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Pin to quick picksKefi Gold Share News (KEFI)

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TRADING UPDATES: Permanent TSB sells loan portfolio; Dekel output up

Wed, 10th Nov 2021 18:22

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

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Permanent TSB Group Holdings PLC - Dublin-based personal and small business bank - Sells loan portfolio to Morgan Stanley Principal Funding Inc. Portfolio had gross balance sheet value of EUR390 million. Notes 98% of loans categorised as non-performing. "The remaining 2% comprise loan products which originated pre 2009 and which are no longer available to new customers. Typically these are interest only or part capital & interest loans where the borrower and the bank have failed to agree a plan which will ensure the repayment of the outstanding balance (often the original amount which was borrowed) at the end of the agreed loan term," company adds.

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Dekel Agri-Vision PLC - West Africa-focused agriculture company - Crude palm oil output rises 28% year-on-year in October to 2,331 tonnes. Sales improve 25% to 2,301 tonnes. Price per CPO tonne up 51% EUR960 from EUR636 a year earlier. "A year of strong production and even stronger prices continues to set Dekel up for a record year of financial performance in our palm oil operation in 2021. Given current prices remain materially higher than we achieved in this year's high season earlier in the year we remain optimistic of a further uplift in the financial performance of the palm oil operation in 2022," says Executive Director Lincoln Moore.

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Power Metal Resources PLC - exploration company seeking metal discoveries in the US, Australia and Africa - Expands uranium exploration portfolio at Athabasca basin in Canada. Land holdings increase by 144.84 square kilometres to a total of 411.96 square kilometres. "The additional areas staked by the company are prospective for uranium and base-metals," Chief Executive Officer Paul Johnson says.

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Pembridge Resources PLC - London-based investor in Minto Explorations Ltd - Says TSX Venture Exchange conditionally accepts reverse takeover of 1246778 BC Ltd by Minto Explorations. "This conditional acceptance by TSXV clears an important hurdle in Minto's path to being a listed company and we appreciate the work that has been done by Minto and its advisors on the RTO and listing process," Pembridge Chair & Chief Executive Gati Al-Jebouri says.

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Kefi Gold & Copper PLC - gold explorer in Ethiopia and Saudi Arabia - Says final assay results received for phase 4 drilling campaign at Hawiah copper and gold project in Saudi Arabia. An updated mineral resource estimate is expected in December. "The updated MRE is expected to include the additional resources previously defined in the phase 3 drilling programme, as well as material in the indicated category where in-fill drilling has taken place," Kefi says. Phase 4 assays signal "overall increase in the resource grades for copper, zinc, gold, and silver", company adds.

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PureTech Health PLC - Massachusetts, US-based biotechnology company - Sells 750,000 shares in founded entity Karuna Therapeutics, pocketing USD100 million. "PureTech intends to use the proceeds from the Transaction to further the advancement and growth of the company and will update its cash runway guidance in due course," PureTech says. Now has 5.6% Karuna stake.

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Image Scan Holdings PLC - Leicestershire, England-based X-ray imaging systems provider - Awarded contract to supply a portable X-ray scanning system to a US federal agency. "The contract is the first part of a framework order that could lead to the purchase of a further twelve systems," Image Scan says. In addition, company named global distributor for Serstech AB, a technology company working in the field of chemical analysis in Sweden. Company says: "Under the agreement, Image Scan will market Serstech's range of highly portable chemical analysers to bomb squads, hazardous material investigation teams and customs organisations through its global distribution network. In different scenarios, the technology is used to identify explosives, explosive precursors, chemical spills, and illegal drugs."

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Enteq Technologies PLC - Buckinghamshire-based oil and gas services provider - Signs two exclusive distribution agreements with third-party technology providers. These "enhance and complement Enteq's product range". One deal has been struck with Texas-based Erdos Miller Inc. It will be "exclusive distributor outside North America for two of their major product lines". In addition, strikes deal with Alberta, Canada-based Mezintel Inc "for their gamma logging and depth tracking software solutions".

