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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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Cambria Automobiles PLC - franchised motor retailer - Says continued to be hurt by UK Covid-19 restrictions in five months to January 31. Welcomes reopening of car showrooms penned for April but warns will miss out on busiest month of trading in March. Says overall trading performance during five-month period improves amid Covid-19-related cost reductions. "Whilst the group's trading performance in the first five months of the financial year is pleasing, given the potential impact that the lockdown restrictions could have had in the period, the results have benefitted from the government support stimulus," Cambria adds.
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Argo Blockchain PLC - cryptocurrency miner - Mines 129 bitcoin or bitcoin equivalent in February, compared to 93 in January. Mining revenue rises to GBP4.3 million in February, from GBP2.5 million in January. "At the end of February, the company held 599 BTC," Argo adds.
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Gore Street Energy Storage Fund PLC - London-based investor in utility-scale energy storage projects - participates in National Grid PLC's dynamic containment service, notching firm another revenue stream. Dynamic containment service ensures grid's frequency stays within statutory range of +/-0.5 hertz. "We are delighted to announce our participation in the new dynamic containment service developed by the National Grid, which could create a material uplift in the company's revenue across the majority of our operational portfolio if the pricing trends continue," says Alex O'Cinneide, chief executive officer of Gore Street's investment manager.
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Kropz PLC - South Africa-focused plant nutrient feed minerals developer - Makes quarterly draw down of loan facility with shareholder ARC Fund. "The fifth draw down under the original equity facility is for USD7 million," Kropz says. Adds that drawdown will be settled through issue of 89.2 million shares at 6.75 pence each. In addition, Kropz draws down USD2 million from a new equity facility.
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Wishbone Gold PLC - precious metals trading and exploration company with assets in Australia - Signs deal to acquire Cottesloe silver project in Australia, more than doubling exposure in Patersons province. To issue Alta Zinc Ltd 600,000 new shares at 14 pence each, GBP84,000 in total. "With silver becoming increasingly in demand with the climate change agenda initiatives, the silver potential is exceptional here at Cottesloe," Chair Richard Poulden says.
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Pure Gold Mining Inc - Canadian gold miner - Says gold pours and shipments at PureGold Mine in Red Lake, Ontario ramping up "regularly". "With the steady progress of mining and milling performance throughout the ramp-up period toward the design production rate of 800 tonnes per day, the company currently anticipates declaring commercial production at the PureGold Mine in Q2 2021," company adds.
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Inspired Energy PLC - Lancashire-based energy procurement consultant - Completes buys of BWS Holdco Ltd, its trading unit Businesswise Solutions Ltd and General Energy Management Ltd. Buys funded from Inspired's GBP31.3 million July fundraise. "We are delighted to conclude the acquisition of Businesswise and GEM, which are highly complementary additions to the group. Both acquisitions increase our market share for energy assurance services, broaden our customer base and significantly increase our units of opportunity," CEO Mark Dickinson adds.
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W Resources PLC - tungsten, tin and gold mining company with assets in Spain and Portugal - Says plant improvement work at La Parrilla mine in Spain has been completed. Notes "improved efficiency and increased production of tin and tungsten concentrate" at mine.
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Reabold Resources PLC- London-based oil and gas project investor - Begins sale of GBP500,000 of convertible loan notes in Corallian Energy Ltd. "As previously announced, the CLN will help to fund the submission of a draft Field Development Plan for the Victory gas field, which Corallian plans to submit prior to the end of 2021," Reabold says.
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Uru Metals Ltd - exploration and development firm - Proposed disposal of its 80% stake in Zebediela nickel project in South Africa to Blue Rhino Capital Corp. Blue Rhino will complete share consolidation and non-brokered private placement to raise CAD2.3 million, about GBP1.3 million. Notes disposal requires shareholder approval.
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Solid State PLC - Worcestershire-based computing products manufacturer - Buys Willow Technologies Ltd, a maker of electro-mechanical products, for an initial GBP10.0 million. Solid State notes acquisition has maximum earnout of GBP3.5 million.
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SourceBio International PLC - Nottingham-based laboratory services provider - Says laboratory operations in San Diego, California to expand to include Covid-19 PCR testing services. "This further investment in our San Diego facility increases our overall capacity to increase Covid-19 qPCR testing services by up to an additional 5,000 samples per day and means we can address the clear market demand for Covid-19 testing in the US," Executive Chair Jay LeCoque says.
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Aberdeen Asian Income Fund Ltd - closed-end fund concentrated on Asian equities - Renews both its three-year GBP10 million loan facility and GBP40 million one-year facility with Bank of Nova Scotia, London Branch for a further three years. "Under the terms of the revolving credit facility, the company also has the option to increase the level of the commitment from GBP40 million to GBP60 million at any time," company adds.
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Evgen Pharma PLC - Liverpool-based clinical stage drug development company - Completes open offer, taking total fundraising to GBP11 million. In February, Evgen said it planned to raise funds to support completion of formulation and scale up manufacturing of breast cancer product SFX-01.
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Victoria PLC - Worcestershire-headquartered flooring firm - Says EUR127.9 million of outstanding senior secured notes due 2024 validly tendered and accepted for repurchase for EUR133.7 million. Says EUR348.1 million in notes remain outstanding.
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By Eric Cunha; ericcunha@alliancenews.com
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