Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksSound Energy Share News (SOU)

Share Price Information for Sound Energy (SOU)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 0.998
Bid: 0.902
Ask: 1.00
Change: 0.016 (1.71%)
Spread: 0.098 (10.865%)
Open: 0.92
High: 0.998
Low: 0.902
Prev. Close: 0.935
SOU Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

TRADING UPDATES: Salt Lake funding talks; Resolute cuts output outlook

Thu, 29th Jul 2021 22:08

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

----------

GlaxoSmithKline PLC - Brentford, England-based pharmaceutical group - US Food & Drug Administration approves company's Nucala as a treatment for patients with chronic rhinosinusitis with nasal polyps. Nucala, known as mepolizumab, is the first anti-IL-5 biologic to be approved for adult patients with CRSwNP in the US. GSK Chief Scientific Officer Hal Barron says: "More than 5 million people in the US suffer with chronic rhinosinusitis with nasal polyps and today's approval provides these patients with the first anti-IL-5 treatment option and an alternative to surgery to help reduce symptoms of this disease. GSK is committed to exploring the role of IL-5 inhibition in eosinophil-driven diseases to help address unmet needs of patients." The approval of mepolizumab as a treatment for CRSwNP is based on data from the pivotal SYNAPSE study.

----------

Salt Lake Potash Ltd - Western Australia-focused organic sulphate of potash miner - Will be implementing a revised ramp up strategy for the Lake Way project, Australia, that involves suspending the initial plant feed programme following the processing of the first 90,000-110,000 tonnes of harvest salts, to enable more salts to precipitate before commencing continuous harvesting activities. "As a result of the revised pond ramp-up schedule and associated delayed plant feed salt availability, forecasted SOP production for FY'22 has been reduced and the company will require further funding before the end of 2021 to continue operations at Lake Way," it says. Talks to resolve funding shortfall have started. Adds there is no anticipated impact on production levels in the 2023 financial year and beyond, with full production run-rate from primary salts still anticipated in the June 2022 quarter. Shares fell 52% in London as they were restored to trading on AIM on Thursday following announcement. Shares remain suspended in Australia pending update on Lake Way project funding that is anticipated to occur no later than August 16.

----------

Fidelity China Special Situations PLC - China-focused investment trust - Portfolio Manager Dale Nicholls comments after sharp sell-off in Chinese equities earlier in the week. Notes this was primarily driven by the government announcing an extensive regulatory overhaul of the education sector last Friday. Says: "From a portfolio perspective, the trust has a relatively small exposure to the education sector, with a small position in China Online Education - a company that provides a platform for foreign teachers to teach students English." Reiterates that government regulation is "a constant" in China and must be incorporated into risk-reward framework.

----------

S4 Capital PLC - London-based digital advertising agency chaired by Martin Sorrell - Reports pricing and allocation of a seven-year EUR375 million senior secured term loan B and in addition a five year GBP100 million equivalent multicurrency senior secured revolving credit facility. On back of strong demand from credit investors, the TLB has been priced at a margin of Euribor, subject to a 0% floor, plus 3.75%. "The proceeds will be used to refinance its existing EUR25 million and USD28.9 million term loans and its EUR35 million and EUR43.5 million multicurrency revolving credit facilities and to provide approximately GBP200 million for general corporate purposes, including to fund the cash element of future mergers, which is typically one-half of overall consideration," it says.

----------

Impact Healthcare REIT PLC - real estate investment trust focused on healthcare properties - Net asset value at June 30 GBP388.0 million, or 110.66 pence per share, versus GBP352.4 million or 110.48p at March 31. Declares dividend of 1.6025p for quarter, in line with annual dividend target of 6.41p for 2021. Continued to receive 100% of rent payments as they fall due.

----------

Residential Secure Income PLC - invests in shared ownership and rental homes - IFRS NAV per share of 105.5 pence at June 30, up from 105.1p at March 31. Net recurring income for quarter of GBP1.9 million or 1.1p per share, up 10% on prior quarter. "Total portfolio rent collection continues to be secure, with 99% of rent collected in the quarter, unchanged throughout the Covid-19 crisis and in line with normal performance, demonstrating the secure nature of ReSI's cashflows," it says. Dividend cover of 90% for the quarter, up from 82% for the second quarter and ahead of the 80% full year target.

----------

Resolute Mining Ltd - gold miner with assets in Africa - Quarterly gold poured of 77,450 ounces, down 10% on prior quarter. This reflects "improved performance at the Syama underground mine, Sulphide and Oxide processing which were all at record levels. These improvements were partially offset by lower mined grades at the Syama Sulphide and Oxide operations along with extended scheduled maintenance and power supply disruptions which have now been resolved." All-in sustaining cost of USD1,319 per ounce for the quarter higher than one before, reflecting lower production volumes. Lowers full-year guidance, with total production now expected to be in range of 315,000 ounces to 340,000 ounces of gold. This was previously 350,000 ounces to 375,000 ounces.

