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TRADING UPDATES: Capital in Anglogold pact; Round Hill valuation rise

Tue, 16th Mar 2021 20:40

(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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Capital Ltd - Africa-focused mining services firm - Inks two new long-term three year contracts at AngloGold Ashanti Ltd's Geita gold mine in Tanzania. Pacts will generate revenue of USD65 million.

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Coro Energy PLC - South East Asian energy company - Says it has received valid acceptances for 37.2 million shares in open offer.

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San Leon Energy PLC - oil and gas producer in Nigeria - Says operations at OML 18 asset, Nigeria are low amid OPEC output restrictions. "In addition, appropriate budget restrictions have been implemented which are designed to preserve cash," San Leon says. To receive USD98 million in three equal instalments beginning in July related to its investment in OML 18. Midwestern Oil & Gas Co Ltd, guarantor of the loan notes, says there will be a delay on an interim repayment made for fourth quarter of last year. "Midwestern has acknowledged that the outstanding payment of USD4.25 million to San Leon is overdue and has explained that the delay has been caused by the combined effects of Covid-19, OPEC quota cuts and the fall in the oil price during 2020," San Leon says.

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Trans-Siberian Gold PLC - gold producer in Russia - Total mineral resource estimate at Asacha gold mine in Russia has increased to 645,000 ounces as of December 31. Reports 43% increase in Asacha's overall gold resource inventory. "I am delighted to report a significant upgrade to the resources at our flagship Asacha gold mine following a successful drilling campaign. Our resource base has increased significantly in quantity and confidence category levels extending the life of mine at Asacha," Chief Operating Officer Eugene Antonov says.

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Panthera Resources PLC - gold exploration and development company with assets in West Africa and India - Says India introduces MMDR2021 bill on mining and mineral regulations. "As the bill has only recently been made available, the company is yet to seek formal legal advice on its application to our investments in India and any comments expressed herein are merely preliminary," Panthera notes. Says bill may "have an impact" on joint-venture partner Metal Mining India Pvt Ltd and its bid to secure approval of its prospecting licence applications for the Bhukia and Taregaon projects in India.

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Cadence Minerals PLC - investment firm and partner in the discovery & development of iron ore and lithium deposits - Says Macarthur Minerals has called on CGG Aviation to perform an airborne electromagnetic survey of Lake Giles iron project to spot new drill targets. Cadence owns about a 1% stake in Macarthur.

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Canadian Overseas Petroleum Ltd - oil and gas company focused on Sub-Saharan Africa - Says shares suspended after sealing deal to acquire Atomic Oil & Gas LLC.

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Aura Energy - Australia-based minerals company - Expects report for half-year ended December to be lodged following Wednesday's annual general meeting. "An important part of the process is capturing the events subsequent to balance sheet date. At the annual general meeting scheduled on March 17, 2021, several resolutions will be considered by shareholders to settle previous issues and set up a solid foundation for resuming operating activities," Aura says.

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BiON PLC - Kuala Lumpur-based renewable energy services - Says two of its four biogas plants are now selling electricity to Tenaga Nasional Berhad, Malaysia's largest electricity firm. "I am pleased that we now have two of our biogas power plants selling electricity to the grid - and hope to soon be exporting power from all four plants and at maximum capacity," Chief Executive Officer Datuk Syed Nazim bin Syed Faisal says. Also notes Datuk Haji Radzali Hassan steps down as non-executive director with immediate effect.

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Kodal Minerals PLC - miner developing project in southern Mali and Ivory Coast - Receives conversion notice in relation to USD1.5 million unsecured convertible loan agreement with Riverfort Global Opportunities PCC Ltd and YA II PN Ltd. Duo convert USD250,337 into 210.9 million shares.

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Tlou Energy Ltd - seeking to use gas and solar to alleviate some of the chronic power shortage in Botswana and southern Africa - Proposes placing to raise GBP2.6 million. Proceeds will go towards construction of a 66 kilovolt transmission line from its Lesedi project to an existing electricity grid in Botswana.

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Kore Potash PLC - potash development company focused on the Congo - Tells Australian regulators it has no explanation for recent share price increase.

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Conroy Gold & Natural Resources PLC - gold exploration & development in Ireland and Finland - Raises a total of GBP2.3 million. Secures GBP1.9 million from placing and subscription. Also inks GBP380,000 from conversion of existing debt into ordinary shares.

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Tremor International Ltd - San Francisco-based video advertising technologies firm - Submits form to US regulators in relation to offering of American depositary shares. "The number of ADSs to be offered and the price range for the proposed offering have not yet been determined. The proposed offering is expected to take place in the second quarter of 2021 after the SEC completes its review process, subject to market and other conditions," Tremor adds.

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Blackrock World Mining Trust PLC - invests in mining and metal assets - Notes Non-Executive Director Ollie Oliveira will step down if elected to the board of Vale SA in August. "Ollie will be greatly missed by the board given his tremendous contribution during the time he has been a director but appreciates his decision given that Vale is the company's largest investment," Blackrock World Mining says.

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Round Hill Music Royalty Fund Ltd - private equity firm exclusively dedicated to investments in revenue generating music copyright assets - Says December 31 copyrights valuation was USD303.7 million, up 7.7% from USD281.9 million on June 30.

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ICG-Longbow Senior Secured UK Property Debt Investments Ltd - UK real estate debt-related investor - Net asset value per share at January 31, financial year end, falls 0.1% to 98.31p from 98.38p at the end of October.

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essensys PLC - London-based software for flexible workspace operators - Launches Flex Services platform for real estate industry customers. The platform allows real estate firms to operate and "scale up" workspaces digitally.

