(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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Caledonia Mining Corporation PLC - Jersey, UK-based gold producer with operations in Zimbabwe - Signs zero cost contract to hedge 25% of its 2022 target production at the Blanket mine in Zimbabwe. The contract is a cap and collar hedging contract for 20,000 ounces of gold. The contract runs over a period of 5 months from March to July. It has a cap of USD1,940 and a collar of USD1,825.
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Enteq Technologies PLC - Ascot, England-based energy services technology supplier - Says sales and orders since September 30 have continued in-line with its previous interim update. Company says this is primarily due to an increase in active drilling rigs and tightening of surplus capacity in North America. Notes continued progress at the Saber field-testing and development programme.
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Caerus Mineral Resources PLC and Bezant Resources PLC - London-based mining companies - Jointly report that independent laboratory assays have been received for both dump sampling and drilling at the Troulli, Kokkinapetra and Anglisides copper-gold joint-venture projects in Cyprus. At the Troulli project, stock pile sampling returns an average grade of 1.2% copper and positive copper and gold mineralisation drill results outside main the Troulli deposit area. At the Kokkinapetra project, drilling of a 1.5 kilometre strike length returns "extremely encouraging" drill results including 0.85% copper equivalent over 28.10 metres from surface and 1.0 grams per tonne of gold over 10.8 metres. Returns equally encouraging results at Anglesides project with a peak intercept of 1.2% copper equivalent over 40 metres from surface.
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Live Co Group PLC - Surrey, England-based live events and entertainment company - Signs contract for its first live show since the start of the pandemic. "Bricklive in the Park" show is to take place in August and, the company says, may potentially be multi-year. Does not disclose the financial details of the contract but says revenue will be generated through ticket sales, retail stands and sponsorship.
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Block Energy PLC - London-based oil and gas company focused in Georgia - Reports production from well JKT-01Z continues at a rate of 310 barrels of oil equivalent per day, comprising of 182 barrels of oil per day and 21,800 cubic metres of gas per day. Adds that drilling at well WR-B1 is "advanced".
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Braime Group PLC - Leeds, England-based metal presswork manufacturer - Says that in the course of construction at its freehold property in Leeds, builders have encountered an unmarked well which has caused delays to the work. Completion of the warehouse is now expected in the summer. Construction is for the redevelopment of the rear of the property.
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Mila Resources PLC - London-based gold company focused on Australia - Intersects 7.4 metres of sulphide mineralisation from 178 metres from its first drill hole at the Kathleen Valley gold project in Western Australia. Says diamond core hole KVRD024 drilled to twin the gold-silver-zinc rich reverse circulation hole KVRC019 and returned 10 metres at 8.4 grams per tonne of gold, 14 grams per tonne of silver and 0.9% zinc from 165 to 175 metres.
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Costain Group PLC - Maidenhead, England-based construction and engineering company - Reaches final settlement with National Grid regarding the legacy Peterborough and Huntingdon contract. The settlement brings an end to the dispute after the contract was terminated in June 2020 and prevents any further claims under the contract. Constain makes a final payment of GBP43.4 million to National Grid.
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Seeing Machines Ltd - Canberra, Australia-based AI technology company - Will deliver its eye-tracking solution to Air Ambulance Victoria in Australia through a AUD1 million 10-year contract. Company says the technology aims to reduce the risk of pilot fatigue and will be retrofitted into Air Ambulance Victoria's aircraft. The first installation will be operational by the end of the year, Seeing Machines says, with the remaining three aircraft scheduled for 2023.
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Tertiary Minerals PLC - Cheshire, England-based precious metals mining company - Says drill pad construction and site access is complete at its Pyramid silver-gold project in Nevada, US. Surface mineralisation has been shown to extend over a strike extent of at least 530 metres at the North Ruth target, with grades as high as 595 grams per tonnes of silver and 0.66 grams per tonne of gold intersected in exploration trenches, company says. Adds that Envirotech Drilling LLC will mobilise and begin drilling at the site in the second week of March.
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Diversified Energy Company PLC - Alabama, US-based oil and gas company focused in the US - Closes a USD160 million sustainability-linked asset backed securitisation of certain Barnett shale assets in Texas. The assets were previously pledged as collateral under the company's revolving credit facility. The company says it will use the asset backed securitisation proceeds to reduce its revolving credit facility borrowings.
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Eco Atlantic Oil & Gas Ltd- London-based oil and gas company focused in Africa - Says that Solear Ltd has sold the Kozani project in Greece for EUR1.8 million to London-based investment company Nepcoe Capital Partners Ltd in partnership with PowerChina New Energy Power Co Ltd, a Chinese state-owned construction and renewable energy infrastructure company. Company says the transaction enables the re-payment of this consideration to Eco Atlantic as a result of a shareholder loan given by Eco Atlantic to Solear in January 2021. Adds that the disposal represents a 25% margin on the initial acquisition price of the Kozani project.