----------

Zoetic International PLC - London-based cannabidiol products - Plans name change to Chill Brands Group PLC and says Chill products stocked in around 2,500 multi-state retail outlets in US. In "active negotiations" with major US online affiliate retailers. Has now received orders for Chill products totalling more than USD2.0 million. Is also actively exploring joint venture opportunities in Europe.

----------

Accsys Technologies PLC - London-based chemical technology company - Enters agreement with Lignia Wood Company Ltd and its administators to buy assets, equipment and technology at its 50,000 square foot manufacturing plant in Barry, Wales for EUR1.2 million, including around EUR500,000 for raw wood inventory. Accsys will repurpose the equipment to convert Accoya wood into its new Accoya Color product. "The purchase will be funded from Accsys' existing cash resources and will enhance the product mix offered to customers, with an expectation of higher average selling price across the mix from the added value of Accoya Color in particular from FY23," it says.

----------

Xtract Resources PLC - London-based gold miner with assets in southern Africa and Australia - Says first completed hole of phase 2 drill programme at Bushranger copper-gold porphyry exploration project in New South Wales, Australia, encountered well-developed copper mineralisation over approximately 120 metres length in angled hole BRDD-21-008. Logging and core splitting is under way to prepare samples for assay. "Drilling of the initial hole at the second drill pad is still continuing and we will report on this hole when completed. Work on site continues to progress rapidly and the third hole of the programme has already commenced," says Executive Chair Colin Bird.

----------

Mosman Oil & Gas Ltd - New South Wales, Australia-based oil exploration, development, and production company - Agrees to buy additional 25% working interest in the Falcon lease, including the Falcon-1 well, and 25% of the adjacent Galaxie lease. These will be bought from Baja Oil & Gas LLC for a cash consideration of USD160,000, and the effective date is July 1, 2021. Deal means Mosman's share of production increases by around 30 barrels of oil equivalent per day to 90 barrels per day. "Mosman also has more control of the timing of technical work and operations with the increase from 50% to 75% WI at Falcon the lease and increasing to 85% ownership at the Galaxie lease, where Mosman will become operator," it says.

----------

Fragrant Prosperity Holdings Ltd - British Virgin Islands-based special purpose acquisition company - Repays, in full, current outstanding convertible loan note being GBP310,000 of notes plus interest thereon and also issued a new convertible loan note totalling GBP400,000. Creates new convertible loan note instrument and issued GBP400,000 of convertible loan notes. Notes will carry an interest rate of 5% per annum.

----------

Jangada Mines PLC - London-based resource company with assets in South America - Closes current phase of its drilling programme at the Goela target at its 100%-owned Pitombeiras ferrovanadium project, in Ceara State, Brazil. Total mineral resource estimate grows 45% to 8.26 million tonnes, with 62% now classified at the higher confidence measured & indicated mineral resources category. Chair Brian McMaster says: "Today's announcement represents another very positive step forward for Jangada. As we have promised, the resource expansion supports our business case and importantly the elevation of the bulk of our resource to measured and indicated gives us the confidence to expedite our plans towards mine development. The mine development process is a truly exciting advancement for Jangada." Expects to be a producing mine as early as the first half of 2022.

----------

Caerus Mineral Resources PLC - copper and gold explorer with licenses in Cyprus - Sells Black Pine nickel-cobalt project and associated licences to Aeramentum Resources Pty Ltd, a private Australian company with near-term plans to become a public listed company by way an IPO on the Australian Stock Exchange, for a total consideration of GBP500,000. Will get GBP300,000 in cash and rest in shares.

----------

4D Pharma PLC - Leeds-based live biotherapeutic products developer - Closes senior secured credit facility for up to USD30 million with Oxford Finance LLC, a specialty finance firm that provides senior debt to life sciences and healthcare services companies. Chief Executive Duncan Peyton says: "The credit facility from Oxford Finance provides access to additional capital strengthening our financial position and increasing our financial flexibility as we continue to advance our programs to bring first-in-class Live Biotherapeutics to market. The initial USD12.5 million tranche of this financing extends our cash runway into fourth quarter of 2022, with multiple clinical catalysts throughout 2021 and 2022."

----------

Zenith Energy Ltd - Calgary, Canada-based oil & gas company - Closes debt settlement agreement for drawdown of EUR500,000 made following the signing of a revolving line of credit agreement with an unnamed financial institution. Issues 30.4 million new shares to settle credit facility in full.

