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UK TRADING UPDATE SUMMARY: Record In Talks For Bumper Hedging Deal

Mon, 21st Sep 2020 19:29

(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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Record PLC - Berkshire, England-based specialist currency manager - Selected for "dynamic hedging mandate" worth USD8 billion. "Assuming contract negotiations conclude successfully, this mandate will build up over time and will be revenue-generating by the end of this calendar year," Record adds.

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Supply@ME Capital PLC - fintech platform which provides inventory monetisation - Enters into strategic pact with "leading European alternative investment firm" and shareholders 1AF2 Srl and The AvantGarde Group SpA to acquire a bank in Europe. Supply@ME to give bank rights to invest in securitisation note issue and in exchange, provide EUR8 billion of funding over five years. Supply@ME will not be shareholder in bank and will bear no costs related to transaction.

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STM Group PLC - London-based cross-border financial services provider - Updates on Adams versus Carey judgement. Says UK Court of Appeal has, as expected, granted Adams right to appeal in legal dispute against STM's Options UK Personal Pensions. Court is expected to consider the case in early 2021.

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Nakama Group PLC - recruitment consultancy firm in UK and Asia - Revenue for year ended March 31 expected at GBP9.7 million, down 28% from GBP13.4 million. Nakama says business was hurt by Covid-19.

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Kin & Carta PLC - business consultancy firm - Says revenue and profit for year ended July 31, ahead of internal expectations. Says partnerships with Alphabet Inc's Google and Microsoft Corp continuing to expand.

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Knights Group Holdings PLC - legal and professional services firm - Reports "encouraging recovery" from Covid-19 pain. New business currently operating at 10% of pre-virus crisis levels.

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Driver Group PLC - Lancashire-based professional services consultancy - Reports partnership with Johannesburg-based dispute resolution consultancy EVRA Consulting Ltd.

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Picton Property Income Ltd- property investor - Leases whole Swiftbox, Rugby distribution unit to UPS, generating GBP600,000 in annual income. Agrees to sell Bridge Street, Peterborough retail asset for GBP4.0 million. Stanford Building, Long Acre refurbishment "nearing completion".

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Town Centre Securities PLC - property investor and car park operator - Sells four retail properties in Scotland and London for GBP35.2 million in total. "The units sold comprise of two Waitrose stores in Milngavie and Glasgow; an Aldi/Home Bargains store in Milngavie; and a high street retail store in Chiswick, London," Town Centre said. Proceeds to be initially used to reduce debt.

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Urban Logistics REIT PLC - logistics-focused real estate investment trust - Plans GBP100 million placing and GBP30 million retail open offer and institutional offer. "The company intends to use the net proceeds of the Issue to acquire an identified pipeline of high-quality logistics properties," Urban said.

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CATCo Reinsurance Opportunities Fund Ltd - Investor focused on offering returns from investments linked to catastrophe reinsurance risks - Advised of release of side pocket investment worth USD68.9 million which company is due to receive during September. Will go towards USD94.6 million compulsory redemption.

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Tekcapital PLC - UK intellectual property investment company - Portfolio firm Guident files additional US patent for remote monitoring and control of autonomous vehicles and delivery drones and robots. "Guident has developed and acquired a portfolio of seven patents and applications, together which enables advanced teleoperation for AV's and drones to enhance customer safety and security whilst providing a reliable, low latency connection to any advanced mobile network solution," Tekcapital said.

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RTW Venture Fund Ltd - life sciences-focused investment firm - Portfolio company Athira Pharma Inc prices USD204 million initial public offering. "Athira's IPO was significantly upsized and oversubscribed, raising USD204.0 million, offering 12 million shares at USD17.00 per share," RTW said.

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Cambria Africa PLC - Zimbabwe-focused investment company - Says subsidiaries operating near or ahead of break-even levels.

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Trident Royalties PLC - London-based mining royalty firm - Lands agreement with Fe Ltd for early payment second tranche of Koolyanobbing royalty acquisition, in exchange for a AUD350,000 discount. Trident will pay just under AUD2.7 million instead of AUD3.0 million.

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Nostra Terra Oil & Gas Co PLC - oil & gas firm with assets in US and Egypt - Reports farm-in deal at Permian Basin, Texas. Nostra to pay USD25,000 fee at closing of deal and USD100,000 towards initial re-entry of first well. Nostra to earn 50% of net cashflow in whole life of well.

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UK Oil & Gas PLC - London-based oil & gas firm - Says study finds "significant gas resource" at Loxley Portland gas discovery.

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Arc Minerals Ltd - exploring for copper and cobalt in Africa - Says maiden diamond drilling programme at Fwiji target in north western Zambia has found oxide and sulphide mineralisation. "I am very encouraged by the developments at Fwiji," Executive Chair Nick von Schirnding said.

