Last checked at 
(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:
----------
MetalNRG PLC - London-based natural resources and energy-focused investor - Says results from geologic soil sampling programme at Gold Ridge property in Arizona, US "support its previous belief that there is a real possibility of a larger undiscovered gold/base metal system". Programme finds "strong gold, copper, lead and zinc mineralisation related to the Mascot Stock". There is also "Strong gold, silver, arsenic, lead and zinc mineralisation related to the Apache Pass Shear zone". Tests also show a new gold, copper, lead and zinc trend in the Precambrian block. Executive Director Rolf Gerritsen says: "We are delighted with these results which confirm that whilst there is follow up work to be carried out, there is a real gold and indeed wider opportunity at Gold Ridge."
----------
Panthera Resources PLC - gold explorer and developer with assets in India and West Africa - Australian unit Indo Gold Pty Ltd preparing to deliver notice of dispute to India's government. Delivery is expected in the fourth-quarter of the year. The dispute concerns an alleged breach by India of a treaty with Australia on the Promotion & Protection of Investments. Panthera adds: "Following the delivery of the notice of dispute and in the absence of any meaningful correspondence in relation to this matter from the government of India or if no amicable settlement is reached, IGPL will subsequently deliver a notice of arbitration to the government of India. Any such notice of arbitration is anticipated to be delivered to the government of India in the first quarter of 2024. Under the Treaty, an arbitral tribunal is to be constituted within two months of delivery of the notice of arbitration." Panthera also notes a Times of India report that the gold deposit at the Bhukia asset "could be worth over USD1 billion", based on information from the Geological Survey of India. Panthera adds: "This valuation has not been independently verified by the company. Accordingly, while at this stage the company is not able to make any comments in relation to the potential quantum of damages that IGPL will claim from India, the company will in due course, announce the actual quantum of damages that IGPL will claim from India when available."
Panthera first invested in Bhukia, via its Australian unit, back in January 2005. A prospecting licence at the asset was rejected by the government of Rajasthan in August 2018 on "various spurious and legally untenable grounds", according to Panthera. Under the terms of an act passed in India in 2021, Panthera believes it has the rights to "fair and equitable compensation, not merely reimbursement of expenditures".
----------
United Oil & Gas PLC - oil and gas company focused on Egypt and Jamaica - In Jamaica, it notes it is currently engaged in discussions with a preferred potential partner to work alongside United Oil in the Walton Morant licence. United Oil adds: "Furthermore, the company is engaging with the Jamaican authorities to secure an extension to the current licence period which expires at the end of January 2024, so as to provide sufficient time to progress additional technical work on the block to support the drilling of an exploration well." In Egypt, working interest production averages 1,024 barrels of oil equivalent per day for the year to November 5, in line with 2023 outlook between 930 to 1,030 boepd. United Oil adds: "The full-year guidance includes production from the current wells and contributions from workover activity currently being undertaken on the fields." It cautions that the macroeconomic environment in Egypt, characterised by reduced US dollar liquidity as deteriorated. Less US dollar liquidity has impacted its ability to repatriate funds from Egypt. "Whilst Egyptian General Petroleum Corp has continued to make regular payments to the company against the receivable balance, including Egyptian pound payments equivalent to USD1.8 million since the 31 October, no USD payments have been received since August 2023," United Oil says.
----------
PCI-PAL PLC - Suffolk, England-based global cloud provider of secure payment solutions for business communications - Revenue in financial year ended June 30 increases 25% to GBP14.9 million from GBP11.9 million. Pretax loss widens to GBP4.9 million from GBP3.1 million, however. Administrative expenses climb 37% to GBP17.9 million. Non-Executive Chair Simon Wilson says: "I continue to be both excited and encouraged by the progress that has been made by the group in FY23, and the board is confident in the outlook and prospects in FY24 and beyond. Given the momentum in the business I look forward to sharing further progress reports and news during the coming year, as we continue our strategic growth journey towards profitability and further scale."
----------
Concurrent Technologies PLC - Essex, England-based designer and manufacturer of computer boards - Launches its "highest performance plug in card" yet. The new offering has "enhanced operational performance unlocked using an emerging cooling technology". It adds: "Previously, the PIC was cooled via conduction, while the new variant uses air flowing through a heat exchanger built into the product. This heat exchanger has been optimised using thermal simulations and verified through extensive testing to ensure it operates at peak performance under harsh environmental conditions. The benefit for customers is that they can extract more performance from the same physical card."
----------
Sareum Holdings PLC - Cambridge, England-based biotechnology firm - Announces first dosing of patients in food effect part of phase 1a probe of autoimmune therapy SDC-1801. This portion of the study probes how food consumption changes, if at all, the efficacy of the product. It will help determine whether the product must be taken on an empty stomach, for example. SDC-1801 will have an initial focus on psoriasis, an autoimmune condition affecting the skin.
----------
Amala Foods PLC - cash shell - Shares in the company are temporarily suspended as it enters into a binding agreement that could lead to reverse takeover of healthcare firm Dialysis Care Plus Inc. DCP is "building dialysis centres in the Philippines where the market for dialysis services is growing substantially every year". Amala adds: "The team has an excellent track record with internationally known healthcare groups in the USA as well as locally in the Philippines. The valuation approach that is being considered is one whereby upon a successful transaction the valuation paid would be based upon a share consideration and a deferred share consideration determined by financial performance. The company expects to conclude matters shortly and will provide further updates to the market this month." For the half-year ended September 30, the company reports a pretax loss of GBP39,602, narrowing from GBP82,631 12 months earlier. Loss is solely down to administrative expenses, which fall 57% from GBP91,327.
----------
By Eric Cunha, Alliance News news editor
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.