----------

Rainbow Rare Earths Ltd - rare earth element mining in Burundi, East Africa - Starts work on the preliminary economic assessment for the Phalaborwa rare earths project in South Africa. "Independent test work carried out to date has confirmed that the phosphogypsum at Phalaborwa is amenable to direct leaching with sulphuric acid for extraction of the contained rare earths. The resultant pregnant leach solution, after acid recovery, will be a suitable feedstock for purification and separation of the valuable rare earths," company says. Chief Executive George Bennett "pleased" to start "important phase" of the Phalaborwa project.

----------

Scancell Holdings PLC - Oxford, England-based developer of immunotherapies for treatment of cancer and infectious disease - South African Health Products Regulatory Authority approves the clinical trial application for the Phase 1 clinical study of COVIDITY in South Africa. The COVIDITY programme is focused on the company's novel Covid-19 vaccine candidates SCOV1 and SCOV2. Chief Executive Lindy Durrant says: "We are very pleased that this CTA was approved so rapidly. Our approach of targeting the conserved N protein in addition to generating potent, cross-reactive VNAbs has the potential to provide a significant clinical advantage by eliciting potent T cells that can destroy cells infected with any SARS-CoV-2 variants and other SARS-CoV viruses that may emerge in the future."

----------

Sound Energy PLC - Moroccan-focused upstream gas company - Enters into a 10-year liquefied natural gas sale and purchase pact with Afriquia Gaz. Agreement covers no fewer than 100 million cubic metres of gas per year. Afriquia also subscribes for GBP2 million worth of Sound Energy shares.

----------

EPE Special Opportunities Ltd - investment company - Acquires majority stake in Hamsard 3634 Ltd through GBP22.5 million investment. Hamsard owns a collection of six UK homeware brands, including Kilner & Mason Cash marques, as well as Viners, Typhoon, Ravenhead and Price & Kensington. "The transaction is consistent with ESO's focus on investing into small and medium sized enterprises, partnering with management teams to create value through long-term business transformation," company explains.

----------

Kodal Minerals PLC - miner developing project in southern Mali and Ivory Coast - Very encouraged after completing reverse circulation drilling at the Nielle Concession located in northern Cote d'Ivoire. Intersections include 33 metres at 2.33 grammes per tonne gold from 3 metres in drill hole NLRC035, including 6 metres at 7.99 grammes per tonne gold from 6 metres. Chief Executive Bernard Aylward says: "We have been able to confirm and extend the zone of gold mineralisation discovered by our former joint venture partner, and in addition we have been able to identify new zones of gold mineralisation that highlight the prospectivity of this new region. Although the receipt of these assay results was longer than anticipated, they reflect the intensive exploration activity that is currently underway in West Africa."

----------

By Lucy Heming; lucyheming@alliancenews.com and Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
4 Dec 2023 15:36

Sound Energy noteholders vote in favour of bond restructuring

(Alliance News) - Sound Energy PLC noteholders on Monday voted in favour of restructuring the company's bonds.

Read more
25 Oct 2023 17:28

TRADING UPDATES: Franchise Brands trading in line; Tribe secures loan

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

Read more
21 Sep 2023 15:47

EARNINGS: Aurora Investment recovers; Chesnara swings to profit

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

Read more
13 Sep 2023 13:32

IN BRIEF: Sound Energy says Morocco assets unaffected by earthquake

Sound Energy PLC - London-based, Morocco-focused upstream gas company - Says its Morocco assets are unaffected by the recent earthquake on Friday last week. This is after completing a survey of its assets located in its Sidi Moktar onshore exploration permits, located around 100 kilometres to the northwest of the earthquake epicentre, in which it found none were affected by the earthquake and all personnel were accounted for. Notes its other assets are located a significant distance from affected areas and so are also therefore unaffected.

Read more
1 Sep 2023 21:29

IN BRIEF: Sound Energy in partial conversion of convertible loan note

Sound Energy PLC - London-based, Morocco-focused upstream gas company - Receives conversion notices to issue 22.2 million shares at a conversion price of 2.25 pence each under an existing GBP2.5 million convertible loan note agreement, the terms of which were announced on June 13. The partial conversion reduces the amount owing on the convertible notes by GBP500,000, with GBP1.5 million remaining.

Read more
28 Jun 2023 10:46

AIM WINNERS & LOSERS: Aferian expects reduced interim revenue

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

Read more
28 Jun 2023 10:31

Sound Energy receives financing offer for gas field project in Morocco

(Alliance News) - Sound Energy PLC on Wednesday said that Casablanca-based Attijariwafa offered to finance the second phase of its development of the Tendrara production concession in Morocco.

Read more
22 Jun 2023 15:07

Sound Energy resolves tax disputes with Moroccan authorities

(Sharecast News) - Sound Energy has successfully resolved its tax disputes with the Moroccan Tax Authority, it announced on Thursday.