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Upland Resources Ltd - South-East Asia and North African-focused oil and gas firm - Says work programme at Saouaf, Tunisia, completed. Analysis of seismic data finds "a promising new sub-salt play".

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Pensana Rare Earths PLC - operator of rare earths project in Angola - Says responsibilities at Miyabi gold project in Tanzania to be assumed by Drillcraft Ltd. "The transaction will comprise the receipt of net cash proceeds by Pensana of approximately USD400,000 payable alongside a five-year, 2% royalty participation agreement over the existing mineral resource estimate of approximately 500,000 ounces of gold, with operations forecast to commence in mid-2021," Pensana said.

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Petroneft Resources PLC - Russia-focused oil and gas explorer - Secures USD1 million financing deal with Alexandrovskoye Oil Refinery to fund development of Licence 67, Russia.

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Blencowe Resources PLC - developing Orom-Cross jumbo flake graphite project in Uganda - Says core samples from diamond drilling programme at Orom-Cross graphite project sent for analysis at laboratory in Tanzania as Blencowe eyes maiden JORC resource estimate in fourth quarter.

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Kavango Resources PLC - London-headquartered metals exploration firm - Forms joint venture with Power Metal Resources PLC focused on mineral exploration projects in Botswana. Power Metal to pay Kavango GBP75,000 in cash and issue 6.0 million shares, as well as 5.0 million warrants.

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IXICO PLC - neuroscience data analytics firm - Selected by Global Alzheimer's Platform Foundation to support Bio-Hermes trial. "Bio-Hermes' core purpose is development of a bio-sample database to investigate biomarkers on a head-to-head basis in conjunction with medical history elements," IXICO said. "This contract does not have significant impact on management's expectations of performance for the year, but will contribute to the company's already strong year end order book."

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Yourgene Health PLC - molecular diagnostics firm - Appoints Immuno-Biological Laboratories Inc as distributor of polymerase chain reaction in US. "The appointment of IBL-America is an important pillar within our plans to penetrate the largest diagnostics market in the world with our full portfolio across the whole genomic testing lifecycle," Chief Executive Officer Lyn Rees said.

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Beximco Pharmaceuticals Ltd - Bangladesh-based medicine manufacturer - Secures US Food & Drug Administration approval for Flecainide Acetate medication used to treat irregular heartbeat disorders. Beximco says this is the eighth US FDA approval.

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Billington Holdings PLC - steel and engineering firm - Structural steel division awarded GBP21 million worth of contracts. Pacts scheduled for delivery in fourth quarter and throughout 2021.

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John Lewis Of Hungerford PLC - manufacturer and retailer of furniture - Expects pretax loss n year ended June 30 to widen to range of GBP850,000 to GBP900,000 from GBP229,000. Sales down 33% to GBP5.6 million from GBP8.3 million.

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Escape Hunt PLC - escape rooms operator - Says 10th site operating under Escape Hunt brand to open in Norwich this week. Adds 11th site, in Basingstoke, penned for October opening. "Escape Hunt is also pleased to announce that it has completed contracts for a twelfth site at the Brewery Quarter in Cheltenham," firm adds.

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Spinnaker Opportunities PLC - London-based cash shell - Restarted all project work streams in view of completing Kanabo Research Ltd acquisition.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Kavango Resources raises GBP3.1 million via bookbuild

(Alliance News) - Kavango Resources PLC on Wednesday said that it has raised GBP3.1 million via an accelerated bookbuild, at a price of 1.2 pence per share.

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23 Apr 2024 15:03

IN BRIEF: Kavango finds 9.95 gold grammes per tonne at Hillside

Kavango Resources PLC - Botswana and Zimbabwe-focused exploration company - Says drilling at Hillside Prospect 2 finds up to 9.95 gold grammes per tonne. Intends to test the gold-bearing potential of these shears by drilling a fence of holes to test for a bulk-minable gold deposit across the entire zone, it says. The Hillside gold project is in Zimbabwe. On Monday, Kavango reported that it had found up to five potentially mineralised shear zones identified from an induced polarisation survey at Hillside. Chief Executive Officer Ben Turney says: "Results from Prospect 2 at Hillside are even stronger than those we've recently reported at Prospect 4. The 7.2 meters wide zone running at 9.95g/t is significant in itself, but viewed in the context of the other gold intercepts in Hole BRDD001 the open-pit potential is clear."

