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(Alliance News) - The following is a round-up of earnings by London-listed companies, issued on Monday and not separately reported by Alliance News:
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AltynGold PLC - gold miner with assets in Kazakhstan - Says it plans to continue day to day activities keeping its mines fully operational but has, in light of the state of emergency in Kazakhstan, implemented a number of precautionary measures as contemplated by its business continuity plans.
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Angle PLC - Guilford, England-based liquid biopsy company - Notes study undertaken in non-small cell lung cancer patients with an epidermal growth factor receptor mutation being treated with the tyrosine kinase inhibitor Osimertinib. Study demonstrates the benefit of longitudinal analysis of epigenetic alterations in circulating tumour cells, in addition to circulating tumour DNA, to assess possible drug resistance mechanisms in patients. Epidermal growth factor receptors are proteins which help cells grow.
"This study, which analysed blood samples taken from patients using the Parsortix system before and after treatment, further demonstrates the dynamic nature of NSCLC and the need for analysis of CTCs and not just ctDNA from serial liquid biopsies to provide information on disease progression and drug resistance. In addition to the clinical implications in guiding therapy decisions, this information is vital for drug companies in patient selection for clinical trials and for monitoring response to new drugs," Angle Chief Executive Andrew Newland says.
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Apollon Formularies PLC - London-based medical cannabis pharmaceutical firm - Inks more than a dozen tripartite agreements with Cannabis License Authority-licensed cultivators. Says this allows access "to consistent availability of large quantities of high-quality, fresh harvests of cannabis buds to be used by Apollon to accelerate processing and manufacturing of medical cannabis products for patients, clinical trials, and export".
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Bens Creek Group PLC - owner of metallurgical coal mine in North America - Announces the results of the initial quality analysis of its stock of metallurgical coal following the commencement of production in December at its site in West Virginia. Says metallurgical coal samples tested are within the quality margins required by the recently signed offtake agreement with Integrity Coal and confirm its characteristics are in line with Ben's Creek's benchmark metallurgical coal specification. Analysis found the ash content having an average of 5.6%; the average volatile matter was 36%; the average sulphur content was 0.7%; and carbon content was around 58%.
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BioPharma Credit PLC - life sciences debt investment trust - Enters into a definitive senior secured loan agreement with Coherus Inc. Says it will invest up to USD150.0 million and subsidiary BioPharma-V will invest up to an additional USD150.0 million. Based in the US, Coherus is a publicly traded commercial stage biopharmaceutical company with a current market capitalization of around USD1.2 billion. The loan will mature in January 2027 and will bear interest at 3-month LIBOR plus 8.25% per annum subject to a 1.0% floor along with a one-time additional consideration of 2.0% of the total loan amount payable upon funding of the first tranche.
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Bradda Head Lithium Ltd - North America-focused lithium development - Says it has exercised its option to acquire a 100% ownership interest in the Burro Creek project area in Arizona. "Our excitement about the assets we have has grown considerably over 2021. The combination of data from 2021 drilling, geophysical studies and further metallurgical studies have encouraged us to exercise the option, which in turn will reduce our yearly costs and the development risk in the assets dramatically," company says.
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Dekel Agri-Vision PLC - West Africa-based agriculture company - Reports record annual production of crude palm oil in 2021 at 39,953 tonnes, up 18% year-on-year from 34,002, and a near record CPO sales of 39,092 tonnes, 15% higher than last year's 34,008. Sees record price achieved of EUR868 per tonne, up 44% from EUR602. Says record revenue is to be reported at its annual results.
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Eco Atlantic Oil & Gas Ltd - oil and gas exploration company focused on Guyana and Namibia - Announces 100% acquisition of of Azinam Group Ltd, including Azinam's entire offshore asset portfolio, in return for a 17% equity stake in the enlarged group on completion of the acquisition. The acquisition includes "a material offshore petroleum exploration asset base in Namibia and South Africa". Azinam is a subsidiary of Azinam Holdings Ltd, which is in turn majority owned by Seacrest Capital Group. "The acquisition strengthens our long-term and strategic position in Namibia, giving us 85% and Operatorship in four highly prospective blocks, and gives us added versatility as we look to partner with a major player to help accelerate further exploration activities in the country's burgeoning energy industry," CEO Gil Holzman says.
