TRADING UPDATES: Anglo-Eastern tips palm oil price fall; DX expands

Mon, 28th Jun 2021 19:35

(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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Anglo-Eastern Plantations PLC - palm oil and rubber producer in Indonesia and Malaysia - Says production of fresh fruit bunches in five months to May 31 up 16% year-on-year. Says crude palm oil output 26% higher and CPO price average USD1,120 per metric tonne, up 70% year-on-year. "The group expects prices to moderate in the second half of the year on the back of higher crop production. CPO prices are also expected to weaken by a pull back in prices of competing soybean oil due to better weather ameliorating crop concerns in the United States, as well as likely lower biofuel targets," Anglo-Eastern adds.

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DX Group PLC - Slough, England-based mail, courier and logistics company - Expands in north east of England with new depot in Middlesbrough for its DX Express unit. Company adds: "The new depot, located in Riverside Park Industrial Park, replaces a smaller site in Hartlepool, and will become the centre of operations in the region for the DX Express division. DX Express offers a range of highly secure, tracked and express delivery services for documents, pouches and parcels to both B2B and B2C end-customers."

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Zinnwald Lithium PLC - High Wycombe, England-based mineral exploration and development company - Chair Jeremy Martin at annual general meeting notes company has sealed acquisition of Deutsche Lithium GmbH and completed initial testwork of lithium hydroxide project. Says "highly encouraging" early results. "As we continue to advance the project, its permitting and financing, we believe the 100% ownership structure has significant benefits, including providing our shareholders with greater exposure to the project's long-term value," Martin adds.

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Condor Gold PLC - Surrey, England-based gold exploration and development company - Reports "significant" drill intercept of 25.93 metres at 3.94 grammes per tone of gold, from depth of 263.82 metres, at Cacao prospect, Nicaragua. "This is the best drilling intercept returned to-date from the Cacao prospect," company says. "This assay result supports the geological model that Cacao is a fully preserved, deep-seated epithermal gold mineralisation system, with the potential to host a significant gold deposit."

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Caerus Mineral Resources PLC - exploration & resource development company - Agrees terms to buy Cyprus Gold Mines Ltd, an exploration and mining firm with three copper-gold assets. Deal values CGML at GBP300,000, payable on completion.

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Prospex Energy PLC - exploration investment company with core investments in Spain and Italy - Says 83% of holders agree to rollover 2018 loan note into new unsecured 2021 note. Says terms largely unchanged but repayment date extended by 18 months and interest rate upped to 12% from 10%. "Board believes high uptake of rollover reflects progress made across European gas and power portfolio," Prospex says.

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Quadrise Fuels International PLC - supplier of emulsion technology and cleaner fuels - Seeing interest in bioMSAR fuel oil alternative "from all segments of the energy market that are targeted". Quadrise adds: "This is creating significant demand in the sector for low carbon emissions and renewable fuels, incentivising Quadrise to further accelerate its bioMSAR testing, development and production plans."

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Mosman Oil & Gas Ltd - London-based metals exploration and development company - Says Falcon-1 well, Texas continues to produce gas and oil with only "small" quantity of water. Well has now produced average of 114 barrels of oil equivalent per day of gas and seven barrels of oil per day of condensate. Total of 121 boepd over past five days. Mosman adds: "Gas continues to be sold utilizing the existing pipeline facilities, and oil is transported off site by truck."

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i3 Energy PLC - oil & gas company with assets and operations in the UK and Canada - Says A-52-G horizontal gas well at Noel acreage in British Columbia brought on-stream earlier in June. Production from well averages 650 barrels of oil equivalent per day, exceeding expectations by 30%. Says Marten Hills 01-12-075-26W4 well spud on June 15. CEO Majid Shafiq says: "We are very pleased with the initial production performance of the Noel well, which has exceeded expectations, will contribute to year-end reserves additions and has de-risked similar offsetting drilling locations. Operations in Marten Hills have proceeded exceptionally well and we look forward to bringing these wells onto production in late July."

