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TRADING UPDATES: Alternative Income profit up; BiVictrix loss widens

Mon, 07th Mar 2022 19:26

(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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Alternative Income REIT PLC - London-based real estate investment company - As at December 31, net asset value per share rises 6.7% year-on-year to 90.38 pence from 84.68p, despite dip in property portfolio value of GBP107.7 million across 18 properties from GBP108.5 million across 19. For the six month period, pretax profit more than doubles to GBP6.2 million from GBP3.0 million, while net rental income edged upwards to GBP3.7 million from GBP3.5 million. Increases dividend per share by 16% to 2.60 pence from 2.25p a year prior.

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Downing Renewables & Infrastructure Trust PLC - investor in solar parks, wind farms and hydroelectric plants - As at December 31, net asset value per share at 103.5 pence, up from 98.0p at October 8, 2020, which is the company's incorporation. Portfolio generation stands at 195 gigawatt-hours, 4.7% above expectations, from a portfolio made up of 3,234 operating assets.

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BiVictriX Therapeutics PLC - Cheshire, England-based biotechnology company - For 2021, pretax loss widens to GBP2.5 million from GBP509,000, due to higher R&D, and administration costs, as the company continues to work on its lead programme, BVX001. As at December 31, holds a cash position of GBP6.1 million from GBP862,000 the prior year.

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Argo Blockchain PLC - London-based cryptocurrency miner - For February, mines 135 bitcoin, down from 172 BTC in January due to record high global hashrate and an increase in network difficulty. In addition, the company's facilities in Mirabel and Baie Comeau, Canada were subject to significant curtailment due to cold winter conditions. As a result, mining revenue drops 21% to GBP4.2 million from GBP5.3 million.

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Gore Street Energy Storage Fund PLC - London-based fund investing in energy storage assets - As at December 31, net asset value per share is 103.9 pence, up from 103.3p at the end of September 30, due to a strong performance from the company's assets in the UK and Ireland.

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Touchstone Exploration Inc - Calgary, Canada-based upstream oil and gas company - 3P gross reserves end 2021 at 121.3 million barrels of crude oil equivalent, up 21% from year prior, while 2P gross reserves increase by 16% to 75.5 million barrels of crude oil equivalent and 1P gross reserves increase by 13% to 38.7 million barrels of crude oil equivalent. Chief Executive Paul Baay says: "Our 2021 independent reserves evaluation confirms the significant opportunities at our Ortoire property and the profitability of all of our assets in Trinidad.

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TransGlobe Energy Corp - Calgary, Canada-based oil exploration and production company - For 2021, proved, developed and producing gross reserves increase 30% to 19.9 million barrels of oil equivalent, compared to 15.3 million barrels in 2020. Net present value of future revenue more than doubles to USD423 million from USD198 million.

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Maven Income & Growth VCT 3 PLC - UK-based venture capital trust - As at November 30, net asset value per share rises to 62.55 pence from 56.27p. Declares final dividend of 1.50 pence per share for the year, bringing the total payout to 4.75p

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East Star Resources PLC - Kazakhstan-focused gold and copper explorer - Following the completion of processing of 481 square kilometres of close spaced drone magnetic flown in September over the Dalny licence, identifies 11 target areas prospective for gold mineralisation along prospective sections of the first order. Zhenis gold target with geochemical and induced polarisation anomalies is now structurally interpreted as a 9 kilometre long and up to 900 metre wide area of structural complexity.

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Mosman Oil & Gas Ltd - Sydney-based oil and gas company - Announces initial production from the Winters-2 well in East Texas, with a flow rate of 545,000 cubic feet per day, around 105 barrels of oil equivalent.

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Zephyr Energy PLC - London-based oil and gas investment company - Although consulting firm Sproule International is continuing its work on the Competent Persons Report for the Paradox Basin in Utah, several factors including the CPR's scope and increased activity in the North American oil & gas sector has led to a short delay in the report's completion.

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Oracle Power PLC - London-based power and natural resource project developer with projects focused in Pakistan - Completes maiden drill programme at its Jundee East gold project in Australia, which had the objective of confirming the presence of an unrecognised greenstone belt. The first pass reverse circulation programme consists of 54 holes to a maximum depth of 153 metres for a total of 3,830m. Diamond drilling to start at the Northern Zone to improve the company's understanding of the extent of the project.

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Wishbone Gold PLC - Gibraltar-based precious metals trading and exploration company - Confirms that a heritage clearance survey has been confirmed for March 28 to April 2 at Red Setter and Cottesloe projects. which is for reverse circulation drilling over the seven geophysical targets.

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By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

More News
1 Sep 2022 19:17

IN BRIEF: Oracle Power gains formal approval for power project

Oracle Power PLC - Cambridge, England-based power and natural resource project developer with projects focused on Pakistan - Receives formal approval from the Directorate of Alternative Energy in Sindh, Pakistan for a letter of intent to establish a 1,200 megawatt hybrid solar, wind and green hydrogen power project.