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22 Apr 2024 15:49

IN BRIEF: Kavango finds potentially mineralised zones at Hillside

Kavango Resources PLC - Botswana and Zimbabwe-focused exploration company - Finds up to five potentially mineralised shear zones identified from an induced polarisation survey at its Hillside gold project in Zimbabwe. Two of the zones identified from the IP survey coincide with a series of parallel artisanal workings. Adds that three additional shear zones have been interpreted under slightly thicker cover and remain undiscovered. Chief Executive Officer Ben Turney says: "We are looking forward to testing the bulk-minable gold potential at prospect 4. The possible presence of four parallel, gold-bearing shear zones makes this an increasingly attractive exploration target."

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19 Apr 2024 11:24

Kavango Resources announces drill tender for drilling at Karakubis

(Alliance News) - Kavango Resources PLC on Friday said that it is tendering for the first phase of scope drilling on the Kalahari copper belt at its Karakubis project in Botswana.

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18 Apr 2024 14:38

IN BRIEF: Kavango Resources loss widens; eyes Kalahari drilling start

Kavango Resources PLC - Botswana and Zimbabwe-focused exploration company - Pretax loss widens 49% to USD3.3 million in 2023, from USD2.2 million in 2022. Notably, Kavango reports pre-licence exploration costs of USD1.2 million for 2023, compared to none a year prior. Administrative cost decrease 7.0% to USD2.1 million from USD2.2 million. The company is in a pre-revenue state so far. Kavango expects to start drilling at Kalahari copper belt project in Botswana in the middle of the second quarter of 2024. Notes that in March it signed its first contract to start immediate gold mining operations at the Hillside project in Zimbabwe.

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16 Apr 2024 20:34

EARNINGS AND TRADING: AssetCo deputy retiring, Chapel Down ups revenue

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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15 Apr 2024 11:01

IN BRIEF: Kavango celebrates drilling results at Hillside, Zimbabwe

Kavango Resources PLC on Monday said - London-based, Southern Africa-focused metals exploration company - Finds 29.08 grammes of gold per tonne at the Hillside Prospect 4 gold asset in Matabeleland, southern Zimbabwe after drilling SKDD001 hole. Says hole contains multiple further broad zones of geochemically anomalous gold values thought to relate to additional shear zones. Results are pending on four other holes drilled across three other Hillside prospects, it adds. Kavango will also examine near surface gold mining potential at prospect 4, based on intersected grades and ongoing artisanal mining in the area. Chief Executive Officer Ben Turney says: "This result far surpasses our expectations at prospect 4. Prospect 4 is our fourth-ranked target at Hillside. These results underline the Hillside project's overall potential to host over [one] million ounces of mineable gold."

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12 Apr 2024 10:30

IN BRIEF: Kavango completes magentic survey at Nara project, Zimbabwe

Kavango Resources PLC - London-based, Southern Africa-focused metals exploration company - Completes ground magnetic survey on Nara gold project in Zimbabwe. Says it has identified magnetic low lineaments interpreted as shear zones. Shear zones are commonly associated with gold mineralisation, it explains, adding this discovery will lead to a follow-up survey. Chief Executive Ben Turney says: "We've mobilised the rig to our Nara Project in March and have just completed our fifth diamond hole here. We will provide an update on drilling in the coming weeks but based on visual observations of core we decided to push ahead with a ground magnetic survey of the project area. Our goal was to learn more about the structure we are drill testing." This comes after Kavango on Thursday said that it had received authorisation to export drill core samples from the Hillside project, also in Zimbabwe.

Read more
11 Apr 2024 09:46

Kavango Resources gets approval to export Zimbabwe test samples

(Alliance News) - Kavango Resources PLC on Thursday said that it has received authorisation to export drill core samples from the Hillside gold project in Zimbabwe.

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2 Apr 2024 16:27

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(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 Mar 2024 12:03

Kavango Resources completes airborne survey of Bostwana copper asset

(Alliance News) - Kavango Resources PLC on Friday announced the completion of the final geological survey of its property in Botswana's Kalahari copper belt.

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8 Mar 2024 10:41

IN BRIEF: Kavango rises as eyes revenue from Zimbabwe mining arm

Kavango Resources PLC - Southern Africa-focused metals explorer - Announces that it expects to move to revenue in March, adding that it aims to double current production to one kilogram of gold a month over the course of 2024. Kavango also announces that it has signed its first contract to start immediate gold mining operations at its Hillside project in Zimbabwe. Also says that it has formed a new subsidiary in Zimbabwe, Kavango Mining Ltd. Chief Executive Ben Turney says: "Current revenue at Hillside amounts to around AUD30,000 per month, and the operation there is already profitable. Continuous production at Zimbabwe gold projects secures the ground and forms an important part of any long-term development plan. Our objective is to become a significant gold producer in this country, and this is our first step towards achieving this goal. If all goes well, there are other production opportunities we hope to bring to Kavango."

Read more

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