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Chesterfield Resources PLC - London-based company focused on discovery and development of copper deposits - Begins diamond drilling in Cyprus, exploring for copper, gold, silver and zinc. "The programme is expected to cover approximately 2,000m of drilling," Chesterfield adds.

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Tertiary Minerals PLC - mineral exploration and development company - Element-46 Ltd says reservation notice for exploration permit at Kalkkinen Prospect, Finland cancelled on environmental grounds. Tertiary adds: "The company has been advised by E46 that the licence reservation was not granted, the company will not be entitled to receive the E46 shares, and the future royalty interest referred to in the prior announcement will fall away."

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Altus Strategies PLC - mining royalty company - Says further targets outlined at Tabakorole gold project in Mali. Adds 3,000 metre diamond drilling programme completed, with results pending. CEO Steven Poulton says: "Ground magnetic and soil sampling surveys have successfully defined numerous additional targets at the Tabakorole gold project in southern Mali. Marvel Gold, our ASX listed JV partner, is aggressively advancing the project, with drilling currently targeting near-surface, high-grade intercepts that fall outside of the previously modelled mineralisation."

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Aura Energy Ltd - Australia-based minerals company - Calls on MinCore Engineers Pty Ltd to begin work to update capital estimate for definitive feasibility study of Tiris uranium project. "The capital estimate update will reflect 2021 input costs allowing a clear path to the near-term development of Tiris project," Aura says. "Completion of capital estimate update expected in first week of July 2021."

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Power Metal Resources PLC - London-based metals exploration and development company - First phase of work programme has begun at gold-nickel properties in the Tati greenstone belt, Botswana. "Power Metal has an option to acquire a 100% interest in the Tati projects through its local wholly owned operating subsidiary Power Metal Resources Botswana Pty Ltd," Power Metal says.

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SDX Energy PLC - London-headquartered oil and gas exploration, production, and development company - Completes initial three well phase of 2021 drilling campaign in Morocco. Total programme consists of five wells. "I am pleased to announce that the company has successfully drilled the first three wells of its 2021 drilling activities which will total up to eleven wells across our portfolio of assets. The OYF-3, KSR-17 and KSR-18 wells in Morocco were all commercial successes, and OYF-3 and KSR-17 are already connected and producing into our infrastructure," Chief Executive Officer Mark Reid says. "In Egypt we are expecting to commence the drilling of the IY-2 step out development well at South Disouq in the coming days, and our planning for the potentially transformational HA-1X exploration well is significantly progressed, with spud expected in Q3 2021."

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Oakley Capital Investments Ltd - investment vehicle offering access to Oakley Funds - Says Oakley Capital Private Equity III reaches deal to sell stake in ACE Education, a vocational higher education platform in France and Spain. Oakley Capital says its share of proceeds to be around GBP16 million. As part of deal, Oakley Capital Origin Fund to invest GBP40 million, alongside media firm Groupe Amaury and ACE founder Patrick Touati. Oakley Capital's contribution via Origin Fund to be about GBP10 million.

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Riverstone Credit Opportunities Income PLC - makes senior secured loans to small and middle-market energy companies - Realises Project Chase investment. In July 2019, company committed USD12.3 million to an exploration firm focused on dry gas window of Eagle Ford basin. Riverstone adds: "30% of the loan was paid down in April 2021, and on 25 June 2021, the remainder was fully realised." No longer has exposure to exploration and production sector.

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VietNam Holding Ltd - investment firm focussed on high-growth companies in Vietnam - Exited its position in ABA through full repayments of bonds and interest on June 25. Back in July 2019, VNH made VND139.8 billion investment in ABA through convertible bonds. "The investment was a private-equity transaction, structured with a negotiated set of terms and conditions, including the right to convert into equity once the foreign ownership limits allowed, and once there was the visibility of a listing, and yet provide downside protection in the form of full redemption in the event that there was not a listing event imminent," VietNam says. In late 2020, VNH decided against exercising conversion and instead asked for repayment. Company adds: "The realisation does not have a material impact on VNH's net asset value."

