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UK TRADING UPDATE SUMMARY: Yamana Completes Agua Rica Project

Fri, 18th Dec 2020 22:17

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:



All Active Asset Capital Ltd - investment firm focused on technology, software and AI space - Enters into an option agreement with AAQUA BV. Under the terms of the option, AAA can subscribe for up to 125,000 new AAQUA shares at EUR1,000 per share, being a total cost of EUR125 million if fully exercised. The option can be exercised in tranches of EUR5 million or more. AAA is paying a EUR1 million fee for the grant of the option to AAQUA.



Yamana Gold Inc - Canadian company that owns and operates gold, silver and copper mines in Canada, Chile, Brazil and Argentina - Completes integration of the Agua Rica project with the Minera Alumbrera plant and infrastructure. Going forward, the integrated project will be known as the Mara project. "The integration creates significant synergies by combining existing substantive infrastructure which was formerly used to process ore from the Alumbrera mine during its mine life, including processing facilities, a fully permitted tailings storage facility, pipeline, logistical installations, ancillary buildings, and other infrastructure, with the future open pit Agua Rica mine," company adds. Yamana, as the sole owner of Agua Rica, and the partners of Alumbrera have created a new joint venture, which Yamana holds a controlling interest of 56%, Glencore International AG holds a 25% interest, and Newmont Corp holds an 19% interest.



Bushveld Minerals Ltd - South Africa-focused vanadium producer and energy storage provider - Receives partial repayment of the USD23 million unsecured convertible loan note held by Duferco Participations Holding SA. Duferco continues to hold a total of USD11.5 million convertible loan notes, which are due for repayment in November 2021.



Urban Exposure PLC - provides finance to property developers - Says 86.7 million shares validly tendered, equal to about 55% of firm's issued share capital.



Salt Lake Potash Ltd - Western Australia focused organic sulphate of potash miner - Chief Financial Officer Shaun Day resigns, and says as firm completes equity raising to enable initial draw down of the company's debt financing, believes it is an appropriate time for the change. Salt Lake issues 125 million fully paid ordinary shares of no par value at AUD0.40, about GBP0.226, per new share to raise AUD50 million before costs. The equity raising enables the first drawdown of USD105 million under the Taurus/CEFC USD138 million syndicated facility agreement in December. The placement is part of a AUD57 million equity financing, including a share purchase plan offered to eligible shareholders capped at AUD5 million at AUD0.40 per new share.



Mereo BioPharma Group PLC - biopharmaceutical company focused on developing and commercialising new therapies for rare disease patients - Signs license and collaboration agreement with Ultragenyx Pharmaceutical Inc for setrusumab, a monoclonal antibody in clinical development for osteogenesis imperfecta. Setrusumab is an investigational anti-sclerostin fully human monoclonal antibody that has shown the ability to improve bone production and density leading to greater bone strength in animal models of OI. Data from a Phase 2b of setrusumab conducted by Mereo demonstrated a dose-dependent increase in bone formation, density, and strength in adults with OI.



Trident Royalties PLC - mining royalty and streaming company - Notes wholly-owned subsidiary TRR Services UK Ltd has entered into a binding, conditional agreement with Bellatrix Ltd, a wholly-owned subsidiary of Orion Resource Partners to acquire a portfolio of three existing royalties over the Pukaqaqa copper project through the acquisition of two of the royalties and the acquisition of Tiomin Peru SAC, a Peruvian company which owns the third. Pukaqaqa is majority-owned and operated by Nexa Resources. The royalties and Tiomin are being acquired for a total consideration of approximately USD3.0 million of new shares in Trident.



Applied Graphene Materials PLC - producer of speciality graphene nanoplatelet dispersions - Notes customer, Halo Autocare Ltd has launches Graphene Alloy Wheel Wax as part of its EZ Car Care range of products. This is the second graphene-enhanced wax polish product launched by Halo Autocare as part of its Graphene Innovation Programme, which uses AGM's Genable graphene dispersion technology. The microcrystalline wax-based polish is the result of the continued partnership and a rigorous testing programme delivered by Halo Autocare.



Goldstone Resources Ltd - AIM-listed resource development company with projects in west Africa - Gets notice of exercise of warrants from Asian Investment Management Services Ltd to subscribe for a total of 30.0 million new shares. The new shares are being issued at an exercise price of 3 pence per share, for a total subscription to the company of GBP900,000 and relate to warrants issued pursuant to the gold loan provided by AIMS, announced in June. The proceeds of the warrant exercise will be used for general working capital purposes.



Jangada Mines PLC - mineral resource miner focused on Brazil - Says 18% investee ValOre Metal Corp gets assay results for eight Trapia 2 core drill holes at ValOre's 100%-owned Pedra Branca platinum group element project in northeastern Brazil. The target ultramafic Trapia 2 intrusion was intercepted in all eight core holes drilled, establishing geological continuity well beyond the currently defined resource area. Near surface mineralization was intersected along strike to the northeast and southwest of this existing resource, and mineralization remains open in all directions. "Today's results, demonstrating near-surface mineralization at Trapia 2, build on the recent drilling success at Trapia 1 and should expand the known resource at Trapia, currently at 219,000 ounces grading 1.10 grammes per tonne 2PGE+Au in 6.2 million tonnes," ValOre's Chair and CEO Jim Paterson says.



Keras Resources PLC - AIM-listed mineral resource company - Says processing plant fabrication completed and shipping is in progress at its Diamond Creek high-grade direct shipping ore, organic phosphate mine in Utah, US. Also raises GBP400,000 through placing of 400.0 million shares at 0.11 pence each. The funds being raised will be used to advance about USD300,000 to Diamond Creek-owner Falcon Isle, and generally to support the its growth strategy in Utah and Togo, and for general working capital purposes.



CEPS PLC - Bath-based investment company focussed on the industrial sector - Says subsidiary Davies Odell Ltd has undertaken a merger with Vale Brothers Ltd. The merger has been achieved by the incorporation of a new company, Vale Brothers Holdings Ltd, which has acquired 100% of the share capital of both Davies Odell and Vale Brothers. "Davies Odell has of late been loss-making and despite much effort and investment has been unable, to date, to move into sustained profitability," CEPS adds. Part of the deal will see CEPS acquire 15% of the share capital of Davies Odell owned by Andrew Gregory for GBP100,000, following which CEPS owns 100% of the share capital of Davies Odell.



Zephyr Energy PLC - UK-based oil and gas company focused on the US upstream oil and gas sector - Plans to spud the State 16-2 well at its Paradox Basin project in Utah, well ahead of its year-end target date for the commencement of drilling. Over the last week, the Cyclone rig mobilised to the well site where it was subsequently assembled and tested. In addition, all ancillary services and service providers are now on site to support drilling operations. The primary objectives of the well are to drill a mildly deviated well to an approximate true vertical depth of 9,815 feet, so that the company can acquire up to 100 feet of continuous core from the Cane Creek reservoir.



By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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