(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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Power Metal Resources PLC - metals exploration company focused on North America, Africa and Australia - Completes the first diamond hole,DDH1-6B, at a depth of 576 meters. Intersects ultramafic rocks immediately beneath relatively shallow Kalahari group sediments. "The initial findings from hole DDH1-6B are exciting, confirming the extension of pyroxenite layering to the south of original hole KKME1-6 and providing significant core intervals for expedited processing and subsequent assay testing," Chief Executive Paul Johnson comments.
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Kefi Gold & Copper PLC - Cyprus-based gold and copper exploration and development company with projects in Ethiopia and Saudi Arabia - Says the estimated capital required for its Tulu Kapi project has increased by 7% to USD320 million from USD300 million to first production. Explains that this is a direct result of cost inflation. Says that a relevant syndicate member has now waived a key condition precedent. Says final proposed project finance plan has now been circulated for formal sign-off by all the syndicate members.
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Nanoco Group PLC - Manchester-based nanomaterial developer and manufacturer - Pretax loss in the year which ended July 31 widens to GBP5.2 million from GBP5.1 million a year before. Revenue grows 19% to GBP2.5 million versus GBP2.1 million, due to increased activity levels. "We have consistently delivered on all of our target milestones throughout the Period. The full-year contract with the European electronics customer covers product validation and new material development. This is a clear sign of their commitment to commercialising infra-red sensors using Nanoco's quantum dots. We maintain our goal of being ready in H1 FY23 for potential commercial production orders in the short term," CEO Brian Tenner comments.
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Pembridge Resources PLC - London-based copper-focused mining company - Notes that Minto Metals Corp identified 2.20% of copper at its 22EXP042 hole over 20 metres at Minto North. Finds 3.52% of copper over 7.26 metres at its Cu Keel South discovery. "In the past, I have expressed my confidence in Minto producing positive results from its exploration activities. Earlier this year, Minto reported the first set of results and these are additional assay results that have been received. These results continue to impress and indicate that in time, Minto will be able to confirm new commercial resources and reserves that should extend the life of mine," CEO Gati Al-Jebouri says.
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Technology Minerals PLC - London-based company focused on creating a circular economy for battery metals - Confirms high-grade spodumene pegmatite samples in float reaching up to 2.95% of lithium oxide with its first work programme at Leinster project in Ireland. Says it received a new licence PLA 1597 from the GeoScience Regulation Office of the Department for the Environment, Climate & Communications of Ireland to add to 15 licences already, bringing the total area of tenure to 526 kilometres. "Exploration programmes are expected to commence later this month to identify specific areas for follow up drilling and we are continuing to add to our portfolio of projects in Ireland with new applications focused on lithium exploration, a critical mineral needed to power the transition to a carbon neutral economy," CEO Alex Stanbury comments.
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Fiske PLC - stockbroker and investor - Swings to a pretax loss of GBP349,000 in the 13 months to June 30, from a profit of GBP366,000 in the 12 months to June 30. Operating expenses jump to GBP6.3 million from GBP5.7 million. Revenue in the period falls to GBP5.9 million from GBP5.9 million in the comparable period. Blames this on supply chain disruption, coupled with higher commodity and energy prices and exacerbated by the war in Ukraine. "This year has been a more difficult one to navigate with the second half adversely impacted by Russia's incursion into Ukraine, the knock-on effect on energy prices and the subsequent acceleration in the tightening of global monetary policy. However, we have continued to take cost out of the business, invest in our people and focus our investment efforts on looking after our clients in these uncertain times," CEO James Harrison comments.
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Premier African Minerals Ltd - Africa-focused minerals and metals project developer - Intersects multiple thick high-grade zones at its Zulu Lithium and Tantalum project in Zimbabwe. Says the lithium-bearing mineral assemblage exhibits "high spodumene content in the thickest pegmatite", north and south of the Machakwe river.
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Atlantic Lithium Ltd - lithium asset developer and producer focused in West Africa - Completes the resource and exploration drilling programme at its Ewoyaa Lithium project in Ghana. "The latest infill drilling results from within the current Resource at the Ewoyaa Main deposit have returned multiple high-grade pegmatite intervals over 1.5% Li2O and over 80m long, providing further confidence in Resource to Reserve conversion and the Pre-Feasibility design," Interim CEO Lennard Kolff comments.
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Agronomics Ltd - Isle of Man, UK-based cellular agriculture company - Executes agreement to invest up to USD7 million in the USD20 million seed round of precision fermentation contract manufacturer Liberation Labs Holdings Inc.
In June, it invested USD627,000 in Liberation Labs' initial round of financing for a 47% stake.
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Trifast PLC - Uckfield, England-based industrial fastenings firm - Records revenue of roughly GBP120 million in the six months to September 30 versus GBP103.7 million, year-on-year. Attributes this to mixed demand backdrop across its key end market sectors and international footprint, as well as contract wins totalling GBP12 million, due to market share gains and commercial focus on faster-growing niches. Continues to make progress with growth strategy. "We are focussing on both cost management and pricing actions to mitigate the impact of ongoing, significant, inflationary cost increases. This includes ongoing pricing negotiations with a number of our key OEM customers," the company says.
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International Personal Finance PLC - Leeds, England-based company which offers small, unsecured cash loans - Records customer lending growth of 15% in the third quarter of 2022, year-on-year. Registers closing customer receivables of GBP851 million in the period, an increase of 15% year-on-year. "Our positive momentum from the first half of the year continued during the third quarter and I am pleased to report that, in addition to delivering strong growth, our customers' repayment behaviour and portfolio quality remained robust. We have successfully delivered on our strategy of expanding our range of products in Poland to enable us to continue serving this important consumer segment in a fully compliant way," CEO Gerard Ryan comments.
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By Abby Amoakuh; abbyamoakuh@alliancenews.com
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