(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Serica Energy PLC - gas producer in UK North Sea; responsible for 5% of all UK gas production - Begins production at its Columbus field located in the central North Sea. Hydrocarbons from the C1z development well started flowing on Wednesday, Serica says. The comingled Arran and Columbus production streams are now being exported for processing and onward export to the gas and liquid sales points. Serica expects Columbus to be producing at its potential by early December.
Chief Executive Mitch Flegg Serica comments: "I am delighted that first production has been achieved, as planned, during fourth quarter 2021. This marks a significant milestone for Serica as it reaches the successful conclusion of its first development project."
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Premier African Minerals Ltd - southern Africa-focused miner - Drilling at Zulu lithium and tantalum project in Zimbabwe continues to demonstrate "significant mineralised intersections" in extensions. Notes 4,190 meters drilled to date with 24 holes completed. Says samples submitted over known step out zone.
Chief Executive George Roach says: "Whilst we wait for assay results and modelling, it is most encouraging to note the pegmatite intersections encountered in a zone not previously included in any of our exploration target assessments or in the existing resource estimate. Together with preliminary results from exploration activities in the wider exclusive prospecting area, this continues to support my view that Zulu is likely to emerge as one of the more substantial hard rock lithium rich regions in Zimbabwe."
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MySale Group PLC - Australia, New Zealand and south east Asia-focused online retailer - Confirms that it is withdrawing from proposed 2021 listing on Australian Securities Exchange, blaming the "current equity market conditions and the performance of a number of recent IPOs in Australia". Earlier this month MySale originally said it planned to float on the ASX and cancel its listing on AIM in March next year. Company reiterates long-term objective of aligning its listing with its operations in Australia and intends to reassess the timing of an ASX listing at the appropriate time during calendar 2022. Also notes that the business continues to trade well, underpinned by strong growth from its marketplace platform. Gross profit for the first four months of the 2022 financial year is ahead of the prior year by 9%.
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Clipper Logistics PLC - e-fulfilment and returns management services provider - Forms a joint venture company with luxury fashion platform Farfetch. The partnership will see the two work on creating a "global e-commerce fulfilment solution for luxury brands". The joint venture is expected to launch in early 2022 and will offer online fulfilment services in territories in Europe, Asia and North America with plans to further expand in the medium term, Clipper explains.
Clipper Executive Chair Steve Parkin comments: "The luxury goods sector is going through a period of transformation and we're delighted to extend our relationship with Farfetch to meet these new demands with a global e-fulfilment solution. The partnership of our market leading technology and expertise with Farfetch's global brand and operating expertise will create a unique and fully integrated international offering for stock from Farfetch's group of companies including Browns and New Guards Group, as well as stock from other luxury brands."
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By Will Paige; willpaige@alliancenews.com
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Premier African Minerals (PREM)
Serica Energy (SQZ)