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TRADING UPDATES: Libertine's strategic review; One Health sales up

Mon, 29th Apr 2024 16:28

(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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Critical Metals PLC - London-based developer and operator of the Molulu copper & cobalt project - Confirms the start of groundworks for the rehabilitation of a 17 mile public road leading to the flagship Molulu Project in the Democratic Republic of Congo. Further, appoints a DRC-based contractor, DRC Green, to update the Environmental Impact Study and Environmental Management Plan at Molulu as part of its ESG commitments. Explains the planned road upgrades will ensure project infrastructure is able to support increased traffic and the effect of the rainy season as the company focusses on recommencing production at Molulu and resuming sales of stockpiled copper ore.

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One Health Group PLC - Sheffield-based medical services provider - Issues trading update to March 31. Says financial results for the year are expected to be in line with expectations. Expects revenue in excess of GBP23.0 million, up from GBP20.5 million a year prior, ahead of market forecasts. Says net year-end cash was GBP4.7 million, up from GBP3.3 million. Explains the cash generation provides substantial resources for continued investment in growth and underpins the progressive dividend policy.

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Beacon Energy PLC - oil and gas company - Says that the drilling rig for the SCHB2 sidetrack has been released by the previous operator and will shortly commence mobilisation to the Erfelden site. Expects sidetrack operations to start on or around May 8. Notes the sidetrack operation itself is expected to take around 14 days. Once the rig has been demobilised from the Erfelden site, production is expected to re-commence during the last week of May.

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Libertine Holdings PLC - Sheffield, England-based technology platform solutions provider - Decides to conduct strategic review to assess options to maximise value for shareholders, employees, and other stakeholders. Says all options are under consideration, including raising additional equity and a formal sale process. Libertine says it has cash resources through to July and is reviewing options to extend its funding position. Aside from raising extra finance, Libertine looks at sale of the company or sale of Hexagen technology platform and intellectual property. States no talks currently ongoing. Adds commercial interest in the company's technology platforms remains good and the addressable market potential for Libertine's technology continues to expand.

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European Green Transition PLC - London-based company focused on developing a portfolio of green assets across Europe - Enters an exclusive option agreement to commence due diligence on and potentially acquire a copper tailings recycling project in Cyprus. The option offers EGT full, exclusive access to conduct additional due diligence on the proposed Copper Tailings Recycling Project over a 12-month period. Notes the option is in line with company strategy to target green economy assets in Europe.

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Tlou Energy Ltd - Botswana and Southern Africa-focused energy company - Says second placement of entitlement offer shortfall shares raises further AUD560,000 or GBP288,000 before costs. Notes total funds raised from the offer, including this placement and the placement announced on March 26, amounts to around AUD7.9 million. Funds will be used to advance the Lesedi power project towards first power generation.

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Aterian PLC - African-focused miner - Announces the sale of its portion of the net smelter return royalty over the HCK Project in the Republic of Rwanda for GBP200,000 to to Elemental Altus Royalties Corp. Chair Charles Bray says the sale "aligns with our overarching strategy of prioritising financial discipline, strengthening the balance sheet and maximising shareholder value." Bray wants this to be the "first of many new asset value realisation efforts across our portfolio." Believes the deal positions "us for continued success in a challenging market environment, enabling us to capitalise on our portfolio assets and deliver sustainable long-term growth."

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Thor Explorations Ltd - West Africa-focused mineral exploration company - Reports revenue in the year ending December of USD141.2 million, down from USD165.2 million a year prior. Pretax profit falls to USD10.9 million from USD38.8 million. Basic earnings per share are USD0.017 compared to USD0.060. During the year, sells 73,356 ounces of gold with an average realised price of USD1,907 per oz. Sees cash operating cost of USD1,006 per oz sold and all-in sustaining cost of USD1,313 per oz sold. Sets production guidance at 95,000 to 100,000 oz for 2024 with an AISC guidance of USD1,100 to US$1,200 per oz.

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Gama Aviation PLC - Farnborough, England-based aviation services company - Sends circular to shareholders ahead of General Meeting on May 15. This outlines resolutions to be discussed including the proposed GBP32.6 million return to shareholders and the cancellation of admission of shares to trading on AIM.

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By Jeremy Cutler, Alliance News reporter

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