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TRADING UPDATES: i-nexus to deliver growth; Craven House loss narrows

Mon, 27th Feb 2023 19:42

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

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Craven House Capital PLC - London-based investment fund with minority shareholding in four Swedish-managed eCommerce and pharmaceutical businesses - Records a pretax loss of USD72,000 in the six months to November 30, narrowed from USD78,000 in the same period a year before, as administrative expenses fall to USD72,000 from USD78,000. Records no revenue, unchanged from a year before.

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Blencowe Resources PLC - London-based miner focused on developing the Orom-Cross graphite project and Akelikongo nickel project in Uganda - Completes its 100 tonne bulk sample mining at its Orom-Cross Graphite project located in northern Uganda. Says that transport is underway to its graphite processing specialist Jilin Huiyang New Material Technology Co Ltd to start the final stage of metallurgical testing in its existing facilities. "We are very confident in the product to be produced from Orom-Cross, especially given the lack of impurities within the concentrate in all testing thus far. If we can continue to demonstrate this quality in the months ahead we will be in excellent shape to complete this pre-qualification process," Executive Chair Cameron Pearce says.

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CQS New City High Yield Fund Ltd - investor in high yield fixed interest securities - Net asset value per share as at December 31 falls 1.8% to 48.39 pence from 49.30 pence as at June 30. Cites weak markets, higher inflation, unstable governments, crippling energy prices and rising interest rates. Records a NAV total return of 3.3% and a share price total return of 7.8%. Declares two dividends of 1.00 pence in the period, maintaining the level of those declared in the same period last year. Anticipates that earnings per ordinary share for the whole year will fall a little short of the total dividend. Says that basic and diluted EPS amounted to 2.70 pence in the period.

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Jadestone Energy PLC - Asia Pacific-focused oil and gas company - Reports good progress on the Montara Venture FPSO tank repairs at its Montara project offshore Australia. Notes that several days have still been lost to weather-related delays and production restart.

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Bluebird Merchant Ventures Ltd - South Korea-focused gold development company - Says the results for its scoping study for its Kochang and Gubong gold projects in South Korea show "excellent" initial validation of the projects' economic potential. Says it shows potential to increase mineral resources given vein extensions in unmined areas across both mines. Says that discussions with project financiers and streaming partners are ongoing.

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NetScientific PLC - London-based life sciences and sustainability technology investment firm - Reports that its portfolio company, PDS Biotechnology Corp had a "successful" meeting with the FDA for a combination therapy of PDS0101, PDS0301 and an FDA-approved immune checkpoint inhibitor for the treatment of recurrent metastatic human papilloma virus. The virus can cause genital warts or cancer. "We are pleased with the guidance from the FDA on key elements of a study design to progress the development of our assets, PDS0101 and PDS0301, in combination with a commercial immune checkpoint inhibitor. This concurrence to substitute an FDA-approved commercially available ICI for the investigational agent studied in the NCI trial simplifies the regulatory pathway for this triple combination," PDS Chief Executive Frank Bedu-Addo comments.

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Rambler Metals & Mining PLC - Richmond, England-based, Canada-focused mining and development company - Applies for an initial order for creditor protection from the Supreme Court of Newfoundland & Labrador under the Companies' Creditors Arrangement Act. Enters into a conditional debtor in possession agreement for a loan of USD5.0 million with RMM Debt Ltd Partnership by its General Partner RMM General Partner Inc.

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Engage XR Holdings PLC - Waterford, Ireland-based virtual reality software and technology group - Enters into a subscription deal with HTC for GBP580,000 for 14.5 million shares at a price of 4 pence per share. Says that the gross proceeds will provide the company with total gross proceeds of EUR10.5 million, together with the gross proceeds from its placing. Says that its issued share capital will consist of 524.8 million shares.

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Premier African Minerals Ltd - Africa-focused minerals and metals project developer - Receives assay results showing "good" intersections from boreholes that are located within the area at its Zulu lithium and tantalum project. "We continue to see good intersections within the main spodumene rich pegmatite that are both encouraging for the long term and supportive of our decision to commence operations with the large-scale pilot plant as we have done," Chief Executive George Roach comments.

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i-nexus Global PLC - Coventry, England-based software company - Continues to make "steady progress" with the growth of its customer base since the start of its financial year which is going to end in September. Remains "on track" to deliver another year of double-digit growth in net monthly recurring revenue. Adds that its sales pipeline is "strong", with multiple businesses in active dialogue or trials. Believes that its market continues to expand. Believes it is "well positioned" with a differentiated offering to deliver a year of growth.

