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TRADING UPDATES: Power Metal hits "bullseye"; Instem makes acquisition

Wed, 01st Sep 2021 19:34

(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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Power Metal Resources PLC - gold and base metals explorer with assets in North America, Australia and Africa - Identifies a "bullseye" geophysical anomaly at the First Development Resources Pty Ltd copper-gold projects in Australia which Power Metal is in the process of buying. A phase 1 work programme is now being finalised, and plans to list a UK holding company for the assets, FDR UK, are continuing.

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Greatland Gold PLC - gold explorer in Australia - Reports preliminary results from the 2021 drilling programme at the Juri joint venture in the Paterson province, Western Australia. The first four of nine holes show gold mineralisation. The results from the remaining holes are expected in October. A ground electromagnetic survey is due to start this month. "Intercepting gold mineralisation from our initial assays is an excellent result. Greatland will now recalibrate our Juri JV targets based on this initial information as well as the assays pending from the five remaining drill holes and combined with the new proposed ground EM survey," Chief Executive Shaun Day says.

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Galileo Resources PLC - London-based gold and base metals explorer - Amends deal to sell the Kalahari Copper Belt licences to Sandfire Resources Ltd, extending the long stop date to September 15. The extension will give the companies time to obtain ministerial consent. All other conditions for the sale have been met.

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Mirriad Advertising PLC - London-based advertising technology - Signs partnership agreement with Looping Group, a German advertising agency. The two companies will develop and introducer plan covering prospective clients. Mirriad will bring its services to Looping's clients including Mercedes-Benz, Allianz SE and Deutsche Telekom AG.

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Seed Innovations Ltd - investor in pharmaceutical companies - Notes that portfolio company Little Green Pharma Ltd, in which Seed owns 3.1%, released its results for the financial year ended June 30. LGP made AUD7.0 million revenue, equivalent to GBP3.7 million. LGP made pretax profit of AUD24.6 million, reflecting an uplift to the value of a facility in Denmark.

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BP Marsh & Partners PLC - investor in financial services companies - MB Prestige Holdings Pty Ltd is sold to ATC Insurance Solutions Pty Ltd for AUD17 million, around GBP9 million. BP Marsh agrees to swap its 40% stake in MB Prestige for newly issued ATC Insurance shares. As a result, BP Marsh's stake in ATC Insurance will increase to 26% from 20%. The transaction represents a 20% uplift in BP Marsh's latest published valuation of its MB Prestige stake on January 31, of AUD5.7 million.

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Semper Fortis Esports PLC - London-based esports teams operator - Signs 20-year-old Thibault Grzesiak for the SMPR Rocket League team. The team is now complete and ready for the new season. Financial terms of the deal are not disclosed.

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Tissue Regenix Group PLC - Leeds-based wound treatment products - Launches two new products, DermaPure Meshed and VNEW, both line extensions to the biosurgery division. DermaPure meshed provides surgeons with a customised option that eliminates manual meshing in the operating room. VNEW is a pre-shaped, pre-cut acellular dermal allograft. Tissue Regenix has already fulfilled its initial stocking order for VNEW.

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Riverstone Credit Opportunities Income PLC - investor in debt - Invests USD12.5 million in a USD100.0 million first lien green term loan to a polyethylene recycling company. The loan matures in August 2024 and has an expected all-in yield to maturity of 13.5%. This is Riverstone Credit's first green loan, and it plans to use similar lending structures in future.

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Vaalco Energy Inc - Houston-based oil producer in Gabon and Equatorial Guinea - Agreements with World Carrier Offshore Services Corp are now effective after joint venture partners approve. Last Thursday, Vaalco announced the deals to rent a floating storage and offloading unit at the Etame Marin Field in Gabon.

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Altus Strategies PLC - mining royalties investor - Drilling confirms the discovery of a significant zone of gold mineralisation at the Tabakorole project in Mali. Altus holds a 49% stake and 2.5% net smelter return on Tabakorole. The results are expected to increase the volume and grade of the mineral resource estimate.

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Diurnal Group PLC - Cardiff-based hormone drug developer - Launches Efmody, a treatment for congenital adrenal hyperplasia, in Germany and Austria. Pricing is in line with the company's expectations. Diurnal is in talks with health authorities across the European Economic Area for further launches.

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Instem PLC - Staffordshire-based healthcare software - Buys Basel, Switzerland-based life sciences software company PDS Pathology Data Systems Ltd for a total enterprise value of CH14.3 million, around GBP11.4 million, in cash and shares. The deal will deepen Instem's relationship with some of its largest clients and be immediately earnings-enhancing, Instem says.

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TomCo Energy PLC - oil explorer in Utah - Amends terms of the deal to buy Tas Sands Holdings II LLC. TomCo now has until October 1 to exercise its right to buy an initial 10% of Tar Sands for USD2 million, extended from September 1. TomCo paid a USD100,000 deposit for the extension.

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MetalNRG PLC - investor in energy and precious metals projects - 50%-owned joint venture BritNRG is now profitable following operational improvements in the first half of 2021. The venture is producing 3,500 barrels of oil per month, versus less than 1,500 barrels per month in the first quarter. BritNRG sold 3,780 barrels in July at an average price of USD73.88 each. Revenue from the Whisby site is forecast to be over USD2.5 million per year.

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By Ivan Edwards; ivanedwards@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
17 Sep 2024 13:48

UK shareholder meetings calendar - next 7 days

Wednesday 18 September 
AO World PLCAGM
Castelnau Group PLCAGM
Frasers Group PLCAGM
Games Workshop Group PLCAGM
Gore Street Energy Storage Fund PLCAGM
IG Group Holdings PLCAGM
Moonpig PLCAGM
Real Estate Credit Investments LtdAGM
Schroder British Opportunities Trust PLCAGM
Wise PLCAGM
Thursday 19 September 
Augmentum Fintech PLCAGM
Auto Trader Group PLCAGM
Babcock International Group PLCAGM
Ferrexpo PLCGM re re-election of Vitalii Lisovenko to board
Liontrust Asset Management PLCAGM
PHSC PLCAGM
Supreme PLCAGM
Trakm8 Holdings PLCAGM
Friday 20 September 
abrdn New India Investment Trust PLCAGM
Belluscura PLCAGM
Crossword Cybersecurity PLCGM re proposed increase in borrowing limit
Kropz PLCGM re fundraise
SDX Energy PLCAGM
SysGroup PLCAGM
Monday 23 September 
ACP Energy PLCAGM
Alphawave IP Group PLCGM re employee share schemes
Altitude Group PLCAGM
Dialight PLCAGM
Gateley Holdings PLCAGM
Ondo InsurTech PLCAGM
Petrofac LtdAGM
Rockpool Acquisitions PLCAGM
Tern PLCGM re share issue
Tuesday 24 September 
Cohort PLCAGM
DSW Capital PLCAGM
First Property Group PLCAGM
Ilika PLCAGM
Kainos Group PLCAGM
Knights Group PLCAGM
LendInvest PLCAGM
Merit Group PLCAGM
Miton UK MicroCap Trust PLCAGM
Seed Innovations LtdAGM
Zigup PLCAGM
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-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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7 Aug 2024 18:43

TRADING UPDATES: Savannah Energy's Petronas deal falls through

(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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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.

Read more
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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9 Apr 2024 16:04

TRADING UPDATES: Beowulf consolidates Vardar; GIF outpaces benchmark

(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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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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