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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Picton Property Income Ltd - London-based commercial property investor - Lets retail unit to unnamed fashion retailer for 10 years. Rent is £500,000 per year and 22% ahead of the March 2021 estimated rental value. Lets industrial unit to unnamed logistics operator, also for ten years. Rent is £700,000 per year and 11% ahead of March 2021 ERV. Company also lets an office floor to an unnamed engineering consultancy for 10 years. Rent is £200,000 per year and 28% of March 2021 ERV.
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Clean Invest Africa PLC - London-based renewable energy investor - Says investee CoalTech has advanced significantly in its project development in India, Columbia and South Africa and has developed prospects in Indonesia, Greece and Australia. These project include a Coal fines pelletizing project, a thermal coal project and an Illmenite project.
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Bluejay Mining PLC - mineral exploration and development company in Greenland and Finland - Announces drilling programme at the Disko-Nuussuaq project in Greenland as part of a joint venture with KoBold Metals. The work programme is expected to commence in early June with mobilisation and build-up of the exploration camp from mid-May. Bluejay will fulfill the role of Field Operations Manager during the 2022 campaign and will collect an expenditure-based fee for this role. The objective is to target massive nickel, copper, cobalt and platinum group metals bearing sulphides.
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HydrogenOne Capital Growth PLC - hydrogen investment fund managed by HydrogenOne Capital LLP - Invests £7 million in aerospace company Cranfield Aerospace Solutions Ltd as part of a £10 million funding round along with Safran Corporate Ventures. With this purchase of a minority equity stake, each company has the right to a board seat at Cranfield.
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Kefi Gold and Copper PLC - gold and copper exploration and development company with projects in Ethiopia and Saudi Arabia - Confirms confirms a 1.3 kilometre mineralised horizon at Al Godeyer in Saudi Arabia following exploration. Company says copper-gold mineralisation is similar to that of the Hawiah volcanic massive sulphide deposit. Rock chips taken during the mapping phase confirm mineralisation with grades of up to 7.2 grams per tonne of gold and 1.8% copper. Commences reverse circulation drilling ahead of schedule due to ‘encouraging’ results.
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Braemar Shipping Services PLC - shipbroker and shipping investment advice company - Says it is ‘delighted’ with its performance in the year ended February 28 and looks to the future with confidence. Company expects underlying operating profit of £9.8 million, slightly above market expectations. Expects to recommend a final dividend of 4 pence, making a total of 6p for the year, up from 5p the previous financial year. Adds that the Russia-Ukraine conflict is not expected to have any effect on future trading.
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Poolbeg Pharma PLC - London-based pharmaceutical company - Signs a deal with CytoReason, a artificial intelligence company developing computational disease models for drug discovery and development, to provide AI analysis of Poolbeg’s influenza disease progression data. The project is due to commence immediately with a full work programme already agreed, and its first results are expected in the first half of 2023.
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Getech Group PLC - London-based net zero technology provider and energy asset developer - Wins new contracts with ‘leading mining companies’ to explore for sedimentary copper, iron oxide-copper-gold deposits, and other minerals which it says are critical to the delivery of the energy transition. The total initial value is £110,000. The contracts include: a sedimentary copper project in Australia and two multi-mineral projects, one in South America and the other in North America.
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Vaalco Energy Inc - Houston, Texas-based hydrocarbon exploration company - Signs contract to with DOF Subsea to perform subsea construction and installation services which will support the subsea reconfiguration associated with the replacement of the existing floating production, storage & offloading unit with a floating storage and offloading vessel at the Etame field, offshore Gabon. Due to commence in July and be completed by September. CEO George Maxwell says: ‘This project will significantly improve our margins, enhance our cash flow generation and sustain our operational excellence and robust financial performance at Etame through 2030.’
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Rambler Metals & Mining PLC - Surrey, England-based copper and gold producer - Says Eason Chen is stepping down as chief financial officer with immediate effect. He will continue to be available to the company through the CFO transition, at least until the end of July.
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Lansdowne Oil & Gas PLC - Dublin-based oil and gas company with projects focused in the north Celtic Sea - Raises £300,000 through a placing of 60 million shares at £0.05 each. The proceeds will be used to meet the company’s expected share of Barryroe costs and to fund the its ongoing working capital requirements for the next 6 months.
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S-Ventures PLC - investment firm focused on health and wellness sectors - Acquires 100% of Market Rocket Ltd, a digital agency. The consideration is £2.3 million. £1.6 million is payable on completion, comprising of £100,000 in cash and 2.1 million shares in S-Ventures issued at a price of 70p per share compared to the closing mid-market price of of 48p on Wednesday. An additional £400,000 is payable as deferred consideration over three years. In addition, the vendors will be issued with up to 357,143 shares conditional on performance targets. The acquisition is expected to complete by April 30.
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Great Western Mining Corp PLC - London-based mineral exploration and development company with operations in the US - Completes geophysical surveys across its portfolio in Nevada, US. At Eastside Mine, induced polarisation identifies two main graben structures associated with surface veining, alteration and copper shows. Corridors of low magnetic response shown to parallel the main vein orientation and extend beyond the known limits of historic mining at Mineral Jackpot.
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