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UK TRADING UPDATE SUMMARY: Motorpoint Predicts Local Lockdowns Bite

Thu, 08th Oct 2020 19:54

(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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Motorpoint Group PLC - Derby, England-based car retailer - Says demand levels since end of UK lockdown exceeding expectations. Says pretax profit in six months to September 30 to be ahead of year prior. Says no annual guidance and notes recent virus case rises in UK as well as local lockdowns will subdue demand in short-term.

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MySale Group PLC - Australia, New Zealand and south east Asia-focused online retailer - To raise GBP5.1 million in subscription of 85.2 million shares at 6.0 pence each. Investors are entities associated with Gabby Leibovich, Hezi Leibovich - founders of online retailer Catch.com.au - and Nati Harpaz, a former Catch.com chief executive.

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JKX Oil & Gas PLC - Ukraine-focused energy firm - Says average output in third quarter was 10,245 barrels of oil equivalent per day, up 3.5% quarter-on-quarter. Notes drilling in IG146, Ukraine, to recommence in October.

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Central Asia Metals PLC - copper, zinc and lead explorer, operating in Kazakhstan and North Macedonia - Copper output in first nine months of 2020 down 1.3% year-on-year to 10,490 tonnes. Zinc production up 1.5% to 17,966 tonnes and lead up 2.7% to 21,718 tonnes.

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Alba Mineral Resources PLC - mineral exploration & development company, with projects in Greenland, Wales and Ireland - Appoints mineral sands specialists IHC Robbins to carry out metallurgical process development and test work on bulk samples from Thule Black Sands project, Greenland. "The programme is designed to confirm the ilmenite products to be produced from TBS ilmenite and to provide product samples to enable potential customers and offtake partners to carry out their own confirmatory analyses," Alba said.

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PetroNeft Resources PLC - Russia-focused oil and gas explorer - Reports successful testing from a mini refinery processing unit on Licence 61, Russia. Unit will reduce 2021 operating costs by USD600,000.

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Hummingbird Resources PLC - African gold producer - Drilled over 21,509 metres at Yanfolila this year and is 95% through its budgeted USD5 million drilling and exploration programme. "Once this year's exploration and drilling programme is complete, the company plan to conduct a mineral resource update," Hummingbird said.

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Chaarat Gold Holdings Ltd - London-based gold miner focused on Armenia and Kyrgyz Republic - Notes political disruption in Kyrgyz Republic but says projects not materially affected.

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Oriole Resources PLC - exploration company with operations in Senegal and Cameroon - Says renewals received for Bibemi and Wapouze assets in Cameroon.

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Asiamet Resources Ltd - Indonesia-focussed copper and gold miner - Enters into heads of agreement with PT Wasesa Indo Nusa to sell Indokal Ltd for USD163.4 million.

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Danakali Ltd - Colluli potash project developer - Colluli Mining Share Co appoints Aggreko PLC as preferred power supply contractor at Colluli. "Aggreko will provide full scope of support services for the supply, commissioning, and maintenance of the power plant, then transfer to CMSC, under 5-year Buy Own Operate Transfer contract," Danakali said.

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W Resources PLC - tungsten, tin and gold mining and exploration company - Increases loan facility with funds managed by the Global Credit Opportunities platform at BlackRock Financial Management Inc by USD7 million.

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Nostra Terra Oil & Gas Co PLC - AIM-listed company focused on the prolific Permian Basin in West Texas - Says contracted drilling rig to soon be mobilised at Pine Mills, US. "The rig is currently operating nearby, after which it will mobilised to Pine Mills. The primary target formation is the prolific Woodbine Sand that is one of the main producers in the region. The well will also evaluate several other known overburden formations," Nostra said.

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Mosman Oil & Gas Ltd - oil exploration company - Says drilling at Falcon-1 well, Texas "progressing well" in aim to reach two prospective zones found in seismic surveys.

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Kodal Minerals PLC - mineral exploration and development company - Welcomes appointment of interim government in Mali and looks forward to progressing Bougouni project.

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Xtract Resources PLC - miner with projects in Mozambique and Zambia - Says large amount of bulk cut and fill work at Manica hard rock gold deposits, Mozambique already completed. Onsite process plant work will begin once pre-establishment work concludes.

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SolGold PLC - Australian gold and copper mining company - Says drill rig preparing for an 8,000 metres drilling programme at Rio Amarillo project, Ecuador. Notes "significant upgrade" of Varela target following field work.

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Camellia PLC - Kent-based agriculture and engineering services firm - Updates on claims made against African subsidiaries. Says two African companies have recognised dispute resolution mechanisms, allowing allegations to be properly examined. "If there has been any wrongdoing those responsible will be held to account, and if shortcomings are identified the companies will improve their safeguarding processes and victims will be compensated," Camellia said. Cost of ADR process to be booked in 2020 and will be in addition to GBP4.8 million "of legal and related costs incurred in 2019 and up to June 30".

