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Pin to quick picksDuke Capital Share News (DUKE)

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TRADING UPDATES: Mycelx wins deal; 88 Energy buys in Texas

Mon, 03rd Jul 2023 17:31

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


Mycelx Technologies Corp - Georgia, US-based clean water and air technology - Awarded contract with new client in Middle East. Mycelx adds: "The client required an efficient, reliable system that could treat complex wastewater. Mycelx was selected specifically for its capability to treat the toughest water challenges successfully and cost-effectively and for its longstanding reputation in the region." Expects USD1 million in revenue in 2023 from deal, "which underpins the current forecast for 2023".


88 Energy Limited - Alaska-focused oil explorer - Acquires oil and gas assets in Texas, US. Says average interest in assets acquired is 45%. 88 and joint-venture partner Lonestar I LLC to pay USD1.5 million in total, USD1.1 million net to 88.


Challenger Energy Group PLC - Caribbean and America-focused oil and gas company - Award of Area Off-3 licence in offshore Uruguay formally backed by Uruguay's national regulatory agency. "The company expects that the remaining process for all remaining approvals, finalisation and formal signing of the licence documentation will take approximately three to four months, at which point the initial four-year exploration period of the licence will commence," Challenger adds.


Savannah Resources PLC - London-based lithium development company - Moving "swiftly" in pursuit of remaining environmental licencing process at Barroso lithium project in Portugal. Makes proposals with "leading specialist service providers" to undertake tasks needed for phase of environmental licencing process. "Responses are due in by early July, and Savannah will move promptly to select the service providers to begin the work as soon as possible," company says. "Savannah expects to complete the environmental licencing and definitive feasibility study in the second half of 2024."


Keras Resources PLC - mine developer focused on West Africa and the US - Says audit process for 2022 results complete, but report will be published after AIM deadline. Keras puts this down to "matching day delay in funds receivable and funds payable". It had been due to receive USD1.7 million payment from Togo connected to the Keras acquisition of the remaining 49% stake in Falcon Isle. Togo issued instructions to make the payment, ahead of a July 17 deadline, last week Tuesday, but Keras had not received the funds in its own bank account by close of play on Friday. This "has resulted in a technical default". Keras adds: "Keras has received reassurances that the funds will be available in our account within the next 7 days and the default will be remedied immediately following the receipt of USD1.7 million from the state, within the 30-day period permitted in the agreement with the vendor of Falcon Isle." Shares suspended from trading on Monday. "The annual report is expected to be released as soon as the matters set out above are resolved, which is expected to be within seven days," Keras adds.


Red Rock Resources PLC - Africa and Australia-focused natural resources development company - Certificate of registration issued as part of company's application for lithium licence near Bikita, Zimbabwe. Certificate gives firm licence covering 94 hectares. "Certificates for two small extension applications adding 45 hectares to the core licence in this area were also recently granted. Also near Bikita, adjacent to a purchased area where transfer is in process, registration of two small extension licence areas of 21 hectares and 22 hectares was recently granted," Red Rock adds


Vast Resources PLC - London-based mining company with projects in Romania and Zimbabwe - In talks for extension for settling of loan repayments due to A&T Investments SARL and Mercuria Energy Trading SA, which stands at around USD8.4 million. Was due to be repaid on Friday. "The company is in discussions with Mercuria and Alpha about a further extension in view of the anticipated settlement of the historic claims," Vast adds.


Base Resources Ltd - Africa-focused mineral sands producer and developer - Says three areas of mineralisation identified for further targeted exploration at Kwale East in Kenya. They are Magaoni, Masindeni and Zigira. Base Resources says: "Access for exploration remains constrained, including to the highly prospective areas of Magaoni and Zigira, with landowner consents yet to be obtained for 35% of these areas." Adds: "A phase 2 air core drilling program, focusing on the three identified exploration targets, will commence shortly. As part of this programme, the remaining 35% of Magaoni and Zigira will be drilled as landholder consents are obtained and all phase 1 auger holes with an average heavy mineral grade greater than 1% will be twinned to enable better sample quality and allow drilling through to basement."


Marula Mining PLC - Africa-focused mining and development company - Reports delay to 2022 results, so not published ahead of deadline. Requests temporary suspension of trading in its shares on AQSE Growth Market. Marula adds: "The company anticipates that it will be in a position to publish its final results shortly, following which trading in its shares will be restored. A further announcement will be made in due course." On Thursday, the company said it was "pleased" by early findings exploration work at the Kinusi copper mine in Tanzania, where it holds a 75% interest.


Eden Research PLC - Oxfordshire, England-based company focused on sustainable biopesticides and plastic-free formulation technology - Applies for UK authorisation for Ecovelex, which has been developed to tackle crop destruction caused by birds. Chief Executive Sean Smith: "I am particularly proud of our Oxfordshire-based team that led the technical development of Ecovelex, and we can truly say that this is a home-grown solution to a problem that impacts farmers in the UK and elsewhere every year. Eden's collaboration with Corteva Agriscience over the past several years has been highly productive, and I am pleased to see the first commercial benefits from these activities within reach."


MGC Pharmaceuticals Ltd - London-based pharmaceutical company specialising in plant-inspired medicines - Welcomes new rule in Australia which re-classifies psychedelics and allows psychiatrists to prescribe them to patients with depression or post-traumatic stress disorder. MGC adds: "Effective from 1st of July 2023, MDMA and Psilocybin have been reclassified as medicines for some complex mental health conditions. Authorities in Australia have now placed the two drugs on the list of approved medicines by the Therapeutic Goods Administration, allowing patients suffering from depression and PTSD to access them under the care of authorised Australian physicians. As previously announced, MGC Pharmaceuticals recently received permission from the Slovenian Ministry of Health to undergo scientific research developments of Psilocybin, a naturally occurring psychedelic compound found in a variety of fungi and mushrooms."


