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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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Bivictrix Therapeutics PLC - Cheshire-based cancer-therapies focused biotechnology company - Preclinical study shows Bivictrix's lead candidate BVX001 has favourable safety profile compared to Mylotarg, which is "the only approved antibody-drug conjugate indicated for the treatment of acute myeloid leukaemia," a cancer of white blood cells. Bivictrix will progress BVX001 into the clinic for patients with acute myeloid leukaemia. The study evaluated the risk for neutropenia, a condition in which someone has a low number of white blood cells called neutrophils in their blood. Chief Executive Officer Tiffany Thorn says: "Receiving these positive preclinical safety results, soon after identifying a development lead for BVX001, reinforces the superior cancer selectivity of our Bi-Cygni approach - designing drugs with reduced toxicity on normal cells. These findings move us another step closer to the clinic and provide further evidence that our first-in-class platform offers the potential to deliver the next generation of highly selective, anti-cancer therapies."
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Bushveld Minerals Ltd - South Africa-focused vanadium producer and energy storage provider - Notes 2022 production of 3,842 metric tonnes of vanadium, slightly below guidance and 6.5% lower than 3,592 metric tonnes a year ago. In the fourth quarter to December 31, production climbs 17% to 1,184 mtV from 1,016 mtV a quarter ago. Aims to increase production in 2023 by at least 9.3% between 4,200 mtV and 4,500 mtV, with volumes weighted towards the second half. Bushveld Minerals adds: "The company targets a sustainable production run rate of 5,000 to 5,400 mtV over the near term, as well as continued focus on efficiencies and cost-saving initiatives."
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Hochschild Mining PLC - Americas-focused silver and gold miner - For 2022, output of 358,826 gold equivalent ounces falls short of outlook, which was 360,000 to 375,000 ounces. Expects 2022 all-in sustaining costs to be in line with outlook range, which was USD1,330-1,370 per gold equivalent ounce. Expects to produce between 301,000 and 314,000 ounces of gold equivalent in 2023, down at least 12% from 2022.
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Metals Exploration PLC - London-based, Philippines-focused gold producer, flagship project is Runruno deposit, a conventional drill and blast open-pit mine located 205 kilometres north of Manila in the mineral-rich province of Nueva Viscaya - Gold revenue in the fourth quarter to December 31 jumps 60% to USD41.1 million, from USD25.7 million a quarter ago. Fourth quarter gold sales are 23,608 ounces at average price of USD1,742 per ounce. Meanwhile, fourth-quarter positive cash flow jumps to USD18.0 million, up from USD4.2 million in the third quarter. Net debt narrows to USD81.1 million as at December 31 from USD92.4 million on September 30. Fourth quarter gold production climbs 62% to 25,474 ounces, from 15,715 in the third quarter. 2022 gold production of 72,527 ounces was at USD1,235 per ounce cost. Expects a 2023 gold production of between 68,000 and 72,000 ounces, at least 0.7% lower than in 2022, at a cost of USD1,250-1,300 cost per ounce, at least 1.2% more expensive than in 2022. Further, company highlights recognition it received from the Philippines' government, noting the importance of health and safety.
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Mortgage Advice Bureau Holdings PLC - Derby, England-based mortgage adviser - Revenue in 2022 rises 22% to GBP230 million from GBP188.7 million in 2021. Expects that its 2022 adjusted pretax profit is in line with expectations. In 2021, the company had reported an adjusted pretax profit of GBP24.2 million. Number of advisers climbs 20% to 2,254 in 2022 from 1,885 in 2021. Mortgage rates stabilise following UK autumn statement. Looking into 2023, Mortgage Advice Bureau expects mortgage rates to increase and for lending conditions to improve. "As anticipated, our congested pipeline of written new business started completing at a faster pace in the fourth quarter due to lower new business levels freeing-up conveyancing capacity to process cases. We also expect this improving trend to continue through 2023," the firm says. Company will release its full-year results on March 28.
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By Tom Budszus, Alliance News reporter
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