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TRADING UPDATES: Victoria Quarter Earnings Rise, Launches Tender Offer

Tue, 23rd Feb 2021 18:08

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

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Victoria PLC - Worcestershire-headquartered flooring firm - Announces tender offer to purchase EUR50 million of senior secured notes due 2024. Also says it intends to offer EUR350 million in senior secured notes due 2026. Says it will use the new cash for general corporate purposes - particularly acquisitions - and the partial refinancing of existing 2024 senior secured notes to further improve the maturity profile of the group's debt. Additionally, highlights higher quarterly earnings with revenue for the third quarter to December-end up 16% year-on-year at around GBP184 million and earnings before interest, tax, depreciation, and amortization at GBP120.0 million.

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Sunrise Resources PLC- miner focused on operations in Nevada, US and Western Australia - Says a 500-ton sample of natural pozzolan has been delivered to a large cement and ready-mix company in the US. Adds results from a strength testing of mortar blocks made using a 20% substitution of ordinary Portland cement with natural pozzolan from the 500-ton bulk sample shows mortar strength "well in excess of the requirements of ASTM C618" after just seven days curing. Less positively, due to high demand for perlite, all potential customers are currently focussing on their own production and this has caused delays to Sunrise receiving test results of its own product. Separately, Sunrise says it is progressing with drilling plans at Bakers Gold project in Australia, noting the proposed drill programme will comprise five reverse circulation drill holes between 100 metres and 200 metres deep to test three separate gold targets which include old mine workings, areas of gold nugget production and a gold-in-soil geochemical anomaly.

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Serinus Energy PLC - oil company with operations in Romania and Tunisia - Notes flow test results of the Moftinu-1008 well in Romania show the 1,000 metre well flowing 4.0 million standard cubic feet per day, around 667 barrels of oil equivalent per day. Notes the well is now awaiting tie-in as the flowline connecting in to the Moftinu gas plant has been completed and requires final pressure testing.

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Bezant Resources PLC - copper-gold exploration and development company - Begins diamond drill testing at its Kalengwa exploration project area in Zambia. Notes the maiden 800 metre programme will test the first two priority exploration targets based on review of extensive historic exploration datasets. Says target Kalengwa SW2 shows strong magnetic and copper geochemical anomalies that straddle the major Kalengwa Lineament structure 2.5 kilometres southwest from a former mine and target Minemba is located on a structural "mirror image" of the Kalengwa mine setting just 4 kilometres distant, with a coincident copper geochemical anomaly. Says it has signed a drill contract and a rig will be mobilised soon.

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Greatland Gold PLC - precious and base metals exploration and development in Western Australia and Tasmania - Says initial 2021 work programme for the Juri gold-copper joint venture with Australia-based Newcrest Mining Ltd includes drilling of several targets within the Paterson Range East and Black Hills licences. Adds it has identified multiple additional targets within the Juri JV following analysis of results of a airborne electromagnetic survey and further geological interpretation of regional aeromagnetics. Notes exploration work at the Juri JV is focussed on the discovery of intrusion related gold-copper deposits similar to Havieron, Telfer and Winu.

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United Oil & Gas PLC - oil and gas explorer - Says preliminary results form its ASH-3 development well at the Abu Sennan project in Egypt show a maximum rate of 7,720 barrels oil equivalent per day, comprising 6,379 barrels of oil per day and 6.7 million cubic feet per day from the Alam El Bueib reservoir during well-testing

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Red Rock Resources PLC- gold explorer in Kenya and Australia, copper-cobalt in DRC - Says mineral resource estimate at Mikei Gold Project in Kenya is 15.13 million tonnes at 1.49 grams per tonne of gold, with contained metal content of 723,000 ounces of gold. "We now have the opportunity to build on this solid base and it is our belief that the potential for expansion at and around Mikei is strong," says Chair Andrew Bell.

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Golden Rock Global PLC - special purpose acquisition company eyeing buy in fintech sector - Raises GBP200,000 through the subscription for 3.2 million shares at GBP0.0625 each and will use the capital for "much-needed" additional working capital which will extend the period during which it is able to continue to seek an acquisition. Separately, says non-executive directors Feng Chen and Bin Shi resign effective immediately, but does not give the reason why.

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By Ife Taiwo; ifetaiwo@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
21 Nov 2023 15:08

EARNINGS AND TRADING UPDATES: Accsys narrows interim pretax loss

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

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14 Nov 2023 12:48

Greatland starts drilling at Meadows gold prospect

(Sharecast News) - Greatland Gold announced the start of drilling activities at the Meadows gold prospect within the Ernest Giles Project on Tuesday, in an underexplored Archean greenstone belt in Western Australia's Yilgarn Craton.

