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UK TRADING UPDATE SUMMARY: Staffline Pens New Deal, Extends Tesco Pact

Mon, 05th Oct 2020 19:23

(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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Staffline Group PLC - Nottingham, England-based recruitment & training group - PeoplePlus adult skills and training division selected for UK government's Provision of Employment & Health Related Services framework. Agrees three-year extension to provide contingent labour to grocer Tesco PLC.

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Norman Broadbent PLC - London-based recruitment and professional services firm - Acquires outstanding minority interest of 25% in Normal Broadbent Interim Management Ltd, from seller Anhela Hickmore, for GBP135,000. Norman Broadbent says GBP65,000 to be paid in cash and GBP70,000 in shares.

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SimiGon Ltd - simulation training solutions provider - Awarded additional USD500,000 for C-130 virtual maintenance training contract with "large international defense company".

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VR Education Holdings PLC - Waterford, Ireland-based virtual reality education and enterprise training - ENGAGE platform selected for Global Youth Takeover, a "major United Nations event". "With Covid-19 making many physical events impossible, using VR technology, the ENGAGE platform can provide attendees of virtual conferences with a real live event experience," VR Education said.

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BATM Advanced Communications Ltd - Israel-based data & telecommunications company - Receives EUR4.3 million initial order from Italy-based "major new customer" for Covid-19 tests.

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Tekcapital PLC - UK intellectual property investment company - Portfolio company Guident enters into mobile connectivity partnership with Cirrus Core Networks Inc for US in autonomous vehicles.

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Zephyr Energy PLC - technology-led oil & gas exploration company focused on US - Plans to begin spudding of dual purpose well a Paradox project, Utah by end of year. Secures USD2 million funding from US Department of Energy.

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Central Asia Metals PLC - copper, zinc and lead explorer, operating in Kazakhstan and North Macedonia - Pays EUR65,000 environmental fine from Sasa tailings leak. Received approval in North Macedonia to recommence operations at Sasa. Plant will work at 50% capacity for trial period. Total cost of incident, including repairs and environmental aspects, to be below USD1.5 million.

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Predator Oil & Gas Holdings PLC - Jersey-based oil & gas company - Did not acquire FRAM Exploration Trinidad Ltd by September 30 deadline. Says acquiring asset which produces energy through conventional means does not fit with its strategy. "Furthermore, in line with the company's prudent management of resources through the Covid-19 crisis, it was deemed inappropriate to enter into a corporate transaction that would involve significant transaction costs; potential delays in regulatory approvals; taking on liabilities and administrative burdens associated with an incremental production service contract; and potentially significant shareholder dilution," Predator said.

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Alba Mineral Resources PLC - mineral exploration & development company, with projects in Greenland, Wales and Ireland - Updates on work at Clogau-St David's gold mine. Says four drill holes completed so far and has permission extended to allow for drilling to continue until end of October.

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Mosman Oil & Gas Ltd - oil exploration company - Says operator of Stanley-4 well, located in Texas, reports output of 1,661 barrels of oil from asset since September 22.

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Thor Mining PLC - vanadium & gold miner in US and Australia - Begins close-spaced airborne magnetics survey at Ragged Range project at Pilbara Goldfield tenements, Australia. "The airborne magnetics survey is designed to map out the underlying mafic/ultramafic greenstones and to identify key prospective structures," Thor said.

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Aura Energy Ltd - Australian minerals company - Says more steps completed ahead of plans to seal CAD4.5 million, about GBP2.6 million, gold funding deal with Archean Gold. Aura completes final USD100,000 payment to Nomads Mining Co Sarl and Archean completes due diligence of Aura's Tasiast South gold project.

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SDX Energy PLC - London-based oil & gas explorer - Says has performed "strongly" so far in second half, with output ahead of guidance.

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Pensana Rare Earths PLC - operator of rare earths project in Angola - Reports successful output of NdPr-rich mixed rare earth carbonate following testwork at Longonjo project. "MREC is a much higher purity and higher value product and has a much broader market and range of applications than the concentrate product contemplated in Pensana's preliminary feasibility study. Based on information provided by industry specialists the specifications of Longonjo's MREC compares favourably with the main products currently being produced and sold mainly in China," Pensana said.

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SolGold PLC - Australian gold & copper mining company - Plans larger 50,000 metres drilling programme at Porvenir project, subject to ongoing positive results. Says first drill hole intersected 644 metres of visual copper sulphide mineralisation.

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Path Investments PLC - energy & natural resources investment company - Reports proposed sale of Kansas Land leases to GasRock Ltd for GBP126,000.

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Braveheart Investment Group PLC - Barnsely, England-based strategic investor - Investee Paraytec Ltd sees "minor logistical issues" in proof of concept work for a Covid-19 test with the University of Sheffield. Issues due to local lockdown restrictions in UK.

