The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
----------
Argo Blockchain PLC - London-based cryptocurrency miner - Mines 124 bitcoin or bitcoin equivalent in May, down a quarter from 166 in April. Puts reduction down to bitcoin network pressures, a lower hashrate at Terra Pool, a bitcoin mining pool, and high temperatures in Texas, which has caused increased energy demand and chunkier electricity prices. As a result of the latter, the company says it reduced its own energy usage. It also faced ‘some limited instances of unplanned’ downtime at its Helios asset while bringing a new unit online. Based on daily foreign exchange rates and cryptocurrency prices during the month, May mining revenue fell 44% to £3.1 million from £5.5 million in April.
----------
Filtronic PLC - Leeds-based antenna maker - Awarded follow-on contract for build of over-the-air 5G millimetre wave modules into the test equipment market. The award follows successful pilot-phase. New pact is worth £900,000 and revenue will be recognised in year ended May 2023.
----------
Zenova Group PLC - Essex-based fire safety and thermal insulation products provider - Enters into sub-distribution agreement with the Ethmaar Investment Co. Will distribute thermal insulation and fire protection products in Saudi Arabia. ‘The sub-distribution agreement will provide Saudi customers with direct access to Zenova’s thermal insulation and fire protection products and builds upon Ethmaar’s strong relationships with some of the biggest organisations in Saudi Arabia,’ Zenova explains. As part of deal, Ethmaar can place first order of one batch valued at £116,000 within three months of entering this agreement. Following this, an order worth a minimum of £1.2 million of Zenova products can be made within 12 months of the agreement.
----------
Haydale Graphene Industries PLC - Ammanford, Wales-based graphene technology company - Expects revenue in year to June 30 to beat market expectations. Says sales of boron nitride conductive fluids will be ‘markedly ahead of contractual volumes’. However, sales of silicon carbide to East Asian customers have been hit by Covid-19 lockdowns in China. Haydale says investments in sales, marketing, quality and production resource will offset revenue progress at earnings before interest, tax, depreciation and amortisation level.
----------
Libertine Holdings PLC - Sheffield, England-based technology for power generation from renewable fuels - Awarded grant of £423,260 by UK Department for Business, Energy & Industrial Strategy for first phase of Red Diesel Replacement competition, which aims to develop more environmentally-friendly alternatives to red diesel in construction and mining sectors. ‘Funding will be used to support further development with MAHLE Powertrain on the decarbonisation of heavy-duty vehicle powertrains, and will finance fuel system adaptations to demonstrate hydrogen and compressed natural gas fuel flexibility,’ Libertine says.
----------
Wishbone Gold PLC - precious metals trading and exploration company with assets in Australia - begins maiden drill programme at Wishbone II gold and copper project in the Australian state of Queensland. Wishbone Gold wholly owns the project. The programme will consist of 2,000 metres of reverse circulation drilling, aiming to test the ‘gold and copper surface anomalies at depth and look for continuous underground structures’.
----------
Bradda Head Lithium Ltd - North America-focused lithium development company - Begins second stage of metallurgical testwork at Basin East asset in Arizona. The company is working towards producing battery quality lithium and other ‘associated economic co-products’. Test work services provider Resource Development Inc will carry out the programme. Results are expected in the second half of 2022.
----------
Zephyr Energy PLC - oil & gas exploration and development in US Rocky Mountains - Production from State 16-2LN-CC well to recommence, in connection with a co-located crypto-mine facility being developed. ‘Liquid volumes produced from the well will be trucked and sold to refineries in Utah, and produced gas volumes will be sold to fuel onsite power generators which in turn will provide electricity for the co-located crypto-mining facility,’ Zephyr explains. Zephyr plans to fund initial one megawatt facility, with capital expenditure forecast to be under $2 million. The cash will come from ‘existing cash resources or via third party investment, with facility capital payback expected in under two years at current crypto-currency prices’. Company adds: ‘The board has taken steps to fast-track equipment procurement, and it is expected that the crypto-mine will be operational in as little as eight to 12 weeks. Well work will also be conducted over the same timeframe, at which point production from the State 16-2LN-CC well is expected to recommence.’
----------
Corcel PLC - London-based mining and mineral resource development company - Expands focus of Dempster vanadium project in Canada to include nickel prospects. Company has a 50% stake in the asset. The expanded focus is subject to ‘minority investor approval’. Company says a review confirms ‘potential to pursue nickel targets’. Says broadening of project taken in light of ‘high global nickel prices and issues around security of nickel supply and Russian exports’.
----------
Atlantic Lithium Ltd - developing Ewoyaa lithium mine in Ghana - Reports ‘positive’ metallurgical testwork findings at Ewoyaa. The work is being in support of a pre-feasibility study. ‘Lithium and feldspar concentrate quality test-work conducted to date exceeds off-taker requirements and can be achieved using standard gravity separation techniques,’ Atlantic Lithium says. Results also back a ‘lower capex gravity separation plant’.
----------
Karelian Diamond Resources PLC - Dublin-based diamond explorer - Says geophysical probe of drone-based aeromagnetic data identifies 23 kimberlite targets at a green diamond discovery. These 23 targets are located close to a green diamond find in Finland it reported in January 2017. Karelian adds: ‘The kimberlite targets are reported as ranging from 0.5 hectare to 4.7 hectares in size and ’with a high ratio of highly ranked targets’ based on their magnetic signature.’
----------
Inspiration Healthcare Group PLC - Crawley, England-based medical technology company - Receives £1.3 million order to supply SLE ventilators and Viomedex consumables to Iraq. The products are used for neonatal care. ‘We are delighted to announce this sizeable order which again demonstrates the expansion of our operations across new international markets,’ Chief Executive Officer Neil Campbell comments.
----------
Real Estate Credit Investments Ltd - specialist investor in European real estate credit markets - Reports ‘successful exit’ of investment in housebuilder Elivia Homes. RECI receives £16.4 million in proceeds from the sale, adding 1.0 pence to net asset value per share. Proceeds will be ‘deployed into the company’s growing pipeline of attractive investment opportunities’.
----------
Gfinity PLC - London-based e-sports and gaming - Says finals event of V10 R-League e-sports racing series will take place at Yas Mall, Abu Dhabi. ‘Extensive coverage of every race will be aired on BT Sport’s TV and free digital channels, which is in year two of its commercial deal for exclusive broadcast rights in the UK. It is estimated that BT Sport will broadcast 120 hours of racing of Season 3 on its TV channel. Fans around the world can follow via livestream on YouTube and Facebook and various team and driver Twitch channels,’ Gfinity adds.
----------
STV Group PLC - Glasgow-based television broadcaster - Wins recommission from Channel 4 for a second season of prison drama Screw.
----------
Copyright 2022 Alliance News Limited. All Rights Reserved.
