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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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Clipper Logistics PLC - Leeds, England-based logistics firm - Inks letter of intent with JD Sports Fashion PLC to provide e-fulfilment services from its distribution centre in Sherburn, near Leeds. Says the contract term is expected to be an initial minimum term of two years and will likely go live in the early part of the summer.
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Blencowe Resources PLC - natural resources company focused on the development of the Orom-Cross graphite project in Uganda - Says maiden JORC Mineral Resource at Orom-Cross, which covers only one of the two deposits drilled, being the Northern Syncline lode, has yielded almost double the targeted tonnage. "Following our acquisition of the project less than one year ago I am delighted to announce our maiden JORC Mineral Resource at Orom-Cross and at a time when the global market for graphite is set to grow exponentially," says Chair Cameron Pearce.
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SEEEN PLC - London-based social media technology firm - Wins contract with "major" US tyre retailer worth USD50,000 in revenue in next 12 months. Sees first quarter revenue up 13% at USD2.3 million from USD2.1 million the year before. "Given fast-moving market dynamics in this space and opportunities created by Covid, thecompany will look to build further momentum through acquisitions of digital content, analytics and advertising companies," says SEEEN.
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Mode Global Holdings PLC - bitcoin banking app company based in London - Notes Bitcoin growth in first quarter of the year. "Following a record-breaking December, it's fantastic to see continued triple-digit growth in Bitcoin trading volumes and new user onboardings over Q1. We continue to see strong uptake from our new customers who enjoy how seamless it is to open their accounts in minutes and start buying Bitcoin 24/7 - any day of the week. We've had a particularly successful launch on Android, the app has been very well received by the community and continues to rise through the ranks of the Google Play store," says Mode Global.
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Nucleus Financial Group PLC - Edinburgh-based financial services provider - assets under management increase to GBP18.00 billion at end of first quarter from GBP15.63 billion a year prior. Inflows increase to GBP637 million from GBP580 million a year before. "The first quarter has been incredibly strong for new business activity, reflecting the continued achievements of our people and validating our decision to maintain our investment programme through 2020," says Nucleus.
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Castillo Copper Ltd - base metal explorer focused on Australia and Zambia - Says data review boosts exploration potential of Arya prospect in Australia. "The board is very much looking forward to resuming drilling at the Mt Oxide project, especially the Arya prospect which has increasingly compelling attributes. While our main goal is to drill-test our primary target, EG01, the overall exploration potential has been boosted with a further seven targets identified by BHP Group PLC and the Sansa prospect," says Managing Director Simon Paull.
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Circle Property PLC - UK-focused regional office assets investor, developer and manager - Says investment and development portfolio has been independently valued at GBP132.15 million as at March 31, down from GBP134.6 million at September 30 last year. Says decline can be attributed to Covid-19 related market sentiment. Rent collection for year to March 31 at 92%, while first quarter to March 31 at 73%. Expects to declare a final dividend of 4p per share for the year.
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KEFI Gold & Copper PLC - gold explorer in Ethiopia and Saudi Arabia - Sees positive phase 3 drilling results at Hawiah copper-gold project in Saudi Arabia. Says preliminary feasibility study has kicked off with a potential lodgement of a mining licence application targeted for mid-2022 and the start of development in 2023.
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GYG PLC - yacht maintenance company - Says it has been made aware that administrators have been appointed at the Nobiskrug Shipyard in Germany. says it has three active contracts in the shipyard, with invoices outstanding, totalling approximately EUR2.8 million. "The company is in discussions with the various parties involved with a view to agreeing a programme of works and payment schedule for completion of the contracts which both minimises GYG's financial exposure and achieves a satisfactory outcome for the end clients," says GYG. Announces delay to full-year results, but did not give new date.
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Alba Mineral Resources PLC - mineral exploration and development company with assets in Greenland and the UK - Announces that the evaluation pitting of the historic waste rock dump at the Clogau-St David's gold mine in North Wales will start soon. Nine pits are to be dug, with around 15 tonnes of material to be extracted per pit. "We are constantly looking for ways to unlock early revenue streams at Clogau-St David's while we continue with our work to prove up, through drilling, the new gold-bearing zones within the mine complex which will ultimately justify a decision to reopen the mine for long-term commercial production," says Alba.
