(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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Diurnal Group PLC - Cardiff, Wales-based pharmaceutical company focused on hormonal diseases - Raises GBP20.0 million through placing of 28.5 million shares at 70 pence each. Funds will go towards Phase 3 studies of Efmody, a potential treatment for genetic disorder adrenal hyperplasia.
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Victoria PLC - Worcestershire-headquartered flooring firm - Buys ceramics firms Ceramica Colli, Vallelunga and Ceramiche Santa Maria for EUR35 million. Victoria says firms are located near its existing Italian operations and "bring significant additional spare production capacity". Victoria adds: "As a result, they will not only provide an immediate earnings contribution to the group in their own right, but will enable continued profitable growth at Victoria's already established Italian business through the utilisation of that spare production capacity."
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Bushveld Minerals Ltd - South Africa focused-vanadium producer - Says unprotected industrial action threat at Vametco resolved and "workers have started safely returning to work". Says resolution was down several reasons including recognition of recently signed employee protection plan, company's profit performance and that "no work no pay principles apply".
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Oilex Ltd - Australian oil & gas exploration and production company - Arranged funding to complete acquisition of Gujarat State Petroleum Corp Ltd's 55% interest in Cambay. "In order to satisfy the acquisition consideration, the Company has arranged an equity capital raising, with existing sophisticated shareholders and clients of Novum Securities Ltd, of GBP2.4 million," Oilex says.
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Bezant Resources PLC - copper-gold exploration and development company - Signs pact with SkyTEM Surveys ApS for airborne electromagnetic and magnetic survey of Hope copper and gold asset in Namibia. "The objective of the airborne geophysical survey is to identify unmined potential extensions to Hope and Gorob, as well as identifying other drill prospects along the extensive 130 kilometre strike length of prospective geology. The team is excited about the potential of the Matchless copper belt," Executive Chair Colin Bird says.
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Tirupati Graphite PLC - London-based graphite producer with operations in Madagascar and India - Opens second mine at Vatomina project, Madagascar. "The opening of the mine marks the beginning of commercial operations at the greenfield Vatomina project, taking us one step further towards our goal of increasing capacity in Madagascar to 30,000 tonnes per annum by Q1 2022 and 84,000 tpa by 2024," Chief Executive Officer Shishir Poddar says.
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Trans-Siberian Gold PLC - operates Asacha gold mine in Kamchatka, far east Russia - Total first-quarter revenue up 81% annually to USD16.9 million from USD9.3 million. Total gold dore production in first quarter up 37% yearly to 9,371 ounces. Says activities resume in Vein 25 after two fatalities during accident in January. "We continue to work closely with RTN implementing the recommendations from their investigation and to support the families of those affected by the accident in January. We are pleased to have resumed mining operations at Vein 25 at the start of March," Chief Executive Officer Alexander Dorogov says.
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Hummingbird Resources PLC - UK-based gold ore mining company - Gold poured in first quarter down 25% annually to 22,781 ounces from 30,282 ounces. Expects first-quarter to be its eakest in 2021. Hummingbird adds: "As indicated at the start of the year, Hummingbird expects that the 2021 production profile to be weighted to the second half of the year. Q1 2021 production of 22,781 oz is expected to be Hummingbird's lowest production quarter for the year, with improvements anticipated from Q2 2021 and the rest of the year from Q1 levels."
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Lexington Gold Ltd - gold projects in US states of North Carolina and South Carolina - Completes phase one drill programme at the Jones-Keystone-Loflin project. "All six holes intersected visible sulphide mineralisation, which is an encouraging indicator of the presence of gold," Lexington says. Notes drilling programme completed within budget.
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Shanta Gold Ltd - East Africa-focused gold miner - Gold production in first three months of 2021 down 29% quarter-on-quarter to 14,641 ounces from 20,622. "Gold production to increase throughout the year with H1 delivering 45% of production as previously guided," Shanta adds. Reiterates 2021 output guidance of 80,000 ounces.
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Biome Technologies PLC - Southampton, England-based developer of biodegradable natural polymers and radio frequency systems - Says revenue in first quarter of 2021 in line with internal expectations, rising to GBP1.4 million from GBP1.2 million in year prior. Bioplastics division posts 18% revenue growth to GBP1.2 million. RF Technologies revenue in line with prior year at GBP200,000. "The board's view of the group's performance remains in line with current market expectations," Biome adds.
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Checkit PLC - Cambridge-based workflow management software provider - Announces self-installation feature which provides automated temperature monitoring in food industry. Says development of product was accelerated in response to Covid-19. "This technology launch is expected to provide a significant boost to the company's competitive position and remove a barrier to its global expansion plans since it enables customers to set up their own sensor networks in minutes without the need for specialist field engineers," Checkit adds.
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Kooth PLC - London-based digital mental health platform - Partners with Chartered Management Institute to give all CMI members free access to Kooth's digital mental health platform.
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Agronomics Ltd - alternative proteins company - Portfolio firm LegenDairy Foods rebrands to become Formo. Agronomics has 6.4% stake in investee.
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Catena Group PLC - venture capital firm - Shares resume trading after posting admission document. Agrees deal to acquire remaining near-90% of Insight Capital Partners Ltd for GBP27.9 million. To be funded through issue of 47.3 million shares and GBP1.5 million cash. Also proposes placing to raise GBP6.1 million.
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By Eric Cunha; ericcunha@alliancenews.com
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