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(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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Advanced Oncotherapy PLC - London-based particle therapy for cancer treatment - Estimates a total project cost of GBP75 million to GBP85 million for 2023 and 2024 for its Light system. Says that it completed the construction of the patient treatment room and the physical installation of the Light patient positioning system. Says that active cost reduction initiatives are now underway. Is undertaking key steps to reduce operational spending by over 30% in the next 90 days.
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Quantum Exponential Group PLC - quantum technology investment firm - Records a pretax loss of GBP832,291 in the six months to October 31. Revenue amounts to GBP8,030. "Despite the current global economic difficulties, the outlook for Quantum Exponential remains favourable. With increasing support from the UK government for the quantum technology sector, an outstanding advisory board and growing network, the next 12 months should prove to be a very exciting time for Quantum Exponential and its shareholders," Chief Executive Steven Metcalfe comments.
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Bankers Investment Trust PLC - aims for capital growth in excess of the FTSE World Index and annual dividend growth ahead of inflation - Records a total net asset value return of 11.3% in the year to October 31, underperforming its benchmark, the FTSE World Index. Net asset value as at October 31 falls to 105.1 pence from 120.9p the year prior. Attributes this to a turbulent market backdrop with surging inflation and a deteriorating economic outlook that has resulted in sharp falls in both bond and equity prices. Declares total dividend of 2.328p, up from 2.176p.
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Invinity Energy Systems PLC - London-based utility-grade energy storage manufacturer - Says that it was awarded GBP708,371 of funding from the UK government's Department for Business, Energy & Industrial Strategy under phase 1 of the Longer Duration Energy Storage Demonstration competition. The funds are to carry out a comprehensive planning and feasibility study for a large scale, grid-connected vanadium flow battery project in the UK. "We are very grateful to BEIS for the support we have received to date through our participation in the LODES programme. Technologies such as vanadium flow batteries, engineered and assembled in the UK, are playing an ever-greater role in accelerating progress towards net zero, in no small part thanks to initiatives such as this. With this submission now completed, we believe that Invinity and its partners have made a significant step towards the development and deployment of what could be a highly significant UK energy storage project," Chief Development Officer Jonathan Marren comments.
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Savannah Resources PLC - London-based lithium development company - Says that the social impact assessment being undertaken at the Barroso lithium project by the Community Insights Group conducted interviews with local residents during October to ascertain the main issues about the project. "I express my thanks to all community members who agreed to take part in this initial survey conducted by Community Insights, we look forward to hearing and engaging with many more local people as the process continues," CEO Dale Ferguson says.
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Shanta Gold Ltd - Guernsey-based east Africa-focused gold producer, developer and explorer - Records an 18% rise in gold production to 65,209 ounces year-on-year. Registers annual throughput of 884,702 tonnes milled, up 6% from 2021. Says that phase 2 drilling in West Kenya continued to deliver encouraging assay results. Guides for annual production for its New Luika gold mine of 66,000 ounces to 72,000 ounces at AISC.
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Rambler Metals & Mining PLC - Surrey, England-based copper and gold producer - In the final quarter of 2022, its Ming Mine mine's averaged ore production amounts to 1,045 dry metric tonnes per day, up from 998 dmt per day a quarter prior. Records Nugget Pond copper and gold milling facility throughput of 1,119 dmt per operating day at a feed grade of 1.84% copper, up from 1,177 dmt per operating day at a feed grade of 1.75% copper in the previous quarter.
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By Abby Amoakuh, Alliance News reporter
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