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Pin to quick picksMkango Res Share News (MKA)

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Share Price: 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
30 Nov 2020 15:40

IN BRIEF: Mkango Resources Venture Gets UK Grant For Recycling Magnets

IN BRIEF: Mkango Resources Venture Gets UK Grant For Recycling Magnets

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30 Nov 2020 09:07

Mkango investment HyProMag gets grant for magnet recycling project

(Sharecast News) - Mkango Resources announced on Monday that HyProMag and its partners, European Metal Recycling and the University of Birmingham have been awarded a grant from the Industrial Strategy Challenge Fund, delivered by UK Research and Innovation, for a new project, 'Rare-Earth Extraction from Audio Products', or 'REAP'.

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3 Nov 2020 15:57

UK TRADING UPDATE SUMMARY: Creo Makes Up To EUR5 Million Acquisition

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3 Nov 2020 10:19

Mkango begins drilling and sampling programme at Mchinji

(Sharecast News) - Mkango Resources announced the start of an extensive hand-auger drilling and soil sampling programme on Tuesday, to identify rutile prospects within its 869 square kilometre Mchinji licence, EPL 0544/19, in Malawi's Mchinji district.

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15 Sep 2020 11:42

Mkango Hails New Discoveries At Mchinji Asset In Malawi

Mkango Hails New Discoveries At Mchinji Asset In Malawi

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28 Aug 2020 14:43

Mkango Says Malawi Government Satisfied With Songwe Work; Loss Widens

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3 Jun 2020 17:00

UK EXECUTIVE CHANGE SUMMARY: Dialight Hires Coats Group Exec As CFO

UK EXECUTIVE CHANGE SUMMARY: Dialight Hires Coats Group Exec As CFO

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29 Apr 2020 18:58

Mkango Reports Narrowed Annual Net Loss On Lower Costs

Mkango Reports Narrowed Annual Net Loss On Lower Costs

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31 Mar 2020 16:41

Mkango Resources 'working proactively' amid pandemic

(Sharecast News) - Mkango Resources updated the market in response to the Covid-19 coronavirus pandemic on Tuesday, and on timing for completion of the ongoing feasibility study for the 51%-owned Songwe Hill rare earths project in Malawi.

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12 Feb 2020 15:11

Mkango Resources reports results from recent Thambani exploration

(Sharecast News) - Mkango Resources announced results from its recent mineral exploration programme at the Thambani project in southern Malawi on Wednesday, reporting that assay results from 128 rock samples collected during the 2019 exploration programme returned uranium, tantalum and niobium values ranging up to 0.74% triuranium octoxide, 0.41% tantalum pentoxide and 3.24% niobium pentoxide.

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12 Feb 2020 09:51

Mkango Still Exploring Thambani Options As It Extends Mineralisation

Mkango Still Exploring Thambani Options As It Extends Mineralisation

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10 Jan 2020 13:10

Mkango subsidiary buys into UK magnet recycling firm HyProMag

(Sharecast News) - Mkango Resources announced on Friday that its subsidiary Maginito has completed the acquisition of an initial 25% interest in HyProMag - a private, UK-based company focussed on rare earth magnet recycling, as it initially announced on 23 September.

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10 Jan 2020 11:02

Mkango Resources Subsidiary Maginito Acquires 25% Interest In HyProMag

Mkango Resources Subsidiary Maginito Acquires 25% Interest In HyProMag

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7 Jan 2020 11:16

Mkango Resources Hires Tim Slater Of Harmer Slater As Interim CFO

Mkango Resources Hires Tim Slater Of Harmer Slater As Interim CFO

Read more

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