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Rainbow Rare Earths Ltd - rare earth producer - Says JORC-compliant exploration target at Gakara, Burundi shows potential for modular development targeting 10,000 to 20,000 tonnes per year of rare earth concentrate output.

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Woodbois Ltd - African timber firm - Says revenue in third quarter ended September 30 down 35% year-on-year to USD3.2 million from USD4.9 million. "Trading in the quarter was in line with expectations, with Covid-19 restrictions becoming more tempered but with limited capital to deploy prior to the August balance sheet restructuring," Woodbois said.

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Schroder UK Public Private Trust PLC - investment trust - Notes portfolio company Seedrs Ltd's plans to merge with Crowdcube Ltd.

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Braveheart Investment Group PLC - Barnsley, England-based strategic investor - Subsidiary Pharm 2 Farm Ltd notes short delay to planned testing of its ant-viral face mask product. Health regulators have amended rules on working with coronavirus and will inspect test facility.

Remote Monitored Systems PLC also notes announcement.

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Kazera Global PLC - Cardiff-headquartered AIM quoted investment company - Diamond production underway at subsidiary Deep Blue Minerals. Initial work focused on areas identified as "likely to be high in diamond content," Kazera says. Says to partake in its first diamond auction in fourth quarter and reports prices "holding up well" despite Covid-19.

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Zegona Communications PLC - investment company focused on European telecoms - Updates on share price of Euskaltel, which it owns 21% of and is its principal asset. Euskaltel shares at EUR9.03 on September 30. "Zegona's holding in Euskaltel, together with its current net cash position, is worth the equivalent of GBP1.46 per Zegona share. This value is over 31% higher than Zegona's current share price of GBP1.11," Zegona said.

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Urban Logistics REIT PLC - logistics-focused real estate investment trust - Says 99% of rent due for quarter to December has been received, with 1% expected "imminently". "This follows strong cash collections in March and June where 100% of rents due were collected," Urban Logistics adds.

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Ediston Property Investment Co PLC - London-based real estate investment trust - Says 91% of third quarter rent collected so far, in line with forecasts. Fourth quarter rent due by October 1 at 87%.

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Alpha Financial Markets Consulting PLC - London-based consultancy services to asset and wealth management industry - Says "good" net fee income growth and improve adjusted earnings before interest, tax, depreciation and amortisation in six months to September 30.

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Sareum Holdings PLC - drug developer focused on small molecule therapeutics to improve cancer and autoimmune treatment - US Patent & Trademark Office issues notice of allowance for patent for Sareum's SDC-1802 TYK2/JAK1 kinase inhibitor programme. "This programme is in preclinical development and targets cancer and cancer immunotherapy," Sareum said.

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IQ-AI Ltd - medical software company with headquarters in Jersey - Pulls out of talks to sell StoneChecker and will now retain product. "The accomplishments by the Imaging Biometrics team thus far in 2020 provided an opportunity for your board to rethink last year's decision to dispose of StoneChecker," Chief Executive Officer Trevor Brown said.

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Yourgene Health PLC - molecular diagnostics firm - Entes into five-year pact with unnamed "blue chip Japanese multinational" for provision of Yourgene's Flex analysis software. " Yourgene expects this partnership to deliver over USD2.5m of revenue over the contract life, as well as creating a benchmark clinical offering in this major world healthcare market," Yourgene said.

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Robert Walters PLC - London-based recruitment firm - Third quarter net fee income down 31% year-on-year to GBP72.8 million from GBP105.6 million. To reinstate 4.5 pence interim dividend, flat year-on-year.

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SRT Marine Systems PLC - maritime tracking firm - Says revenue in first half ended September 30 came in at GBP3.8 million with GBP2.7 million pretax loss. "Unexpectedly given the Covid-19 pandemic, revenues for the transceivers business were 6% ahead of the same period last year, with the second half looking positive," SRT said.

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Watchstone Group PLC - Hampshire-based insurance and healthcare technology business - Unveils proposed disposal of Ingenie Business to A-Plan Group Ltd for GBP5.5 million, potentially GBP2.5 million more based on performance. Disposal needs approval from shareholders at general meeting.

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Intercede Group PLC - cybersecurity software firm with offices in Reston, US state of Virginia and Lutterworth, Leicestershire - Says revenue in six months to September 30 9% higher annually. Joins Faster Identity Online Alliance. "Backed by the likes of Amazon, Apple and Google, FIDO provides a simple method of authentication for users to securely access their online accounts," Intercede says.

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Osirium Technologies PLC - Berkshire-based cybersecurity firm - Secures contract with "major" UK high street retailer. "The new client has purchased a 60-month term license for the Osirium PAM platform including the Privileged Access Management, Privileged Task Management and Privileged Session Management modules. Consultancy and training from Osirium Professional Services are included in the contract," Osirium said.

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Applied Graphene Materials PLC - graphene materials maker with headquarters in Redcar, Cleveland - Launches Innovation Accelerator research and development partnership service, aimed at supporting "businesses in harnessing the potential of graphene in their products".

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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