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TRADING UPDATES: Billington on track to beat 2023 expectations

Tue, 14th Nov 2023 14:19

(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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Gusbourne PLC - Ashford, England-based sparkling wine producer - Agrees short-term unsecured loan facility of GBP1.5 million. The loan is repayable on demand and carries an interest rate of 2.5% per annum above base rate. Says he proceeds of the loan will be used for working capital and to support the ongoing growth strategy of the company. The loan was agreed with Michael Ashcroft, who holds a 66% stake in the company.

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Billington Holdings PLC - Barnsley, England-based company focused on structural steel and engineering - Says revenue and pretax profit for 2023 are now expected to be ahead of previous market expectations. Notes good quality orders secured and increased volumes being delivered in the second half of the year. "The strong performance we achieved in the first half of 2023 has continued into the second half. The benefit of efficiency enhancements implemented throughout the group, combined with a diverse range of successfully delivered contracts in 2023, means that I am pleased to report that I now expect the group to achieve revenue and profits for 2023 ahead of previous market expectations," says Chief Executive Mark Smith. "Going forward into 2024 we have a healthy pipeline of further opportunties, however, we do remain mindful of continuing inflationary pressures and an uncertain macroeconomic outlook, but with our strong balance sheet I do believe the group is well positioned for the future."

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Tekmar Group Ltd - Darlington, England-based provider of technology and services for global offshore energy markets - Subsidiary AgileTek Engineering Ltd agrees to buy remaining shares of Ryder Geotechnical Ltd. In 2019, Tekmar bought an 80% stake in Ryder Geotechnical. Says it will now buy the remaining 20% for GBP200,000. In the financial year ended September 30, Ryder Geotechnical reported pretax of GBP101,000 and net assets of GBP276,000.

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Inspirit Energy Holdings Ltd - London-based waste heat recovery technology and decarbonisation engineering solutions company - Raises GBP200,000 through placing of 2.00 billion shares price at 0.01p each. The proceeds will be used for general working capital purposes. Admission of shares onto AIM is expected to occur on or about Friday.

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Premier African Minerals Ltd - Africa-focused metals and mineral project developer - Says progress with the second stage and long-term solution to the production delays at Zulu remains on track with the delivery of the new ball mill still projected for December. Expects full production support from January. Stark International Projects Ltd reports that there is "steady improvement" in both concentrate grade and plant performance and the optimisation of the current plant configuration remains ongoing following the installation of the interim solution of the RHA mill at Zulu, but it is "proving impossible to construct the civil works required for the new mill at the same time as continuing with present operations." Current mining and pit development operations will continue as will exploration in the wider EPO region. "Premier is now considering an early cessation of current plant operations with the longer-term goal of production at design capacity not being unnecessarily delayed. The result is likely to be that no shipments of concentrate will now be made in November and December 2023," it adds.

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Ananda Developments PLC - London-based pharmaceutical, which is developing cannabinoid-based medicines for chronic pain conditions - Subsidiary MRX Medical Ltd signs drug supply agreement with University of Edinburgh and the Lothian Health Board. U of E and LHB are leading a randomised controlled trial on the use of cannabidiol versus placebo in the treatment of chemotherapy induced peripheral neuropathic pain. MRX's patent pending MRX1 cannabidiol oil formulation will be used as the investigative medicinal product in the trial. CEO Melissa Sturgess comments: "The drug supply agreement provides the legal framework for the provision of MRX1, our patent pending cannabinoid medicine, to the CIPN randomised controlled trial. Importantly it also confirms that MRX retains full IP ownership of the medicine and provides Ananda with a pathway to utilise the IP from the trial for commercial purposes."

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Caracal Gold PLC - East Africa-focused gold producer - Announces USD1.6 million financing, to support development of the Kilimapesa project. Includes USD1.4 million financing agreement with Koenig Vermoegensverwal MBH, as well as USD150,000 loan with CEO Robbie McCrae. The use of proceeds will include Phase 2 of the Minopex work program, maintenance and expansion capex, costs related to the ongoing expansion financing process and other operational expenses. "The funds allow us to bring momentum back to the Kilimapesa expansion project and to complete the expansion funding process. The results of the 1st Phase work completed by Minopex have confirmed the robust economics of the Kilimapesa expansion project and the decision to push ahead with parts of the expansion whilst we finalise the expansion funding is good news for Caracal and Kilimapesa stakeholders," McCrae says.

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GSTechnologies Ltd - Milton Keynes, England-based information technology solutions company - Raises GBP847,000 through a placing of 77.0 million shares priced at 1.10 pence each. The funds raised from the placing will be principally used to accelerate the implementation of the company's GS Money strategy, including potentially via further acquisitions.

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Jadestone Energy PLC - Asia-Pacific-focused oil and gas company - Signsa sale and purchase agreement with Japan Australia LNG Pty Ltd to buy non-operated 16.67% working interest in the Cossack, Wanaea, Lambert, and Hermes oil fields development, offshore Western Australia. The acquisition will increase the company's non-operated working interest in the CWLH fields to 33.33% from 16.67%. Jadestone first acquires an intereast in CWLH in November 2022, says since then "the subsurface performance has exceeded expectations, validating our work and de-risking the significant upside potential we see across the fields."

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One Heritage Group PLC - UK-based residential developer focused on the north of England - Exchnages contracts to sell land at Churchgate, Leicester. Transaction iscontracted to complete by December 6. One Hertigae will receive GBP440,000 and recognise a gain after selling costs of GBP22,000.

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By Sophie Rose, Alliance News senior reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 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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7 Mar 2024 16:47

EARNINGS AND TRADING: Belvoir, Property Franchise merger now effective

(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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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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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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