(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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LoopUp Group PLC - remote meetings company - For first half of 2020, revenue up 43% year-on-year to GBP31.9 million, with gross profit up by 52% to GBP22.8 million. Expects to exceed market expectations for 2020 as a whole.
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Savannah Resources PLC - energy metals - Reports excellent metallurgical results from spodumeme lithium conversion test work on Mina Do Barroso lithium project. High lithium recovery rates achieved from 49 kilograms of Grandao concentrate through first two stages of lithium chemical production. Third stage postponed due to Covid-19 restrictions.
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OptiBiotix Health PLC - life sciences company - Signs new agreement with CTC Group over sales of CholBiomeX3. New agreement extends product range from distribution of CholBiomeX3 to include LPLDL as bulk ingredient. Also extends number of territories from the Philippines to include distribution rights for Vietnam, Indonesia, Colombia and Guatemala. Agreement for period of 24 months.
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TP Group PLC - Reading-based software solutions provider - Despite challenging conditions in first half of 2020, no staff furloughed, and won several contract wins with a combined value approaching GBP30 million for consulting and critical systems projects. Looking to steadily return to normal operations, and expect to continue its robust performance into second half.
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Great Western Mining PLC - minerals explorer - Raises GBP450,000 through placing of 450.0 million shares at a price of 0.10 pence each, the proceeds of which will go towards facilitate further work on the Olympic Gold project, where a ground magnetic survey is planned to define an initial drilling target. In addition, funds will go towards accelerate the proposed 2020 work programme on existing mineral properties in the US state of Nevada.
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Gresham House PLC - asset manager - Trading for first half of 2020 in line with market expectations. As at June 30, assets under management totalled GBP3.26 billion, up from GBP2.80 billion at the end of December.
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Symphony Environmental Technologies PLC - anti-microbial plastic technologies - For first half of 2020, revenue rose by 17% to GBP4.8 million, with indication of return to profitability by generating earnings before interest, tax, depreciation and amortisation.
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Sumo Group PLC - video games services provider - Raises GBP13.7 million through placing of 7.6 million shares at a price of 180 pence, the proceeds of which will go towards taking advantage of potential mergers & acquisitions opportunities.
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Team17 Group PLC - video games publisher - Signs publishing agreement with NExT Studios, part of Tencent Games for its roguelike adventure, Crown Trick, which will launch on PC and Nintendo Switch later in 2020.
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Water Intelligence PLC - water leak detection - Reacquires Maryland franchise within American Leak Detection subsidiary for an undisclosed sum.
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Tiziana Life Sciences - London-registered biotechnology company - Submits patent application for use of forlumab to improve success of CAR-T therapy for cancer and other human disease.
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Echo Energy PLC - Latin American-focused upstream oil & gas - Restructures relationship with Compania General de Combustibles SA over interest on Tapi Aike licence, of which CGC is operator. New agreement allows Echo to cease commitments to pre-drill expenses while keeping an option for company to re-enter western cube of licence when pre-drill activities are completed. Echo has 19% interest in Tapi Aike.
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Oriole Resources PLC - west Africa-focused minerals explorer - Receives positive results from 1,242 metre phase three diamond drilling programme at Pandora epithermal gold project in Djibouti, revealing good potential for resource delineation in the structural zone between Pandora and Pyrrha veins.
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Emmerson PLC - potash development - Raises GBP1.7 million through oversubscribed placing of 40.5 million shares at 4.25 pence each, the proceeds of which will go towards funding acceleration of development at Khemisset potash project in Morocco.
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Yew Grove REIT PLC - Irish property investor - Agrees several leasing transactions, bringing contracted rent roll to EUR11.1 million. As at June 30, property portfolio has a market value of EUR141 million.
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Eagle Eye Solutions Group PLC - coupons and loyalty products - For year ended June 30, adjusted earnings before interest, tax, depreciation and amortisation to rise four-fold year-on-year to GBP3.3 million. Revenue to grow by 21% to GBP20.4 million, driven by several significant customer contracts wins.
