(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Conroy Gold & Natural Resources PLC - Dublin-based gold exploration and development company focused on Ireland and Finland - Wins three new prospecting licences in Ireland covering an area of 100 square kilometres. An application for these licences to be transferred to Conroy Gold Longford-Down Ltd, one of the company's joint ventures with Demir Export, is intended, the company adds.
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Pensana PLC - London-based rare earth metal miner - Notes new results from its exploration programme on the Coola licence at the Longonjo rare earth project in Angola. Twenty-two samples from a 4.2 kilometre diameter ring structure at Sulima West, located 50 kilometres from the Coola carbonatite, were all mineralised and returned values of between 0.6% and 10.6% total rare earth oxide, Pensana explains. Exploration Manager Grant Hayward says: "We are extremely encouraged by the initial results from both Coola and Sulima West and are eager for the field season to commence to follow up on these exciting targets. Whilst it is early stage, these are very large structures reporting grades which are in some cases higher than those for Longonjo."
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Bushveld Minerals Ltd - Guernsey-based vanadium producer with assets in South Africa - Updates its mineral resources and ore reserves for the Vametco vanadium mine near Brits in South Africa. The ore reserve as at December 31 is 262,000 tonnes vanadium in magnetite at a grade of 2.02%, down from 267,200 tonnes as at the same time the previous year. The combined inferred and indicated mineral resource is reported at 182.7 million tonnes at an average grade of 1.98% vanadium in magnetite at December 31, with an average magnetite content of 35.0% for 703.9 thousand tonnes of contained vanadium compared to 709.8 thousand tonnes at the same time the previous year.
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GreenRoc Mining PLC - London-based company focused on the development of mineral projects in Greenland - Appoints BioApp Greenland and Niras AS to carry out an Environmental Impact Assessment and a Social Impact Assessment, respectively, at its Thule Black Sands Ilmenite project in north-west Greenland.
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Nexus Infrastructure PLC - Essex, England-based infrastructure services provider - Completes sale and leaseback of its head office building, Nexus Park. The proceeds of GBP13.5 million will be used to clear its existing bank debt totalling GBP10.8 million, with the remaining GBP2.7 million being used to enhance its cash reserves, the company explains. Nexus also enters into a 20-year lease for Nexus park.
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Induction Healthcare Group PLC - London-based virtual care platform - Says four national health service trusts in London have partnered partner with Induction to support long-term outpatient care transformation through its Induction Zesty platform. The combined contracts have terms ranging between 2 and 9 years and will result in total revenue GBP3.6 million. Induction describes Zesty as a "digital front door for hospitals" that allows patients to "take control" of their appointments, correspondence and consultations.
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Empyrean Energy PLC - Subiaco, Australia-based oil and gas development company with interests in China, Indonesia and the US - Provides an update on drill preparations of the 100% owned Jade prospect, offshore China. Says two onshore bases have been setup for helicopter to rig transfers. Says various drilling services, including drilling fluid, cement, log tools, shipping vessels, are now ready. Company expects rig mobilisation and operations to anchor the rig to commence on April 6.
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Oxford Nanopore Technologies PLC - Oxford-based company developing and selling nanopore sequencing products - Expands use of nanopore sequencing in cancer. Says its Oxford nanopore technology will be used by Genomics England to investigate and validate the benefits of sequencing for improving patient care and advancing research to develop new treatments. Following this, the next phase will focus in more depth and at larger scale on haemato-oncology, sarcoma and brain tumours.
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Infrastructure India PLC - Isle of Man-based closed-ended investment company focused on assets in India - Extends the long stop date in relation to the sale of the assets of its wholly-owned subsidiary, Indian Energy Mauritius Ltd. The assets are two special purpose vehicles, Teni and Gadag. The long stop dates for the sales of Theni and Gadag were March 15 but they have now been extended to April 4 and May 15, respectively.
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Schroder UK Public Private Trust PLC - London-based investment company focused on UK companies - Completes the sale of its holding in investment management firm Seedrs Ltd for GBP12 million.
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Clean Power Hydrogen PLC - Doncaster, England-based developer and manufacturer of green hydrogen technologies - Wins order from AFCryo, a New Zealand-based manufacturer of composite cryostats and cryogenic cooling systems, for the sale of a 1MW MFE220 electrolyser unit. The unit is expected to be delivered in early 2023. This is the second 1MW electrolyser unit that AFCryo has purchased within 18 months, Clean Power Hydrogen explains. Both of these electrolysers will be used as part of the decarbonisation of New Zealand's heavy transport fleet, the company adds.
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Saietta Group PLC - Bicester, England-based engineering company specialising in electric vehicles - Establishes an electric vehicle motor production facility in Sunderland, England through its agreements with ZF Automotive UK Ltd. Saietta intends to use the factory to manufacture its heavy commercial vehicle drivetrains. Company says the facility will have the capacity to produce 100,000 units a year. Additionally, Saietta buys four motor production lines and an electronic circuit board production line for a total of GBP1.1 million.
