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Pin to quick picksCaracal Gold Share News (GCAT)

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EARNINGS AND TRADING: Belvoir, Property Franchise merger now effective

Thu, 07th Mar 2024 16:47

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

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Dukemount Capital PLC - London-based property management company - Says lenders under its September facility agreement have received a total consideration of GBP375,000, represented by 225.0 million shares in the company and GBP150,000 in cash. There are now no outstanding debts due under the facility agreement, Dukemount says.

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t42 IoT Tracking Solutions PLC - Provider of container tracking and monitoring for the global shipping supply chain - Expects to report total revenue of USD4.0 million for 2023, flat from 2022. The company also says that its gross margins have improved over the year and general expenses reduced. T42 says it remains "confident in the company's technological capabilities and the value of the company's supply chain tracking solutions". The company also agrees an extension of the maturity date on its GBP925,000 unsecured convertible loan notes until January 2025.

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Property Franchise Group PLC- Bournemouth, England-based lettings and estate agency franchising company - All-share merger with Belvoir Group PLC effective. On Wednesday, the pair received approval from the High Court of Justice for the scheme, which will create a company worth GBP214 million with a portfolio of 152,000 properties across the UK. Following delivery of a copy of the court order to the Registrar of Companies, the scheme has now become effective. As a result, Belvoir's shares have been suspended and are expected to be cancelled on Friday. Belvoir shareholders are entitled to receive 0.81 new Property Franchise shares in exchange for their shares in the company. Application has been made for the 30.1 million new shares to be admitted to trading on AIM, expected to become effective on Friday at 0800. Property Franchise has also appointed Belvoir's Jon Di-Stefano, Paul George and Michelle Brook as directors of the company.

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Tirupati Graphite PLC- Graphite and mineral producer focused on its flake graphite mining projects in Madagascar - Is seeking additional funding to cover the GBP1 million working capital required to bring production at its Madagascar projects to 1,500 to 1,600 tons per month on a consistent basis. Tirupati says it is engaged with the Madagascan government regarding the release of around USD2 million VAT refunds, and is confident that these will be returned imminently. The company is also progressing negotiations for a working capital facility from its bankers in Madagascar. Tirupati has also appointed Puruvi Poddar, chief of corporate & business development, to the board as joint managing director with immediate effect. Alastair bath, associate of corporate & business development, has been appointed as executive director. The company is still searching for a chief financial officer, and says it is in discussions with London-based candidates.

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Caracal Gold PLC- gold producer focused on assets in East Africa - Says open cast mining has continued at pit 3B of its Kilimapesa plant in southwestern Kenya, following the recommencement of drilling in February. A total of 11,400 tonnes has been mined at an average grade of 1.82 grammes of gold per tonne of ore, and a strip ratio of ore to waste of 2.7 to 1. Caracal has faced and solved "various recommissioning challenges", included power outages at the project. The company is also working towards the completion of an audit of its results for the financial year ended June 30, which it says is in its "final stage".

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HSS Hire Group PLC - Manchester, England-based equipment hire company - Enters into unconditional agreement to sell ABird Ltd and APEX Generators Ltd, its power solution providers, to CES Global for an enterprise value of GBP23.3 million. In 2022, the two subsidiaries represented around GBP34 million of HSS's revenue and GBP6 million of its operating profit. GBP20 million of the former was through its marketplace business, which will continue to be provided under an additional commercial agreement with CES. Following the disposal, HSS's net debt will reduce to around GBP37 million on a pro-forma basis. HSS says that trading for 2023 was in line with market expectations, with revenue growth of 5%. The company will publish its annual results for 2023 in May.

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By Hugh Cameron, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

More News
21 Jun 2024 12:56

IN BRIEF: Caracal Gold nets Kilimapesa investment from Cynergy Global

Caracal Gold PLC - East Africa-focused gold producer - Secures investment to fund the Kilimapesa expansion project from a strategic investor. Explains that a three phased investment will be made by Cynergy Global Ltd - a Mauritius-based investment group with regional presence in power generation, oil & gas exploration & development, aviation and commercial fishing - into Caracal and its subsidiaries. Phase 1 will see USD1 million payable in two tranches of USD500,000 in exchange for 25% of Caracal. Phase 2 will see a further USD5 million injection, USD2 million in equity and USD3 million in debt in exchange for an additional 10% of Caracal. In the event of Caracal undertaking a fundraise by way of share placement in the future, Phase 3 would see Cynergy granted the option to subscribe for up to 29.9% of Caracal's share capital.

