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TRADING UPDATES: Berkeley Energia served writ; Equiniti takeover nears

Fri, 05th Nov 2021 14:35

(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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Power Metal Resources PLC - exploration company seeking metal discoveries in the US, Australia and Africa - Completes uranium exploration project at Athabasca Basin in northern Saskatchewan, Canada. A total of 20 rock samples were collected, with all samples now submitted for rush-assay analysis. An additional 1,129-hectare land claim was staked to provide further coverage over several uranium-rich lakes surrounding the company's Tait Hill uranium property.

Chief Executive Paul Johnson comments: "We started this campaign several months ago with the initial staking of our land package surrounding the prolific Athabasca Basin located in Northern Saskatchewan, and continue to build our uranium exploration project portfolio there, as you will see with the new ground secured today. Field observations from Phase I exploration are encouraging and we look forward to the receipt of assay results."

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Ten Lifestyle Group PLC - London-based concierge platform - Wins second contract with DNB Bank ASA, the largest financial services group in Norway. The contract will see the group taking over the provision of concierge services to selected private banking customers from the incumbent supplier and launch its digital services in the spring. This is expected to double the size of its existing contract, Ten Lifestyle explains.

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East Imperial PLC - premium mixers maker - Names SUTL Group as company's exclusive distribution partner in Singapore. SUTL will supply East Imperial's entire range, including bottles and its newly launched can format, throughout Singapore. East Imperial claims to already be an established brand within Singapore with its mixers available across hotels and restaurants. "The appointment of SUTL is in line with East's Imperial's strategy to accelerate its growth in the off-trade market where distribution partners play an important role", the company says.

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Pennon Group PLC - Exeter-based water utility - Competition & Markets Authority will not refer merger inquiry into Pennon's acquisition of Bristol Water to a Phase 2 investigation under the provisions of the Enterprise Act 2002. Regulator is looking into whether the merger of the two firms is "likely to prejudice Ofwat's ability, in carrying out its functions, to make comparisons between water enterprises". The CMA says it is still considering whether to refer the merger for a Phase 2 investigation under the separate provisions of the Water Industry Act 1991.

Back in June, the UK CMA slapped Pennon with an initial enforcement order over the potential deal and vowed to examine whether the takeover would result in a "substantial lessening of competition". Pennon bought neighbour Bristol Water earlier in June for an equity value of GBP425 million and enterprise value, including debt, of GBP814 million.

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Taseko Mines Ltd - British Columbia, Canada-based copper producer - On Thursday reports third quarter revenue of CAD132.6 million or around USD106.7 million, 66% higher annually from CAD87.8 million. Adjusted earnings before interest, tax, depreciation and amortisation are CAD76.3 million, more than double CAD31.5 million a year prior. Notes it expects strong fourth quarter, with annual copper production forecast to be in line with the previous guidance at around 120 million pounds of copper. Taseko says Gibraltar pit in British Columbia started producing ore in third quarter, supplementing existing output. Says the copper price outlook into 2022 remains quite favourable with many governments now focusing on "increased infrastructure investment to stimulate economic recovery after the pandemic".

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Berkeley Energia Ltd - Hatfield, England-based investor in gas production and electricity generation projects - Served with a writ for proceedings in the Supreme Court of Victoria at the Melbourne Commercial Court. The move follows announcement on Tuesday that Berkeley had received a claim from Singapore Mining Acquisition Co Pte Ltd in relation to the investment agreement and convertible note entered into in 2017. The claim alleges that the principle amount of USD65 million of the convertible note is immediately payable by Berkeley due to allegations that the investment agreement and convertible note have been frustrated, repudiated and or an event of default has occurred. Berkeley disputes the allegations and claim made by Singapore Mining Acquisition and says it is currently seeking legal advice in relation to the matter. On Tuesday, trading in Berkeley's shares was halted on the Australian Securities Exchange after the company received the claim. Trading in the company's shares continue as normal on the London and Spanish exchanges.

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eve Sleep PLC - London-headquartered sleep wellness brand - Says a collection of six eve branded CBD drops in different flavours have gone live on its website. eve says it is also currently in discussions with a number of store based retailers which are interested in stocking the eve CBD oil range. Also extends its range of sleep gifting and wellness products in recent weeks, including its non-alcoholic plant based three spirit nightcap drink and a selection of rescue remedy products designed to aid sleep.

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Equiniti Group PLC - London-based financial administration outsourcer - Says New York State Department of Financial Services backs proposed takeover by technology-focused private equity firm Siris Capital. In May, Equiniti had agreed to be taken over by Siris in a deal worth GBP673 million. New-York based Siris has since been reviewing the state of the Equiniti business. Approval from the UK's Financial Conduct Authority for the takeover was received on Thursday.

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Nanoco Group PLC - Manchester-based quantum dots developer - Awarded third work package as part of contract with unnamed European electronics customer to upgrade its existing technology. Highlights that the contract upgrade will support its revenue expectations for financial year 2022, which are consistent with the GBP2.0 million of revenue generated the previous year. The revenue from the third work package will contribute to the group's performance in the first half of financial year 2022, Nanoco notes.

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SimiGon Ltd - Florida-based training and simulation technologies developer - Notes DD Goldstein Real Estates and Investment filed a claim against SimiGon in connection with its ongoing appeal. The appeal forms part of legal claims made by an investor at the Tel Aviv District Court. In January, DD Goldstein Real Estates filed two claims in the court, the first regarding salaries at SimiGon and the second related to the appointment of directors at the London-listed firm's annual general meeting in December. The real estate group purchased 1.5 million shares in SimiGon during 2019. SimiGon says it is studying the claim and will respond to court. The company maintains that it does not expect to take a financial hit from the claims.