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US Solar Fund PLC - Americas-focused utility-scale solar power plant investor - Announces placing programme to be conducted over next 12 months. Says the proceeds are expected to be used to fund two transactions which should benefit the company "by reducing gearing, enhancing dividend coverage, being NAV accretive and increasing the size and diversification of the portfolio and the company".
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SigmaRoc PLC - London-based building materials company - Posts pretax profit for 2020 of GBP7.2 million, rising from GBP2.2 million a year prior. Revenue increases to GBP124.2 million from GBP70.4 million. Does not declare a dividend for the year, unchanged from 2019. "The outlook therefore remains positive and above all exciting," says SigmaRoc.
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Open Orphan PLC - pharmaceutical services provider - Announces potential demerger of some non-core intellectual property and development assets, including HVO-001 which has potential application in the treatment of respiratory disease. "I am delighted that we are putting in place the first steps needed to enable the monetisation of some of our non-core assets. Over the last year we have been busy transforming Open Orphan into a profitable enterprise with a world leading position testing vaccines and antivirals using human challenge studies. We now have an opportunity to deliver significant further shareholder value by the Demerger of these non-core assets," says Chair Cathal Friel.
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Rambler Metals & Mining PLC - Ming copper-gold mine in Newfoundland & Labrador, Canada - Announces it has closed the previously announced sale of non-core assets to Maritime Resources Corp for USD2.0 million in cash and CAD500,000, around GBP290,045, in Maritime shares.
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Audioboom Group PLC - London-based podcasts producer - Announces global ad sales partnerships to increase podcast monetisation. This includes partnerships with MAPP Media in the UK and Ideabrew Studios in India, plus the expansion of the Company's commercial partnership with the Australian Radio Network in Australia. "Our sales partners in Australia, the UK and India are experts at monetising podcasts, and combined with Audioboom's scale will deliver strong value to our original podcasts and independent creators. These strategic partnerships enable global growth in an efficient and smart way," says CEO Stuart Last. Additionally announces partnership extensions with True Crime Obsessed and The Morning Toast, a new development and production deal with The Obsessed Network, and the launch of Dark Air.
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Metals Exploration PLC - natural resources firm with assets in Pacific Rim - Announces gold sales if first quarter of 18,316 ounces, down from 20,295 ounces a year prior, at n average gold price of USD1,788 per ounce, down from USD1,869. Gold sales fall to USD32.8 million from USD37.9 million. "Following on from our record quarter in Q4 2020 we are very pleased to report further excellent progress during Q1 2021 with gold sales continuing to be strong with 18,316 ounces sold during the quarter. It is also very pleasing to have achieved these results despite the ongoing challenges and impact of Covid-19," says CEO of Metals Exploration Darren Bowden.
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IQ-AI Ltd - medical software company with headquarters in Jersey - Commits to financing of phase 1 study for drug candidate in the treatment of glioblastoma. "Current treatment protocols for GBM have done little to reduce mortality. The pre-clinical trial produced promising results, but we cannot know whether these results are replicable in humans until clinical trials are completed," says IQ-AI.
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Tiziana Life Sciences PLC- London-based therapeutics for oncology, inflammation and infectious diseases - Announces plan of former subsidiary Accustem Sciences Ltd to list on Nasdaq Stock Market shortly after completion of the distribution of shares in Accustem to Tiziana shareholders.
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Competition & Markets Authority - UK watchdog - Considers anticipated purchase of CK Hutchinson Networks Europe by Cellnex UK, and whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.
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Scapa Group PLC - Manchester-based medical devices and industrial adhesives - Schweitzer-Mauduit acquisition of Scapa Group expected to take place on Thursday.
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Rurelec PLC- power generator and power plants developer based in London - Announces resignation of Senior Independent Director Brian Rowbotham. Currently looking for a replacement.
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Sterling Energy PLC - oil and gas company with exploration asset in Somaliland - Announces its intention to change its name to Afentra plc and adopt new articles of association. The proposed change of name and new articles requires shareholder approval at a general meeting to be held on April 30.
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By Greg Roxburgh; gregroxburgh@alliancenews.com
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