(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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Wheelsure Holdings PLC - Fareham, England-based industrial engineering company - Requests a temporary suspension of its shares on the AQSE Growth Market from Wednesday due to a delay to the publication of its financial results for the year ended August 31. Says the audit work is expected to conclude "in the coming weeks." Adds that conversations regarding raising further working capital are ongoing with a number of providers. In the meantime, says capital remains "severely constrained" but is optimistic the conversations will conclude positively.
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ECR Minerals PLC - exploration and development company focused on gold in Australia - Completes the purchase of a new Cortech CMR1000 multi-purpose drilling rig for USD402,957. Purchase of rig was delayed in July 2021 to allow the appointment of Chief Executive Andrew Haythrope and the completion of a new strategic plan which was originally announced in July 2022. Chief Executive Andrew Haythorpe says: "I am delighted that our long awaited second drill rig has finally arrived in Melbourne. As I stated previously this new Cortech multi-purpose rig will significantly enhance our on-the-ground capabilities, offering both RC and diamond drilling systems. As previously reported, our drill schedule for 2023 is ramping up considerably, and the rig will be put to work following a period of commissioning. The board are also greatly encouraged by expressions of interest from companies regarding leasing the rig outside of ECR's own schedule. In this regard, it is anticipated that the fees from leasing, if agreed, will fund a significant portion of our planned work at Creswick. I look forward to providing further details in due course."
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Polymetal International PLC - gold and silver producer with assets in Russia and Kazakhstan - Chief Executive Vitaly Nesis says that the company did not replace its ore depletion and recorded declining ore reserves in 2022. Explains the exploration season was severely affected by the indirect impact of sanctions placed on, amongst other things, imports of diamond drilling spares and materials into Russia. "We remain confident in the group’s ability to grow our high-quality reserve base and expect the resumption of the upward trend in 2023," he says. In 2022, the company ore reserves fell 9% year-on-year to 27.3 million ounces of gold equivalent from 29.9 Moz of GE. Mineral resources, additional to ore reserves, grew 5% year-on-year to 25.8 Moz of GE from 24.6 Moz of GE.
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One Heritage Group PLC - Manchester-based residential developer focused on the north of England - Announces the practical completion of Country House, Oldman. Says this is its first completion of a development management project. Chief Executive Jason Upton says: "We are thrilled to see the completion of County House. The scheme marks the completion of our first partnership with a housing association, and we are grateful to the entire project team for their work on the scheme. Not only are we really pleased with the quality of the product provided, but we are also delighted to have transformed a local landmark building which is centrally located."
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By Heather Rydings, Alliance News senior economics reporter
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