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TRADING UPDATES: GCP Infra hails NAV rise; Jadestone profits from oil

Fri, 03rd Feb 2023 15:17

(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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4D Pharma PLC - Leeds-based pharmaceutical firm - Gives update on signal finding study of MRx0518 in combination with anti-PD-1 therapy Keytruda on patients with solid tumours that have progressed on a prior immune checkpoint inhibitor. In March, the company noted four patients with renal cell carcinoma, which had experienced durable stable disease. Renal cell carcinoma is a cancer of cells in the lining of tubules in the kidney. On Thursday, 4d Pharma says one of the four patients is partially responding to the treatment with MRx0518 in combination with anti-PD-1 therapy Keytruda. "Despite recent setbacks in the microbiome field experienced by other companies and the limitations on patient recruitment as a result of the administration, we are delighted that patients continue to benefit from the trial treatment. We continue to build on the body of evidence for the future development of MRx0518 and 4D's approach to Live Biotherapeutics," says Alex Stevenson, chief scientific officer at 4D pharma.

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Darktrace PLC - Cambridge, England-based cybersecurity business - Chief Executive Officer Poppy Gustafsson buys 48,000 shares for GBP2.254 each, worth GBP108,192.

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GCP Infrastructure Investments Ltd - Jersey, UK-based investment fund focused on UK infrastructure projects - Net asset value as at December 31 rises 6.0% to 113.59 pence per share from 107.18p a year prior. Says company was exposed to diversified and partially inflation protected portfolio with of 48 investments, up from 47 a year prior, with a valuation of GBP1.1 billion, unchanged. Like a year ago, the company's portfolio has a weight-adjusted average annualised yield of 7.9%. Says that it made five investments in the quarter to December 31, totalling GBP54.6 million, up from three investments totalling GBP52.8 million a year earlier.

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Greatland Gold PLC - London-headquartered mining development and exploration company, focused primarily on precious and base metal mining in Western Australia and Tasmania - Identifies bismuth in Western Australia at Juri joint venture, of which it owns 49% and Newcrest Mining Ltd 51%. Bismuth is a gold-copper mineralisation pathfinder element. Intersects 4 metres at 0.4 grams of gold per tonne at Black Hills hole, and 6 metres at 0.2 grams of gold per tonne at Black Hills hole. Notes that exploration confirms merit of follow-up drilling. Greatland Gold Managing Director Shaun Day says: "We are strongly encouraged by the results of our second drilling campaign at the Juri joint venture. The importance of bismuth as a pathfinder in the Paterson region is particularly significant with geochemistry at Black Hills similar to what we have seen at Havieron."

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Henderson Opportunities Trust PLC - Invests in the Asia Pacific region - Net asset value per share at October 31 falls 28% to 1,173.7p from 1,626.9p a year prior. NAV total return is negative 26%, including dividends reinvested, underperforming against its benchmark, which posts a negative return of 2.8%. Declares annual 34.0p per share dividend, up 24% from 27.5p a year prior. Looking ahead, says it is able to grow "substantially" despite a wider backdrop, with Chair Wendy Colquhoun noting that "this portfolio should not be seen as a proxy for the UK economy."

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Jadestone Energy PLC - Asia Pacific-focused oil and gas company - Says 2022 production averages 11,487 barrels of oil equivalent per day, down 8.4% from 12,545 a year ago. Company realises average oil price of USD103.93 per barrel in 2022, jumping 40% from USD74.34 a year ago. Revenue of about USD421 million is up 24% from USD340 million in 2021. Expects lifting of 4.0 million barrels of oil, down 13% from 4.6 million in 2021. Expects lifting of gas to triple in 2022 to 1.8 million cubic feet from 600,000 in 2021. In 2022, capital expenditure was about USD87 million, below the guidance of USD90 million to USD105 million but 55% higher than USD56.0 million in 2021. Looking into 2023, CEO Paul Blakeley says: "We are engaged in several mergers & acquisitions processes at present, and I am optimistic that we will be successful in resuming our growth trajectory in 2023, while remaining very disciplined about the opportunities we pursue."

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Mineral & Financial Investments Ltd - Cayman Island-based investor in the natural resources sector - Notes that Redcorp Empreedimentos Mineiros Lda finds 3.9% copper equivalent at Venda Nova South Zone in south Portugal. In addition, Mineral & Financial Chief Executive Officer Jacques Vaillancourt says: "We are encouraged by the confirmation that South Zone also appears to hold copper dominated mineralization similar to what we are seeing at depth in the North Zone. Additional drilling in the future is expected to expand on these discoveries."

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By Tom Budszus, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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