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ECR Minerals PLC - gold explorer with assets in Australia - Announces it has submitted an application to renew current exploration license EL006184 for an extended five-year term. "We are pleased to report that ECR has completed the application to renew Creswick exploration license EL006184 for an extended five-year term. Together with our recently approved licence EL006907 covering the Ballarat East Nerrina goldfield, this area provides access to the Dimocks main shale strike zone, believed to host the source veining for much of the alluvial gold within the Creswick deep lead alluvial system," company says.
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Empyrean Energy PLC - Australian oil & gas explorer and producer - Says it is working hard to tick all of the boxes required to start drilling at Jade prospect offshore China, despite being scuppered by bad weather. "The Jade prospect looks to be one of the highest impact exploration wells scheduled for 2022, globally. We need a little bit of luck from the weather, but we are finding ways to progress despite the unseasonal late poor weather condition," CEO Tom Kelly says. Five permit applications are in progress and Empyrean will provide a further update as these permits progress and are completed.
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Frenkel Topping Group PLC - Manchester-based professional and financial services firm focused on asset protection - Acquires Cardinal Management Ltd fpr GBP10.0 million in cash. Cardinal works in close partnership with a number of key NHS Major Trauma Centres to provide a major trauma signposting partnership support service. "Acquisition is firmly in line with the company's strategy to pursue quality opportunities in, and to drive consolidation of, the pre-settlement professional services marketplace in the personal injury and clinical negligence space," company says.
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Galantas Gold Corp - Northern Ireland-focused gold producer based in Toronto - Says production at Omagh project expected to commence at the end of the first quarter of 2022, with 9,000 ounces of gold in concentrate produced at an average head grade of 5.50 grammes per tonne at an all in sustaining cost of USD1,150 per payable ounce for the year ending 2022. Expects USD4.2 million in growth capital expenditure.
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GlobalData PLC - London-based data analytics and consulting company - Expects like-for-like organic revenue growth to be around 8% for 2021, with currency volatility offsetting some gains to finish on revenue of about GBP189 million at an adjusted Ebitda margin of 34%, up from 32% in 2020. Company compiled consensus range for 2021 has revenue between GBP188 million to GBP190.3 million, and between GBP63.5 million and GBP64.5 million for adjusted Ebitda. Results are due on February 28. "I am pleased to report that we expect our FY21 results to demonstrate further momentum and that we are on track to report another year of strong revenue growth and Adjusted EBITDA margin expansion," CEO Mike Danson says.
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Harvest Minerals Ltd - Arapua fertiliser project in Brazil - Sales in 2021 hit 85,030 tonnes, up 57% year-on-year and 6.3% above its annual sales target. 2022 Sales guidance established at 150,000 tonnes, or 76% increase from 2021. Says "substantial" sales orders for 2022 started to be placed towards the end of 2021. "2021 was a breakout year for Harvest. Our annual sales performance has grown exponentially over the last three full years as the quality and value of our product has been recognised by the market. We have seen repeat clients increasing their orders while adding new clients to our portfolio at a pace faster than anticipated. With a high rate of client retention, continued penetration of our product and very strong end of the year, we have high hopes for 2022," says Chair Brian McMaster.
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IQGeo Group PLC - Cambridge-based geospatial productivity and collaboration software company focused on the telecoms and utility industries - Says one of its "existing large telecoms customers" has inked a major new contract for its mobile capabilities to support field construction activities. The license extension has a software value of USD900,000. The existing customer will deploy IQGeo's mobile software on phones and tablets with field crews to capture and optimise construction and planning processes for its network expansion activities.
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Jupiter Emerging & Frontier Income Trust PLC - investment trust focused on companies in emerging and frontier markets worldwide - To amend redemption facility to be offered every 3 years, next to occur in June 2024. This follows shareholder consultation. Alongside the proposed changes to the redemption facility, the board intends to implement a continuation vote every three years.
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Kefi Gold & Copper PLC - gold exploration and development company with projects in Ethiopia and Saudi Arabia - Maintains progress in Saudi Arabia despite Covid-related delays. However, Tulu Kapi gold project in Ethiopia saw temporary paused operations "as a safety measure in response to Ethiopian security issues". "As foreshadowed, military hostilities had abated by the end of Q4 and the focus is now on a long-lasting peaceful resolution. The government has announced the formation of a national dialogue commission to be elected and to seek a long-term solution," company says. Company expects to launch Tulu project in early 2022, subject to the continuing improvement of the security situation.
