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Pin to quick picksPower Metal Share News (POW)

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TRADING UPDATES: Permanent TSB sells loan portfolio; Dekel output up

Wed, 10th Nov 2021 18:22

(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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Permanent TSB Group Holdings PLC - Dublin-based personal and small business bank - Sells loan portfolio to Morgan Stanley Principal Funding Inc. Portfolio had gross balance sheet value of EUR390 million. Notes 98% of loans categorised as non-performing. "The remaining 2% comprise loan products which originated pre 2009 and which are no longer available to new customers. Typically these are interest only or part capital & interest loans where the borrower and the bank have failed to agree a plan which will ensure the repayment of the outstanding balance (often the original amount which was borrowed) at the end of the agreed loan term," company adds.

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Dekel Agri-Vision PLC - West Africa-focused agriculture company - Crude palm oil output rises 28% year-on-year in October to 2,331 tonnes. Sales improve 25% to 2,301 tonnes. Price per CPO tonne up 51% EUR960 from EUR636 a year earlier. "A year of strong production and even stronger prices continues to set Dekel up for a record year of financial performance in our palm oil operation in 2021. Given current prices remain materially higher than we achieved in this year's high season earlier in the year we remain optimistic of a further uplift in the financial performance of the palm oil operation in 2022," says Executive Director Lincoln Moore.

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Power Metal Resources PLC - exploration company seeking metal discoveries in the US, Australia and Africa - Expands uranium exploration portfolio at Athabasca basin in Canada. Land holdings increase by 144.84 square kilometres to a total of 411.96 square kilometres. "The additional areas staked by the company are prospective for uranium and base-metals," Chief Executive Officer Paul Johnson says.

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Pembridge Resources PLC - London-based investor in Minto Explorations Ltd - Says TSX Venture Exchange conditionally accepts reverse takeover of 1246778 BC Ltd by Minto Explorations. "This conditional acceptance by TSXV clears an important hurdle in Minto's path to being a listed company and we appreciate the work that has been done by Minto and its advisors on the RTO and listing process," Pembridge Chair & Chief Executive Gati Al-Jebouri says.

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Kefi Gold & Copper PLC - gold explorer in Ethiopia and Saudi Arabia - Says final assay results received for phase 4 drilling campaign at Hawiah copper and gold project in Saudi Arabia. An updated mineral resource estimate is expected in December. "The updated MRE is expected to include the additional resources previously defined in the phase 3 drilling programme, as well as material in the indicated category where in-fill drilling has taken place," Kefi says. Phase 4 assays signal "overall increase in the resource grades for copper, zinc, gold, and silver", company adds.

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PureTech Health PLC - Massachusetts, US-based biotechnology company - Sells 750,000 shares in founded entity Karuna Therapeutics, pocketing USD100 million. "PureTech intends to use the proceeds from the Transaction to further the advancement and growth of the company and will update its cash runway guidance in due course," PureTech says. Now has 5.6% Karuna stake.

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Image Scan Holdings PLC - Leicestershire, England-based X-ray imaging systems provider - Awarded contract to supply a portable X-ray scanning system to a US federal agency. "The contract is the first part of a framework order that could lead to the purchase of a further twelve systems," Image Scan says. In addition, company named global distributor for Serstech AB, a technology company working in the field of chemical analysis in Sweden. Company says: "Under the agreement, Image Scan will market Serstech's range of highly portable chemical analysers to bomb squads, hazardous material investigation teams and customs organisations through its global distribution network. In different scenarios, the technology is used to identify explosives, explosive precursors, chemical spills, and illegal drugs."

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Enteq Technologies PLC - Buckinghamshire-based oil and gas services provider - Signs two exclusive distribution agreements with third-party technology providers. These "enhance and complement Enteq's product range". One deal has been struck with Texas-based Erdos Miller Inc. It will be "exclusive distributor outside North America for two of their major product lines". In addition, strikes deal with Alberta, Canada-based Mezintel Inc "for their gamma logging and depth tracking software solutions".

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Evgen Pharma PLC - Liverpool-based sulforaphane based medical drug developer - Notes data on preclinical models of glioblastoma published at universities of Aquila, Rome and Rieti in Italy. Glioblastoma, or GBM, is an aggressive type of cancer. Data finds anti-tumour activity by Evgen's SFX-01 asset. "The in vitro data, in GBM cells and patient-derived glioma-initiating cells, show anti-tumour activity of the company's lead asset SFX-01. The work goes on to show in vivo anti-tumour activity in both sub-cutaneous and orthotopic xenograft (tumour cell lines are implanted in the brain) models of GBM," Evgen says.

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Insig AI PLC - London-based machine learning and data science firm serving asset management industry, formerly known as Catena - Delivers environmental, social and corporate governance scoring platform to alternative investment manager CarVal Investors LP. Notes CarVal's ESG risk assessment model includes carbon emissions, health and safety labour management, board composition and raw material sourcing.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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(Alliance News) - Power Metal Resources PLC on Tuesday said it raised GBP2.7 million via a placing of its shares.

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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15 Mar 2023 18:51

IN BRIEF: Red Rock Resources, Power Metal hail gold drilling testing

Red Rock Resources PLC- Africa and Australia-focused gold and base metals development company - and Power Metal Resources PLC - metals exploration company, focused on North America, Africa and Australia - Release update for Victoria, Australia-based joint venture at Berringa gold mine project, which is 50.1% held by Red Rock and 49.9% held by Power Metal. Says drilling is completed with a total of six diamond drillholes totalling 988 metres, with the majority of drill core samples undergoing assay testing at a laboratory. "Four of the six drill holes completed as part of this programme encountered visible gold," companies highlight. Power Metal Resources Chief Executive Officer Sean Wade says: "Importantly, 4 of 6 drill holes encountered visible gold including a significant 30-metre-wide mineralised quartz vein in the final hole completed - which remains open downhole."

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EXECUTIVE CHANGES: Power Metal Resources picks new CEO, confirms chair

(Alliance News) - The following is a round-up of London-listed company director and manager changes announced this week and not separately reported by Alliance News:

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6 Mar 2023 18:51

IN BRIEF: Power Metal Resources raises funds to pay for drill costs

Power Metal Resources PLC - London-listed exploration company - Raises GBP257,825 through issue of 11.5 million shares at a price of 2.25 pence each. Plans to use proceeds for drill costs in relation to the recently completed Molopo Farms Complex diamond drill programme in Botswana.

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Power Metal annual loss widens as operating expenses increase

(Alliance News) - Power Metal Resources PLC on Monday reported a higher loss in the financial year ended September 30, as operating expenses rose.

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20 Feb 2023 12:24

Power Metal boosts uranium portfolio; Haresign property reduced

(Alliance News) - Power Metal Resources PLC on Monday said it has gained "significant additions" to its uranium portfolio after a claim staking process on February 15.

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16 Feb 2023 16:50

UPDATE: Red Rock, Power Metal identify visible gold at Berringa mine

(Alliance News) - Red Rock Resources PLC and Power Metal Resources PLC both on Thursday said three holes have been completed in an inaugural drilling programme at the Berringa gold mine in the Victoria Goldfields joint venture in Australia.

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TRADING UPDATES: Amaroq strikes gold; Power Metal completes drilling

((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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TRADING UPDATES: Dillistone sees revenue growth; Petro plans fundraise

(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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TRADING UPDATES: Proton wins order; Caerus Mineral sells assets

(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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16 Jan 2023 11:55

Power Metal Resources raises GBP900,000 to push exploration projects

(Alliance News) - Power Metal Resources on Monday said it raised GBP900,000 to advance its exploration projects.

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