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16 Aug 2022 14:35

IN BRIEF: Oracle Power invests further in green hydrogen project

Oracle Power PLC - Cambridge, England-based power and natural resource project developer with projects focused on Pakistan - Says it has advanced further funds with Kaheel Energy FZE for their joint venture company Oracle Energy Ltd, to be used on the green hydrogen project in Pakistan. On August 15, Oracle and Kaheel Energy subscribed for further equity in the joint venture at a price of 10 Pakistani Rupees per share for a total of about GBP1.5 million. Says the JV is being funded on a 70:30 basis by Kaheel Energy and Oracle respectively. HH Private Office's contribution was about GBP1.0 million and Oracle Power's GBP450,000.

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5 Aug 2022 10:44

Oracle Power raises GBP500,000 in discounted placing; shares drop

(Alliance News) - Oracle Power PLC announced on Friday that it raised GBP500,000 through a placing of 181.8 million shares at a price of 0.275 pence per share.

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3 Aug 2022 14:05

IN BRIEF: Oracle Power shares rise on letter of intent for project

Oracle Power PLC- Cambridge, England-based power and natural resource project developer with projects focused on Pakistan - Confirms a Letter of Intent will be issued from the Directorate of Alternative Energy of the Government of Sindh regarding a hydrogen power project in Pakistan.

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11 Jul 2022 15:28

IN BRIEF: Oracle Power continues to progress with several projects

Oracle Power PLC - Cambridge, England-based power and natural resource project developer with projects focused on Pakistan - Says the second quarter of 2022 has "built on and consolidated" the developments made in the first quarter. Notes further excellent results at the Northern Zone Gold Project in Western Australia, with gold recoveries of up to 95% after 24 hours. Continues to advance projects in Pakistan with the signing of two memoranda of understanding, representing an "important step" towards realising its 400 megawatt green hydrogen project.

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11 Jul 2022 11:49

IN BRIEF: Oracle Power to advance funds to progress hydrogen project

Oracle Power PLC - Cambridge-based power and natural resource project developer with projects focused on Pakistan - Alongside Kaheel Energy FZE, advances a further GBP390,000 to progress the development of its green hydrogen project in Pakistan, run by joint venture company Oracle Energy Ltd.

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27 Jun 2022 12:26

IN BRIEF: Oracle Power signs deal for hydrogen development in Pakistan

Oracle Power PLC - Cambridge-based power and natural resource project developer with projects focused on Pakistan - Signs non-binding memorandum of understanding with Nuvera Fuel Cells LLC to bring green hydrogen fuel cells to the industrial vehicle market in Pakistan.

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24 Jun 2022 10:14

IN BRIEF: Oracle Power annual loss narrows on lower costs

Oracle Power PLC - Cambridge-based power and natural resource project developer with projects focused on Pakistan - Pretax loss in 2021 narrows to GBP881,879 from GBP1.0 million in 2020, as administrative expenses fall 13% to GBP881,973 from GBP1.0 million. Generates no revenue, unchanged from the year before. Remains "committed" to all its projects. Expects to add value through achieving key milestones.

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15 Jun 2022 12:49

IN BRIEF: Oracle Power JV signs deal to support green hydrogen project

Oracle Power PLC - London-based power and natural resource project developer with projects focused on Pakistan - Reports that its joint venture, Oracle Energy Ltd, has signed a non-binding memorandum of understanding with Jiangsu Guofu Hydrogen Energy Equipment Co Ltd. The deal seeks to explore hydrogen storage and hydrogen refuelling infrastructure opportunities. These opportunities will then support the commercialisation of Oracle Energy's 400 megawatt green hydrogen project in Pakistan.

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13 Jun 2022 21:22

IN BRIEF: Oracle Power designs Northern Zone exploration target

Oracle Power PLC - London-based power and natural resource project developer with projects focused on Pakistan - From three samples from its Northern Zone Gold project in Australia, metallurgy results indicate an average gold recovery of 88% over 12 hours and 93% over 24 hours, alongside low copper content of 2.0 parts per million.

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9 Jun 2022 17:37

IN BRIEF: Oracle Power makes Northern Zone gold project a priority

Oracle Power PLC - London-based power and natural resource project developer with projects focused on Pakistan - Reports positive metallurgical results from the first three samples from its 100% owned Northern Zone Gold Project in Western Australia. Results indicate gold recoveries can be achieved within six hours of 83.3% gold and up to 90.4% gold recovery over 72 hours.

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14 Apr 2022 21:36

TRADING UPDATES: Polar Capital assets up; Brooks Macdonald funds fall

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

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1 Apr 2022 12:25

TRADING UPDATES: Yooma, Love Hemp in UK boost; Peel Hunt tops forecast

(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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1 Apr 2022 09:56

AIM WINNERS & LOSERS: Quiz shares in style as sales top expectations

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.

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30 Mar 2022 13:19

Oracle Power enters joint venture deal with Emirati sheikh's company

(Sharecast News) - Natural resources project developer Oracle Power has entered a joint venture agreement with the private office of Emirati sheikh Ahmed Dalmook Al Maktoum, represented through Kaheel Energy, aiming to advance its green hydrogen project in Pakistan.

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