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Evgen Pharma PLC - Liverpool-based sulforaphane based medical drug developer - Notes data on preclinical models of glioblastoma published at universities of Aquila, Rome and Rieti in Italy. Glioblastoma, or GBM, is an aggressive type of cancer. Data finds anti-tumour activity by Evgen's SFX-01 asset. "The in vitro data, in GBM cells and patient-derived glioma-initiating cells, show anti-tumour activity of the company's lead asset SFX-01. The work goes on to show in vivo anti-tumour activity in both sub-cutaneous and orthotopic xenograft (tumour cell lines are implanted in the brain) models of GBM," Evgen says.

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Insig AI PLC - London-based machine learning and data science firm serving asset management industry, formerly known as Catena - Delivers environmental, social and corporate governance scoring platform to alternative investment manager CarVal Investors LP. Notes CarVal's ESG risk assessment model includes carbon emissions, health and safety labour management, board composition and raw material sourcing.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Kefi Gold announces significant discovery in Saudi Arabia

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Kefi Gold & Copper up after further discovery by Hawiah joint venture

(Alliance News) - Shares in Kefi Gold & Copper PLC rose nearly 10% on Monday, after the company reported that its Saudi Arabian joint venture had discovered an additional deposit.

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Kefi reports progress on Tulu Kapi Gold Project

(Sharecast News) - Gold and copper explorer and developer Kefi updated the market on the progress of its Tulu Kapi Gold Project in Ethiopia on Tuesday.

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Kefi Gold & Copper shares up as Tulu Kapi prepares for launch

(Alliance News) - Shares in Kefi Gold & Copper PLC rose on Tuesday, after the company noted progress on the multi-party financing package for its Tulu Kapi gold project.

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AIM WINNERS & LOSERS: Kefi jumps as Tulu Kapi funding closer

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Kefi Gold & Copper says Jibal gold project making "excellent progress"

(Alliance News) - Kefi Gold & Copper on Tuesday said that its Saudi gold development project was "starting to shape up its plans for production", after recent drill works revealed a high-grade deposit.

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IN BRIEF: Kefi says Tuly Kapi project progressing towards launch

Kefi Gold & Copper PLC - Cyprus-based gold exploration company, focused on assets in Ethiopia and Saudi Arabia - Says its Tulu Kapi gold project financing agreements are in "near-final form". This comes after Kefi Gold reported earlier this month that its lead lender had approved a conditional final credit committee. The company said that the USD320 million financial packages will go towards its "shovel-ready" Tulu Kapi project in western Ethiopia. The project has already received approval from "key syndicate members", the company said, and Kefi believes that reported actions by the Ethiopian Government indicate its assent. Adds that its 25% owned Jibal Qutman gold and Hawiah copper-gold development projects are undergoing feasibility studies. Kefi also says it is targeting the launch of the projects.

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Kefi Gold receives lender approval for Tulu Kapi gold credit committee

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IN BRIEF: Kefi Gold & Copper shares rise as regulatory issues resolved

Kefi Gold & Copper PLC - Ethiopia and Saudi Arabia-focused gold exploration and development company - Receives formal confirmation from the National Bank of Ethiopia of details for the operation of offshore banking by its operating subsidiary Tulu Kapi Gold Mines Share Co and its project finance banks. Says this clarifies the operational details for the implementation of the policies set out in the recently published National Bank of Ethiopia Directives, waiving mining projects from foreign exchange control and capital controls. As a result, Tulu Kapi is now fully-permitted, with only procedural administrative confirmations remaining. Consequently, the project finance banks can proceed to final credit approval for the project's USD190 million secured debt package. Upon approval, the project's debt terms will have been resolved, as will the structure of the overall USD390 million finance plan. Notes this is a "pivotal" formal step for project launch. Expects full project launch to begin in the current quarter.

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