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Pin to quick picksSeed Share News (SEED)

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TRADING UPDATES: Beowulf consolidates Vardar; GIF outpaces benchmark

Tue, 09th Apr 2024 16:04

(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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Cadence Minerals PLC - early-stage investment firm focused on companies in the mineral resource development sector - Says Evergreen Lithium Ltd has received soil sampling results from its Bynoe lithium project in northern Australia. The results confirm the "likely presence" of LCT pegmatites within the Bynoe lease. Sampling also identifies "additional large scale lithium pegmatite targets" within Evergreen's 231 kilometre squared licence. Cadence says Evergreen is planning reverse circulation drilling to test geochemical and geophysical anomalies at the sight, followed by potential diamond drilling. Cadence holds around 15.8 million shares in Evergreen as of July 2022, and a further AUD3.5 million of shares in Evergreen are due to Cadence on the achievement of certain performance milestones by the company.

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Gulf Investment Fund PLC - Isle of Man-based investment company focused on the seven countries in the Gulf Cooperation Council - Says net asset value rose 4.4% in the quarter ended March 31, outperforming the firm's benchmark S&P GCC Index, which rose 2.3%. GIF says that the positive performance was driven by its investment in Saudi Ground Services Co, up 43%, Arabian Centres Ltd, up 20%, and Arab National Bank, up 15%. Negative performers in the portfolio were Commercial Bank of Qatar, down 22%, and Qatar National Bank, down 14%. GIF ended the quarter with 20 holdings in Saudi Arabia, six in Qatar, two in the UAE, one in Kuwait and one in Oman. Looking ahead, the company is confident in the investment potential of the GCC, and says that "ongoing reforms, tourism growth and expansion of the non-oil economy" will support further growth. However, it warns that regional conflicts and pressures on Red Sea shipping routes pose short term threats.

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Shanta Gold Ltd - East Africa-focused gold explorer - Says ongoing drilling at the New Luika gold mine in Tanzania intercepted multiple areas of gold mineralisation. Highlights include a 2.4-metre interval at the Elizabeth Hill deposit with 6.84 grams of gold per tonne of ore, and a 1.0-metre interval at Jamhuri Main with 16.78 grams per tonne. Positive results were also reported from the company's 37-hole drilling programme at the Singida Gold Mine in central Tanzania, including a 0.5-metre interval at 30.4 grams per tonne.

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Beowulf Mining PLC - Nordic-focused mineral resource developer - Completes consolidation of 100% interest in Vardar Mineral Ltd, a mineral exploration company focused on the Balkans and southeastern Europe. The transaction was expected to close on March 15, but Beowulf said that an unspecified "administrative issue" pushed this date back. Beowulf's holding in Vardar was previously 61%, and the company issued 52.3 million shares to Vardar minority holders to consolidate its interest. Chief Executive Officer Ed Bowie says: "Vardar has an exciting portfolio of exploration assets in a highly prospective yet under-explored region. Consolidating the ownership gives us full operational control and optionality to drive the growth of the business including reviewing acquisition, divestment, joint venture and strategic investment opportunities."

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Savannah Resources PLC - lithium development company and owner of the Barroso lithium project in northern Portugal - Says it has purchased three additional plots in Portugal for Barroso project, bringing the total to 100 plots bought from local landowners. Civil action was brought against certain landowners in respect of land packages sold to Savannah, but the company says requests for Savannah to suspend work on these land packages have been dismissed by a local court while the case continues. Baseline surveying for the RECAPE phase of the environmental licencing process for Barroso has been completed, and Savannah expects to publish resource estimate for the project later in April. Chief Executive Officer Emmanual Proenca says: "Savannah continues to be very busy on a wide range of fronts as we look to advance our project, one of Europe's key lithium assets, towards development and production."

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Seed Innovations Ltd - Guernsey-based investment company - Says the planned merger between its investee company Northern Leaf PLC and Voyager Life PLC has been terminated. In Mid-March, the two UK-based medical cannabis and hemp-related product producers signed a heads of terms deal to create a company with a combined valuation of over GBP5 million. Seed Innovations owns 1.2 million shares in Northern Life, representing around 0.6% of the company's share capital. Seed expects to carry the investment in Northern Lead, valued at GBP13,000 as at December 22, at no value in its financial statements as at March 31.

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By Hugh Cameron, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

More News
19 Jun 2024 16:15

IN BRIEF: Seed Innovations loss narrows while NAV decreases

Seed Innovations Ltd - investor focused on early-stage health, wellness and medical cannabis firms - In the financial year to March 31, comprehensive loss narrows to GBP2.1 million from GBP4.5 million a year prior. Basic and diluted loss per share is 1.01 pence compared with 2.10p. No dividend was declared, unchanged from a year prior. Net assets per share totals GBP6.73 compared with GBP7.54. Remains "frustrated that the market does not understand the value and quality of our net asset value," company says. Says it is focused on utilising strategic initiatives to enhance investor perception and communicate its "intrinsic value proposition" to the market. Remains optimistic about Seed's current investment portfolio.

