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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Bank of Cyprus Holdings PLC - Strovolos, Cyprus-headquartered financial services firm - Reports total income of EUR136 million in first quarter of 2020, down from EUR145 million a year prior. Swings to pretax profit of EUR19 million from EUR18 million loss. Says the full-year outlook remains uncertain, hinging on the recovery of the tourism industry. "The first quarter of the year has again been a period characterised by on-going pandemic-related disruption. Despite the significant progress made both within Cyprus and globally with the vaccine roll-out programme, the day-to-day operating environment continues to be challenging, and the first quarter saw restrictions remaining in place within Cyprus. As such, our priority during the period has continued to be focused on providing support to our customers, colleagues and community. Although the pace of economic recovery in Cyprus temporarily slowed in the first quarter as result of the restrictions, we have continued to support the country's return to growth, extending EUR487 million of new loans in the period, the strongest quarter in new lending since the pandemic struck a year ago," the bank says. Notes shareholder dissent at AGM, where 42% of shareholders voted against director Maksim Goldman re-election.
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88 Energy Ltd - oil exploration and production in the US state of Alaska - Sees "encouraging" evidence of oil in down hole samples at its operations on the North Slope of Alaska. Sees additional fluorescence recorded at previously unidentified depths. Says further investigation is required to validate the percentage of hydrocarbon in the samples. "The ratios of hydrocarbon indicate that the liquid present is highly likely to be oil rather than condensate, which also bodes well from a thermal maturity perspective regionally. These horizons had previously been deemed to contain mostly water and this remains a possibility. Regardless of the final percentages of hydrocarbon vs water in these samples, which will be known in the coming weeks, the presence of oil is highly encouraging particularly given that the two most prospective horizons were not able to be sampled due to operational issues," says company.
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Sativa Wellness Group Inc - Vancouver, British Columbia-based 'seed-to-consumer' cannabidiol products - Reports gross profit of GBP707,000 in the first quarter of the year, up sharply from GBP212,000 a year prior. Adjusted earnings before interest, tax, depreciation and amortisation loss reduced to GBP404,000 from GBP807,000. Loss per share down to 0.30 pence from 0.82 pence. Revenue jumps to GBP1.4 million from around GBP350,000. "These numbers and announcements are very satisfying and are a result of the changes made on my return. The direction of travel is clear. We have a new team and a clear focus on revenue growth. Q2 has started very strongly," say Chair Geremy Thomas.
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Online Blockchain PLC - Ongar, England-based blockchain research and development company - Expands operations with new officer in "fintech hub" Gibraltar. "Gibraltar offers a progressive regulatory environment and has gained a reputation as one of the world's leading administrations for welcoming and fostering innovation and fintech businesses. This makes it especially attractive for companies operating within the blockchain and cryptocurrency sector," says company.
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Bango PLC - Cambridge, England-based e-commerce platform - Says it is powering the first three Telcos to offer bundled Xbox cloud gaming subscriptions in Europe. "These launches are a result of the expanded partnership between Bango and Microsoft, announced in November 2020, to open-up consumer access to Xbox subscriptions sales through Telco partners," says company.
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TruSpine Technologies PLC - medical device company - Says it has raised an additional GBP78,000 through the subscription of 780,000 new ordinary shares. Says this brings the total proceeds from this capital raise to GBP698,500, following its announcements in April.
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Tufton Oceanic Assets Ltd - London-based maritime assets investor - Agrees to acquire a chemical tanker for USD9.8 million and a handysize bulk carrier for USD13.4 million. This is part of the company's capital re-allocation efforts, which are "increasingly relevant given absolute and relative movements across and within the main shipping markets" since the third quarter of last year. Says it continues to dentify an attractive pipeline of opportunities.
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MGC Pharmaceuticals Ltd - Perth, Australia-based medicinal cannabis company - Sasys its major clinical trial program for 2021 continues to progress, including imminent commencement of CimetrA phase 3 and CannEpilO phase 2b trials. Says an application has also been submitted to the Brazilian regulatory agency to add an additional eight clinical sites to the CimetrA phase 3 trial. The first patients are expected to be enrolled in June for the CimetrA trial, and September for the CannEpilO trial. "All of our clinical trials are progressing well despite the various hurdles we are facing due to the current global situation. These trials ensure MGC Pharma and our product offering realise their full medical and commercial potential as we focus on creating new and effective treatments for conditions and diseases that currently have no treatment options," says company.
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Dispersion Holdings PLC - investment company specialising in decentralised finance - Announces maiden equity investment of EUR250,000 into SportsX SAS, a technology and services platform for amateur sports clubs around the world. The investment is being made as part of a EUR985,000 private equity fund-raising by SportsX, which is incorporated in France, and will give Dispersion a 25% interest in the business.