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NFT Investments PLC - investment in non-fungible tokens - Reports "excellent progress" despite "difficult trading conditions in the crypto market". Says since April 16 AQSE float, bitcoin tumbles to USD31,200 as of June 26 from USD63,000. "This has also impacted asset values in the non-fungible tokens market; for example, the price of Flow has fallen by approximately 78% from USD36 to USD8 over the same period," NFT says. "However, NFT's highly selective and cautious investment policy, together with the board's considerable industry experience, has positioned the company to take advantage of the unexpected industry correction at more attractive valuations as and when investment conditions stabilise."

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FastForward Innovations Ltd - Guernsey-based investment company - Invests further AUD2.8 million, about GBP1.5 million, in Sydney-listed portfolio firm Little Green Pharma Ltd. Now has 3.2% stake in medicinal cannabis firm. In addition, company sells 18,183 shares in Portage Biotech Inc, netting USD732,952, and representing a gain of USD551,000.

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Tern PLC - internet of things-focused investor - Investee Wyld Networks AB to receive SEK25 million, about GBP2.1 million, from initial public offering in Stockholm.

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Bluefield Solar Income Fund Ltd - Guernsey-based income fund that invests primarily in solar assets - Strikes conditional agreement to acquire 109 small scale UK onshore wind turbines for GBP60 million. Also has prospect of increasing investment by further GBP35 million to re-power 17 turbines in Northern Ireland. Also announces GBP100 million placing, open offer and offer for subscription at 118 pence each.

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Impact Healthcare REIT PLC - real estate investment trust focused on healthcare properties - Inks GBP26 million loan facility with NatWest, with accordion option to up financing to GBP50 million. Loan has three year term, with option of two added years. Has yearly margin of 190 basis points above SONIA. "At the same time, the group has agreed to repay GBP10 million of its GBP25 million term loan with Metro Bank PLC," Impact adds.

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Futura Medical PLC - Surrey-based pharmaceutical company - Notes MED3000 erectile dysfunction treatment has CE approval mark in Europe, paving way for green light in Middle East, Africa, the Far East and Latin America. "For the US, planning and preparation activities such as active site recruitment are well underway for the start of FM71, the confirmatory study to be conducted prior to formal regulatory submission to FDA as a de-novo medical device. Trial start is on schedule with first patient dosing expected Q3 2021," Futura says.

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MyHealthChecked PLC - Cardiff-based consumer home-testing healthcare - Buys genetic testing and nutrition consultancy firm Nell Health Ltd for initial GBP1.2 million, mostly in shares and GBP50,000 in cash. Notes a deferred consideration of GBP1.0 million, performance-based and payable in shares. "Nell Health, based in New Covent Garden Market, has developed an innovative technology platform that offers users personalised accessible and actionable outcomes to improve health and wellness based on information gathered from a Nell Health DNA test. Customers taking a test are provided with diet and exercise insights by experts, based on the analysis of DNA relating to nutrition including food intolerance, potential vitamin deficiencies and exercise types that suit that individual's body," MyHealthChecked says.

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Renalytix PLC - Cardiff, Wales-based clinical diagnostics for kidney disease - Says new data shows KidneyIntelX platform can monitor therapeutic response and kidney health in adults with type 2 diabetes. "By accurately assessing therapeutic response, particularly in patients at high risk for kidney failure, KidneyIntelX can potentially address a major barrier for primary care physicians and specialists in using new pharmaceuticals to slow kidney disease and improve outcomes," company says.

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Nanoco Group PLC - Manchester, England-based heavy-metal-free quantum dots manufacturer - Updates on litigation against Samsung Electronics Co over alleged intellectual property infringement. Calls on Eastern District of Texas to delay court trial for Samsung patent infringement claim until Patent Trial & Appeal Board makes decision of inter partes reviews. Nanoco explains: "IPRs are a standard part of IP litigation and examine the validity of the patents themselves." Company adds: "A ruling in favour of the joint motion is expected shortly. It is expected that a trial will be re-scheduled for late 2022 once the outcome of the IPRs is known."