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By Abby Amoakuh, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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15 Apr 2024 11:06

NetScientific investee secures funding to develop product range

(Alliance News) - NetScientific PLC on Monday said its portfolio company ProAxsis Ltd secured GBP1.8 million in investment.

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27 Mar 2024 18:47

TRADING UPDATES: Empire Metals targets key milestones in Australia

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

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13 Mar 2024 17:04

NetScientific "significantly" advances strategic goals

(Alliance News) - NetScientific PLC on Wednesday released a portfolio and strategy update.

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23 Jan 2024 18:39

TRADING UPDATES: Esken's Southend Airport faces further allegations

(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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1 Dec 2023 11:59

IN BRIEF: NetScientific investee DeepTech Recycling bags GBP1 million

NetScientific PLC - technology and life sciences investor - Portfolio company DeepTech Recycling Ltd closes GBP1 million fundraising. DeepTech, in which NetScientific holds a 30% stake, is a company focused on chemical recycling of plastic waste. Last December, it bought the assets of Recycling Technologies Ltd out of administration. The fundraise is carried out via an advance share subscription agreement and is the first closing of a target investment programme of around GBP3 million, with further investment anticipated within the next six months.

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9 Nov 2023 19:41

IN BRIEF: NetScientific's portfolio company updates on cancer trial

NetScientific PLC - London-based deep tech and life sciences-focused venture capital investor -

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6 Nov 2023 12:00

IN BRIEF: NetScientific says Ventive on fire with new investment

NetScientific PLC - London-based deep tech and life sciences-focused venture capital investor - Says portfolio company Ventive, a London-based designer and manufacturer of heating and ventillation solutions, has successfuly closed a new investment of around GBP900,000. Funding included GBP316,000 from existing shareholders and the conversion of two existing convertible loans valued at about GBP600,000. Investment is part of Ventive's proposed GBP1 million to GBP1.5 million programme, with further investments expected by April 30. NetScientific now holds an 11% total equity stake in Ventive, with a post-investment fair value of GBP893,000 - up from GBP52,000 at December 31.

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23 Oct 2023 21:10

NetScientific investee claims promising results in biomarker study

(Alliance News) - NetScientific PLC on Monday said its investee PDS Biotechnology Corp was "encouraged" by study data for its PDS0101 combined with Merck & Co Inc's drug Keytruda.

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3 Oct 2023 17:12

IN BRIEF: NetScientific portfolio company updates on cancer trial

NetScientific PLC - London-based deep tech and life sciences-focused venture capital investment company - Reports that its portfolio company, PDS Biotechnology Corp, has announced updated interim data from the Versatile-002 phase two clinical trial evaluating PDS0101 in combination with Merck & Co Inc's Keytruda in patients with unresectable, recurrent, or metastatic HPV16-positive head and neck squamous cell carcinoma.

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28 Sep 2023 14:24

EARNINGS: Dar Global profit multiplies, Hemogenyx loss widens

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

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13 Sep 2023 21:32

NetScientific's Q-Bot completes GBP3.5 million investment programme

(Alliance News) - NetScientific PLC on Wednesday said that its portfolio company, Q-Bot, has successfully closed a GBP3.5 million investment programme.

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14 Aug 2023 19:49

IN BRIEF: NetScientific's PDS suffers wider loss as R&D costs mount

NetScientific PLC - London-based investment firm focused on life science, sustainability and technology companies - Portfolio company PDS Biotechnology Corp reports results for the quarter to June 30. Net loss was USD11.5 million, widened from USD5.8 million the year before. Higher loss primarily due to costs incurred in connection with research and development programmes, which more than doubled to USD8.0 million from USD3.8 million. Loss per share of USD0.37 compared to USD0.20 before. Further, PDS reports the successful submission of final clinical protocol and supporting information to the US Food & Drug Administration to initiate phase 3 Versatile-003 trial in the fourth quarter. Adds biomarker data from Versatile-002 will be presented at the European Society for Medical Oncology Congress.

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30 Jun 2023 14:07

TRADING UPDATES: Pendragon quarterly trading momentum maintained

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

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29 Jun 2023 14:11

TRADING UPDATES: tinyBuild bemoans disappointing interim performance

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

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22 Jun 2023 17:15

IN BRIEF: NetScientific investee Vortex nabs six-figure investment

NetScientific PLC - London-based investment firm focused on life science, sustainability and technology companies - Announces completion of new GBP3.2 million investment round in portfolio company Vortex Biotech Holdings Ltd, led by EMV Capital. NetScientific converted its GBP400,000 loan into equity alongside new Vortex investors. NetScientific now has a 24.98% total equity holding in Vortex. This equates to a post-investment fair value of GBP2.8 million, quadruple the GBP700,000 value reported at December 31.

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