Read more
22 Jun 2023 10:58

IN BRIEF: Sound Energy says Moroccan tax court case formally closed

Sound Energy PLC - London-based, Morocco-focused upstream gas company - Receives court papers confirming withdrawal of Moroccan tax cases. Says court cases between the company and Moroccan tax authorities now formally closed. Back in November, Sound Energy's subsidiary Sound Energy Morocco SARL AU challenged the Moroccan Court about the tax assessments levied against SEMS.

Read more
22 Jun 2023 10:17

AIM WINNERS & LOSERS: Biome wins contract; Oracle raises GBP363,000

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

Read more
22 Jun 2023 08:57

LONDON MARKET OPEN: FTSE 100 struggles ahead of anticipated BoE hike

(Alliance News) - Stock prices in London opened lower on Thursday, ahead of the Bank of England's interest rate decision at midday, which is expected to result in the central bank's 13th consecutive hike.

Read more
13 Jun 2023 11:14

Sound Energy shares jump amid Tendrara deal with Calvalley Petroleum

(Alliance News) - Sound Energy PLC said on Tuesday that it had secured a 45 day binding period and a non-binding term sheet with Calvalley Petroleum Ltd in the Tendrara exploitation concession and the Grand Tendrara exploration permit in Morroco.

Read more
6 Jun 2023 15:47

UK shareholder meetings calendar - next 7 days

Wednesday 7 June 
City Pub Group PLCAGM
Gem Diamonds LtdAGM
Gulf Marine Services PLCAGM
Hostmore PLCAGM
LXi REIT PLCAGM
Pennant International Group PLCAGM
Third Point Investors LtdAGM
United Oil & Gas PLCAGM
Xpediator PLCGM re takeover by DLM Bidco
Thursday 8 June 
Ashtead Technology Holdings PLCAGM
Camellia PLCAGM
Checkit PLCAGM
Churchill China PLCAGM
CRH PLCCourt Meeting and EGM re proposal to transfer the company's primary listing to NYSE
Downing Renewables & Infrastructure Trust PLCAGM
Fair Oaks Income LtdAGM
Fusion Antibodies PLCGM re result of retail offer
Genflow Biosciences PLCAGM
Glenveagh Properties PLCAGM
Kavango Resources PLCAGM
Kosmos Energy LtdAGM
Melrose Industries PLCAGM
North American Income Trust PLCAGM
Oriole Resources PLCAGM
Panther Metals PLCAGM
REA Holdings PLCAGM
Renalytix PLCGM re director's authorization to allot new shares and equity securities for cash
Vaalco Energy IncAGM
Friday 9 June 
Arecor Therapeutics PLCAGM
Devolver Digital IncAGM
Fulham Shore PLCGM and court meeting re takeover by Torridoll Holdings Corp
Hochschild Mining PLCAGM
Mirada PLCGM re cancellation and re-registration as PLC
MP Evans Group PLCAGM
S4 Capital PLCAGM
Sureserve Group PLCCourt Meeting and GM re acquisition by CAP10 
Monday 12 June 
Brighton Pier Group PLCAGM
Learning Technologies Group PLCAGM
Oxford Nanopore Technologies PLCAGM
Pembridge Resources PLCGM and Creditors' Meeting re future plans and objectives
Round Hill Music Royalty Fund LtdAGM
Staffline Group PLCAGM
VPC Specialty Lending Investments PLCGM re investment policy
Tuesday 13 June 
Animalcare Group PLCAGM
Asiamet Resources LtdAGM
Centrica PLCAGM
Dillistone Group PLCAGM
EJF Investments LtdAGM
Elixirr International PLCAGM
Flowtech Fluidpower PLCAGM
Frenkel Topping Group PLCAGM
Great Western Mining Corp PLCAGM
Newbury Racecourse PLCAGM
Plant Health Care PLCAGM
Pressure Technologies PLCGM re delay to the publication of the FY22 Annual Report and directors' remuneration
Sound Energy PLCAGM
Zinnwald Lithium PLCAGM
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
4 May 2023 14:40

IN BRIEF: Sound Energy shares up as annual profit jumps

Sound Energy PLC - Morocco-focused upstream gas company - Posts annual results for 2022. Records no revenue, like in 2021. Pretax profit grows to GBP6.6 million from GBP2.5 million in 2021. This is mostly due to a foreign exchange gain of GBP5.5 million. In 2021, foreign exchange gain was GBP2.2 million. "2022 was a year of real tangible progress for Sound Energy, with the micro-[liquefied natural gas] development at Tendrara contracted to deliver maiden revenue in early 2024," says Executive Chair Graham Lyon.

Read more
4 May 2023 11:34

AIM WINNERS & LOSERS: Sound Energy shares rise ahead of maiden revenue

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

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.