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Blue Prism Group PLC - Warrington, England-based robotic process automation firm - To engage with shareholders after three motions to reappoint directors face sizeable annual general meeting opposition. Votes to reappoint Jason Kingdon, Christopher Batterham and Kenneth Lever face opposition from 34%, 26% and 38% of investors, respectively. "The board will continue to engage with shareholders to understand and discuss their concerns with respect to each of the above resolutions and will provide an update in due course and within six months at the latest," Blue Prism says.

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Mothercare PLC - Hemel Hempstead, England-based retailer to parents and young children - Completes arrangement which see GBP19 million of shareholder loans converted into 189.6 million shares in the company.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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11 Apr 2024 10:53

UPDATE: European Metals produces lithium hydroxide monohydrate

European Metals Holdings Ltd - Czech Republic-focused mineral exploration and development - Produces lithium hydroxide monohydrate from pregnant leach solution, which was manufactured during the recent larger-scale Cinovec pilot programme. Says the pilot programme confirms the viability of the lithium chemical plant process flow sheet for the industrial-scale production of lithium carbonate and lithium hydroxide. Chair Keith Coughlan says: "We are extremely pleased with the results from the lithium hydroxide test program. The lithium hydroxide produced was of the highest grade possible and exceptionally clean. This, when combined with the ability to produce either battery-grade lithium carbonate or hydroxide, enables a wider range of off-takers for the Cinovec product." Cadence Minerals PLC, an investment and development company focused on energy transition minerals which owns a 3.2% stake in European Metals, positively notes the firm's update.

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9 Apr 2024 16:04

TRADING UPDATES: Beowulf consolidates Vardar; GIF outpaces benchmark

(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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5 Apr 2024 14:10

IN BRIEF: Cadence Minerals down 33% on discounted fundraise

Cadence Minerals PLC - investment and development company focused on energy transition minerals - Announces successful fundraise of GBP500,000 through the placing of 16.7 million new shares at a price of 3 pence each. The issue price represents a roughly 43% discount to the company's closing price of 5.25 pence on Thursday. Admission of the new shares to the AIM market of the London Stock Exchange is expected to occur by April 11. Cadence also issues one warrant for each new share, giving subscribers rights to acquire one additional share per warrant held. The warrants are exercisable at a price of 5p each and expire in March, 2025.

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28 Mar 2024 14:27

Cadence Minerals "enthused" as increases stake in Amapa project

(Alliance News) - Cadence Minerals PLC announced on Thursday that it increased its investment in the Amapa iron ore project in Brazil.

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27 Mar 2024 12:20

Cadence Minerals expects review at lithium project to improve outcome

(Alliance News) - Cadence Minerals PLC announced on Wednesday that a review is underway at the Cinovec lithium project in the Czech Republic.

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22 Mar 2024 16:29

Cadence Minerals upbeat on capex optimisation work

(Sharecast News) - Cadence Minerals announced the culmination of its capital expenditure optimisation programme at the Amapá Iron Ore Project on Friday, marking a significant milestone towards operational efficiency and sustainability.

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22 Mar 2024 11:58

Cadence Minerals completes capex scheme, finds USD63.2 million savings

(Alliance News) - Cadence Minerals PLC announced on Friday the successful completion of a capital expenditure optimisation programme at its Amapa project in Brazil, alongside identifying USD63.2 million in cost savings.

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14 Mar 2024 18:26

TRADING UPDATES: Horizonte subsidiary hit with debt injunction

(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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14 Mar 2024 13:48

Cadence Minerals investee Evergreen reports progress at Bynoe

(Sharecast News) - Cadence Minerals updated the market on its investee company, ASX-listed Evergreen Lithium, on Thursday, after the latter disclosed significant developments in its phase three geochemical soil sampling programme at Bynoe in Australia's Northern Territory.

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8 Mar 2024 20:04

TRADING UPDATES: Celadon hails early results of chronic pain trial

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

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29 Jan 2024 14:06

European Metals extends exploration licences for Cinovec project

(Alliance News) - European Metals Holdings Ltd on Monday said it had granted an extension to all four Cinovec exploration licences.

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22 Jan 2024 12:34

IN BRIEF: Cadence says Evergreen gets AAPA approval for Bynoe project

Cadence Minerals PLC - London-based investor backing mineral resource assets - Notes Evergreen Lithium Ltd's receipt of its Aboriginal Areas Protection Authority Certificate for the Bynoe project in the Northern Territory in Australia, where the Cadence has identified multiple large and significant lithium pegmatite targets for drill testing. The AAPA is responsible for overseeing the protection of Aboriginal sacred sites on land and sea across the whole of Northern Territory. Cadence holds 15.8 million shares, equivalent to 8.7% of the issued share capital of Evergreen and is its largest shareholder.

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22 Dec 2023 11:44

IN BRIEF: European Metals shares fall 20% as Cinovec work delayed

European Metals Holdings Ltd - Czechia-focused mineral exploration and development company - Says delivery of definitive feasibility study for the Cinovec lithium project in the Czech Republic is now scheduled for the first quarter of 2024. Says approval granted for timetable extension so Geomet and project study team, DRA Global and Bara Consulting, can complete capital and operating cost estimation, and project implementation scheduling. Says process of obtaining sufficient and diverse proposals, from "numerous" external suppliers and contractors, will take longer than originally planned. Company "believes it is prudent to allow the necessary time to complete the study to the highest standard". Says it does not expect extension to impact the overall project timeline, and that permitting is "already well underway". Cadence Minerals PLC, which holds approximately 5.3% of the equity in European Metals, is "pleased to note" the announcement.

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1 Dec 2023 14:29

TRADING UPDATES: N4 launches investor hub; Capricorn production falls

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

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22 Nov 2023 16:56

EARNINGS AND TRADING UPDATES: Wishbone Gold celebrates project buy

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

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