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UK TRADING UPDATE SUMMARY: Petra Strikes Deal With South African Union

Tue, 06th Oct 2020 19:28

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

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Petra Diamonds Ltd - operator of diamond mine in South Africa - Concludes one-year wage agreement with National Union of Mineworkers which covers operations in South Africa for year ending June 30, 2021. To make one-off payment to employees in A and B Paterson Bands grade of between ZAR5,000, about GBP232.86, to ZAR8,000. "In addition, employees in the A Paterson band will receive an increase of 5.5% in their cash earnings, effective 1 January 2021, with employees in the B Paterson band receiving 5%. Apart from wage increases, the agreement also covers various outstanding discussion points between Petra and the NUM, with clear timelines for finalisation of these, as well as a commitment to continue discussions on a wage agreement for the following financial year to 30 June 2022," Petra said.

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Strategic Minerals PLC - battery materials minerals company with asset in Australia - Reports "significant uplift" to economics at unit Cornwall Resources Ltd's project following updated mining scoping study. Internal rate of return rises to 29% and net present value with 8% discount at USD128 million, assuming consistent metal price assumptions.

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Galantas Gold Corp - owner of Omagh gold mine in Northern Ireland - Says underground mining operations at Omagh remain suspended but concentrate processing re-started on May 26. In third quarter ended September 30, 98 tonnes of concentrate was despatched, containing an estimated 386.2 troy ounces of gold. "Active discussions continue with a number of potential partners regarding funding to provide the investment required for additional mine development and exploration," Galantas said.

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Caledonia Mining Corp - St Helier-based miner - Signs agreement with government of Zimbabwe to evaluate mining rights, properties or projects in gold sector. "Caledonia believes Zimbabwe is a highly prospective region for gold discoveries. Caledonia has assessed and continues to assess investment opportunities in the Zimbabwe gold sector that are privately owned," Caledonia said.

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Castillo Copper Ltd - Australia and Zambia focused base metal explorer - Geochemical review finds Eldorado prospect at Mt Oxide project to be "prospective for structurally controlled copper and gold mineralisation". Commencing drilling at Mt Oxide among the next steps for company.

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Chaarat Gold Holdings Ltd - London-based gold miner focused on Armenia and Kyrgyz Republic - Refinances USD19.4 million of loans plus USD1.1 million of interest. Notes USD13.5 million of investor loan extended to December 31, 2024 with 9.5% interest. Reports USD7.0 million loan with same lender has option for maturity date extension to December 31, 2021. Interest rate increases to 14% from 13% and principal repayment rises to USD7.5 million.

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Tertiary Minerals PLC - Nevada-focused mineral exploration and development company - Toronto-listed Aurion Resources Ltd completes maiden drill programme at Kaaresselka Project in Finland, where Tertiary holds "various royalty interests".

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Blue Star Capital PLC - esports, payments and technology focused investor - Investee company Dynasty eSports Pte Ltd signed three software as a service agreements in third quarter, providing extra contracted SaaS revenue of USD2.8 million over the next year. Blue Star notes its 13% stake in Dynasty is valued at GBP1.3 million.

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Curtis Banks Group PLC - financial services firm - Expects to complete acquisition of Talbot & Muir Ltd on October 30 and said all preconditions have been satisfied.

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Supermarket Inc REIT PLC - UK-focused supermarket income trust - Increases initial issue size to up to GBP200 million from GBP150 million amid "strong level of support from investors".

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Altus Strategies PLC - Didcot, Oxfordshire-based mineral project royalty generator - Says 3,800 metre drilling at Lakanfla gold project, Mali begins. Programme funded by Marvel Gold Ltd, as part of joint-venture with Altus.

Panthera Resources PLC - Manchester-based gold explorer - Secured interest in Bido PRM licence with support of joint-venture partners and Ministry of Mines of Burkina Faso.

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Edenville Energy PLC - operating of the Rukwa coal project in southwest Tanzania - Says employee numbers at Rukwa have been chopped by 50%. Says anticipated handover date of operations at Rukwa to Infrastructure & Logistics Tanzania Ltd hit by administrative issues in Tanzania.

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Vast Resources PLC - mining company - Says Atlas Special Opportunities LLC gives notice that it wishes to convert bonds of USD500,000. "The company can confirm it has satisfied the exercise of conversion rights by making payment of the cash alternative amount of USD555,555," Vast said.

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SolGold PLC - Australian gold and copper mining company - Says drill rig arrives at Cerro Quiroz, Ecuador to begin drilling at Blanca project.