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13 May 2024 20:18

IN BRIEF: Caracal Gold mining hit by bad weather and motor failure

Caracal Gold PLC - East Africa-focused gold producer - Provides update following restart of production at the plant at Kilimapesa for the quarter. Says open cast mining continued in pit 3B with a total of 11,400 tonnes mined at an average grade of 1.82 grammes per tonne gold with a strip ratio of ore to waste of 2.7 to 1 for the month of February; and 11,610 tonnes mined at average grade of 1.625 g/t gold with a strip ratio of ore to waste of 2.9 to 1 for the month of March. Availability of the milling plant in March was hit by a failure of the mill motor which took the milling plant off line from March 2 to March 9. Additional challenges with record high rainfall in the Masai Mara area severely impacted power availability during the month, company says. Chief Executive Robert McCrae says: "The mill motor failure and heavy rainfall were amongst some of the challenges faced in February and March and this has meant that our working capital position is extremely tight and this carried forward into April. The finance team are working to complete the audit and interim financials and are confident after recent feedback from PKF the audit is in final stages."

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26 Mar 2024 12:04

Caracal Gold raises GBP780,000 and notes audit "progress"

(Alliance News) - Caracal Gold PLC on Tuesday said that it has raised GBP780,000 via a subscription, through the issue of 260.0 million shares.

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23 Jan 2024 10:55

Caracal Gold raises GBP140,000 to fund Kilimapesa gold mine

(Alliance News) - Caracal Gold PLC on Tuesday aid it has raised GBP140,000 through a subscription of shares.

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19 Jan 2024 18:01

IN BRIEF: Caracal Gold announces loan agreement with CSS Alpha Global

Caracal Gold PLC - East Africa-focused gold producer - Enters loan agreement for USD250,000 with CSS Alpha Global Pte Ltd with a 12-month term. Loan carries interest of 3% per month, and will be repaid in nine equal instalments after a three-month grace period. Chief Executive Officer Robbie McCrae has secured the loan with a personal guarantee for 50% of the principal amount. Lender's parent company will receive 13.0 million shares in Caracal as part of the transaction. Caracal will use funds for working capital at its Kilimapesa gold mine and for various corporate costs.

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14 Nov 2023 14:19

TRADING UPDATES: Billington on track to beat 2023 expectations

(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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26 Oct 2023 21:49

TRADING UPDATES: Alumasc under CMA's eye amid "resilient" year

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

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24 Oct 2023 20:21

TRADING UPDATES: System1 revenue jumps; Volex takes cyber hack charge

(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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29 Sep 2023 15:47

UK shareholder meetings calendar - next 7 days

Monday 2 October 
no events scheduled 
Tuesday 3 October 
Equals Group PLCGM re capital reduction approval
Haydale Graphene Industries PLCGM re capital reorganisation
Wednesday 4 October 
Alien Metals LtdAGM
Black Sea Property PLCAGM
TheWorks.co.uk PLCAGM
Thursday 5 October 
Afentra PLCGM re Azule acquisition
Capricorn Energy PLCGM re return on cash to shareholders
Henderson Smaller Cos Investment Trust PLCAGM
Novacyt SAAGM
Sportech PLCGM re cancellation and re-registration as PLC
Friday 6 October 
Caracal Gold PLCGM re capital raise
ECR Minerals PLCGM re approval of subscription
Pendragon PLCGM re UK Motor and PVM sale
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

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4 Aug 2023 16:49

LONDON MARKET CLOSE: Stocks end in the green after difficult week

(Alliance News) - Stocks in London ended on a positive note on Friday, following a tumultuous couple of days following a US credit rating cut and another interest rate hike from the Bank of England.

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4 Aug 2023 14:14

Caracal Gold production significantly up from difficult first quarter

(Alliance News) - Caracal Gold PLC on Friday said production in the second quarter was significantly better than in the preceding months, and said activities at its Kenyan mine showed "steady" progress.

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13 Jul 2023 21:20

Caracal Gold completes fundraise, "confident" on project resources

(Alliance News) - Caracal Gold PLC on Thursday said it has completed a GBP351,000 share subscription, and appeared optimistic for its projects' future resources estimates.

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15 May 2023 17:26

TRADING UPDATES: FRP Advisory eyes revenue ahead of expectations

(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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26 Apr 2023 15:44

TRADING UPDATES: Skillcast swings to loss, RM Infrastructure NAV down

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

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