TRADING UPDATES: Goldplat appoints chair; 3i portfolios make progress

(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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3i Group PLC - FTSE 100-listed London-based investment company - Says its investment portfolios continue to "make good progress in what are more challenging markets." Notes Private Equity portfolio sees assets in value-for-money consumer, healthcare, speciality industrial and business and technology services sectors generate "strong" earnings. Says assets exposed to discretionary spending continue to see headwinds.

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Riverstone Energy Ltd - Guernsey-based energy and power-focused private investment firm - Says two of its portfolio companies, Hammerhead Resources Inc, a Calgary-based energy company, and Decarbonization Plus Acquisition Corp IV, a special purpose acquisition company, plan to merge. Says combination values Hammerhead at an enterprise value of CAD1.39 billion. Firms holds 17% interest in Hammerhead, which is now valued at CAD177 million. Deal is likely to close in first quarter of 2023. The new firm will be listed on Nasdaq.

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OptiBiotix Health PLC - York-based probiotics developer tackling cardiovascular diseases and lifestyle conditions - Signs exclusive distribution agreement with Shandong Longlive Biotechnology Co Ltd for distribution of Longlive's xylooligosaccharide prebiotic into the human nutrition markets in Europe and Africa. Notes product will be branded OptiXOS. "Longlive is one of the global technology and market leader in the novel prebiotic XOS. The company has a core capability in corn and corncob processing into various food ingredients such as starch, polyols, sugar replacers, monosaccharides and prebiotic fibres," company says.

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Wishbone Gold PLC - Gibraltar-based precious metals trading and exploration company with assets in Australia - Completes 3D magnetic inversion model at Anketell gold-copper project. Chair Richard Poulden adds: "The results of this magnetic modelling provide a compelling drill target at a shallow depth. This due diligence work indicates the Anketell discrete bullseye magnetic feature, which is similar to other known mineralised features in the district, definitely warrants drill testing."

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Vaalco Energy Inc - Houston, Texas-based exploration and production in West Africa - Says government of Equatorial Guinea approves Venus - Block P plan of development. Notes it has 80% interest in project, and is the operator. Targets first oil in 2026, with 23.1 million barrels of oil of 2P CPR gross reserves. Expects production from the field to reach about 15,000 gross barrels of oil per day upon completion of the two development wells and injector well.

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Blencowe Resources PLC - London-based miner focused on developing the Orom-Cross graphite project and Akelikongo nickel project in Uganda - Starts definitive feasibility study for flagship Orom-Cross project. Says is "moving quickly" with project following pre-feasibility study results. Notes DFS is the last step in terms of major studies prior to making a decision to mine.

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Goldplat PLC - South Africa and Ghana-focused gold miner - Appoints board member Gerard Kisbey Green as non-executive chair, with immediate effect, succeeding Matthew Robinson. Green has been a director of firm for more than 7 years, in an executive and subsequently a non-executive capacity. "With an in-depth knowledge of the group, as well as significant industry and investment banking experience, the company believes that he is well qualified to guide the board of directors," company adds.

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By Paul McGowan; paulmcgowan@alliancenews.com

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