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TRADING UPDATES: Anglo Asian touts intercepts; Netcall backs guidance

Thu, 08th Dec 2022 17:45

(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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Anglo Asian Mining PLC - Gold, copper and silver producer focused on Azerbaijan - Confirms over 60 metres of thick and continuous gold and copper mineralisation at its Gilar deposit in the Gedabek contract area. Drilling has demarcated six zones of mineralisation, with key results including 51.0 metres at 2.54 grams a tonne of gold, 2.0% copper, and 2.1% zinc at 1.0 grams gold cut-off from 335 metres. The company is now planning a project for underground access, with a tunnel suitable for production.

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Galileo Resources PLC - Mining company focused on US and Africa - Says detailed reconnaissance mapping and sampling over its Kamativi lithium project in Zimbabwe has identified four target zones with potential for pegmatite-hosted lithium, tin and tantalum. Meanwhile, possible visual identification of spodumene and petalite mineralisation in rock chip samples from one site will require laboratory confirmation. The company has a current interest of 29% in the project, held through its interest in BC Ventures, along with an option to earn an additional 51% interest.

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Mast Energy Developments PLC - London-based developer of reserve power generations plants - Says it is now fully optimised and has been granted a gas connection route on its Bordesley peaking power project in Birmingham. The company has also received approval from network supplier, Cadent Gas, for the required pressure and volumes of gas to fuel the project. It has also concluded an EPC contract optimisation with Clarke Energy, which is expected to improve the overall financial feasibility of the project. The project's debt funders, Close Brothers, will now resume their due diligence with an anticipated financial close targeted during the first quarter of 2023.

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Tern PLC - Investor focused on the internet of things - Says that Wyld Networks AB, of which it holds 47% equity, has launched its satellite IoT network service providing 100% global connectivity for the IoT. Wyld has established agreements with over 40 launch partners, along with a SEK34 million backlog of purchase orders for its Wyld Connect IoT module and data service.

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CT Automotive Group PLC - Designer, developer and supplier of interior components to the automotive industry - Says it experienced a return of supply chain disruptions towards the end of the financial year, with delays in the start of production on new orders incurring costs in connection with Tooling. Associated revenue will now be delayed to the 2023 financial year. Further, revenue for the 2022 financial year is expected to be lower at USD120 million. Higher costs will lead to an expected pretax loss of around USD11.0 million.

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Aferian PLC - B2B video streaming solutions company - Says trading for the year ended November 30 has finished in line with expectations. The board anticipates announcing its full-year results consistent with previous guidance ranges. Adjusted operating profit is expected in the range of USD7.8 million to USD8.8 million. Total revenue is expected to be around USD91 million, representing a 2% decrease on the prior year, while net cash should be slightly higher than guidance at USD4 million. This follows "better than expected" cash collection from customers.

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Netcall PLC - Bedford-based customer engagement software provider - Reports "solid trading momentum" in the first half of the financial year, in line with management expectations. Demand for its cloud solutions continues to increase, leading to strong revenue growth, with a substantial increase in new customer wins during the trading period. Looking ahead, the group said that it is confident of "sustained success" on the basis of its growing pipeline of opportunities.

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By Holly Beveridge; Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2022 Alliance News Ltd. All Rights Reserved.

More News
4 Aug 2022 17:01

IN BRIEF: Galileo Resources to start drilling at Luansobe project

Galileo Resources PLC - London-based mining company focused in the US and Africa - Signs contract for 3,000 metres of core drilling on potentially open pittable copper deposit at Luansobe project in Zambia.

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20 Jul 2022 10:29

IN BRIEF: Galileo Resources shares up on Zambia copper drilling yields

Galileo Resources PLC - London-based mining company focused in the US and Africa - Reports copper assay results of preliminary drilling at Shingada copper-gold project in Zambia.

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30 May 2022 15:07

Galileo issues first update on exploration at Shinganda

(Sharecast News) - Galileo Resources released its first exploration update and information on drill planning over its option and joint venture project covering the Shinganda Copper-Gold Project in Zambia on Monday.

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17 May 2022 21:07

IN BRIEF: Galileo Resources identifies copper zone in Luansobe

Galileo Resources PLC - London-based mining company focused in the US and Africa - At the Luansobe copper project in Zambia, pXRF testing of the historical drill core identifies an upper mineralised zone of moderate copper grade, with some higher grade intervals.

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26 Apr 2022 21:14

IN BRIEF: Galileo Resources starts exploration activities in Zimbabwe

Galileo Resources PLC - London-based mining company focused in the US and Africa - Commences exploration activities at lithium and gold projects in Zimbabwe, with a recon mapping and sampling site visit at Kamativi lithium project set to start immediately.

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30 Mar 2022 18:36

IN BRIEF: Galileo Resources due GBP523,000 for sale of Vermiculite

Galileo Resources PLC - London-based mining company focused in the US and Africa - Confirms that all conditions for Afrimat Ltd to acquire the Vermiculite mining right from Glenover Pty Ltd have been met, and that Glenover has elected that the mining right consideration be paid in cash, of which GBP523,000 is due to the company.

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22 Feb 2022 21:57

TRADING UPDATES: Angling Direct ups revenue; Ceiba takes Omicron hit

(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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22 Feb 2022 14:34

Galileo upbeat on modelling progress at Zambia's Luansobe

(Sharecast News) - Galileo Resources reported progress in the modelling of historic drill data at Luansobe on Tuesday, as well as completion of the second payment to the vendors to secure an initial 75% interest in the Luansobe Copper Project in Zambia.

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11 Feb 2022 17:52

IN BRIEF: Galileo Resources shares rise on proceeds from Glenover sale

Galileo Resources PLC - miner with projects in Botswana, Zambia and South Africa - Receives ZAR50.7 million, around GBP2.4 million, from the Glenover asset sale, through the disposal of its indirect holdings via Galagen Pty Ltd to Johannesburg-listed Afrimat Ltd.

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11 Feb 2022 14:52

Galileo gets cash from Glenover, Star Zinc sales

(Sharecast News) - Galileo Resources updated the market on the Glenover asset sale between Glenover and Afrimat on Friday, as well as the sale of the Star Zinc project to Siege Mining.

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11 Feb 2022 11:41

AIM WINNERS & LOSERS: Mycelx sinks 15% despite positive outlook

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.

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13 Jan 2022 21:12

TRADING UPDATES: Power Metal renewal; Yamana production hits target

TRADING UPDATES: Power Metal renewal; Yamana production hits target

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31 Dec 2021 09:52

Galileo Resources shares drop following release of half-year results

Galileo Resources shares drop following release of half-year results

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30 Dec 2021 15:12

Galileo enters joint venture deal over possible Zambia project

(Sharecast News) - Galileo Resources has entered into a joint venture agreement with private Zambian company Statunga Investments, it announced on Thursday, which holds the Luansobe Project.

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30 Dec 2021 11:29

AIM WINNERS & LOSERS: UniVision Hong Kong contract hits snag

AIM WINNERS & LOSERS: UniVision Hong Kong contract hits snag

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