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(Alliance News) - The following is a round-up of updates by London-listed companies, issued since last week Thursday and not separately reported by Alliance News:
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Reabold Resources PLC - oil and gas company with projects in the UK, the US and Romania - Says competent person's report at PEDL 183 licence, which houses West Newton discovery. confirms asset is "one of the largest hydrocarbon fields discovered onshore UK". Report outlines gross 2C unrisked technically recoverable resource of 197.6 billion cubic feet of gas. Reabold has 56% interest in West Newton. Revenue in six months ended June 30 unchanged year-on-year at GBP560,000. Pretax loss widens to GBP2.7 million from GBP1.4 million. On Wednesday, the company says it strikes a sale and purchase deal with Shell PLC, which will see the oil major acquire Reabold investee Corallian Energy Ltd. Deal is worth GBP10 million, GBP3.2 million net to Reabold. "We are very pleased that Shell has acquired Corallian, and therefore the Victory asset. We believe such a transaction validates Reabold's strategy of creating value for shareholders by identifying, funding and monetising underappreciated, strategically important assets," Co-Reabold Chief Executive Stephen Williams says.
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Kavango Resources PLC - London-based mineral explorer focused on Botswana - Says multi-purpose drill rig mobilised for maiden drill campaign in the Kalahari Copper Belt. "The Rig has been mobilised to conduct a first phase drill programme on PL082/2018, where Kavango is targeting a potential analogue to Khoemacau's Banana zone deposit. The Banana Zone deposit sits immediately to the south of Ghanzi Ridge and exhibits similar geophysical characteristics to survey data acquired by Kavango over PL082/2018," Kavango says. It has contracted Mindea Exploration and Drilling Services Pty for first phase of drilling on licence PL082/2018. On Thursday, company said it successfully enhanced target resolution at the licence PL082/2018, ahead of drilling.
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Panther Metals PLC - Canada-focused mineral exploration firm - Reports "further high-grade gold drill intercepts" from second phase of drilling at Burtville East gold project in Western Australia. "These latest set of strong gold intercepts from drilling at the Burtville East gold project further to add to the underlying value of Panther Australia, as the team continue to grow the business," Chief Executive Officer Darren Hazelwood says.
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Orcadian Energy PLC - North Sea focused oil and gas development company - Says Founder Greg Harding to retire from board at end of the year. "Greg was a founder of Orcadian back in October 2013 when he and Steve Brown started screening relinquishment reports for a North Sea project of scale. After almost nine years with Orcadian, Greg is planning to retire. The board thanks Greg for his outstanding contribution to our understanding of the very best way to develop the Pilot field, and his unwavering support for our plans," Orcadian says. Christian Wilms to step down as non-executive from October 31, due to "increasing executive responsibilities" elsewhere.
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URA Holdings PLC - strategic minerals exploration in southern and central Africa - Pretax loss in six months to June 30 widens to GBP305,000 from GBP282,000 a year earlier. "Our strategy remains to seek value opportunities in the mineral sector with a focus on southern Africa, looking for situations which potentially offer rapid prospects of value creation. We believe the Gravelotte mine falls firmly into this category. Overall, we consider that we have made an excellent start to this process, and it only remains for me to thank the team, including our professional advisers, directors and former directors, who have brought us to the Market and provided the prospects for a profitable future for shareholders," URA says.
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Alkemy Capital Investments PLC - London-based company focused on acquisitions in the mining and technology metals sectors - Says company executive and project builder Tony Veitch appointed to lead development of Port Hedland Lithium Sulphate plant in Western Australia. "Alkemy also in advanced discussions with potential European-based offtakers of lithium hydroxide from [Tees Valley Lithium Ltd's] lithium hydroxide facility at Wilton International," company adds. TVL is wholly-owned by Alkemy. In addition, company says it is now listed on Frankfurt Stock Exchange.
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Cap-XX Ltd - Sydney-based maker of ultra-thin prismatic and cylindrical supercapacitors - Says revenue in year ended June 30 climbs to AUD5.6 million, about GBP3.2 million, from AUD4.1 million. Pretax loss widens to AUD4.9 million from AUD3.5 million. "The major focus for CAP-XX continues to be to become profitable and cashflow positive as soon as possible by increasing product sales from the newly installed former Murata production equipment, other new product families the company recently launched and new products and intellectual property the company is currently developing. We look forward to the future with increasing confidence," Chief Executive Anthony Kongats says.
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Chamberlin PLC - West Midlands-based castings and engineering company - Auditors tell company audit for year ended May 31 taking longer than expected. Chamberlin expects to file by end of October. Results to be consistent with July guidance.
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Invinity Energy Systems PLC - London-based energy storage company - Revenue in six months ended June 30 surges to GBP1.4 million from GBP15,000. Pretax loss widens to GBP11.6 million from GBP8.8 million. Peter Dixon-Clarke steps down as chief financial officer. Chief Development Officer Jonathan Marren assumes role of interim CFO. "Mr Dixon-Clarke will remain with the Company for a period to assist in the transition. Peter has been a valued member of the Company's executive management team since his appointment in August 2020 and has made an important contribution to the Group during his tenure as CFO," company adds.
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Tristel PLC - Cambridgeshire-based maker of infection prevention, contamination control and hygiene products - Launches Tristel DUO disinfecting foam in North America, alongside manufacturing and distribution partner, Parker Laboratories. "We are delighted to have products entering the North American hospital market in partnership with Parker Laboratories who are specialists in the ultrasound arena. In all the countries in which we operate, hospital ultrasound is one of our most important segments," Chief Executive Paul Swinney says.
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By Eric Cunha; ericcunha@alliancenews.com
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