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Zenith Energy Ltd - Africa-focused oil and gas producer - Requests for shares to be suspended as yet to publish annual report for year to March 31.

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Good Energy Group PLC - renewable electricity supplier - Notes Zap-Map completes roll-out of new electric vehicle charging payment service with launch partner Engenie.

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Plant Health Care PLC - North Carolina-based agriculture firm - Reports four new PREtec peptide products patents issued by US Patent & Trademark Office. Expects to be granted additional patents before end of year and has filed more than 50 applications since 2012.

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Oncimmune Holdings PLC - immunodiagnostics company - Collaboration with Medicines Discovery Catapult awarded UK government funding which will go towards research tool for infectious diseases. "This collaboration represents a critical partnership in response to the Covid-19 pandemic and will focus on enabling better treatment selection for patients according to their immune profile," Oncimmune said.

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RBG Holdings PLC - London-based law firm - Says law fim Rosenblatt Ltd has continued to trade well, notes case volumes and value " significantly ahead year-on-year". Expects revenue and realised gains between GBP24 million and GBP26 million, improved from GBP23.7 million in 2019.

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St Peter Port Capital Ltd - investment company - Sells entire holding in Agriculture Investment Group Corp for USD176,474. Says 336,140 shares sold at 52.5 cents each. "The proceeds of the sale will be used for general corporate purposes," company says.

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Tetragon Financial Group Ltd - finance-focused investment firm - Says diversified alternative asset management business, TFG Asset Management enters into agreement with Brandon Baer. Tetragon says it will invest in Baer's newly-created company names Contingency Capital, an asset manager of litigation finance related investment funds. "TFG Asset Management will receive a significant minority equity interest in Contingency Capital and Tetragon will provide Contingency Capital with, among other things, working capital and a USD50 million commitment to Contingency Capital's first commingled investment fund, with Tetragon retaining the option to invest further amounts," Tetragon said.

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Augmentum Fintech PLC - fintech investment company - Investee Seedrs announces plans to merge with Crowdcube, "creating one of the world’s largest private equity marketplaces", Augmentum said. Investee Tide awarded GBP25 million grant from RBS Alternative Remedies Package to "strengthen the challenge to high street banks".

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Merian Chrysalis Investment Co Ltd - London-based investor in later stage private companies - Raises target result of placing to GBP75 million due to "significant demand".

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CareTech Holdings PLC - Potters Bar, Hertfordshire-based social care and education services provider - Completes deal to take majority stake in Smartbox Assistive Technology Ltd and Sensory Software International Ltd. Smartbox provides technology allowing disabled people without speech to communicated easier. CareTech pays GBP10.6 million to take 70% stake.

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Tribal Group PLC - education software and services provider - Wins GBP2 million contract for supply of SITS:Vision Student Management System to Arden University for five years. "There is an option to extend for an additional two years at the end of the initial contract period and then extend for a further two years beyond that," Tribal said.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

More News
19 Sep 2023 19:43

IN BRIEF: Zenith signs memorandum of understanding for Kazakhstan deal

Zenith Energy Ltd - Calgary, Canada-based energy firm - Signs a third memorandum of understanding with a company incorporated in Kazakhstan to evaluate the potential acquisition of an oil production and development asset. Explains the seller holds a 100% interest in the asset located in the Atyrau region. Notes the acquisition target formerly produced from wells drilled in 2008 at a rate of approximately 200 barrels of oil per day prior to the onset of the Covid-19 pandemic. Production is currently suspended. The purpose of the MOU is to formalise a framework whereby Zenith's interest may be completed subject to the completion of a rigorous technical and financial due diligence. According to the terms of the MOU, commercial terms, if agreed, are to be formalised by way of a share purchase agreement on or before November 30.

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15 Sep 2023 10:46

Zenith Energy strikes deal for possible buy of Kazakhstan oil assets

(Alliance News) - Zenith Energy Ltd on Friday said it has signed a second memorandum of understanding with an unnamed company in Kazakhstan to explore the potential of buying two oil development assets in the Kyzylorda region.

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4 Sep 2023 13:22

Zenith Energy signs accord for Kazakh asset, terminates two deals

(Alliance News) - Zenith Energy Ltd on Monday said it signed an accord with an Kazakh-incorporated firm, entitling Zenith a period of exclusivity of 90 days to evaluate a potential acquisition.

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29 Aug 2023 12:04

Zenith Energy buys US-listed company to use as acquisition vehicle

(Alliance News) - Zenith Energy on Tuesday said it has acquired Cyber Apps World Inc via a securities purchase agreement with Janbella Group LLC.