Duke Royalty Ltd - Europe and North America-focused alternative capital solutions provider - Makes follow-on investment worth GBP1.9 million in existing royalty partner New Path Fire & Security Ltd. Will fund New Path's latest acquisition of BDI Security Ltd. BDI provides installation and maintenance services focused on CCTV and access control. Duke's financing in New Path now stands at GBP6.9 million.


By Eric Cunha, Alliance News news editor

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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21 Feb 2024 17:00

IN BRIEF: Duke Capital name change confirmed, to take effect on AIM

Duke Capital Ltd - Guernsey-based provider of royalty finance to companies in UK and Europe - Says name to Duke Capital Ltd from Duke Royalty Ltd has been confirmed by the UK Registrar of Companies, and will take effect for shares trading on AIM from Thursday. On Tuesday, the name change was passed by shareholders at an extraordinary general meeting.

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20 Feb 2024 13:18

IN BRIEF: Duke Royalty confirms name change to Duke Capital

Duke Royalty Ltd - Guernsey-based provider of royalty finance to companies in UK and Europe - Confirms that name change to Duke Capital Ltd was passed by shareholders at extraoridnary general meeting, held Tuesday.

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13 Feb 2024 14:34

UK shareholder meetings calendar - next 7 days

Wednesday 14 February 
GCP Infrastructure Investments LtdAGM
Gfinity PLCGM re annual report
Tertiary Minerals PLCAGM
Tritax EuroBox PLCAGM
Thursday 15 February 
JPMorgan Asia Growth & Income PLCAGM
Synergia Energy LtdGM re share placing
VVV Resources LtdAGM
Friday 16 February 
Irish Residential Properties REIT PLCEGM re removal of 5 of 9 directors
Location Sciences Group PLCGM concerning reverse takeover agreement
Red Rock Resources PLCAGM
UK Oil & Gas PLCGM re proposed capital reorganisation
Monday 19 February 
Cloudbreak Discovery PLCGM
East Imperial PLCGM re capital reorganisation
Oxford Cannabinoid Technologies Holdings PLCGM re convertible loan note agreement with Cantheon
Residential Secure Income PLCAGM
Tuesday 20 February 
abrdn Equity Income Trust PLCAGM
Carr's Group PLCAGM
Dewhurst Group PLCAGM
Duke Royalty LtdEGM re changing name to Duke Capital
Comments and questions to newsroom@alliancenews.com
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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29 Dec 2023 12:45

London close: Stocks mixed after short New Year session

(Sharecast News) - London markets had a mixed performance in a shortened pre-holiday trading session on Friday.

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29 Dec 2023 11:39

IN BRIEF: Duke Royalty expects higher quarterly recurring cash revenue

Duke Royalty Ltd - Guernsey-based provider of royalty finance to companies in UK and Europe - Expects recurring cash revenue of GBP6.3 million in its third quarter for the year ending March 31, which would be a 12% increase from GBP5.6 million a year before. It would also be a notch up from GBP6.2 million in its second quarter. "We are pleased to report that despite the ongoing macroeconomic uncertainties, we continue to deliver revenue growth, with [the third quarter of financial 2024] on course to maintain this upward trend, underpinning our stable dividend which at the current share price, represents an approximate 9% yield," says Chief Executive Officer Neil Johnson.

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29 Dec 2023 10:03

Duke Royalty posts strong quarter, makes follow-on investment

(Sharecast News) - Duke Royalty reported a strong set of third-quarter results on Friday, as well as a follow-on investment in its existing royalty partner, Creō-Tech Industrial Group.

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29 Dec 2023 07:59

London open: Gains modest but stocks rise to seven-month high

(Sharecast News) - UK stocks edged higher to a seven-month high on Friday morning, though gains were likely to be limited in a shortened trading session ahead of the New Year's break.

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29 Dec 2023 07:47

LONDON BRIEFING: FTSE 100 to edge higher, rounding off lacklustre year

(Alliance News) - Stocks in London are expected to edge higher on Friday, as investors reflect on an eventful year and look ahead to what's in store for 2024.

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29 Dec 2023 07:35

London pre-open: Small gains expected in shortened trading session

(Sharecast News) - London stocks were expected to rise slightly on Friday morning, though movements continue to be limited as volumes remain low in festive trading.

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23 Nov 2023 08:48

CORRECT: Duke Royalty half-year total income falls 34%; payout steady

(Correcting total income figures.)

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22 Nov 2023 14:15

EARNINGS AND TRADING: Victorian Plumbing profit up; Duke revenue dips

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

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13 Sep 2023 14:39

IN BRIEF: Duke Royalty recurring cash revenue up 17% in first quarter

Duke Royalty Ltd - Guernsey-based provider of royalty finance to companies in UK and Europe - Recurring cash revenue is GBP6.0 million in the three months to June 30, Duke's financial first quarter, up 17% from GBP5.1 million a year before. Expects recurring cash revenue in the second quarter of financial 2024 of GBP6.2 million. Looking ahead, Duke says it remains confident that the consistent quarterly growth in recurring revenue will continue.

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13 Sep 2023 13:31

Duke Royalty reports strong start to new financial year

(Sharecast News) - Alternative capital specialist Duke Royalty reported a new record of £6m in recurring cash revenue for the first quarter on Wednesday, making for an increase of 17% over the first three months of the prior year, and a £0.3m increase on the previous quarter.

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31 Jul 2023 17:31

TRADING UPDATES: MGC Pharmaceuticals granted psilocybin import permit

(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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20 Jul 2023 20:06

TRADING UPDATES: Chapel Down sales pop; Serabi output rises

(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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