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TRADING UPDATES: Anglo Asian touts intercepts; Netcall backs guidance

Thu, 08th Dec 2022 17:45

(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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Anglo Asian Mining PLC - Gold, copper and silver producer focused on Azerbaijan - Confirms over 60 metres of thick and continuous gold and copper mineralisation at its Gilar deposit in the Gedabek contract area. Drilling has demarcated six zones of mineralisation, with key results including 51.0 metres at 2.54 grams a tonne of gold, 2.0% copper, and 2.1% zinc at 1.0 grams gold cut-off from 335 metres. The company is now planning a project for underground access, with a tunnel suitable for production.

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Galileo Resources PLC - Mining company focused on US and Africa - Says detailed reconnaissance mapping and sampling over its Kamativi lithium project in Zimbabwe has identified four target zones with potential for pegmatite-hosted lithium, tin and tantalum. Meanwhile, possible visual identification of spodumene and petalite mineralisation in rock chip samples from one site will require laboratory confirmation. The company has a current interest of 29% in the project, held through its interest in BC Ventures, along with an option to earn an additional 51% interest.

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Mast Energy Developments PLC - London-based developer of reserve power generations plants - Says it is now fully optimised and has been granted a gas connection route on its Bordesley peaking power project in Birmingham. The company has also received approval from network supplier, Cadent Gas, for the required pressure and volumes of gas to fuel the project. It has also concluded an EPC contract optimisation with Clarke Energy, which is expected to improve the overall financial feasibility of the project. The project's debt funders, Close Brothers, will now resume their due diligence with an anticipated financial close targeted during the first quarter of 2023.

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Tern PLC - Investor focused on the internet of things - Says that Wyld Networks AB, of which it holds 47% equity, has launched its satellite IoT network service providing 100% global connectivity for the IoT. Wyld has established agreements with over 40 launch partners, along with a SEK34 million backlog of purchase orders for its Wyld Connect IoT module and data service.

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CT Automotive Group PLC - Designer, developer and supplier of interior components to the automotive industry - Says it experienced a return of supply chain disruptions towards the end of the financial year, with delays in the start of production on new orders incurring costs in connection with Tooling. Associated revenue will now be delayed to the 2023 financial year. Further, revenue for the 2022 financial year is expected to be lower at USD120 million. Higher costs will lead to an expected pretax loss of around USD11.0 million.

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Aferian PLC - B2B video streaming solutions company - Says trading for the year ended November 30 has finished in line with expectations. The board anticipates announcing its full-year results consistent with previous guidance ranges. Adjusted operating profit is expected in the range of USD7.8 million to USD8.8 million. Total revenue is expected to be around USD91 million, representing a 2% decrease on the prior year, while net cash should be slightly higher than guidance at USD4 million. This follows "better than expected" cash collection from customers.

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Netcall PLC - Bedford-based customer engagement software provider - Reports "solid trading momentum" in the first half of the financial year, in line with management expectations. Demand for its cloud solutions continues to increase, leading to strong revenue growth, with a substantial increase in new customer wins during the trading period. Looking ahead, the group said that it is confident of "sustained success" on the basis of its growing pipeline of opportunities.

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By Holly Beveridge; Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2022 Alliance News Ltd. All Rights Reserved.

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13 Jun 2024 08:21

IN BRIEF: Mast Energy says Pyebridge plant overhaul progressing well

Mast Energy Developments PLC - developer of reserve power generation plants - Expects the first generator set at its 9-megawatt Pyebridge flexible power plant in Derbyshire to start commercial operations and revenue generation around end of this month, in line with the expected timeline. The second phase work programme to refurbish this first genset is progressing well, Mast says. Back in April, it had said the phase two work would be performed in separate consecutive tranches and was expected to take around six to eight weeks per genset.

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23 May 2024 15:38

UK shareholder meetings calendar - next 7 days

Friday 24 May 
Fiinu PLCAGM
Intertek Group PLCAGM
Keywords Studios PLCAGM
Northamber PLCGM re issue of shares for acquisition
Monday 27 May 
no events scheduled 
Tuesday 28 May 
Apollon Formularies PLCEGM re withdrawal from Aquis
Diversified Energy Co PLCGM
TMT Investments PLCAGM
Wednesday 29 May 
B&M European Value Retail SAAGM
Biome Technologies PLCAGM
Frenkel Topping Group PLCAGM
Glencore PLCAGM
Ilika PLCGM re equity raise
Integrated Diagnostic Holdings PLCAGM
Smarttech247 Group PLCAGM
Watchstone Group PLCAGM
Xaar PLCAGM
Thursday 30 May 
Aferian PLCAGM
Ashtead Technology Holdings PLCAGM
Bodycote PLCAGM
Endeavour Mining PLCAGM
Ferguson PLCEGM re merger agreement
Kelso Group Holdings PLCAGM
Learning Technologies Group PLCAGM
LifeSafe Holdings PLCGM re retail offer
Mast Energy Developments PLCAGM
National World PLCAGM
One Media iP Group PLCAGM
RM Infrastructure Income PLCAGM
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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21 May 2024 08:45

Kibo unit Mast Energy mulling options against joint venture partners

(Alliance News) - Mast Energy Developments PLC said Tuesday it is considering various options after Proventure Holdings (UK) Ltd failed to "remedy" its "material breach" of the joint venture agreement.