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PCF Group PLC - parent of PCF Bank Ltd, serving individuals and small businesses - Says 2020 report audit issues relate to intercompany transfers and balances as well as issues related to funding provided by PCF Bank to unit Azule Ltd. PCF adds: "The board is very disappointed and concerned by these findings and is determined to ensure that the PCF Group adheres fully to the high standards of financial control and reporting expected by it and also by its regulators, shareholders and other key stakeholders. The board is urgently taking steps to remediate the deficiencies identified in financial controls and corporate governance and has commenced work to ensure that a clear plan is in place to enhance PCF Group's corporate governance." Announces restructuring of senior leadership team, including appointment of chief risk officer and general counsel. Also plans to recruit "additional colleagues with "skills and experience required for a listed bank". Company says trading continuing as normal. PCF says: "Covid-related payment deferral levels continue to reduce and the performance of its lending portfolio is in line with expectations."

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RTW Venture Fund Ltd - investment company focused on the life sciences sector - Portfolio firm GH Research PLC raises USD160 million in initial public offering of 10 million shares at USD16.00 each. GH's shares rose 20% on first day of trading to close at USD19.25 a share.

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Totally PLC - healthcare services provider across the UK and Ireland - Wins new contract worth GBP850,000. Will provide endoscopy procedures to Saolta Group of Hospitals in Galway, Republic of Ireland, covering six hospitals. "Totally Healthcare will help the hospitals to shorten patient waiting lists, which have increased significantly throughout the Covid-19 pandemic with non-urgent procedures being delayed," Totally says. "Contract commences in July 2021 and runs until March 2022."

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Tissue Regenix Group PLC - regenerative medical devices company - Completes phase one expansion plans to increase capacity at San Antonio, Texas facilities. Tissue adds: "The remaining aspects of phase one consisted of expanding the space for supporting administrative departments, which has taken place in the company's leased facility adjacent to its existing facility, and building and qualifying two additional clean rooms, which are in the company's existing facility."

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Apollon Formularies PLC - London-based medical cannabis company - Says its medicinal cannabis formulations successful in killing triple-negative breast cancer cells in lab setting. "The testing results showed that Apollon Jamaica's medical cannabis formulations were effective in killing living triple-negative cancer cells directly (direct cytotoxicity). The Apollon medical cannabis formulations killed nearly 100% of the triple negative breast cancer cells in 3D cell cultures," Apollon says.

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Genus PLC - Basingstoke, Hampshire-based company that sells products made using biotechnology to cattle and pig farmers - Says porcine genetics unit PIC enters into strategic pact with shareholders of Spanish porcine genetic distributor Sergal Gestio Ramadera SL. "Sergal is a leading porcine distributor in Spain and its high quality supply chain, commitment to customer service and innovative culture make it an ideal partner to enhance the distribution of PIC's elite porcine genetics in the Spanish and European markets," Genus says. PIC to acquire Sergal's semen supply chain. "Within the EU, the pig herd in Spain continues to expand year on year due to strong domestic demand and a focus on exports. Spain continues to be one of the key global pork markets exporting to China," Genus says.

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Guild Esports PLC - e-sports business headquartered in London - Wins third major esports trophy, with Fortnite player Tai Starcic winning Fortnite Champion All-Star Showdown. Prize money from event totalled USD167,000. "To see Guild win a third major trophy in such quick succession is incredible. The hard work and dedication everyone has put in, from our players and coaches to sports psychologists, is delivering world-class results in some of the biggest esports tournaments. This latest victory is also a testament to Guild's academy model which is aiding players to consistently perform at their best," CEO Kal Hourd says.

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By Eric Cunha; ericcunha@alliancenews.com