(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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CyanConnode Holdings PLC - gold miner with operations in Armenia and assets in Kyrgyzstan - Intends to raise around GBP5 million to new and existing institutional investors. The shares are priced at 17 pence per ordinary share. It is equal to the closing price on January 20. Plans to use the net proceeds to further strengthen the company's balance sheet.
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Malin Corp PLC - Dublin-based investor in life sciences companies - Says Sean O'Driscoll bought a 5.3% stake in the company on January 23.
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Kefi Gold & Copper PLC - Cyprus-based gold and copper exploration and development company with projects in Ethiopia and Saudi Arabia - Agrees the USD320 million financing for its Tulu Kapi gold project in Ethiopia in principle with lenders. Aims to start full production from Tulu Kapi gold project open pit operations in 2025. "It is very pleasing that we are finalising the USD320 million financing of the Tulu Kapi gold project. This is a large complex transaction in a challenging working environment, against a backdrop of turbulent equity markets and progressive political reforms in Ethiopia. KEFI is therefore delighted with the first-class syndicate we have established to make the long-standing Tulu Kapi Gold Project an operational reality," Finance Director John Leach comments.
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Pure Gold Mining Inc - Vancouver-based gold mining company focused on Canada - Applies to the Financial Conduct Authority to cancel its listing on the London Stock Exchange. Expects the cancellation of its listing to be effective from February 21 on 0800 GMT.
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Newmark Security PLC - security services provider - Reports a pretax loss of GBP1.2 million in 2022, widened from GBP100,000 the year before. Revenue rises 8.4% to GBP19.1 million from GBP17.7 million. Administrative expenses jump to GBP7.6 million from GBP6.7 million. Says this growth was primarily driven by strong North American human capital management business growth. Looking ahead, the company states: "We are in a strong position to benefit from the exciting opportunities that our teams across the group have worked hard to develop in the past year. We are forecasting revenue growth for the coming year and year to date results show we are on target to achieve this."
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Leeds Group PLC - Wetherby, England-based textile manufacturing company - In the six months to November 30, pretax loss narrows to GBP224,000 from GBP487,000 a year before. Total administrative expenses reduce to GBP1.7 million from GBP2.2 million. Revenue remains flat at GBP15.6 million. "Trading is currently in line with forecast and the cost-cutting measures taken last year are providing a good platform on which to rebuild a profitable business," Leeds states.
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Corre Energy BV - Groningen, Netherlands-based renewable energy storage solutions and green hydrogen producer - Signs a binding commercial terms offtake agreement for a 15-year period with Eneco for the entire storage capacity of the Zuidwending compressed air energy storage project in the Netherlands. Appoints advisers to complete the European development capital investment process for ZW1 and GHH1, the green hydrogen hub project in Denmark. Notes encouraging progress at that site. "In the immediate future, Corre Energy is absolutely focussed on delivering on its key projects. In addition, the market in which the company operates, driven by the global commitment to the energy transition, is now developing very rapidly, and a number of additional opportunities are presenting themselves. Corre Energy expects to be able to leverage its early learnings and successes to deliver significant additional value for all its stakeholders for many years to come," Chief Executive Keith McGrane comments.
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Angus Energy PLC - London-based oil and gas development company - Says Paul Forrest holds a 15% stake in the company as of January 20, following the issue of 60.6 million shares at a price of 1.65 pence per share to his wholly-owned company Forum Energy Services Ltd. The shares were issued regarding a settlement in shares of GBP1 million of deferred consideration due to Forum Energy, it says.
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Hellenic Dynamics PLC - London-based medicinal cannabis cultivator and supplier - Says it is on track for its first cannabis harvest in mid-2023. Says that it is in advanced discussions with licensed medical cannabis distributors outside Germany for additional off-take agreements. Adds that it has signed two term sheets for the off-take of its THC-dominant medical cannabis flowers into Germany's advanced medical cannabis market. Expects the European medical cannabis market to reach EUR43.3 billion by 2027. "We have continued to make good progress since our IPO and our cultivation and processing facility in Greece is on track to be ready for the first harvest to take place in the second quarter of this year. With discussions with new potential off-take customers on going, and the price of THC-dominant medical cannabis holding firm, we look to the future with confidence and can't wait for our products to start changing patients' lives for the better during 2023," CEO Davinder Rai comments.
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BlueRock Diamonds PLC - diamond producer focused on South Africa - Says its operations at the Kareevlei diamond mine in the Kimberley region of South Africa were suspended by the South African Department of Mineral Resources & Energy on January 20. Operations will be suspended until contraventions identified by them are rectified, it says. Expects the site to be operational by Friday.
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tinyBuild Inc - Washington, US-based indie games publisher - Says that revenue for 2022 is in line with expectations. Adds that adjusted earnings before interest, tax, depreciation, and amortization are "broadly" in line with expectations. Says that it performed strongly in the second half of 2022, both in terms of sales and game development. "Our focus and shared love for video games resulted in a record Q4 sales period, with a highly diversified portfolio of games across all platforms and early signs of success of our cross-media strategy. We are building something to outlive us as a generation," CEO Alex Nichiporchik comments.
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Caracal Gold PLC - East Africa-focused gold producer - Sells 806 ounces of gold in the third quarter of 2022, down from 835 ounces in the fourth quarter from its flagship Kilimapesa gold mine. Reports excellent progress at Nyakafuru gold project in Tanzania and completes the first phase of its exploration project on schedule and on time. Hopes to appoint Simon Grant Rennick as executive chair subject to certain final commercial negotiations and legal formalities. "Q3 and Q4 saw Caracal advance several work programmes at its flagship asset, the Kilimapesa Gold Mine in Kenya, where we are focused on increasing both mining and processing capacity to lift production to 24koz Au per annum. While the delay in funding has slowed activities, in addition to the development of the mine plan and ongoing work at the new processing plant, we are also analysing results from regional exploration programmes to grow our resources and further strengthen the project's economics," CEO Robbie McCrae comments.
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By Abby Amoakuh, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
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Cyanconnode (CYAN)
Kefi Gold (KEFI)
Newmark Security (NWT)
Leeds Group (LDSG)
Angus Energy (ANGS)
Hellenic Dynamics (HELD)
Tinybuild Inc (TBLD)
Caracal Gold (GCAT)