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Touchstone Exploration Inc - onshore projects in Trinidad & Tobago - Says tests confirm substantial gas discovery at Cascadura Deep-1 well at Ortoire onshore exploration block in Trinidad. Says buildup test data showed no depletion with a final bottom-hole pressure. "I am pleased to report that the downhole gauges recovered from Cascadura Deep-1 have provided excellent data, and the information has increased our confidence in the substantial size of the pool's reserves and its potential deliverability. The data is consistent with the previous testing performed at Cascadura-1ST1, and we are encouraged by the lack of any boundary limits observed on the reservoir," says company.
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Gaming Realms PLC - London-based mobile games developer - Granted interactive gaming manufacturer licence in US state Pennsylvania by the Pennsylvania Gaming Control Board. Says this mark its third US state licence and its continuing US market expansion. "We are delighted to have been granted our licence in Pennsylvania, where iGaming revenues grew by nearly 600% in 2020. We are now licenced in the three largest states for iGaming, and look forward to more states regulating in the future," says company.
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Integrated Diagnostics Holdings PLC - consumer healthcare firm with operations in Egypt, Jordan, Sudan and Nigeria - Gets USD45 million financing package from International Finance Corp to expand access to "high-quality diagnostic services across new and existing markets".
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Argo Blockchain PLC - cryptocurrency mining company - Joins North American Bitcoin miners to promote energy usage transparency and accelerate sustainability initiatives worldwide and to form a Bitcoin Mining Council. "Today is a good day for the planet. Sustainability has always been at the heart of Argo's mining operations and the newly-formed Bitcoin Mining Council is the next logical step in fostering a sectoral shift towards renewable energy," says company.
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Chariot Oil & Gas Ltd - Africa-focused transition energy company - Says bookbuild has closed and it has raised proceeds of USD16.5 million via the placing and subscription of 212.6 million shares at 5.5 pence each. Says the proceeds are to go to Anchois gas development in Morocco and general working capital purposes.
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Red Rock Resources PLC - gold explorer in Kenya and Australia, copper-cobalt in DRC - Sees further progress at the company's 80% owned Luanshimba license in the Democratic Republic of Congo, which contains copper and cobalt targets. Says the programme is designed to penetrate below the normal water table and detect any supergene enrichment. "In June we expect to encounter suitable ground conditions and achieve good drilling recoveries. The results from the geochemical and geophysical work we have carried out, and our interpretation of structure, mean that we approach this drilling with high expectations," says company.
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Love Hemp Group PLC - cannabidiol products maker - Announces a subscription to raise a minimum of GBP2.0 million at a price of 3.5 pence per share. Says proceeds will be used for administrative purposes as well as to support the company's marketing efforts. Says it saw a record day of sales last Thursday, netting GBP86,400 in total.
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Shanta Gold Ltd - New Luika and Singida projects in Tanzania and West Kenya project in Kenya - Reports high grade drilling results at West Kenya project in Kenya. "These new intercepts verify the current model and can be linked with other high-grade intercepts nearby, indicating that exceptionally high-grade shoots should be present not only below the 400 m depth, as previously thought, but also at the higher levels of the deposit," says Shanta.
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ADM Energy PLC - UK-based natural resources investing company - Announce that it has commissioned energy consultancy Xodus Group Ltd to produce an updated competent person's report on the Barracuda Field in Nigeria. Says the independent report will provide a full technical and economic review of the Barracuda Field, assessing the latest data to define the asset's geological profile and estimated gross in-place and recoverable oil and gas volumes from oil and gas accumulations. Says the new CPR is the "springboard" for the company's plans to develop the Barracuda Field and take the asset into production.
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Chaarat Gold Holdings Ltd - mine in Armenia and development assets in Kyrgyz Republic - Confirms robust economics for the development of an open-pit mining heap leach operation at Tulkubash oxide gold project in Kyrgyz Republic. "Chaarat is in the process of commencing exploration works for the 2021 season and is in continued discussions to complete the financing package which the company expects could be affected by the current events in the mining sector in the country. Resumption of full construction activity will be dependent on the timing to complete project financing. Delays due to the longer than expected Covid-19 movement restrictions and political situation during 2020 and early 2021 as well as the expected timeline on project financing have resulted in expected first gold from Tulkubash being now targeted for H2 2023," says Chaarat.
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Alien Metals Ltd - iron ore and silver projects in Australia and Mexico - Says phase 2 drilling commences on Hancock Licence, Hamersley iron ore project in the Pilbara region of Western Australia.
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Beowulf Mining PLC - exploration and development of gold, copper, lead-zinc-silver and graphite with projects in Finland, Sweden and Kosovo - Notes results of mineral resource estimate upgrade at Kallak iron ore project in Sweden. Notes an additional 19 million tonnes of iron ore equating to a 12.5% increase in the resource. "I am delighted with the results of this upgraded mineral resource estimate and the doubling of the exploration target, which clearly demonstrate the potential for a mine at Kallak to supply high-quality iron ore over several decades for fossil-free steel production in Sweden," says company.
