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Pin to quick picksMkango Res Share News (MKA)

Share Price Information for Mkango Res (MKA)

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Share Price: 7.10
Bid: 6.70
Ask: 7.50
Change: 0.15 (2.16%)
Spread: 0.80 (11.94%)
Open: 6.85
High: 7.10
Low: 6.75
Prev. Close: 6.95
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UK TRADING UPDATE SUMMARY: Softcat Cancels Interim Dividend Payout

Tue, 31st Mar 2020 18:31

(Alliance News) - The following is a round-up of updates by UK companies on the impact of the Covid-19 pandemic, issued on Tuesday and not separately reported by Alliance News:

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Softcat PLC - infrastructure services - cancels interim dividend of 5.4 pence per share in order to protect cash position.

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Castings PLC - iron castings and machining - Unable to predict impact on business for 2021 financial year. Experienced lower output levels in third quarter of year ended March 31. Expected increased demand in final quarter, but outbreak affecting truck sector significantly. Reduced production levels to meet lower demand.

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Mkango Resources Ltd - rare earth minerals - Remains focused on feasibility study for Songwe Hill rare earths project in Malawi, but now expects completion of study in second half of 2021.

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Leeds Group PLC - fabrics distribution - Activities in Germany severely affected by country wide lockdown. Expects to report substantial loss for year ending May 31.

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Ingenta PLC - software and services - Postpones publication of 2019 results, expects to report revenue of GBP10.9 million, and adjusted earnings before interest, taxes, depreciation and amortisation at GBP1.3 million. Revenue for 2018 was GBP12.0 million, while adjusted Ebitda was GBP769,000.

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Phoenix Global Resources PLC - Argentine-focused upstream oil & gas - Reducing its capital expenditure programs and exploring other cost saving methods. Plans to restructure the existing convertible credit facilities agreements with Mercuria Energy Netherlands.

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Horizonte Minerals PLC - nickel exploration - expects to publish 2019 results within 45-day extension period starting from March 31.

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Regional REIT Ltd - property investor - Confirms fourth quarter dividend payment of 2.55 pence per share. Rent collected for first quarter of 2020 lower year-on-year.

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Predator Oil & Gas Holdings PLC - oil & gas - Enhanced oil project in Trinidad remains on-track for revenue growth, with project economics still attractive despite low oil prices. Rig for drilling Guercif proposect in Morocco stored in yard, ready to be used when travel restrictions are lifted. Still plans to issue 2019 accounts by end of April.

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RPS Group PLC - professional services - Annual general meeting to still take place on April 30.

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AfriTin Mining Ltd - tin mining - Uis tin mining suspended due to 21-day Namibia lockdown, but will continue feeding the processing plant from the run-of-mine stockpile during this period.

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Trafalgar Property Group PLC - property development and hydroponics - Continues discussions for sale of three unit development in Ashtead Surrey, ceases move to acquire land at Staplehurst, UK. Will not raise funds to develop hydroponics strategy until it can be completed at suitable price.

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Science Group PLC - science-based consultancy - Trading in first quarter of 2020 in line with expectations, product development business Sagentia a part of UK government's Rapidly Manufactured Ventilator System. Manufacturing contract in negotiation stages. Underlying outlook unpredictable.

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Empyrean Energy PLC - oil & gas - Gaffey Cline & Associates to publish updated Competent Persons Report for Mako gas field in Indonesia despite travel restrictions. Seismic inversion work on block 29/11 offshore China not delayed by outbreak. Drilling of first well still scheduled between December 2020 and May 2021, but subject to revision.

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Aquila European Renewables Income Fund PLC - renewable energy investment - Affirms ability to meet planned 2020 dividend payout, no project development risk for existing investments due to current market conditions.

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Jersey Electricity PLC - Jersey-focused electricity supply - Defers planned 2.5% tariff rise which was to take effect from April 1, leading to estimated cost of GBP1 million for second half of financial year ending September 30. Expects to publish interim results in mid-May.

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PureCircle Ltd - stevia sweetners - Expects to delay publishing of results for six months to end of December. Publishes results for year ended June 30, 2019. Pretax loss widens to USD72.2 million from USD3.4 million, on revenue down by 2.1% to USD124.0 million.