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Alternative Income REIT PLC - real estate investment trust focused on UK commercial property assets - Investment manager proposes amendment to investing policy. Proposes reducing minimum weighted average unexpired lease term of portfolio to 12 years and backs removal of the restrictions to permitted sectors in property market.

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RTW Venture Fund Ltd - New York-based investment company which invests in life sciences, biopharmaceutical, and medical technology companies - Portfolio company C4 Therapeutics Inc prices USD182.4 million Nasdaq Global Market float. Will offer 9.6 million shares at USD19.00 each. On first day of trading, C4's shares climbed 34% to USD25.49.

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EQTEC PLC - waste-to-energy project developer, based in London - Signs deal with Wood Group UK Ltd and DS Mena to aide "effective deployment" of EQTEC technology to global energy-to-waste sector.

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PureTech Health PLC - biotherapeutics company - Says founded entity Alivio Therapeutics lands USD3.3 million from US Department of Defense, to further development of ALV-304 treatment for inflammatory bowel disease.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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SDX Energy discovers gas at Sobhi well

(Sharecast News) - Middle East and North Africa-focussed SDX Energy announced a gas discovery at the SD-12 East well on Tuesday, which targeted a separate compartment in the Sobhi Field within the Ibn Yunus North development lease in Egypt.

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IN BRIEF: SDX Energy shares rise on gas discovery at Egypt asset

SDX Energy PLC - oil and gas company focused on Egypt and Morocco - Says 67% owned SD-12 East well in Sobhi field at Ibn Yunus North discovers gas. The asset is located in Egypt. The primary basal Kafr El Sheikh target is met at 6,567 feet measured depth, discovering 70.2 feet of net pay gas sand with average porosity of 24%. Secondary target is encountered at 4,838 feet measured depth, discovering 9.1 feet of net pay gas sand with 31% porosity.

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TRADING UPDATES: Warehouse REIT buys Bradwell Abbey; Ixico wins deal

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8 Apr 2022 17:12

IN BRIEF: SDX Energy spuds MSD-20 development well in Egypt

SDX Energy PLC - oil and gas company focused on Egypt and Morocco - Spuds the MSD-20 infill development well on the Meseda field in Egypt. This is the third fully funded 13-well development campaign at the Meseda and Rabul oil fields. The campaign aims to grow production to between 3,500 to 4,000 barrels per day by early 2023.

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7 Apr 2022 14:39

IN BRIEF: SDX Energy makes positive progress on SD-5X well in Egypt

SDX Energy PLC - oil and gas company focused on Egypt and Morocco - Provides an update on its 37% owned SD-5X discovery well at the South Disouq development lease in Egypt. Says well was perforated and tested on March 30. Well flowed at a rate of 10 million standard cubic feet per day on a 26/64 inch choke. SDX expects the well to produce at an optimum stabilised rate between 8 to 9 million standard cubic feet per day. Well will be tied in to the SD-4X flow-line at an estimated cost of USD500,000. Expects well to be on production in June. Next, the company is moving onto the second well in the campaign, SD-12 East, which is expected to spud in mid-April.

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22 Mar 2022 21:00

TRADING UPDATES: Marlowe makes acquisition; Kavango backs out of deal

(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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18 Mar 2022 17:29

IN BRIEF: SDX Energy swings to annual loss on higher one-off costs

SDX Energy PLC - London-based oil and gas company with projects in Egypt and Morocco - Revenue in 2021 rises to USD53.9 million from USD46.1 million. Swings to pretax loss of USD17.1 million from USD1.4 million profit. Exploration and evaluation expense increases to USD14.1 million from USD5.8 million. Depletion, depreciation and amortisation charges up to USD32.6 million from USD25.2 million. In addition, company posts USD9.5 million impairment expense, against none in year prior.

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17 Mar 2022 16:14

SDX Energy begins oil production from Egypt infill well

(Sharecast News) - Middle East and North Africa-focussed SDX Energy announced the start of oil production at the MSD-25 infill development well on the Meseda field on Thursday, in its West Gharib concession in Egypt, where it has a 50% working interest.

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8 Mar 2022 19:36

IN BRIEF: SDX Energy spuds well in South Disouq to explore potential

SDX Energy PLC - London-based oil and gas company with projects in Egypt and Morocco - Spud the SD-5X well, which will target the Warda prospect in the South Disouq development lease in Morocco.Well is targeting an estimated gross unrisked P50 EUR of 11 billion cubic feet and has a 40% chance of success.

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4 Mar 2022 20:53

TRADING UPDATES: IOG to cut Gazprom ties; wholesale changes at Donegal

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

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