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4 Aug 2023 18:02

IN BRIEF: Zenith Energy ends discussions with Benin over Seme oilfield

Zenith Energy Ltd - Calgary, Canada-based energy company with production, exploration and development assets in Africa and Europe - Decides to end negotiations with the Benin Ministry of Water and Mines for the finalisation of a production sharing contract for Block 1, which contains the Seme oilfield, offshore Benin. Says the board took this decision following a "comprehensive evaluation of recent geopolitical developments in the vicinity of Benin". This is alongside the "significant long-term investment required to successfully develop the Seme oilfield, and the material progress made in other jurisdictions where Zenith now intends to maximise its technical and financial resources with comparatively reduced risk for the company's shareholders".

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3 Aug 2023 18:04

IN BRIEF: Zenith Energy agrees to acquire Texas oil & gas interest

Zenith Energy Ltd - Calgary, Canada-based energy company with assets in Africa, Europe and the Middle East - Signs accord for acquisition of interest in Texas oil & gas acreage for around USD50,000. Says seller owns 100% gross working interest, 75% net revenue interest in 320 acres in a oil and gas lease of around 320 acres from surface down to a depth of approximately 800 metres, located in the east half of section 14, block 50 at University Lands in Crockett County, Texas. The seller will retain a carried GW of 10% of all drilling and completion work necessary for the first two wells to be drilled. Confirms its intention to operate the property and conduct oil and gas extraction and exploration activities. The seller has agreed to pay "its proportionate share of all subsequent drilling and completion work to be performed, as well as its share of ongoing operating costs, including workovers".

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2 Aug 2023 14:17

IN BRIEF: Zenith Energy pays off full Vienna bond coupon

Zenith Energy Ltd - Calgary, Canada-based energy company with assets in Africa, Europe and the Middle East - Says it recently made coupon payments, in respect of four multi-currency euro medium term notes, in full and on time. Company had issued the notes on the Vienna MTF. Notes were in Swiss francs, euros, US dollars and Great British pounds.

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31 Jul 2023 14:36

EARNINGS UPDATES: Kropz annual loss widens on impairments

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

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10 Jul 2023 11:07

Zenith Energy obtains USD6.5 million account seizure in Switzerland

(Alliance News) - Zenith Energy Ltd on Monday said it successfully obtained a "conservative seizure" for an amount equivalent to approximately USD6.5 million deposited in a bank account in Switzerland.

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5 Jul 2023 15:30

TRADING UPDATES: RTW plans buyback; Octopus AIM VCTs eye fundraise

(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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4 Jul 2023 16:20

IN BRIEF: Zenith Energy subsidiary awarded EUR30,000 in damages

Zenith Energy Ltd - Africa, Middle East and Europe-focused energy production and development company - On Monday, says its fully owned subsidiary Anglo African Oil & Gas Congo SAU has been awarded a payment of compensatory damages by the Paris Commercial Court in its claim against SMP Energies, the rig contractor that performed drilling services in wells TLP-103 and TLP-103C of the Tilapia oilfield during 2018 to 2019. SMP Energies is ordered to pay EUR30,000 to Anglo African.

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23 Jun 2023 10:42

IN BRIEF: Zenith signs deal with South Sudan for oil and gas licence

Zenith Energy Ltd - Calgary, Canada-based energy company with production, exploration and development assets in Africa and Europe - Signs memorandum of understanding with the Minsitry of Petroleum in South Sudan for a licence negotiation. Says this relates to the acquisition and development of oil and gas production licences.

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7 Jun 2023 08:53

Zenith Energy asks arbiter for USD48 million from Tunisia for harm

(Alliance News) - Zenith Energy Ltd on Tuesday said it filed legal proceedings against Tunisia, accusing the government of harming the commercial interests of investors in the country.

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2 Jun 2023 09:34

IN BRIEF: Zenith Energy to buy various oil production assets across US

Zenith Energy Ltd - Calgary, Canada-based energy company with production, exploration and development assets in Africa and Europe - Signs deal with Stateside Energy LLC to buy a portfolio of oil production and development licences in Oklahoma, as well as certain other states in the US. Says under the deal, Zenith will incorporate a wholly owned special purpose vehicle in the US for the purpose of acquiring oil wells and licence blocks, called Newco. Says Stateside agrees to sell its oil production wells to Newco, subject to the completion of a satisfactory due diligence by Zenith for a nominal consideration.

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26 May 2023 09:11

Zenith Energy shares up on plans to move into US market

(Alliance News) - Zenith Energy Ltd shares were up on Friday, after it said it plans to buy in the US.

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