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National Milk Records PLC - Chippenham, England-based agricultural technology information services provider - Wins new contract with Genus PLC, an animal breeding and biotechnology company based in Hampshire, England. National Milk will act as the partner for Genus's multi-panel genomic testing and evaluations for its bovine female genomic testing requirements for the UK market.
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Future Metals NL - Perth-based platinum exploration company - Provides further assay results from resource definition drilling at its Panton PGM project in Western Australia. The three definition holes all confirm that mineralisation extends to widths over 50 metres along the 3.5 kilometre strike. Drill hole PS402 returned an unconstrained bulk intersection of 150.8 metres at 1.18 grams per tonne of palladium equivalent from 8 metres down hole. Says an updated mineral resource estimate remains on track for the second quarter of 2022.
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CleanTech Lithium PLC - Jersey-based lithium exploration and development company focused on Chile - Says resource drilling at its two project, Laguna Verde and Francisco Basin, are progressing well. Drilling confirms presence of sub-surface brine aquifers at both projects. Resource estimates for both are expected in the second quarter of 2022, the company adds.
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Ebiquity PLC - London-based media and marketing consultancy - Completes acquisition of media audit specialist Media Management LLC. On March 30, Ebiquity proposed the acquisition for a price of GBP6.1 million with a deferred consideration payable in 2025.
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Velocys PLC - Oxford-based sustainable fuel technology company - Says it is moving into 2022 with a "clear focus" on executing its commercial strategy. Expects to complete interim engineering work at its biorefinery project in Mississippi during the first quarter of the year. Full completion is expected in summer. Company anticipating US and UK government policy support for long-term revenue stability for biorefineries. Announces potential sale of its undeveloped Ashtabula site in Ohio, US.
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Power Metal Resources PLC - London-based metals exploration company focused in North America, Africa and Australia - Announces results from its first drilling programme at the Tati project in Botswana. Says the drill programme was completed safely and on-budget. Intersects near surface gold mineralisation, including shallow depth reserve circulation drilling results of up to 5.17 grams per tonne of gold over 3 metres from 9 metres downhole.
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Eckoh PLC - Hertfordshire, England-based secure payment provider - Expects full year results to be in line with expectations of GBP32.1 million in revenue and GBP4.9 million in adjusted operating profit. Adds that the integration of Syntec, the payment solutions provider acquired in December, is progressing well. Syntec's contribution to revenue and profit in the three months since acquisition are expected to be consistent with previous projections.
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Distribution Finance Capital Holdings PLC- Manchester-based bank providing personal savings products and working capital to dealers and manufacturers - Notes "significant" momentum in new lending in the first quarter of 2022. Says the pace and strength of dealer sales seen the previous year has continued into 2022, with average stock turn running at 105 days against a historical average of 150 days. Adds loan book has grown 20% since year-end. Delivery dates for some assets, particularly across the transportation sector, have continued to drift, the company explains, and outbreaks of Covid-19 in China and the conflict in Ukraine are expected to delay product deliveries to dealers until later in the year. As a result, company expects loan book growth to slow. For 2022, Distribution expects between a loss of GBP2 million and breakeven.
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Likewise Group PLC - Solihull, England-based floor coverings distributor - Says trading in the first three months of 2022 is ahead of internal budgets. Consequently, Likewise says it is "confident" in meeting market expectations for 2022. Company continuing to develop its logistics infrastructure.
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Yamana Gold Inc - Toronto-based mine operator focused on Canada, Chile, Brazil and Argentina - Notes positive initial drill results at its El Penon mine in Chile. Says the results have opened up a "significant" new near-mine area for exploration with the potential for adding primary and secondary veins. At the Odyssey in Canada, infill drill holes at East Gouldie further demonstrate the continuity and "robustness" of the known mineralization, Yamana adds. At Wasamac, also in Canada, infill drill results demonstrate a "wide, robust" mineralized zone, with exploration continuing to support the company's plan for an annual production of 200,000 ounces and a mine life of at least fifteen years.
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HydrogenOne Capital Growth PLC - London-based hydrogen investment fund managed by HydrogenOne Capital LLP - Announces a placing of an unspecified amount of shares at a price of 100 pence per share. Company says this represents a premium to its net asset value per share at March 31. The placing is being conducted by an accelerated bookbuilding process.
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Burford Capital Ltd - London-based asset management firm - Says its management team, including its chief executive officer, chief investment officer and chief financial officer, have invested USD3 million in Burdford's stock since March 31. All five executives used their cash compensation to make the investments, which occurred through the Burford employee deferred compensation plan. With this investment, CEO Bogart and CIO Molot control almost 9% of Burford shares.
Separately, Burford announces a private offering of USD350 million senior notes due 2030 by its wholly-owned subsidiary Burdford Capital Global Finance LLC.
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Zoo Digital Group PLC - Sheffield, England-based cloud software-based subtitling, dubbing and meida localisation services provider - Launches Zoo Denmark as the latest step in the company's global growth initiative. Company says the new Copenhagen-based facility will become a hub for localisation services and dubbing.
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By Heather Rydings; heatherrydings@alliancenews.com
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