Last checked at 
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
----------
Kavango Resources PLC - London-based metals exploration company - Announces preliminary interpretation for geophysical survey data on its property in Botswana's Kalahari copper belt from South Africa based New Resolution Geophysics. Says basin margins along the KCB are considered prospective sites for copper and silver mineralisation. Chief Executive Ben Turney says: "Based on its analysis of regional copper-silver deposits in the KCB, Kavango believes the configuration of basin and sub-basin structures, including basin margins and intra-basinal highs, plays a pivotal role in many sedimentary copper models. We're quietly confident our Kalahari Copper Belt exploration programme is going to deliver." Adds: "The different exploration data sets we've gathered appears to point in the same direction, namely that our ground covers the style of large-scale system that could host significant copper-silver deposits. We are now defining final target areas to test with ground geophysics and then drilling a little later this quarter."
----------
Ground Rents Income Fund PLC - London-based investor in long-term, income-generating assets across the UK - Refinances its existing GBP25 million loan facility with Santander UK PLC which was due to expire in January 2025. The loan was put in place in 2019, comprising a GBP12.5 million term loan and a GBP12.5 million revolving credit facility, with an aggregate GBP21 million currently drawn. Notes the new loan terms include a new GBP19.5 million facility with an extension in the loan term from January 2025 to July 10 2026. Existing hedging will remain in place until expiry in January 2025, consisting of an interest rate swap on GBP12.5 million at 0.83% per year and an interest rate cap on GBP5.5 million at 1.00% per year.
----------
Value and Indexed Property Income Trust PLC - investor in UK commercial property - Announces the acquisition of two freehold leisure investments at Ashford and Peterborough for GBP5.75 million at a net initial yield of 8.1%. Says both are let to Hollywood Bowl Group PLC on full repairing and insuring leases without breaks to 2040, with annual rental increases in line with the retail price index, capped at 3% per year and collated at 2% per year.
----------
Nostrum Oil & Gas PLC - Kazakhstan-focused oil and gas development, production and exploration company - Updates on progress on its well No 301. Says the well has been drilled on time and on budget and is awaiting completion operations with start-up expected mid-2024. Adds the results are in line with the company's expectations of initial well rates of 400 to 700 barrels of oil equivalent per day. States the drilling rig will now move to the next well, No 41, with expected spud mid-April and start-up in the third quarter of 2024.
----------
Frontier Developments PLC - Cambridge, England-based video games developer and publisher - Says trading since release of results in January has been in-line with expectations, with the largest contributions being provided by Frontier's creative management simulation games, led by Jurassic World Evolution 2 and Planet Zoo. Further, says sold publishing rights for RollerCoaster Tycoon 3 to Atari Inc for total USD7 million on March 15. Receives USD4 million up front and USD3 million of deferred cash consideration. Says proceeds will be used for general working capital purposes. States cash position at March 31 was GBP23.4 million, up from GBP19.9 million at December 31. Remains
comfortable with the financial guidance previously provided, before taking into account the incremental profit and cash from the sale of the RollerCoaster Tycoon 3 publishing rights.
----------
ECR Minerals PLC - Australia-focused gold exploration company - Pretax loss in the year to September 30, 2023 narrows to GBP1.8 million from GBP2.6 million. Discloses no revenue. Administrative costs decline to GBP1.7 million from GBP2.8 million. Loss per share totals 0.15 pence compared to 0.25p.
Chair Nick Tulloch says: "Despite the challenges thrown at ECR during 2023, we have significantly advanced the value of our assets across the group and, hopefully, as shareholders will observe, our pace of activity has accelerated into 2024. We have made a conscious effort to re-energise our investment case and activity levels are high - and reflected in increasing trading volumes on the stock exchange - so we believe that we have much to look forward to in the coming year."
----------
By Jeremy Cutler, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2024 Alliance News Ltd. All Rights Reserved.
