will have 23% stake in the business.
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SulNOx Group PLC - London-based supplier of fuel additives - Confirms that the US unit of Bureau Veritas, a provider of testing, inspection, and certification services, has certified that both US automotive gasoline/petrol and US diesel fuel with SulNOx's SulnoxEco fuel conditioner added at the recommended levels, continues to comply with the US ASTM specifications.
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Fox Marble Holdings PLC - London-based quarrying, stone processing and dimension stone marketing company - Signs a joint venture agreement with Al Bab Al Mumtaz Group in the United Arab Emirates. Under the agreement, it is anticipated that Fox Marble will supply Al Bab Al Mumtaz Group with marble tiles and slabs processed in its factory in Kosovo, for sale via its range of outlets in the region. The arrangement is expected to generate revenue in the region of AED2 million, about GBP399,147, in its first year of operation of 2022 and AED4 million in 2023.
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Empire Metals Ltd - London-based exploration and resource development company - Reports the results of the recently completed reverse circulation drilling programme at the Central Menzies gold project in western Australia, over which it holds an option to acquire a 75% interest. The company says 2,379 metres of drilling has been completed, focusing on the two mineralised trends known as Teglio and Nugget Patch. "Current thinking is that we have encountered a supergene enrichment zone and that a higher-grade target may persist beneath and further to the southwest. This find certainly warrants additional drilling to determine if a higher-grade mineralised lode follows this near surface trend," says Managing Director Shaun Bunn.
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Mkango Resources Ltd - Vancouver, Canada-based mineral exploration and development company - Increases its interest in HyProMag to almost 42% from 25%. This follows the exercise by HyProMag of its right to convert into shares the GBP200,000 loan which formed part of the GBP500,000 financing package completed in January 2020.
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Empyrean Energy PLC - Australian oil & gas explorer and producer - Makes operational progress towards spudding the LH 17-2-1 exploration well at the Jade prospect on block 29/11, offshore China in December. In the event of a commercial discovery, Empyrean's partner, CNOOC, has a back in right to a 51% participating interest in the development and production phase.
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Caracal Gold PLC - London-based mining company - Completes the connection to Kenya's national grid power operations at its producing Kilimapesa gold mining & processing operations in Kenya. "As well as providing major cost savings to our gold mining operations, the switch to the national grid delivers significant associated environmental benefits given Kenya's use of renewable energy, most of which comes from geothermal, hydro, and wind," says Chief Executive Robbie McCrae.
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Mosman Oil & Gas Ltd - New South Wales, Australia-based exploration, development and production company - Says Stanley-5 well in Polk County, East Texas, has been drilled to the target depth, logged and cased. Several Yegua sands from 4,200-4,800 feet have been identified as oil bearing from logs and sidewall cores. "This fifth successful well at Stanley is the next step to building on our delivery against the strategic objective to increase production," says Chair John Barr.
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Asiamet Resources Ltd - White Rock, Canada-based exploration and development company - Says PT Delta Dunia Makmur Tbk, an Indonesian mining services company, will earn a 51% interest Asiamet's wholly-owned subsidiary Indokal Ltd by contributing USD50 million towards the BKM copper mine development, located in Kalimantan, Indonesia. "We are confident PT Delta Dunia as a strategic partner brings the necessary technical, commercial capability and experience to support Asiamet in meeting its objectives for the development of both the BKM copper project and its broader business," says Asiamet Executive Chair Tony Manini.
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Kodal Minerals PLC - London-based lithium focussed development and exploration company - Buys the minority shareholdings from vendors of Bougouni project. These acquisition results in Kodal having 100% interest in all concessions of the Bougouni lithium project with the concessions all held in the name of Kodal's Malian subsidiary companies. Kodal says each vendor will receive a cash payment of USD600,000 and a net smelter return royalty for production attributed to each vendor's relevant concessions of 0.6%. The acquisition of the minority interests allows the Company to further explore development and financing opportunities as the 100% owner, it says.
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Altus Strategies PLC - Didcot, England-based mining royalty company - Reports the intersection of high grades from diamond drilling at Diba gold project in western Mali. "A near-surface intersection of 21.9 grams per tonne over 10.2 metres represents an outstanding start to the current drilling campaign at Diba," says Chief Executive Steven Poulton. "We look forward to updating shareholders on the results of this programme when they are received."
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By Evelina Grecenko; evelinagrecenko@alliancenews.com
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