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7 May 2024 09:20

Mast Energy shares tumble after new share plan and loan deal

Mast Energy Developments PLC said on Tuesday its Chief Executive Officer Pieter Krugel will partially settle GBP325,000 loan with RiverFort Global Opportunities PLC, the institutional lender, under a "reprofiling agreement".

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30 Apr 2024 10:53

Mast Energy annual loss widens on Pyebridge plant setback, high costs

(Alliance News) - Mast Energy Developments PLC on Tuesday reported that its annual loss worsened after its 9-megawatt Pyebridge flexible power generation plant ran into technical and market related challenges.

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26 Apr 2024 08:30

IN BRIEF: Kibo unit Mast Energy passes satisfactory performance test

Mast Energy Developments PLC - developer of reserve power generation plants - Receives official confirmation that its 9-megawatt Pyebridge flexible power plant has passed its "satisfactory performance days" requirements under its current existing T-1 capacity market contract. This means that Pyebridge will retain the current capacity market contract's associated annual gross profit margin income of GP308,000, which is paid and received monthly in arrears.

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11 Apr 2024 08:28

IN BRIEF: Mast Energy finishes phase one work at Pyebridge plant in UK

Mast Energy Developments PLC - developer of reserve power generation plants - Says phase one work programme at its 9-megawatt Pyebridge flexible power generation plant in Derbyshire, England is completed ahead of schedule. Plans to start second phase work programme shortly. Says the phase two will be performed in separate consecutive tranches and is expected to take around six to eight weeks per generator set. Notes the cost of the second phase will be funded under the new funding agreement it recently announced. Mast Energy signed an initial funding facility up to GBP4.0 million with RiverFort Global Opportunities PCC Ltd, earmarked for Pyebridge.

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28 Feb 2024 10:44

IN BRIEF: Kibo unit Mast Energy inks new GBP4 million funding deal

Mast Energy Developments PLC - London-based subsidiary of Kibo Energy PLC, a Galway, Ireland-based company with energy projects in Africa and the UK - Signs a funding agreement, with an initial funding facility up to GBP4.0 million, with RiverFort Global Opportunities PCC Ltd. RiverFort owns around 12% stake in in Kibo and Mast. Says initial funding will be used to lift its Pyebridge 9-megawatt flexible power generation asset out of care and maintenance. Says further funding of up to GBP4 million will be used to fund Pyebridge's overhaul work programme in order to achieve full generation.

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8 Jan 2024 10:20

AIM WINNERS & LOSERS: CMO battles construction sector headwinds

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.

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8 Jan 2024 07:48

Kibo and Mast Energy still await Proventure joint-venture payment

(Alliance News) - Mast Energy Developments PLC on Monday said its partner Proventure Holdings (UK) Ltd still has not made a partial initial interim payment required under their joint venture agreement.

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2 Jan 2024 07:38

Joint-venture partner Proventure misses Mast Energy payment again

(Alliance News) - Mast Energy Developments PLC on Tuesday said partner Proventure Holdings (UK) Ltd missed the latest deadline to make a partial initial interim payment required under their joint venture agreement.

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22 Dec 2023 09:08

Kibo unit Mast Energy extends deadline for JV payment after assurances

(Alliance News) - Mast Energy Developments PLC on Friday said it gave partner Proventure Holdings (UK) Ltd more time to make the initial interim payment of GBP2 million required under their joint venture agreement.

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15 Dec 2023 21:39

IN BRIEF: Mast Energy Developments shareholder provides loan

Mast Energy Developments PLC - London-based subsidiary of Kibo Energy PLC, a Galway, Ireland-based company with energy projects in Africa and the UK - Announces that Paulus Fillippus Venter, a non-executive director and significant shareholder, has provided MED with a director loan amounting to GBP81,329. The proceeds of the loan will be used for MED's working capital requirements. In order to fund the loan, Venter has sold 14.0 million shares of his total holding of 17.7 million. No fixed term of repayment while interest shall accrue at 7% per annum.

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11 Dec 2023 08:14

Mast Energy gets confirmation of GBP2 million initial JV payment

(Alliance News) - Mast Energy Developments PLC on Monday said it has received "sufficient" verbal and written confirmation from joint venture partner Proventure Holdings (UK) Ltd, and other funders that the initial interim payment of GBP2 million will be paid between this coming Friday and Wednesday next week, subject to signature of definitive agreements.

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1 Dec 2023 10:46

Mast Energy "very disappointed" as Proventure skips JV payments

(Alliance News) - Mast Energy Developments PLC shares fell on Friday as it and Kibo Energy PLC said joint venture partner Proventure Holdings (UK) Ltd has failed to make payments needed to complete the deal.

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