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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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Mineral & Financial Investments Ltd - Cayman Island-based investment company focused on the natural resources sector - Buys 6.5% holding in Luca Mining Corp for around GBP1.2 million.
Luca Mining is a mining company with two operating mines in Mexico. Adds deal is being funded from existing cash resources. Believes this investment will generate attractive returns for the shareholders.
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Artemis Resources Ltd - Perth-based based mining company, with gold, copper and cobalt projects in Australia - Provides quarterly activities update. In Greater Carlow Project says ultrafine fraction soils programme confirms Titan gold prospectivity with elevated gold and arsenic in soils over an area of 750 metres by 550 metres with peak gold of 101.3 parts per billion. Adds cash balances were USD2.5 million at the end of the March.
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Future Metals NL - Perth-based platinum exploration company - Provides quarterly activities update. Notes discovery of a large 1 kilometre long untested embayment feature with multiple coincident nickel-copper-PGM sulphide geophysical and stream sediment anomalies. Adds step out drilling results at Panton returned high-grade PGM mineralisation 350 metres beyond the existing 6.9 million ounces mineral resource estimate. Says drill planning underway for the second quarter 2023 to test the shallow BC1 target and other targets at Panton West. Adds company remains well funded to complete its planned drilling and the scoping study.
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Metals Exploration PLC - London-based, Philippines-focused gold producer - Reports gold sold in quarter to March 31 was 21,442 ounces at an average realised gold price of USD1,887 per ounce compared to the fourth quarter's 23,608 ounces at average USD1,742 per ounce. Adds gold revenue was USD40.5 million, slightly lower than USD41.1 million in the fourth quarter. Reports positive free cash flow of USD17.8 million compared to USD18.0 million in the previous quarter.
States net debt at March 31 was USD69.0 million down from USD81.1 million at the end of 2022.
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Record PLC - Berkshire, England-based currency and derivatives manager - Provides trading update for three months to March 31. Reports increase in assets under management of USD4.6 billion, up 6%, to USD87.7 billion. Adds increase in net inflows of USD6.7 billion, up 279%, to USD9.1 billion. Leslie Hill, Chief Executive says: "Looking ahead to the current financial year we expect to see continued growth in currency management linked to the return of currency volatility to markets, accompanied by the delivery of new and higher-margin revenue streams from our continued focus on developing our asset management products and capabilities."
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LMS Capital PLC - London-based investment company - Reports unaudited net asset value at March 31 was GBP46.1 million or 57.2 pence per share compared to GBP46.5 million or 57.7p per share at December 31 2022. Adds overall portfolio net gains were GBP100,000. These comprise net underlying gains of GBP0.5 million offset by unrealised foreign exchange losses of GBP400,000 reflecting the weakening of the US dollar compared to sterling in the first quarter. Adds cash at March 31 was GBP17.5 million compared to GBP17.9 million at December 31 2022.
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By Jeremy Cutler, Alliance News reporter
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