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Xaar PLC - inkjet printhead supplier - For first half of 2020, revenue expected to decline by 7% year-on-year to GBP23.7 million, due to a weaker performance from Product Print Systems as a result of Covid-19. Unable to give full-year guidance due to the continued economic uncertainty.
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SIMEC Atlantis Energy Ltd - Edinburgh-based renewable energy firm - To develop Uskmouth power station in Newport, Wales, in two phases. Initial phase comprises conversion of first 110 megawatt generation unit at station, and second phase the second unit will be converted to increase total net output to 220MW. Engaged TechRe to explore options to locate data centres within Uskmouth's development envelope.
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Thor Mining PLC - exploration & development company - Second phase of gold, nickel and chromium geochemical sampling at Pilbara Gold tenements in Western Australia to commence. Follow-up program identified five separate sites from which gold was detected, and is expected to be completed within one week, with assays due several weeks from completion.
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Nanoco Group PLC - quantum dots developer - Increases fundraising target to GBP3.4 million, by issuing 19.5 million shares at 17.5 pence per share. Increased amount is expected to increase the company's cash runway until at least the end of 2022, which is set to increase further with new business wins under discussion.
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Panther Metals PLC - Canada and Australia-focused mineral explorer - To acquire Dotted Lake exploration property for CAD20,000. Property consists of 39 cells, which has produced 21 million ounces of gold over 30 years.
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Loungers PLC - bars and restaurants - Has reopened 75 Lounges and 19 Cosy Clubs following relaxation of UK government imposed lockdown. Expects to have full estate reopened by August 5, but will not reopen Banco Lounge is Bristol and Allegro Lounge in Northfield. Will take part in "Eat out to help out" scheme.
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Morses Club PLC - non-standard financial services - For year-to date, reported reduced lending volumes due to new Home Collected Credit customers. Reports sales improvement over recent months, from a 72% year-on-year decline in April to a 30% drop in June. Expects decline to further reduce in July as lending recommences. Notes that HCC sector still face several headwinds.
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CloudCall Group PLC - communications provider - Signs partnership with Informunity, which will have group's communications software integrated with business management and collaboration software firm Bitrix24, allowing for the provision of project management, sales funnel management and reporting tools.
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BMO Real Estate Investments Ltd - real estate investment trust - Net asset value per share as at June 30 was 96.6 pence, down 3.1% from 99.7p as at the end of March, due to unrealised movement in property portfolio. Property portfolio value as at end of June at GBP312.3 million.
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Tetragon Financial Group Ltd - finance-focused investment firm - Obtained ten-year USD250 million revolving credit facility, replacing current USD150 million loan.
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KEFI Minerals PLC - London-based gold exploration & development - Expects larger maiden resource from 34%-owned Hawiah gold exploration project in Saudi Arabia at 20 million tonnes, up 66% from initial 12 million tonnes target following completion of nine-month drilling and analysis, covering a strike of over 4 kilometres to a depth of up to 350 metres. Approved new mining investment law in country, aimed at boosting Saudi Arabia's mining industry, and moving away from hydrocarbons focus.
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Tlou Energy Ltd - Botswana-focused power firm - Closes entitlement offer to raise AUD3.0 million, around GBP1.7 million, with total applications for AUD2.75 million received. All remaining shares under offer to be placed by company to raise an additional AUD25,000. Will look to complete detailed design of transmission line and progress development finance options for Lesedi power project.
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BlueRock Diamonds PLC - South Africa-focused diamond miner - Plans to raise GBP1.3 million through placing and subscription of 3.5 million shares at a price of 35 pence per share, the proceeds of which will go towards fast-tracking company's growth plans and strengthening its balance sheet. Mainly will look to increase production volume to run rate of 1.0 million tonnes, or 45,000 carats per annum by the end of 2020. For second quarter of 2020 which had only 50 operating days, carats produced down to 2,478 from 3,516 the same period the year before.
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Chesterfield Resources PLC - Cyprus-based copper-gold explorer - To recommence percussion drilling campaign at its Troodos West licence area following technical review, and is looking to design a diamond drilling programme, following positive results on its first three drill targets, all encountering 30 to 40 metres of sulphide material over a surface of 140 metres.
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By Dayo Laniyan; dayolaniyan@alliancenews.com
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