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By Will Paige; willpaige@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
26 Jul 2022 15:03

IN BRIEF: Power Metal buys three new uranium properties in Canada

Power Metal Resources PLC - London-based metals exploration company focused in North America, Africa and Australia - Buys three uranium properties covering 271 square kilometres surrounding the Athabasca Basin in northern Saskatchewan, Canada, for a total of CAD137,500, equivalent of GBP88,872. Says the acquisition brings the total of the company's uranium interests to ten properties, encompassing 721 square kilometres.

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22 Jul 2022 13:32

IN BRIEF: Power Metal Resources notes recent report on supply chains

Power Metal Resources PLC - London-based metals exploration company focused in North America, Africa and Australia - Notes a recently published strategy report concerning minerals supply chains by the UK Department for Business, Energy & Industrial Strategy. Says the department will aim to support UK companies to participate overseas in diversified and responsible supply chains.

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18 Jul 2022 15:01

IN BRIEF: Power Metal hails initial findings at Cherished Hope mine

Power Metal Resources PLC - London-based metals exploration company focused in North America, Africa and Australia - Completes a site visit to the Cherished Hope gold mine in Botswana. It is located on its newly acquired PL049/2022 license. Says ground mapping has shown the historical gold workings are "significantly" more extensive than previously assumed. Estimates that at least 10 individual workings are comprising a combination of vertical shafts and trial pits that are extending over approximately 175 meters of strike length. Plans for an early and low-cost reverse circulation drilling programme. Says it will be aimed at testing the along-strike and down-dip extent of the Cherished Hope mineralised quartz reef structures.

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12 Jul 2022 14:29

IN BRIEF: Power Metal enters second year of lithium project earn-in

Power Metal Resources PLC - London-based metals exploration company focused in North America, Africa and Australia - Notifies the owner of the Authier North and Duval East lithium properties that it will continue into year two of the earn-in agreement. Power Metal explains the decision was based on the continued success of neighbouring Sayona Mining Ltd at the Authier project and strong lithium price fundamentals. By continuing into the year year, the company will make a cash payment of CAD25,000 - around GBP16,169 - and a share-based payment of CAD50,000.

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8 Jul 2022 12:37

Kavango Resources shares down as it regains ownership of Kanye JV

(Alliance News) - Kavango Resources PLC on Friday said it regained full ownership of two projects in Botswana and reported the completion of diamond drill programme at its Ditau Camp project.

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6 Jul 2022 14:46

IN BRIEF: Power Metal and Red Rock buy Australian Berringa gold mine

Power Metal Resources PLC - London-based metals exploration company focused in North America, Africa and Australia - and Red Rock Resources PLC - London-based natural resource development company with interests in Africa and Australia - Acquires licence for the Berringa gold mine in Victoria, Australia via their subsidiary of their subsidiary Red Rock Australasia Pty Ltd.

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27 Jun 2022 21:51

TRADING UPDATES: Anglo-Eastern Plantations sees palm oil prices rise

(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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22 Jun 2022 21:23

IN BRIEF: Power Metal Resources on hunt for Togo exploration prospects

Power Metal Resources PLC - metals exploration company focused in North America, Africa and Australia - Signs agreement with consulting geologist David Knopf to explore uranium prospects in Togo, West Africa.

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13 Jun 2022 18:06

IN BRIEF: Red Rock notes potential for Mt Bute gold mineralisation

Red Rock Resources PLC - London-based natural resource development company with interests in Africa and Australia - Drilling results from hole MB22D001 at the Mt Bute prospect in Victoria, Australia, returning highly anomalous molybdenum and bismuth results, suggesting the possibility of intrusive gold mineralisation within the Victoria goldfields.

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1 Jun 2022 19:41

TRADING UPDATES: Indivior, Diurnal start trials; Alien Metals tests

(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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31 May 2022 20:01

TRADING UPDATES: Cloudbreak signs royalty agreement; TomCo drills

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

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24 May 2022 20:18

IN BRIEF: Power Metal-Red Rock joint venture secures Australia licence

Power Metal Resources PLC - metals exploration company focused in North America, Africa and Australia - Says joint-venture subsidiary New Ballarat Gold Corp, which is focused in the Victorian Goldfields of Australia, have been awarded three further exploration licences. These are EL007330, EL007294 and EL007507, bringing NBGC's combined footprint in the Victoria Goldfields to 1,832 kilometres. Licence also covers Ajax mine which historically produced 312,789 ounces of gold at an average grade of 14.8 grams per tonne in the 1920s. NBGC is a joint-venture held between Power Metal - at 49.9% - and its partner, London-listed Red Rock Resources PLC.

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20 May 2022 18:03

Power Metal Resources identifies rare element at Selta Project

(Alliance News) - Power Metal Resources PLC on Friday said its subsidiary First Development Resources has "identified compositionally similar granites over both the Nolan's Bore deposit and the Selta project."

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18 May 2022 21:41

IN BRIEF: Power Metal hails elevated magnetic susceptibility results

Power Metal Resources PLC - metals exploration company focused in North America, Africa and Australia - Records "highly elevated" magnetic susceptibility readings at the DITDD004 hole, drilled into the i10 target at the Ditau Camp project in southwest Botswana. Registers the results between 293 meters and 321 meters, a combined 28 meters of core length. Says that DITDD004 appears to have intercepted the magnetic anomaly within the drillhole from 293 meters to 321 meters downhole depth.

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18 May 2022 18:26

IN BRIEF: Power Metal picks up added stake in Kalahari Key Mineral

Power Metal Resources PLC - metals exploration company focused in North America, Africa and Australia - Will acquire additional 59% interest in Kalahari Key Mineral Exploration Pty Ltd, leading to Power Metal becoming operator of the Molopo Farms complex project in Botswana.

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