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18 Apr 2024 14:12

UK dividends calendar - next 7 days

Friday 19 April 
Chelverton UK Dividend Trust PLCdividend payment date
Empiric Student Property PLCdividend payment date
FW Thorpe PLCdividend payment date
Heavitree Brewery PLCdividend payment date
Heavitree Brewery PLC A dividend payment date
JPMorgan Global Emerging Markets Income Trust PLCdividend payment date
Palace Capital PLCdividend payment date
STS Global Income & Growth Trust PLCdividend payment date
Monday 22 April 
no events scheduled 
Tuesday 23 April 
Crest Nicholson Holdings PLCdividend payment date
Invesco Asia Trust PLCdividend payment date
Pantheon Infrastructure PLCdividend payment date
Pembroke VCT PLC Bdividend payment date
Pinewood Technologies Group PLCex-dividend payment date
Wednesday 24 April 
Conduit Holdings Ltddividend payment date
Thursday 25 April 
abrdn Asian Income Fund Ltdex-dividend payment date
AVI Japan Opportunity Trust PLCex-dividend payment date
Bakkavor Group PLCex-dividend payment date
Bankers Investment Trust PLCex-dividend payment date
Bodycote PLCex-dividend payment date
Cairn Homes PLCex-dividend payment date
Central Asia Metals PLCex-dividend payment date
City of London Investment Trust PLCex-dividend payment date
ConvaTec Group PLCex-dividend payment date
CQS Natural Resources Growth & Income PLCex-dividend payment date
Derwent London PLCex-dividend payment date
Eurocell PLCex-dividend payment date
Foresight Solar Fund Ltdex-dividend payment date
Greggs PLCex-dividend payment date
Hansard Global PLCdividend payment date
Harworth Group PLCex-dividend payment date
Henderson Far East Income Ltdex-dividend payment date
HSBC Holdings PLCdividend payment date
Invesco Select Trust PLC Global Equity Income ex-dividend payment date
Invesco Select Trust PLC UK Equity ex-dividend payment date
JPMorgan Claverhouse IT PLCex-dividend payment date
Legal & General Group PLCex-dividend payment date
ME Group International PLCex-dividend payment date
Morgan Advanced Materials PLCex-dividend payment date
Morgan Sindall Group PLCex-dividend payment date
Mortgage Advice Bureau Holdings PLCex-dividend payment date
MP Evans Group PLCex-dividend payment date
Murray International Trust PLCex-dividend payment date
Portmeirion Group PLCex-dividend payment date
Public Policy Holding Cos Incex-dividend payment date
Rightmove PLCex-dividend payment date
Sabre Insurance Group PLCex-dividend payment date
Schroder Oriental Income Fund Ltdex-dividend payment date
Secure Trust Bank PLCex-dividend payment date
Seed Innovations Ltdex-dividend payment date
Seplat Energy PLCex-dividend payment date
Shaftesbury Capital PLCex-dividend payment date
Spirax-Sarco Engineering PLCex-dividend payment date
St James's Place PLCex-dividend payment date
Stelrad Group PLCex-dividend payment date
Team Internet Group PLCex-dividend payment date
Tufton Oceanic Assets Ltdex-dividend payment date
Tyman PLCex-dividend payment date
Volta Finance Ltddividend payment date
Wickes Group PLCex-dividend payment date
  
Comments and questions to newsroom@alliancenews.com
  
A full 14-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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17 Apr 2024 21:55

EARNINGS AND TRADING: Chill Brands shareholder seeks board ejections

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

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16 Apr 2024 11:14

Seed Innovations shares boosted by special dividend

(Alliance News) - Seed Innovations Ltd shares shot up on Tuesday, after it said it will pay out a special dividend to shareholders.

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16 Apr 2024 10:45

AIM WINNERS & LOSERS: Seed Innovations leaps on special dividend

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

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15 Apr 2024 10:08

Seed Innovations rises; receives GBP2.4 million from Leap Gaming sale

(Alliance News) - Seed Innovations Ltd shares rose on Monday, after it said it has received the remaining GBP2.4 million from the sale of its portfolio company Fralis LLC, trading as Leap Gaming.

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15 Apr 2024 10:06

Seed Innovations gets £2.4m balance from Leap Gaming sale

(Sharecast News) - Health, wellness and medical cannabis investor Seed Innovations announced the receipt of £2.4m (€2.76m) from the final instalment of the sale proceeds of its portfolio company Fralison Monday, which operated as Leap Gaming.

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26 Mar 2024 11:29

Seed Innovations investee bags funding for palm oil alternative

(Alliance News) - Seed Innovations Ltd announced on Tuesday that its investee company, Clean Food Group Ltd, had successfully raised GBP2.5 million.

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29 Feb 2024 18:06

TRADING UPDATES: United Oil adds Jamaica expert; Vaalco makes buy

(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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20 Feb 2024 20:13

TRADING UPDATES: Franchise Brands sets targets, Cindrigo agrees loan

(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 Jan 2024 20:16

EARNINGS AND TRADING: Nanoco receives proceeds from Samsung litigation

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

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23 Jan 2024 17:27

IN BRIEF: Seed Innovations notes investment by portfolio firm Avextra

Seed Innovations Ltd - investment firm focused on early-stage health, wellness and medical cannabis companies - Notes announcement by portfolio company Avextra AG, a German medical cannabis company, in which Seed holds a 3% stake.

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5 Dec 2023 20:01

EARNINGS AND TRADING: Lowland Investment NAV falls but dividend hiked

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

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28 Nov 2023 17:18

TRADING UPDATES: First Class says Zigzag enthusiasm "vindicated"

(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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