(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
Botswana Diamonds PLC - diamond explorer - Agrees to acquire the KX36 diamond discovery in Botswana, along with two adjacent prospecting licences and a diamond processing plant. The interests are part of a package held by Sekaka Diamonds. Botswana Diamonds is acquiring 100% of the shares of Sekaka - which is owned by Petra Diamonds Ltd. The consideration comprises a cash payment of USD300,000 and a 5% royalty on future revenue.
Global Petroleum Ltd - oil and gas upstream exploration company - Updated estimate of prospective resources for PEL0094 (Block 2011A), offshore Namibia, shows a total of 881 million barrels of unrisked gross prospective resources has been estimated in PEL0094 in two prospects, of which 687 million barrels are net to Global Petroleum. As expected, the interpretation of the 3D seismic data has led to increased confidence in the two prospects previously identified, Marula and Welwitschia Deep.
Rockfire Resources PLC - Australian-focused gold and copper exploration company - Diamond drilling down to 500 metre depth is now underway at its 100%-owned Plateau gold deposit, part of the Lighthouse tenement in North Queensland, Australia. Six diamond drill holes are planned, which is the fourth drilling programme since 2019.
Bezant Resources PLC - copper-gold explorer - Completes due diligence on Virgo Resources Ltd ahead of acquisition, and 70% interest in Hope copper gold project in Namibia. Bezant said completing the due diligence is an "important milestone", and it can now focus on completing the administrative process.
Blencowe Resources PLC - Ugandan-focused graphite miner - Completes diamond drilling program at Orom-Cross graphite project in northern Uganda. Recent drilling focused on further infill and step out drilling at both the Western anomaly and also the newly discovered High Grade Camp Lode. In total, 65 holes with a combined total of 1,950 metres have been drilled. The program, Blencowe said, was designed to delineate about 8 to 10 million tonnes to a JORC (2012) Indicated standard, which would provide the initial resource for 10 years of mining. The initial results suggest the company will achieve that objective and that there is a "significant weighting of higher value jumbo, extra-large and large flake sizes within the identified resource".
Tertiary Minerals PLC - AIM-listed mineral exploration and development company - Makes further progress with base and precious metal project portfolio in Nevada. Expecting to begin exploration programmes and drilling activities on a number of projects this summer and autumn.
Fox Marble Holdings PLC - marble quarrying and processing firm in Kosovo and the Balkans - Acquires two additional automatic CNC cutting machines to be installed in its factory in Kosovo. The two machines, Fox Marble said, will double the capacity to cut tiles when fully commissioned in the next few weeks.
Lok'nStore Group PLC - UK self-storage company - Agrees one-year extension to existing joint banking facility with Royal Bank of Scotland and Lloyds Bank. The GBP75 million five-year revolving credit facility which was agree last year included two extension options, one of which has now been implemented. The facility which was due to expire in April 2024, will now run until April 2025. Lok'nStore said the extension could provide funding for more site acquisitions. The revolving credit facility set the interest rate margin at the London Inter-Bank Offer Rate plus 1.50% to 1.75%.
Sealand Capital Galaxy Ltd - Cayman Islands-headquartered investment firm - Subsidiary ePurse Ltd signs 24-month strategic partnership agreement with JM International to help it develop and execute its e-commerce strategy. JM International's Hong Kong-based Qiaohuajiao brand produces cod fish maw, which is used in health, cosmetics and food production. ePurse has helped JM International to open the first and currently only Fish Maw flagship store on Tmall International, a business-to-consumer platform that is part of Alibaba Group Holding Ltd.
Alpha Growth PLC - financial advisory business - BlackOak Alpha Growth Fund sees significant rise in interest from registered investment advisors in the US and family offices since the end of April. Unveils new Alpha Growth & Income strategy. The strategy is a combination of life settlements and life contingent structured settlements hedged by a life insurance policy that is suitable for investors seeking cashflow and growth, funded in either a separate managed account or as a co-mingled fund with a minimum investment of USD50 million, Alpha said. Notes Covid-19 will hurt group results but confident of future growth.
Fair Oaks Income Ltd - investor in US and European collateralized loan obligations - To restart dividend payments due to "continued performance" and the "increased resilience" of its Master Fund II's investments. Expects to announce the first quarterly dividend at the end of July in an amount of approximately 1.5 US cents per share. The Master Funds received distributions on all its equity investments in April and, with all investments passing their over-collateralisation tests, distributions are expected on all investments in July as well, Fair Oaks says.
By Paul McGowan; firstname.lastname@example.org
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