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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Woodbois Ltd - Guernsey-based sustainable wood manufacturing company operating in Africa - Raises GBP3 million via placing 250.0 million new shares at 1.2 pence per share. Chief Executive Officer Paul Dolan says the fundraise will help the company "to assist in its further expansion and towards achieving full FSC certification." He adds: "This placing significantly strengthens our balance sheet as we take the company towards cashflow positivity in 2023 where our overriding priority is to generate consistent, positive cash flow from our substantial forestry assets."
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RC365 Holding PLC - London-based company focusing on payment gateway solutions & IT support and security services - Says its subsidiary Regal Crown Technology Ltd signs white-label application development agreement with Wching Technology Ltd, under which Wching will develop a mobile application product for Regal Crown. Regal Crown will pay Wching Technology HKD6.0 million, around GBP629,452, in cash, from RC365 reserves. If the programme can not be successfully launched on Android or iOS versions within 90 calendar days, Wching will refund HKD4.0 million to Regal Crown.
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Ariana Resources PLC - London-based mineral exploration and development company with gold mining interests in Europe - Says 3 target areas at the Kepez Main in Turkey show gold and silver potential, explaining that geophysical data supports the presence of a low-sulphidation vein system. Managing Director Kerim Sener says that Kepez Main is associated with high-grade silver mineralisation of up to almost 400 grams of silver per tonne, and lower-grade gold of about 1.5 grams of gold per tonne. Further, notes an additional exploration potential identified at Kepez North.
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First Tin PLC - London-based tin development company with advanced, low capex projects in Germany and Australia - Notes that the Taronga diamond drilling project in Australia is completed, with 1,619 metres drilled. Ongoing drilling has proven an over 400-metre extension of resource area. Meanwhile, gets positive results from second two deep drillholes at Tellerhauser Tin project in Germany, where it finds 2.02% tin in hole Saxdre31, and 20 grams of silver per tonne in hole Saxdre24.
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Hydrogen Utopia International PLC - London-based company specialising in turning non-recyclable mixed waste plastic into hydrogen and other carbon-free fuels, new materials or distributed renewable heat - Says it will lead to its first EU waste plastic to hydrogen facility as it enters option to lease greenfield site at Fishertown Energy Park in Ireland. "Fisherstown Energy Park has its own electrical grid connection, an electrical substation and the potential for HUI to utilise the existing waste water treatment facilities on site, which previously serviced a very large denim manufacturing business. The costs of installing such facilities are generally very substantial, therefore the availability of existing facilities should produce significant construction cost savings in building a plant," Hydrogen says. Chief Executive Officer Aleksandra Binkowska says: "I hope that Longford will be the start of a pioneering technology in Ireland."
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Kavango Resources PLC - London-based, Botswana-focused metals exploration company - Completes relogging of hole DITDD004 at Ditau project. Says additional core samples have been taken and will be sent to a laboratory in Canada for additional assays.
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Ricardo PLC - West Sussex, England-based environmental and engineering consulting company - Buys 90% stake in Melbourne, Australia-based water-and-natural-resources advisory consultancy Aither Pty Ltd for up to GBP17 million. Aither will be integrated into Ricardo's Australia operations. Ricardo says paid GBP9.6 million on completion of acquisition. The remaining figure of between nothing and GBP7.4 million is contingent upon the performance of Aither, at an annualised earnings before interest, tax, depreciation and amortisation multiple of under 11 times. In financial 2022 ended June 30, Aither had a pretax profit of around GBP1.3 million and revenue of around GBP5.8 million. The Ebitda margin was around 22%.
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Zinnwald Lithium PLC - Germany-focused lithium development company - Signs heads of terms agreement with base metal ores trader Ocean Partners UK Ltd, under which Ocean Partners will buy Zinnwald's subsidiary Erris Zinc amid a commitment by Ocean to spend EUR130,000 by the end of 2025. Zinnwald will receive a 1% net smelter royalty and a EUR200,000 cash payment six months after the start of the commercial production from Abbeytown in Ireland, where Erris owns a zinc license.
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By Tom Budszus, Alliance News reporter
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