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(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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i-nexus Global PLC - Coventry-based business management software - Plans to issue GBP600,000 convertible bonds to build on pipeline momentum, and because cash flow is typically weaker in winter. Detailed proposals will be published in "a matter of weeks". Wins three contracts in recent months and has two more contracts near completion. These are the first new contracts won in over nine months. But pick-up in sales up to July was slower than anticipated, meaning the monthly operating cost base has dropped to GBP270,000 from GBP360,000. Operating performance has been restored to breakeven from June onwards, on an earnings before interest, tax, depreciation and amortisation basis.
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KR1 PLC - investor in companies in the blockchain industry - Invests USD500,000 in a seed funding round for the Exponent project, in return for a to-be-determined amount of XPN token. "Exponent is an open-source platform that equips strategists with the necessary tools and infrastructure to bring quantitative trading to decentralised finance," KR1 says. KR1 further announces on Wednesday that it contributed 5,000 kusama coins, worth around USD2.0 million, to the Moonriver crowdloan campaign. "Moonriver is a community-led Ethereum-compatible smart contracts platform," KR1 says.
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Xtract Resources PLC - copper and gold miner in Mozambique, Zambia and Australia - Drilling at the Bushranger copper-gold project in New South Wales shows pyrite mineralisation and associated copper sulphides, and chalcopyrite mineralisation. "These two holes will be modelled and the continuing phase 2 drilling programme will focus on open pit extensions and further testing of this newly emerging zone," Executive Chair Colin Bird says.
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Ariana Resources PLC - gold miner in Turkey and Australia - The Kiziltepe mine, 24%-owned by Ariana, makes revenue of USD16.2 million in the first half of 2021. 7,941 ounces of gold produced and sold. Production in July and August remains on target for the year.
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Black Sea Property PLC - property developer in Bulgaria - Receives permission to rebuild the Ivan Vazov office building in central Sofia, after a long approval process. Construction work planned to start in early October.
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By Ivan Edwards; ivanedwards@alliancenews.com
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