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Landore Resources Ltd - BAM gold project at Junior Lake in Ontario, Canada - Completes drilling at Bam gold deposit along strike to the west. Intersects 9.25 metres at 4.04 grammes per tonne gold, including 1.01 metres at 31.50 grams per tonne gold. "The board is very pleased with the results of the additional drilling on the newly discovered BAM Western Extension which has the potential to significantly enhance the BAM Mineral Resource and justifies delaying its planned update to include this exciting new area," CEO Bill Humphries says.
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NetScientific PLC - London-based life sciences and sustainability, technology investment and commercialisation firm - Subsidiary ProAxsis says new products to increase sales in 2022. "We are delighted with the continued progress being made at ProAxsis with accelerated developments, new products and additional revenue streams in 2022," says John Clarkson, the chair of both companies. Adds that portfolio company PDS Biotechnology Corp has been granted a patent in the US for its novel HPV16 immunotherapy. "We remain excited about the promising early efficacy and safety data from our ongoing Phase 2 clinical trials. The early clinical data coupled with the recent grant of the PDS0101 patent that runs into late 2037 puts PDS Biotech in a strong position to progress commercialization of the product to address a significant unmet need for more effective treatment of advanced HPV-associated cancer," PDS CEO Frank Bedu-Addo says.
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Nostra Terra Oil & Gas Co PLC - Texas-focused oil and gas explorer - Updates on the second well to be drilled at Pine Mills. Says construction of the drilling pad is now underway and that the well design has been agreed and the rig is currently being mobilised. Drilling is planned to commence in the coming weeks. "Following the success of the first well, we're pleased to be moving forward on the second well with the same operator and drilling team," CEO Matt Lofgran says.
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Omega Diagnostics Group PLC - Alva, Scotland-based medical diagnostics company - Re-confirms that its lateral flow test performs with the same high accuracy on the Omicron variant as it does with existing known variants. "No data exists to suggest there is an issue, be that in silico or in trials," company says.
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RTW Venture Fund Ltd - New York-based investor in life sciences, biopharmaceutical, and medical technology companies - Notes portfolio company CinCor Pharma Inc's pricing of an upsized USD193.6 million IPO on Nasdaq Global Market. CinCor is a clinical-stage biopharmaceutical company developing treatments for cardio-renal diseases. Prior to IPO, the company, together with other funds managed by RTW Investments LP participated in CinCor's USD143 million series B financing round in October 2021.
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Secured Income Fund PLC - specialist secured-lending income investment trust - Says UK Financial Conduct Authority approves application to be self managed AIFM. "The board believes the Company has the necessary resource and expertise for the realisation of the balance of the portfolio. The board will engage specialist consultants where it is considers that such appointments will assist in maximising returns," company says.
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TransGlobe Energy Corp - Calgary, Canada-based oil exploration and production company - Says production averaged 12,800 barrels of oil equivalent per day in the fourth quarter of 2021 and 12,870 barrels a day for the year ended 2021, meeting the upper end of 2021 guidance but falling short of 2020's 13,425 barrels a day. "We are starting 2022 off on great footing in both Egypt and Canada. With the ratification of our consolidated agreement now complete, we will be finalizing our capital program for Egypt shortly. In Canada, the latest well results exceeded our expectations and continue to increase our confidence in the extent of the play in the South Harmattan area, where we hold 22.5 net sections of lands," company says.
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Quartix Technologies PLC - Newtown, Wales-based vehicle tracking system provider - Expects 2021 revenue to come in at GBP25.6 million, in line with market consensus. Expects adjusted Ebitda to be at GBP5.7 million, up from the market consensus of GBP5.0 million. "The improvement in adjusted Ebitda is due to the timing delays in some of the planned incremental investments in the last quarter of the year, which are now expected to be made in 2022," company says. Adds that vehicle subscriptions in 2021 increased by 17% year-on-year to 202,734. Results are due on March 1.
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By Greg Roxburgh; gregroxburgh@alliancenews.com
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