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Pin to quick picksBushveld Minerals Share News (BMN)

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EARNINGS AND TRADING: Oxford Metrics revenue up; TPXimpact loss widens

Tue, 05th Dec 2023 18:09

(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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Various Eateries PLC - London-based operator of 18 Coppa Club, Tavolino and Noci restaurants in UK - Confirms that it is in advanced stages of conducting a potential fundraising of up to GBP12 million of shares priced at 25 pence, and a potential debt for equity conversion. Says there can be no guarantee that any transaction will proceed. "The group is well positioned to capitalise on the opportunities that have been presented post Covid, particularly changes in consumer behaviour, and also, both the availability and the commercials of sites. Building upon the success of Coppa Club and Noci, any monies raised from the transaction (less fees) would be used to accelerate growth across the Group with the further rollout of both brands," Various Eateries says.

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Guanajuato Silver Co Ltd - Vancouver, British Columbia-based company that reactivates past producing silver and gold mines in central Mexico, with four operating mines and three processing facilities - Closes a USD7.5 million fold loan credit facility financing with Ocean Partners UK Ltd. The unsecured loan facility is for a term of 36 months, is repayable in equal fixed monthly installments of gold totalling approximately 191 troy ounces per month for a period of 30 months, following a six-month grace period. James Anderson, chair & CEO, says, "Ocean Partners has been our preferred metals trading partner since our first sale of precious metals concentrates back in 2021; they have always been first-in-line to offer support for our strategic initiatives as we continue to grow GSilver into a mid-tier producer of precious metals in Mexico."

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Panther Metals PLC - Canada-focused mineral exploration company - Notes successful conclusion of the inaugural drilling programme, targeting gold, at the Manitou Lakes project in Ontario, Canada. Says geological core logging and sampling to commence this week. "Conducting a maiden drill programme on a gold project as prospective as Manitou Lakes Project is always an exciting time for a junior explorer and its shareholders," says Chief Executive Darren Hazelwood. "Our previous soil sampling delineated a strong gold in soil anomaly at the project's Glass Reef Target, so the visual identification of shear structure-hosted quartz veining in the drill core bodes particularly well for the potential intersection of the gold bearing mineralisation."

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Town Centre Securities PLC - Leeds, England-based property investor, car park and hotel operator - Notes results of tender offer. Raises GBP9.1 million through tender offer of 6.3 million shares priced at 145.0 pence each. Says price represents a premium over the price of ordinary shares of 22% to its closing price of 118.5p on November 7. Tendered shares represents about 13% of the issued share capital.

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Oxford Metrics PLC - Oxford, England-based software provider - Reports results for financial year ended September 30. Revenue jumps 54% to GBP44.2 million from GBP28.8 million a year earlier. Pretax profit rises 67% to GBP5.7 million from GBP3.4 million. Ups dividend by 10% to 2.75p from 2.50p. Says trading in the first months of the financial year has been in line with company expectations. Over half of revenue expectations for the full year is underpinned by orders in hand and a strong sales pipeline, it adds. CEO Imogen Moorhouse says: "With an energised team, a clear roadmap and continued market demand, the board looks forward to the new financial year which is set to see further underlying growth in our existing markets whilst laying the foundations for future growth including the commercialisation of markerless technology."

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TPXimpact Holdings PLC - London-based IT consulting firm - Reports results for the six months ended September 30. Revenue rises by 22% to GBP41.6 million from GBP34.1 million a year earlier. Pretax loss widens to GBP10.1 million from GBP4.3 million. Looking ahead, TPXimpact says it continues to trade in line with targets. Expects to deliver revenue in the range of GBP80 million to GBP85 million and adjusted earnings before interest, tax, depreciation & amortisation in the range of GBP4 million to GBP5 million for the full year.