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By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

More News
10 May 2024 21:08

IN BRIEF: Mkango Resources cuts executive pay to save costs

Mkango Resources Ltd - Vancouver-based mineral explorer and developer with exploration portfolio in Malawi - Reduces executive management salaries by between 25% and 50% each from April through to September this year. Says this is part of its cost-cutting initiatives and complementary to its GBP750,000 private placement announced on April 11. Explains that cutting executive pay "conserves additional working capital to advance the company's assets". Board has also "implemented a bonus scheme in the form of shares to incentivise the executive management team". Mkango notes that non-executive directors, including Non-Executive Chair Derek Linfield, have been foregoing remuneration since January 1.

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11 Apr 2024 16:18

Mkango raises £0.75m to support HyProMag's first commercial sales

(Sharecast News) - Mkango Resources closed a private placing on Thursday, raising £0.75m in gross proceeds to support HyProMag's first commercial sales, among other objectives.

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11 Apr 2024 09:35

Mkango Resources raises GBP720,000 after fees in placing of shares

(Alliance News) - Mkango Resources Ltd on Thursday said that it has closed a GBP750,000 private placement, which included a GBP150,000 investment by Chief Executive Officer William Dawes.

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11 Apr 2024 09:27

AIM WINNERS & LOSERS: Lok'n Store up on takeover offer from Shurgard

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

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25 Mar 2024 12:31

Mkango to begin sales of recycled magnets following fundraising drive

(Alliance News) - Mkango Resources Ltd announced on Monday that it has raised funds totalling GBP900,000.

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11 Mar 2024 15:01

IN BRIEF: Mkango eyes HyProMag feasibility study completion this year

Mkango Resources Ltd - rare earth metals explorer - Says BBA USA Inc and PegasusTSI Inc have been engaged to complete a feasibility study for the HyProMag USA asset. The study concerns the engineering and design of a rare earth element magnet recycling facility. "The feasibility study is expected to be completed during H2 2024. HyProMag USA has the potential to supply the US with a sustainable, long term domestic supply of neodymium/iron/boron permanent magnets to enable the creation of secure, low carbon and traceable rare-earth supply chains," it says. Mkango owns around 79% of Maginitom which in turn owns all of HyProMag. Toronto-listed CoTec Holdings Corp owns around 21% of Maginitom.

Read more
3 Jan 2024 11:47

Mkango announces US HyProMag partnership

(Sharecast News) - Mkango Resources, alongside CoTec Holdings, announced a partnership with Maginito on Wednesday to establish HyProMag USA as a 50-50 joint venture entity.

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3 Jan 2024 10:12

AIM WINNERS & LOSERS: C4X gets Astra payment; Getech wins eight deals

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

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3 Jan 2024 09:26

Mkango subsidiary joins CoTec to promote magnet scrap recycling in US

(Alliance News) - Mkango Resources PLC on Wednesday said that its subsidiary will partner with CoTec Holdings Corp to roll out scrap magnetic recycling technology in the US.

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12 Dec 2023 15:41

Mkango completes first production run of recycled rare earth magnets

(Sharecast News) - Mkango Resources announced on Tuesday that it has completed its first production runs of recycled rare earth magnets, marking a pivotal moment in securing essential raw materials.

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12 Dec 2023 09:32

Mkango celebrates first production of recycled magnets in Birmingham

(Alliance News) - Mkango Resources Ltd on Tuesday announced the first production of recycled rare earth magnets on commercial scale manufacturing equipment in the UK in over 20 years.

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30 Nov 2023 19:57

EARNINGS AND TRADING: Lendinvest completes securitisation

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

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11 Oct 2023 17:24

Mkango Resources hails HyProMag's technology chosen for key project

(Alliance News) - Mkango Resources Ltd on Wednesday said that HyProMag Ltd's rare earth magnet recycling technology has been selected by the Minerals Security Partnership for support as one of its key projects.

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10 Oct 2023 16:36

Mkango reports progress on HyProMag's US ambitions

(Sharecast News) - Mkango Resources, alongside CoTec Holdings, updated the market on the incorporation of HyProMag's rare earth magnet recycling technology in the United States on Tuesday.

Read more
10 Oct 2023 14:28

Mkango rare earth recycling JV advances to feasibility study in US

(Alliance News) - Mkango Resources Ltd on Tuesday said planning for the US feasibility study for its joint venture with CoTec Holdings Corp, HyproMag Ltd, has started, with completion targeted for mid-2024.

Read more

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