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Altus Strategies PLC - Africa-focused mining royalty company - Says drilling commences at Diba gold project in western Mali. "We are aggressively advancing exploration of the Company's 100% owned Diba gold project in western Mali, with the commencement of a major RC and AC drilling campaign. Our field team is undertaking a high resolution ground magnetic survey, which has covered 48 kilometers squared of the licence to date. This survey has generated numerous structural targets across the licence, including at Diba NW, located 800 meters northwest of the Diba deposit, and at Diba Far East, located 7km east of the Diba deposit," says company.
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Silence Therapeutics PLC - novel RNA therapeutics developer with offices in London and Berlin - Receives remaining USD40.0 million from biopharmaceutical company AstraZeneca PLC as part of AstraZeneca's investment for the siRNA collaboration.
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Marwyn Value Investors Ltd - investment company managed by Marwyn Investment Management LLP - Notes Zegona Communications PLC's intention to return GBP335 million to shareholders. Says it supports Zegona's decision. Holds 14% stake in Zegon. Says it will net GBP64.4 million from the capital return.
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Ariana Resources PLC - exploration and development company operating in Europe - Updates on proposed reduction of share capital via a cancellation of the company's share premium account, the cancellation of the deferred shares, and the authority for the company to buy back shares. Says it continues to work with its legal advisors and is advancing court proceedings as planned. Says it has been notified that court dates have now been fixed for early and late June and will provide an update to the market, including detail of the company's future dividend policy, in early July.
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MaxCyte Inc - platform technologies provider for cell engineering - Signs a strategic platform licence with Celularity Inc, a clinical-stage biotechnology company, to advance Celularity's off-the-shelf allogeneic cellular therapy product candidates. "Celularity's approach to developing new immunotherapies to treat cancer and other diseases appears very promising. The company is leading the next evolution in cellular medicine by leveraging a novel cell source, and we are very proud the team has selected MaxCyte's technology to help enable this important work," says company.
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Serica Energy PLC - upstream oil & gas company - Says Columbus development in North Sea will need additional operations to be undertaken, which are expected to take around three to four weeks at a net cost to Serica of around GBP3 million. "Whilst frustrating, the additional operations on Columbus are not expected to affect the timing of first production and the economic returns of the project remain very attractive for the company," says Serica.
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Agronomics Ltd - Isle of Man-based alternative proteins company - Says shares available under broker option increased to 13.6 million from 9.1 million. Says increase will allow as many eligible investors as possible on the register on May 10 to be prioritised for participation in the broker option.
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Union Jack Oil PLC - UK onshore oil producer and explorer - Notes operator Rathlin Energy UK Ltd update at West Newton in UK, where Union Jack holds a 17% economic interest in the licence area. Rathlin says that all equipment will be rigged-up at the West Newton B site during the first week of operations, after which completion activities including perforation and well treatment operations will commence. Rathlin says that overall, the duration of the West Newton B-1Z completion and testing operations are expected to take approximately six weeks. "The planned testing programmes at the West Newton B and A sites are the next milestone events in determining the development potential of West Newton. The results to date continue to support the Board's belief that West Newton is a large-scale, conventional onshore hydrocarbon asset with potential offshore-sized reserves and resources in place," says Union Jack.
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Reabold Resources PLC - London-based investor in upstream oil and gas projects - Also noted the progress at West Newton. Reabold holds a 56% economic interest in West Newton via its 59% shareholding in Rathlin Energy UK Ltd.
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Kropz PLC - South Africa-focused plant nutrient feed minerals developer - Says significant progress continues to be made at Elandsfontein in South Africa. Says it remains on track and within the original projected capital budget for commissioning in the fourth quarter of this year. "Earthworks and civil construction are largely complete; the fabrication and erection of structural steel, platework and piping are well advanced, and the first mechanical equipment has been installed," says company.
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Good Energy Group PLC - Wiltshire-based renewable energy supplier - Announces a partial repayment of 70%, or GBP11.5 million of Good Energy Bonds II on June 30, as a result of a strong net cash position and increased capital flexibility from recent transactions. "From the development of generation assets to our strategic shift to energy services, the investment from our bondholders has, and continues to, enable investment in future innovations and services," says company.
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Mortgage Advice Bureau Holdings PLC - Derby-based mortgage intermediary - Says mortgage completions for first quarter of 2021 were GBP5.3 billion, representing an increase of 26% a year ago. "We had a strong start to the year in the first quarter, with considerably improved year on year profitability. This positive momentum has continued into the second quarter and trading continues to be strong. Current trading is in line with the board's expectations," says company.
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Franchise Brands PLC - Macclesfield-based multi-brand franchise business - Sees new record at its B2B division, where in the past two weeks and with easing of lockdown restrictions, lead intake at Metro Rod and Metro Plumb surged to 9,300 jobs, surpassing the previous record reached during the seasonal 2019 pre-Christmas rush by 4.0%. In 2019, Metro Rod and Metro Plumb had completed 187,000 jobs.
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By Greg Roxburgh; gregroxburgh@alliancenews.com
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