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Gooch & Housego PLC - Somerset, England-based photonics components and systems manufacturer - Reports results for year ended September 30. Revenue rises 19% to GBP148.5 million from GBP124.8 million a year earlier. Swings to pretax profit of GBP5.0 million from a loss of GBP2.3 million. Total dividend increases by 3.2% to 13.0p from 12.6p. Looking ahead, Gooch says it is "well positioned in structurally growing markets." Adds that it is confident that it will deliver further profitable growth in the coming year. Chief Executive Charlie Peppiatt says: "While mindful of the uncertain macroeconomic and geopolitical landscape, G&H remains well positioned with a robust pipeline across all our end markets and a fully deployed clear new strategy to deliver sustainable profit growth."

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Peel Hunt Ltd - investment bank - Reports results for six months ended September 30. Revenue rises 3.9% year-on-year to GBP42.7 million from GBP41.1 million a year earlier. Swings to pretax loss of GBP800,000 from a pretax profit of GBP100,000. Says swing to loss reflects challenging macroeconomic environment and inflationary increases in costs. "Despite the continued challenging market backdrop, our performance has remained resilient. Revenue for the first six months was in line with expectations, and slightly up on the same period last year. Our performance was not quite enough to offset the high inflationary environment and its impact on costs but our balance sheet remains strong, demonstrating the group's financial resilience," says Chief Executive Steven Fine.

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Gunsynd PLC - London-based company investing in companies and projects within the natural resources, life sciences and beverage sectors - Raises GBP210,000 through issue of 105.0 million new shares price at 0.20 pence each. Says the proceeds of the placing will provide the company with additional funding for general working capital, progressing its activities and making investments in line with its stated investing policy.

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Puma Alpha VCT PLC - London-based venture capital trust - Confirms plans to launch new subscription offer to raise up to GBP12 million, with an over-allotment facility of up to a further GBP5 million.

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EnQuest PLC - London-based oil and gas producer with assets in the UK and Malaysia - Nasdaq Stockholm approves EnQuest application to delist its shares. Says last day of trading of the company shares will be December 19. EnQuest shares will remain listed on the London Stock Exchange.

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Bushveld Minerals Ltd - South Africa-focused vanadium producer and energy storage solutions provider - Raises USD18.4 million through placing and subscription of 486.0 million shares prices a 3 pence each. In addition to the placing and subscription, Bushveld launches retail offer via PrimaryBid to raise up to a further GBP2.0 million

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By Sophie Rose, Alliance News senior reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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23 Apr 2024 15:09

Bushveld updates Vametco mineral resources

(Sharecast News) - Bushveld Minerals updated the market on mineral resources and reserves for the Vametco vanadium mine near Brits on the Western Limb of the Bushveld Complex on Tuesday.

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14 Mar 2024 15:30

IN BRIEF: Bushveld receives USD3.0 million loan from Southern Point

Bushveld Minerals Ltd - vanadium producer operating the Vanchem and Vametco processing facilities in South Africa - Receives a further ZAR56.3 million, around USD3.0 million, from Southern Point Resources Ltd as an interest-free loan. This brings the total paid to Bushveld by the South Africa-focused investment fund to USD12.5 million.

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29 Feb 2024 18:52

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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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16 Feb 2024 10:57

IN BRIEF: Bushveld up after receiving delayed Southern Point payment

Bushveld Minerals Ltd - Vanadium producer operating in South Africa - Receives an additional ZAR76 million, around GBP3.2 million, from Southern Point Resources Ltd, a London-based investment fund. The payment is part of a subscription agreed between the pair in December for GBP9.9 million, which Southern Point was due to transfer to Bushveld's UK bank account. Payments received to date have been sent to a Bushveld subsidiary's bank account, which the company says would result in further funding delays if these were used to satisfy Southern Points obligations under the subscription agreement. Bushveld adds that it lost 11 and 3 days of production in January at its Vanchem and Vametco projects, respectively, as a result of the delayed settlement.

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5 Feb 2024 10:10

Bushveld Minerals suspends guidance, production dips but sales rise

(Alliance News) - Bushveld Minerals Ltd on Monday reported a surge in annual sales despite production falling, but said it has suspended full-year guidance until it receives funds from Southern Point Resources Ltd.

