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Pin to quick picksReabold Resources Share News (RBD)

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TRADING UPDATES: Cambria drives on amid virus; Argo crypto mining up

Wed, 03rd Mar 2021 20:16

(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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Cambria Automobiles PLC - franchised motor retailer - Says continued to be hurt by UK Covid-19 restrictions in five months to January 31. Welcomes reopening of car showrooms penned for April but warns will miss out on busiest month of trading in March. Says overall trading performance during five-month period improves amid Covid-19-related cost reductions. "Whilst the group's trading performance in the first five months of the financial year is pleasing, given the potential impact that the lockdown restrictions could have had in the period, the results have benefitted from the government support stimulus," Cambria adds.

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Argo Blockchain PLC - cryptocurrency miner - Mines 129 bitcoin or bitcoin equivalent in February, compared to 93 in January. Mining revenue rises to GBP4.3 million in February, from GBP2.5 million in January. "At the end of February, the company held 599 BTC," Argo adds.

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Gore Street Energy Storage Fund PLC - London-based investor in utility-scale energy storage projects - participates in National Grid PLC's dynamic containment service, notching firm another revenue stream. Dynamic containment service ensures grid's frequency stays within statutory range of +/-0.5 hertz. "We are delighted to announce our participation in the new dynamic containment service developed by the National Grid, which could create a material uplift in the company's revenue across the majority of our operational portfolio if the pricing trends continue," says Alex O'Cinneide, chief executive officer of Gore Street's investment manager.

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Kropz PLC - South Africa-focused plant nutrient feed minerals developer - Makes quarterly draw down of loan facility with shareholder ARC Fund. "The fifth draw down under the original equity facility is for USD7 million," Kropz says. Adds that drawdown will be settled through issue of 89.2 million shares at 6.75 pence each. In addition, Kropz draws down USD2 million from a new equity facility.

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Wishbone Gold PLC - precious metals trading and exploration company with assets in Australia - Signs deal to acquire Cottesloe silver project in Australia, more than doubling exposure in Patersons province. To issue Alta Zinc Ltd 600,000 new shares at 14 pence each, GBP84,000 in total. "With silver becoming increasingly in demand with the climate change agenda initiatives, the silver potential is exceptional here at Cottesloe," Chair Richard Poulden says.

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Pure Gold Mining Inc - Canadian gold miner - Says gold pours and shipments at PureGold Mine in Red Lake, Ontario ramping up "regularly". "With the steady progress of mining and milling performance throughout the ramp-up period toward the design production rate of 800 tonnes per day, the company currently anticipates declaring commercial production at the PureGold Mine in Q2 2021," company adds.

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Inspired Energy PLC - Lancashire-based energy procurement consultant - Completes buys of BWS Holdco Ltd, its trading unit Businesswise Solutions Ltd and General Energy Management Ltd. Buys funded from Inspired's GBP31.3 million July fundraise. "We are delighted to conclude the acquisition of Businesswise and GEM, which are highly complementary additions to the group. Both acquisitions increase our market share for energy assurance services, broaden our customer base and significantly increase our units of opportunity," CEO Mark Dickinson adds.

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W Resources PLC - tungsten, tin and gold mining company with assets in Spain and Portugal - Says plant improvement work at La Parrilla mine in Spain has been completed. Notes "improved efficiency and increased production of tin and tungsten concentrate" at mine.

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Reabold Resources PLC- London-based oil and gas project investor - Begins sale of GBP500,000 of convertible loan notes in Corallian Energy Ltd. "As previously announced, the CLN will help to fund the submission of a draft Field Development Plan for the Victory gas field, which Corallian plans to submit prior to the end of 2021," Reabold says.

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Uru Metals Ltd - exploration and development firm - Proposed disposal of its 80% stake in Zebediela nickel project in South Africa to Blue Rhino Capital Corp. Blue Rhino will complete share consolidation and non-brokered private placement to raise CAD2.3 million, about GBP1.3 million. Notes disposal requires shareholder approval.

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Solid State PLC - Worcestershire-based computing products manufacturer - Buys Willow Technologies Ltd, a maker of electro-mechanical products, for an initial GBP10.0 million. Solid State notes acquisition has maximum earnout of GBP3.5 million.

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SourceBio International PLC - Nottingham-based laboratory services provider - Says laboratory operations in San Diego, California to expand to include Covid-19 PCR testing services. "This further investment in our San Diego facility increases our overall capacity to increase Covid-19 qPCR testing services by up to an additional 5,000 samples per day and means we can address the clear market demand for Covid-19 testing in the US," Executive Chair Jay LeCoque says.

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Aberdeen Asian Income Fund Ltd - closed-end fund concentrated on Asian equities - Renews both its three-year GBP10 million loan facility and GBP40 million one-year facility with Bank of Nova Scotia, London Branch for a further three years. "Under the terms of the revolving credit facility, the company also has the option to increase the level of the commitment from GBP40 million to GBP60 million at any time," company adds.

