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Starwood European Real Estate Finance is an Investment Trust

To provide shareholders with regular dividends and an attractive total return while limiting downside risk, through a diversified portfolio of real estate debt investments in the UK and the wider European Union's internal market.

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TRADING UPDATES: Karelian gets permit extension, Starwood ups dividend

Thu, 25th Jan 2024 21:59

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

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Location Sciences Group PLC - Cheltenham, England-based location data optimisation and transparency platform - Enters unsecured term loan facility agreement with special purpose holding company named as Bidco 3 Ltd, for up to GBP3.0 million. It may use the loan in one or more tranches for a minimum of GBP500,000 per tranche. Facility will be used to provide company with general working capital. Borrowings will accrue interest daily at 1.5% per month, with repayment due on January 31, 2026.

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Atlantic Lithium Ltd - Africa-focused lithium explorer and developer - Announces completion of Stage 1 of its competitive offtake partnering process to secure funding for a portion of the remaining 50% available feedstock from its Ewoyaa Lithium Project in Ghana. Moves to Stage 2 of the process, involving "more detailed" due diligence. Executive Chair Neil Herbert says company received non-binding indicative offers during Stage 1, and can now move forward "with a number of preferred parties".

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Blencowe Resources PLC - Developer of Orom-Cross graphite project in Uganda - Reports receipt of USD1 million second tranche payment from the United States International Development Finance Corp, or 20% of the full USD5 million DFC grant to be utilised for Orom-Cross definitive feasibility study costs. Company has received USD2 million to date since funding agreement was signed in 2023. The DFC disbursed the tranche upon completion of "several key goals" such as all spheronised purified graphite test work and the mining of a further 600 tonne bulk sample. Says SPG results indicate that Orom-Cross graphite can be purified up to a 99.995% product, meaning the graphite's quality would be "at the very highest level". Company is "well on its way" to completing necessary milestones for accessing another USD1 million.

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Starwood European Real Estate Finance Ltd - Guernsey-based investor managing high quality senior and mezzanine real estate debt in the UK and Europe - Confirms 1.88 pence per share dividend for the fourth quarter that ended on December 31, bringing its total 2023 dividend to 6.0p per share. This is 0.5p higher than its original target, although target for 2024 remains at 5.5p. Net asset value at December 31 is 104.35p per share, slightly down from 104.46p at September 30. Says portfolio has an average remaining loan term of 1.4 years. Says GBP48.8 million in total has been repaid across seven investments during the period, including full repayment of three loans and four partial repayments. Adds that its loan book is performing broadly in line with expectations despite a challenging macro environment.

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Karelian Diamond Resources PLC - Finland-focused exploration company - Finnish Safety & Chemicals Agency notifies Karelian of granting of an extension for the maximum further three years allowed to its exploration permits Riihivaara 26, Riihivaara 24, 24a and 24b in the Kuhmo region of Eastern Finland. This allows Karelian to "continue and extend its exploration programme in this highly prospective area of Finland".

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Arc Minerals Ltd - Africa-focused copper company - Announces results from recent scout drilling campaign at its Virgo Project within the Kalahari Copper Belt in Botswana. Says copper mineralisation and anomalism intersected, with up to 3.65% copper and 24 grams per tonne silver assayed over the individual sampled interval. Executive Chair Nick Von Schirnding says it is "extremely encouraging to see significant mineralisation intersected close to the boundary of our licenses by Khoemacau that bodes well for our follow-up exploration campaign."

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By Emma Curzon, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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