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1 Feb 2024 12:22

LONDON MARKET MIDDAY: BoE keeps bank rate on hold in split decision

(Alliance News) - London's FTSE 100 was on the up on Thursday afternoon after the Bank of England left interest rates on hold on Thursday, in a split decision.

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1 Feb 2024 11:44

IN BRIEF: Bushveld shares soar as refinances loan with OMF Fund

Bushveld Minerals Ltd - integrated primary vanadium producer - Completes the refinancing of its unsecured convertible loan notes issued to OMF Fund III (F) Ltd, which was dated September 29, 2020. It says it has refinanced its convertible debt obligations of USD47.1 million. Back in November, the firm entered an agreement to refinance its existing convertible loan notes with Orion Mine Finance. It extended the maturity date for existing convertible loan notes to January 31, 2024 (from December 21, 2023) and refinanced the convertible debt obligations of around USD46.9 million. This included a new convertible loan note of around USD14.1 million and a term loan of around USD28.1 million. Chief Executive Craig Coltman says: "I am pleased to announce all conditions set out on the definitive agreement with Orion were met and the refinancing transaction is now completed. We thank Orion for their ongoing support towards the company."

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1 Feb 2024 10:31

AIM WINNERS & LOSERS: Bushveld jumps as refinances loan with OMF Fund

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday.

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29 Jan 2024 17:40

IN BRIEF: Bushveld Minerals finance director resigns after probe

Bushveld Minerals Ltd - integrated primary vanadium producer - Finance Director Tanya Chikanza resigns after investigation into Chikanza's alleged failure to disclose a material conflict of interest. Says it has been established that Chikanza made an oral disclosure to the previous CEO, which she accepts breached the company's conflict of interest policy. She will leave the company on Wednesday.

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19 Jan 2024 20:55

IN BRIEF: Bushveld still awaiting full Southern Point settlement

Bushveld Minerals Ltd - integrated primary vanadium producer - Receives payment of ZAR40 million, or approximately USD2 million, from Southern Point Resources of USD12.5 million due as part of Bushveld's USD18.4 million equity capital raising. Southern Point remains in default of the agreement until Bushveld receives the entire USD12.5 million. Says Southern Point previously claimed late transfer was caused by processing delays, but more recently said delay was due to an institutional funding partner defaulting on its agreement to provide funds. Southern Point says it will provide the funds no later than February 28.

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15 Jan 2024 12:03

IN BRIEF: Bushveld Minerals warns of suspension if receives no funds

Bushveld Minerals Ltd - integrated primary vanadium producer - Says it has not yet received USD12.5 million in funds from Southern Point Resources under its USD18.4 million equity capital raising. Company says it has had to constrain production, suspend some operational activities and defer creditor payments. Further, it warns that it may have to consider suspending operations if further payment delays occur.

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10 Jan 2024 17:40

Bushveld Minerals shares fall as yet to receive SPR funds

(Alliance News) - Bushveld Minerals Ltd on Wednesday said it has issued a letter of demand following the late payment of funds under the Southern Point Resources under its subscription in the recent equity issue.

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3 Jan 2024 21:30

IN BRIEF: Bushveld Minerals yet to receive subscription payment

Bushveld Minerals Ltd - integrated primary vanadium producer - Says it has yet to receive payment from Southern Point Resources under its subscription in the recent equity issue. Notes that while it is "confident" that the USD12.5 million in funds will be received in the coming week, and has been assured as such by Southern Point, it is "obliged to inform the market of the current state of affairs". Adds that shares due to SPR have been issued as a share certificate and remain in the company's possession. The money due is classified as a short-term receivable on the balance sheet until it has been received.

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19 Dec 2023 13:35

Busheld Minerals granted SARB approval for 100% ownership of Vametco

(Alliance News) - Bushveld Minerals Ltd on Tuesday said it had received approval for the acquisition of minority interests in the Vametco vanadium mine and production facility.

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