TRADING UPDATES: Somero ups guidance; Dev Clever wins China contract

(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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Argo Blockchain PLC - London-based cryptocurrency miner - During November, mines 185 Bitcoin or Bitcoin Equivalent compared to 167 BTC in October. Brings the total amount of BTC mined year-to-date to 1,831 BTC. Based on daily foreign exchange rates and cryptocurrency prices during the month, mining revenue in November was GBP8.3 million, up from GBP7.2 million in October.

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Life Science REIT PLC - life science property investor - Completes acquisition of three buildings at the Cambourne Business Park near Cambridge, UK through the purchase of Scholar Property Investments Ltd, the sole assets of which are the freehold interests in the three buildings. The purchase price of GBP38.7 million, excluding acquisition costs, was satisfied entirely in cash and reflects a net initial yield of 5.6%.

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Anexo Group PLC - Liverpool-based credit hire and legal services provider - Creates new team within its legal services unit, Bond Turner, to deal with claims arising from housing disrepair. Says new team currently engaged in almost 1,600 cases and this figure is expected to rise substantially during 2022. Executive Chair Alan Sellers says: "It has been apparent for some time that large numbers of tenants, including many of our customers, are suffering from poor quality housing. The new HDR team will be able to help claimants by ensuring that their landlords, whether they be local authorities, housing associations or private landlords, are obliged to maintain their homes to a decent standard. This includes a reasonable state of repair, the provision of reasonably modern facilities, and reasonable thermal comfort, including the absence of damp and mould."

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Dev Clever Holdings PLC - software developer for immersive learning and career guidance - Wins contract with the Chinese Academy of Sciences for the deployment of virtual reality devices with its software for learning purposes. Dev Clever will initially deploy 20,000 devices for USD150 each on an annual recurring subscription basis, with initial devices to be distributed shortly after the Chinese New Year in February 2022.

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1Spatial PLC - Cambridge, England-based IT service management company - Wins GBP600,000 multi-year contract with the Rural Payments Agency, an executive agency of the Department for Environment, Food & Rural Affairs. The contract, includes GBP400,000 in software licenses over two years, adding to company's growing levels of recurring, high margin software revenue, with the balance consisting of services revenue.

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Journeo PLC - Ashby-de-la-Zouch, England-based information systems and transport technical services firm - Signs 1-year extension to a framework agreement with Arriva UK Bus which is expected to generate GBP1.6 million in revenue. "The extension, which will continue to April 2023, includes the provision of high-definition CCTV systems and nationwide engineering support, along with technical design, new technology evaluation and project management services," company says.

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Dillistone Group PLC - Basingstoke, England-based software and services for recruiters under Ikiru People brand - Signs new client contract award. "The award represents the group's largest new contract win since the restructuring of the business in January 2020 and supports management's belief that the business will continue to see improved performance in 2022," company says.

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Clipper Logistics PLC - e-fulfilment and returns management services provider - Completes acquisition of Dutch specialist consumer electronics repair services, CE Repair Services Group BV.

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Kanabo Group PLC - medical cannabis research and development - Applies to bioavailability and efficacy trial of its proprietary cannabis inhalation formulas used in conjunction with its VapePod delivery device. "Once successfully completed, the trial will help Kanabo target the rapidly growing segments of the medicinal cannabis market for patients who wish to manage their pain using a clean and measurable method of treatment," company says.

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Somero Enterprises Inc - Fort Myers, Florida-based concrete levelling equipment company - Sees strong trading momentum continue through second half of 2021. As a result, expects to outperform previous annual guidance. Now expects 2021 revenue about USD130.0 million, with adjusted Ebitda about USD45.0 million, which is ahead of previous forecasts of USD120.0 million and USD42.0 million. "This strong trading momentum in H2 2021 has been led by strong trading in North America, healthy contributions to growth from Europe and Australia, with the remaining international markets performing as expected. In North America, market conditions remain healthy and positive, driven in part by demand for new warehousing, with customer workloads at high levels and reported project backlogs extending well into 2022," company says.

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Cornish Metals Inc - United Downs copper-and-tin mine and South Crofty tin mine in Cornwall - Believes latest intersections from drill programme "clearly demonstrates" potential for United Downs to host a copper/tin/silver mineral resource to complement the identified tin mineral resource at South Crofty. Notes drill hole UD21-011A intersected five parallel zones of high-grade copper/tin/silver mineralisation beneath the historic United Mines, which includes 6.91 metres grading 0.80% copper, and 4.04 metres grading 4.44% copper and 2.06% tin.

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Tertiary Minerals PLC - mining projects in Zambia, Europe and the US state of Nevada - Says recently completed surface sampling and mapping programme from Pyramid silver-gold project in Nevada, US continue to return high-grade silver and gold grades. Notes four high-grade samples reporting silver grades of 1,286 grammes per tonne and 889 grammes per tonne, 522 grammes per tonne and 513 grammes per tonne. Managing Director Patrick Cullen says: "These are very encouraging results and include the highest silver grades we have sampled at North Ruth to date. While silver is the primary target, it is also excellent to see the presence of reportable gold grades."

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Atlantic Lithium Ltd - lithium-focused exploration company - Scoping study at Ewoyaa lithium project in Ghana, West Africa retains business case for 2 million tonnes per annum production operation with life of mine revenues exceeding USD3.43 billion. Notes study increases project's LOM operations to over 11 years, producing an average 300,000 tonnes per annum of 6% lithium oxide spodumene concentrate. Chief Executive Vincent Mascolo says: "Today's landmark update regarding the company's exceptional scoping study confirms that the Ewoyaa is an industry-leading asset and transformational for Atlantic Lithium."

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Bluejay Mining PLC - mineral exploration and development in Greenland and Finland - Completes processing bulk sample from Dundas ilmenite project. "The material will undergo further separation facilitated by our distribution partner to be sampled by key-end customers identified by them, with the aim of consolidating and potentially extending the existing distribution agreement to cover the entire expected annual output of Dundas ilmenite concentrate," company says. The pilot plant, which is in the process of being decommissioned, produced material that exceeded expected specifications for commercial production at Dundas.

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By Paul McGowan; paulmcgowan@alliancenews.com

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