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TRADING UPDATES: Base Resources output up; Carnival closes credit line

Tue, 19th Oct 2021 14:48

(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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Base Resources Ltd - mineral sands developer with assets in Kenya and Madagascar - Produces 72,866 tonnes of ilmenite in the quarter ended September 30, up 11% from 65,863 in the same period a year earlier. Rutile output rises for 17,762 tonnes in the September quarter, from 15,513 tonnes the year prior. While zircon production rises 1.2% year-on-year to 6,069 tonnes, from 6,000 tonnes. Compared to the same period a year prior, ilmenite sales fell sharply to 34,107 tonnes from 75,502 tonnes as zircon sales also dropped 23% to 5,622 tonnes from 7,336 tonnes. Rutile sales rose year-on-year to 13,791 tonnes from 11,651 tonnes. Extends the mine life of its Kwale Operations to December 2023, following a mining lease extension.

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Carnival PLC - Florida, US-based cruise operator - Closes USD2.3 billion senior secured term loan facility for refinancing. Says proceeds from the new incremental term facility will be used to redeem all outstanding 12% first priority senior secured notes due in 2023, including interest. Expects the refinancing to extend maturities and produce annual interest savings of USD135 million. "Loans under the new incremental term facility will bear interest at a rate per annum equal to adjusted LIBOR with a 0.75% floor, plus a margin equal to 3.25%, and will mature in 2028," the company adds.

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Augmentum Fintech PLC - fintech-focused investment company - Contributes GBP10 million to the latest funding round of digital bank Zopa alongside other existing investors IAG Silverstripe LLC, Northzone, and Davidson Kempner Capital Management. Says the GBP220 million funding round was led by SoftBank Vision Fund 2. The funding will be used to meet Zopa's capital requirements as its balance sheet expands, the company says. To date, Zopa has received around GBP675 million in deposits via its fixed savings accounts.

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Condor Gold PLC - mine developer in Nicaragua - Expects to release a feasibility study for its La India project in Nicaragua in the first quarter of 2022. Says supporting field and testing studies are nearing completion at La India, with final mine design to commence in November. These studies will increase confidence in the project and support operating cost estimates, the company says. This includes surface water modelling as well as processing plant and tailings storage design, all of which are complete. Whilst a draft report of its metallurgical studies are due by the end of October. A mineral resource estimate and geotechnical drilling results are also well underway.

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Tatton Asset Management PLC - Wilmslow-based fund manager - Says assets under management total GBP10.8 billion in the six months ended September 30, up from GBP7.8 billion at the same point a year earlier. Notes strong growth across all key metrics as it trades in line with expectations in the first half.

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Lexington Gold Ltd - gold exploration and development company operating in North and South Carolina in the US - Begins 5,000 metre reverse circulation drilling programme at its Carolina Belle and Jones-Keystone-Loflin projects in the US. Says drilling has now begun at the Carolina Belle area.

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United Oil & Gas PLC - producer and explorer in the Mediterranean, Caribbean and Latin America - Begins production at ASX-1X exploration well in the Abu Sennan licence, onshore Egypt. Declares new commercial discovery at the ASX-1X well. "Preliminary results suggest the well encountered a combined net pay total of at least 10m across a number of reservoir intervals, including the primary reservoir targets of the AR-C," the company says.

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Invinity Energy Systems PLC - Jersey-based manufacturer of vanadium flow batteries - Delivers 0.8 megawatt storage system to Scottish Water. Says the vanadium flow battery and solar PV generation will reduce energy costs at Scottish Water's waste water treatment works in Perth. Begins work alongside the principal contractor, Absolute Solar and Wind, to set up and commission the system. Expects the system to go live by the end of 2021.

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Itim Group PLC - technology company based in London - Launches omni-channel store solutions product, Chameleon 360. Rolls out the product to many clients. Says the product includes in-store mobile apps, consumer apps, integrated with e-commerce platforms. "The platform gives stores similar functionality that would be expected in a call centre from a 'customer service' perspective. The system also provides store staff with a real-time view of stock across the network," the company says.

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Ecofin US Renewables Infrastructure Trust PLC - London-based investor in US renewable energy assets - Subsidiary RNEW Capital LLC enters USD65 million secured revolving credit facility with KeyBank. The facility includes: a USD50 million two-year facility at LIBOR plus 1.8%; a USD15 million three-year facility priced at LIBOR plus 2.0%; and, a USD20 million conditional Accordion option. Plans to use the facility to fund its committed pipeline of USD50 million.

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Tremor International Ltd - Tel Aviv-based advertising technology company - Buys ad server and media management platform Spearad for USD14.7 million. The consideration includes USD11.0 million in cash, with remaining USD3.7 million to be satisfied through the issue of 370,000 ordinary shares to be released over three years.

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By Scarlett Butler; scarlettbutler@alliancenews.com