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Capital Ltd - Mauritius-based drilling services contractor - Completes share buyback programme originally announced on January 4. The company purchases 2 million shares for a total cost of USD2.5 million.
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LXi REIT PLC - London-based real estate investment trust - Announces forward funding property acquisitions totalling GBP26 million. The acquisitions are funded by the company's GBP250 million equity capital raise. Says it reflects an 5% accretive net initial yield. For each of these forward funding acquisitions, LXi says full planning consent is in place and that the agreements for lease have been exchanged. The properties are a Tesco PLC foodstore, a Home Bargains store, and Co-Operative Food Group Ltd leased store.
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Tirupati Graphite PLC - Mumbai-based graphite and graphene company - Announces that Tirupati Speciality Graphite Private Ltd, a company with which Tirupati has a 100% acquisition agreement, has signed an exclusive UK marketing and distribution agreement with Minralis Ltd for its graphite-based CarboflameX and GrafEN 45545 products. The first order from Minralis for 66 tonnes of CarboflameX, valued at USD200,000, is expected to be completely delivered by mid-March.
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Poolbeg Pharma PLC - London-based pharmaceutical company - Signs agreement with OneThree Biotech Inc, a New York-based drug discovery company, to identify new drug targets and treatments for respiratory syncytial virus. OneThree Biotech's AI analysis tools will be used to identify drug assets which target immune-response pathways, have a higher probability of clinical success and have the potential to prevent and/or treat infectious diseases. The analysis is expected to commence in the first quarter of 2022, with preliminary outputs expected in the second half of the year.
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W Resources PLC - London-based tin and gold mining company with projects focused in Spain and Portugal - Says that discussions regarding the fund raise announced on February 15 - expected to be in the form of debt - are progressing well, with the documentation being finalised. Company expects to announce the details of the fundraise in the next few days.
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Mast Energy Developments PLC - London-based developer of reserve power generations plants - Says its 100% owned 5 megawatt Bordesley project was successful in securing a 15-year capacity market contract of GBP30.59 per kilowatt per annum. The company says this will result in an increase of GBP105,935 in annual cashflow or a total of GBP1.6 million in additional income over the 15-year period.
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i3 Energy PLC - Alberta, Canada-based oil and gas company with operations in the UK and Canada - Reports average production of 18,229 barrels of oil equivalent per day in the fourth quarter of 2021. i3 says this represented a 38% increase from 13,239 boepd the previous quarter and generated revenue of USD57.6 million. Adds that full-year net operating income for 2021 is now forecast to be USD66 million, increasing to USD150.3 million in 2022.
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Bluebird Merchant Ventures Ltd - British Virgin Islands-based gold development company focused on Korea - Says it has had productive discussions with Southern Gold with respect to ways that they can be of assistance in progressing its South Korean gold projects to production. Adds it is also in the process of revising its economic model for its South Korean projects to reflect its Kochang project being scheduled towards production.
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Forward Partners Group PLC - London-based investment firm - Announces a GBP7.8 million portfolio company valuation uplift. The increase, the company explains, is a consequence of a portfolio company successfully raising a USD25 million A round. Based upon the valuation implied by the fundraising, the company's holding is worth approximately GBP9.5 million which Forward Partners says represents an 8 times increase on its original investment.
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Bango PLC - Cambridge, England-based technology company - Says that Hertfordshire, England-based communications company Entel has launched a new Apple Music offer through the Bango Platform. The offer is initially in Chile and is the fourth major content service launched by Entel using the Bango Platform, the company says. Does not disclose financial details of the deal.
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Resolution Life Group - Bermuda-based life insurance company - Acquires the Superannuation & Investments business of Melbourne-based life insurance company AIA Australia Ltd for an undisclosed amount. The acquisition increases the company's asset under management and administration by AUD8.2 billion, around USD5.9 billion. AIA's Superannuation & Investment business will be fully integrated into Resolution Life's local business operations.
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Enwell Energy PLC - London-based oil and gas company - Shuts down its field and drilling operations at its Mekhediviska-Golotvshinska site, its Svyrydivske and Vasyschevskoye gas and condensate fields and its Svystunivsko-Chervonolutskyi exploration licence in light of Russian military activity in Ukraine.
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Wise PLC - London-based financial technology company - Appoints current finance director Kingsley Kemish as interim chief financial officer following CFO Matthew Briers's cycling accident.
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By Heather Rydings; heatherrydings@alliancenews.com
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