(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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Aquila European Renewables Income Fund PLC - renewable energy infrastructure investor - Notes Norwegian Supreme Court on two wind farms in the Fosen Vind cluster, Roan and Storheia, but feels own Rock project will be unaffected. Says ruling is "highly uncertain". "The Supreme Court did not conclude any actions for either party involved in the Fosen case and the Roan and Storheia wind farms therefore remain in operation for the time being," company explains. Fosen's majority shareholder, Statkraft AS, applies for a renewed concession and expropriation permit. Company adds: "The Investment Adviser recognises recent progress with the Rock and based on external legal advice, has no indication that the Fosen procedures will have any direct consequences for the Rock."
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Chelverton Growth Trust PLC - investment trust - Net asset value per share ends August 31 at 57.62 pence, up sharply compared to 40.61p at same point year before. "We entered the financial year in a period of considerable uncertainty. Given this background, I am pleased to report that we have experienced a good portfolio recovery both in absolute return and relative to our benchmark. It is also pleasing to report that at the year end the shares were trading above the published net asset value," Chair Kevin Allen says. Adds: "The company has now been reduced to a size that makes it unviable in the longer term to continue with the current structure and the board is in the process of reviewing how to return funds to Shareholders in the most effective way."
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Dunedin Enterprise Investment Trust PLC - investor in UK mid-market management buyouts - Tenders 13.4 million share in oversubscribed offer, equal to just under 74% of company's issued share capital. Tender price is at 1.2% discount to September 30 NAV per share price of 546.2 pence.
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Spectral MD Holdings Ltd - London and Dallas-based predictive analytics company that develops proprietary AI algorithms and optical technology - Presents results of the first multi-centre study using Spectral MD's burn imaging technology include 124 adult and paediatric participants. In adult participants, the performance with cross-validation from the AI model for identification of non-healing burn regions showed 92% accuracy, an improvement on the previously reported accuracy of 91% for the DeepView Wound Imaging Solution in early healing assessment of adults. In paediatric patients, the AI performance showed 88% accuracy.
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Glenveagh Properties PLC - Dublin-based housebuilder - Completes sale of the residential and second hotel sites at Castleforbes for EUR78.5 million cash. Also proposes EUR100 million share buyback. Shares will be repurchased on Euronext Dublin.
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Immotion Group PLC - Manchester, England-based virtual reality entertainment company - Launches new live-action virtual reality experience Gorilla Trek. "This exciting new VR experience will take guests to the rainforests of Rwanda on a mission to study one of nature's most intriguing yet endangered animals - the mountain gorilla," company explains.
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D4T4 Solutions PLC - Surrey-based data management - Launches latest version of its behavioral biometrics Celebrus fraud data platform with the new features of "tamper-proof" geolocation, time series anomaly detection and sense & trace. Says updates "ensure banks, insurance companies, retailers and other organisations can protect their consumers from online fraud."
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Trident Royalties PLC - London-based mining royalty & streaming company - Notes positive progress made at Thacker Pass lithium project by Lithium Americas Corp. Trident holds 60% interest in a gross revenue royalty over the entirety of Thacker. In October 2021, the Nevada Department of Environmental Protection made preliminary determination to issue the three remaining key state-level permits at project. Trident Chief Executive Adam Davidson says: "LAC also reiterated the increased scale of the feasibility study and its intention to commence construction in the first half of next year. The increase in project scale is significant for Trident's royalty which, at current LCE spot prices and following an expected USD13.2 million partial buy-back payment to Trident, would see the royalty pay over USD11 million per year on the Phase 1 production profile and over USD23 million per year on the Phase 2 production profile; while we note that the original PFS contemplated a 46-year mine life."
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Helium One Global Ltd - London-based exploration & development company - Starts 2D Seismic data acquisition at its prospective Rukwa basin in southern Tanzania. "Seismic acquisition parameters and line layout are based on the integration of data from the Phase I 2D seismic, the company's Airborne Gravity Gradiometry dataset, remote sensing of surface helium anomalies utilising Sentinel-2 satellite data, and Helium One's technical understanding of charge and migration developed from Tai-1/-1a drilling results," company explains. Phase II 2D Seismic is positioned deeper into the basin than the Phase I 2D Seismic, which was limited to areas of prospectivity close to the basin margin and to target depths of below 1,200 metres.
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TomCo Energy PLC - oil explorer in Utah - Fully-owned subsidiary Greenfield Energy LLC exercises option to buy initial 10% stake in Tar Sands Holdings II LLC. Initial stake acquired from USD2 million cash, with remaining 90% stake to be acquired before end of 2022. "Alongside the acquisition of the initial 10% of the Membership Interests, a newly incorporated subsidiary of Greenfield has been granted a lease over approximately 320 acres of the 760 acre site owned by TSHII," company says. Signs USD1.5 million loan facility with Valkor Oil & Gas LLC to help pay for 10% stake buy.
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Thor Mining PLC - precious, base, energy and strategic metal projects in the US and Australia - Ups stake in the oxide mineral rights from Spencer Metals Pty Ltd ("Spencer") over the Alford East copper-gold project to 51% after fulfilling Stage 1 expenditure obligations of the earn-in at the project in South Australia. Managing Director Nicole Galloway says: "The company is now progressing with the completion of the Stage 2 earn in, which will result in Thor having an 80% interest in this highly prospective project. This demonstrates our confidence in Alford East and the value it can bring to the company."
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Alkemy Capital Investments PLC - focused on acquisition in mining and technology metals sectors - Notes it is currently reviewing several potentially suitable energy transition mineral projects, particularly in the lithium and copper sectors. "Alkemy is looking at projects in jurisdictions which are capable of delivering the necessary approvals within a timescale supportive of our targeted return," company says. Director Sam Quinn adds: "Since admission to the Main Market the company has systematically reviewed a range of projects that are needed for net zero 2050 targets. In order for the targets to be met, a huge investment in minerals that enable the energy transition will be required and our goal is to benefit from this trend by adding value to the development and or processing of these minerals." Initial public offering in London was September 27, raising GBP1.5 million.
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Caerus Mineral Resources PLC - London-based exploration & resource development company - Signs extension to option agreement with Jubilee Metals Group PLC. Jubilee and Caerus have agreed to extend the agreement for a further period of 18 months within which window a positive Joint Venture decision is anticipated. Says main focus remains the Troulli- Kokkinapetra project where both companies are working towards a possible joint venture early in 2022. Caerus Chief Executive Martyn Churchouse says: "Very good progress has been made and we look forward to a swift and positive conclusion comprising a first Joint Venture with Jubilee. In this context, plans have been made for a team of Jubilee engineers to visit site before the end of November."
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By Paul McGowan; paulmcgowan@alliancenews.com
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