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14 Nov 2023 11:46

IN BRIEF: Greatland Gold starts diamond drilling at Meadows prospect

Greatland Gold PLC - Western Australia-focused exploration and development company - Commences diamond core drilling at "highly prospective" Meadows gold prospect within its Ernest Giles project in Western Australia's Yilgarn region. Says first two holes will test interpreted mineralised zones, with drilling co-funded by the state government's Exploration Incentive Scheme with a grant for up to AUD220,000 or GBP115,000. Drilling builds on previous work at Ernest Giles and "will provide important geological and structural information" for a systematic reverse circulation drill programme next year.

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3 Nov 2023 11:16

Greatland completes inaugural drilling at Paterson South

(Sharecast News) - Greatland Gold has successfully concluded its inaugural drilling campaign at the Paterson South Project, it announced on Friday, operating under a farm-in and joint venture agreement with Rio Tinto Exploration.

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3 Nov 2023 10:17

IN BRIEF: Greatland says phase one drilling finished at Paterson South

Greatland Gold PLC - Western Australia-focused exploration and development company - Says phase one of drilling campaign at Paterson South in Western Australia has been completed. Under a farm-in and joint-venture deal announced in May, Greatland Gold is entitled to a 75% interest in Rio Tinto Exploration Pty Ltd's 100% owned Paterson South project. Says drilling "effectively tested" the magnetic source of the Stingray and Decka targets, with assay results showing "moderately anomalous" gold and copper in various intervals.

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27 Oct 2023 12:35

Starvest proposes cancelling shares and distributing assets

(Alliance News) - AIM-listed Starvest PLC on Friday proposed cancelling its London listing, frustrated by its shares trading at a "substantial discount".

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24 Oct 2023 17:12

Greatland Gold to pause development at Havieron to allow further tests

(Alliance News) - Shares in Greatland Gold PLC on Tuesday eased as it announced it would need to pause development at Havieron to allow further hydrological drilling, data collection and evaluation will be completed.

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24 Oct 2023 10:25

Greatland Gold reports further progress at Havieron

(Sharecast News) - Greatland Gold updated the market on its Havieron gold-copper project in Western Australia's Paterson province on Tuesday, reporting that as of 8 October, the decline development had reached a depth exceeding 2,030 metres, with 770 metres remaining before reaching the base of the Permian cover and the top of the Havieron orebody.

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17 Oct 2023 12:26

IN BRIEF: Progress continues at Greatland Gold's Havieron project

Greatland Gold PLC - Western Australia-focused exploration and development company - Says progress continues at its Havieron gold-copper project in Western Australia, with total decline development to date now exceeding 2,820 metres as at October 8. As a result, development is now approaching the lower and final aquifer at the base of the Permian cover at Havieron.

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2 Oct 2023 19:41

IN BRIEF: Greatland Gold non-exec Alex Borelli sells 10 million shares

Greatland Gold PLC - Western Australia-focused exploration and development company - Non-executive Director Alex Borrelli sells 10.0 million shares for 6.35 pence each on Sunday. Worth total GBP635,000.

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21 Sep 2023 21:13

IN BRIEF: Greatland Gold enters into deal with Wakamurru Aboriginal

Greatland Gold PLC - Western Australia-focused exploration and development company - Signs land access & mineral explorations agreement with Wakamurru Aboriginal Corp RNTBC, acting on behalf of the Manta Rirrtinya Native title holders. The agreement is for tenement areas within the company's Ernest Giles project on the Manta Rirrtinya exclusive native title determination area in Western Australia. Greatland Managing Director Shaun Day says the agreement "sets in place a mechanism for the Manta Rirrtinya people to benefit from exploration by Greatland on their country. I would like to thank the Wakamurru board for their efforts in bringing this agreement to fruition and look forward to building a strong relationship based on mutual respect and cooperation."

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20 Sep 2023 10:33

Wishbone Gold says drill rig now at Red Setter in Western Australia

(Alliance News) - Wishbone Gold PLC on Wednesday said that the drill rig and support trucks operated by Strike Drilling have arrived at the Red Setter project in the Paterson Range of Western Australia.

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20 Sep 2023 09:17

Greatland inks land access deal with Manta Rirrtinya native title holders

(Sharecast News) - Greatland Gold has entered into a land access and mineral exploration agreement with the Wakamurru Aboriginal Corporation RNTBC, it announced on Tuesday.

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15 Sep 2023 12:48

Greatland Gold applies for more Pilbara exploration licences

(Sharecast News) - Greatland Gold announced moves to secure new exploration territories in the Gascoyne on Friday, specifically at Yannarie to the south of the Pilbara.

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15 Sep 2023 11:06

Greatland Gold submits two applications for exploration at Yannarie

(Alliance News) - Greatland Gold PLC on Friday said it has submitted applications for two new exploration licences covering 126 square kilometres in Australia.

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