(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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Manolete Partners PLC - London-based insolvency litigation financing - Says earnings before interest and tax between GBP5 million and GBP6 million to fall below market expectations for year ended March 31. Chief Executive Steven Cooklin says: "As previously announced, our business has faced challenging trading conditions caused mainly by the UK government's temporary restrictions on insolvencies. These measures were largely ended on 1 October 2021, however, the final elements stayed in place until 31 March 2022. The impact of the final elements of these measures has had a greater than expected effect as, allied to the Omicron related operational disruptions that impacted many professionals in our sector, the number of new case enquiries did not increase at the rate expected in the final quarter of our financial year." Says strong financial year in all other respects.
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tinyBuild Inc - video games publisher and developer - Acquires Demagic Games a development studio in Russia and Ukraine with 23 staff members. "The company has been working with Demagic Games for over a year on various projects including Hello Neighbor 2, unannounced titles, and more recently Deadside," tinyBuild says. "By bringing Demagic Games in-house, the company expects to reduce dependencies on external studios and increase visibility on the production process, in line with its core strategy. The small acquihire will have no material impact on the company's earnings." Consideration consists of 621,006 new shares at 194.13 pence each, GBP1.2 million in total.
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Caracal Gold PLC - gold producer with operations in East Africa - Announces first gold from new heap leach plant at its Kilimapesa gold mine in Kenya. "This first gold production has been achieved ahead of schedule and marks an important milestone in the wider expansion strategy currently being implemented to increase production to 24,000 ounces per annum at Kilimapesa," Caracal says.
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Angus Energy PLC - UK-focused onshore oil and gas producer - Raises GBP675,000 through placing of 61.4 million shares at 1.1p each. "The net proceeds of the placing will be applied towards working capital and general costs," Angus says.
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Thor Explorations Ltd - Vancouver-based mineral explorer with assets in west Africa - Says 21,343 ounces produced in first quarter at Segilola gold mine in Nigeria. Says 7,220 ounces produced in March. "Gold production guidance for the second quarter of 2022 is 22,000 to 24,000 ounces and production guidance for the full year 2022 is maintained at 80,000 to 100,000 ounces," Thor Explorations says.
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Rockfire Resources PLC - gold and base metal exploration company - Says 51 samples taken from old core of Molaoi zinc deposit in Greece. "The 51 samples were selected to verify a spread of original assays ranging from 0.9% Zn to a maximum of 36.75% Zn," Rockfire says. "Rockfire has recently met with the Molaoi community advisory committee. The committee welcomed Rockfire to commence its work in Molaoi and advised the company to maintain good, open dialogue with the community." Says quotes received from independent environmental consulting firms in Greece to prepare an environmental summary, which is needed before drilling.
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Alkemy Capital Investments PLC - London-based company focused on acquisition in mining and technology metals sectors - Says unit Tees Valley Lithium Ltd "moving rapidly towards establishing Europe's first sustainable battery-grade lithium hydroxide processing facility in the UK". TVL CEO John Walker visited a Sembcorp Energy site in UK last week. TVL has an exclusivity agreement for a 20-acre plot in order to construct low-carbon battery-grade lithium hydroxide plant.
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Duke Royalty Ltd - Guernsey-based royalty finance provider - Says fourth quarter ended March 31 was "record quarter of cash generation". Total cash revenue was GBP6.7 million, 37% above previous record. "Normalised cash revenue totalled GBP4.7 million, an increase of 21% on the previous quarter and an 88% increase over Q4 FY21," Duke Royalty says.
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Cellular Goods PLC - London-based consumer products with lab-made cannabinoids - Says three ingestibles, whose product formulations are manufactured and supplied by Chanelle McCoy Health, receive UK Food Standards Agency product validations. "The FSA list as of 31 March 2022 does not include Cellular Goods, however, this is not necessary in order for the products to remain on the market," Cellular says.
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By Eric Cunha; ericcunha@alliancenews.com
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