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Evgen Pharma PLC - Liverpool-based clinical stage drug development company - Completes open offer, taking total fundraising to GBP11 million. In February, Evgen said it planned to raise funds to support completion of formulation and scale up manufacturing of breast cancer product SFX-01.

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Victoria PLC - Worcestershire-headquartered flooring firm - Says EUR127.9 million of outstanding senior secured notes due 2024 validly tendered and accepted for repurchase for EUR133.7 million. Says EUR348.1 million in notes remain outstanding.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
23 Sep 2022 11:28

Reabold Resources and Union Jack Oil shares fall on West Newton report

(Alliance News) - Shares in Reabold Resources PLC and Union Jack Oil PLC slumped on Friday after an update on the West Newton Field concluded that the formation was "very sensitive to aqueous fluids".

Read more
15 Sep 2022 12:29

IN BRIEF: Reabold Resources completes purchase of non-Victory licences

Reabold Resources PLC - oil and gas company with projects in the UK, the US and Romania - Completes the acquisition of Corallian Energy Ltd's working interest in all the non-Victory licences within the Corallian portfolio. Victory is a gas field in the Shetland Isles.

Read more
14 Sep 2022 11:33

IN BRIEF: Reabold shares drop as sells investee Corallian to oil major

Reabold Resources PLC - oil and gas company with projects in the UK, the US and Romania - Sells investee Corallian Energy Ltd to an unnamed oil and gas major. Receives net proceeds of around GBP12.7 million from GBP32 million sale of Corallian and its Victory license. The valuation is a "significant uplift" of Reabold's investment of GBP7.5 million in Corallian since late 2017. In May, Reabold said that Corallian, in which Reabold owned 50%, had received a non-binding conditional takeover offer for entire share capital. Corallian board had deemed offer attractive and was pursuing sale.

Read more
9 Sep 2022 11:17

Reabold Resources shares up as UK government lifts fracking moratorium

(Alliance News) - Reabold Resources PLC shares jumped on Friday following the UK government's announcement of the lifting of the moratorium on hydraulic fracturing onshore in the UK.

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9 Sep 2022 11:06

AIM WINNERS & LOSERS: Reabold jumps on UK government fracking change

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.

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1 Sep 2022 21:24

IN BRIEF: Reabold Resources' Corallian remains in talks for takeover

Reabold Resources PLC - London-based oil and gas company with projects in the UK, the US and Romania - Notes that Corallian Energy Ltd remains in negotiations for a potential takeover by an unnamed purchaser.

Read more
22 Jun 2022 15:48

UK shareholder meetings calendar - next 7 days

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Copyright 2022 Alliance News Limited. All Rights Reserved.

Read more
21 Jun 2022 22:13

TRADING UPDATES: Coca-Cola HBC and Pendragon shareholders show ire

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

Read more
27 May 2022 16:58

IN BRIEF: Reabold Resources revenue rises on higher oil prices

Reabold Resources PLC - London-based oil and gas company with projects in the UK, the US and Romania - Pretax loss stays broadly unchanged in 2021, widening to GBP2.68 million from GBP2.67 million. Revenue rises 12% to GBP1.2 million from GBP1.0 million. Production on a working interest basis from the company's California assets was 24,457 barrels of oil, down from 33,890 barrels of oil the previous year. The lower production was primarily due to workover of wells and bringing enhanced storage infrastructure online, the company explains. Realised sales price was USD65.4 per barrels, up from USD38.4 per barrel a year prior.

Read more
23 May 2022 21:54

TRADING UPDATES: Rockfire surpasses expectations with maiden estimate

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

Read more
13 May 2022 12:24

Reabold Resources hires EnQuest's Chris Connolly as new CFO

(Alliance News) - Reabold Resources PLC on Friday named its new chief financial officer as Chris Connolly.

Read more
4 May 2022 13:08

IN BRIEF: Reabold Resources shares lifted on Corallian licence deal

Reabold Resources PLC - investor in upstream oil and gas projects - Says Corallian Energy Ltd, of which it owns 49.99%, receives non-binding conditional takeover offer for entire share capital. Corallian board deems offer attractive and is pursuing sale. Reabold now will acquire Corallian's portfolio of six exploration and appraisal licenses for GBP250,000, excluding Victory license.

Read more
3 May 2022 21:55

TRADING UPDATES: Vela, Standard Life Investments up portfolio value

(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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25 Feb 2022 20:12

TRADING UPDATES: Tintra faces sale delay; Seplat makes acquisition

(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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17 Jan 2022 12:39

Reabold jumps on promising analysis of West Newton well programme

Reabold jumps on promising analysis of West Newton well programme

Read more

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