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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Bidstack Group PLC - London-based in-game advertising platform - Appoints Camila Franklin as chief operating officer. She is replacing Lisa Hau who will move on to be the company’s chief strategy officer. Franklin was previously COO at the gaming monetisation platform AdColony Inc.
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Hamak Gold Ltd - British Virgin Islands-based gold exploration firm focused on Liberia - Signs a contract with Cestos Drilling Liberia for an initial drilling programme to identify the depth and width extensions of significant gold mineralization. ‘We will shortly commence a drilling programme to test the width and depth extensions of the significant gold mineralization identified by soil and channel sampling over the Ziatoyah outcrop in our Nimba licence. We are pleased to be working with Cestos who have agreed to accept equity for the majority of their drilling services, showing their confidence in our programme and helping to conserve cash for the company in these challenging equity markets,’ Executive Director Karl Smithson comments.
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Amigo Holdings PLC - Bournemouth, England-based guarantor loan provider - Gets approval from the Financial Conduct Authority to return to lending with immediate effect. Notes that this is under ‘certain agreed conditions.’ Under the terms, it will undertake further customer outcomes testing, led by a third party, during the initial two-month pilot lending phase and a required period for assessment. If the FCA is satisfied with the outcome of this pilot phase, it will still be limited to a maximum of £35 million cumulative net originations until a further minimum £15 million scheme contribution from the proposed capital raise is paid into the scheme fund, it says.
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Arbuthnot Banking Group PLC - London-based bank - Notes its subsidiary, Arbuthnot Latham & Co Ltd, completed the sale of its long leasehold West End office property, 20 King Street, following the satisfaction of conditions.
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Fintel PLC - Huddersfield, England-based technology and support for retail financial services sector - Expands its strategic distribution partnership with Schroders PLC. Says Schroders will join Fintel’s Risk Controlled investment solution. ‘Schroders and Fintel have worked closely together for a number of years and I am delighted that they have chosen to further strengthen this relationship by joining our Risk Controlled range. Fintel exists to help the market operate more effectively and with the continued success of the Managed Distribution and Risk Controlled we continue to deliver the technology and insight-led solutions the industry needs to ensure better consumer outcomes,’ Joint Chief Executive Matt Timmins comments.
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Minoan Group PLC - Surrey-based Greek hotel investor - Appoints Marco Nijhof to its board effective immediately. Says he is a board-level executive within the international luxury hotel and retail hospitality industry. ‘The appointment of Marco today is one of the final keys to reaching the commercialisation stages of the project. His experience in developing, commercialising and operating world-class tourism and other businesses will be crucial in the coming months as we near crystallisation of the project with the attendant increase in shareholder value,’ Chair George Mergos comments.
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Silverwood Brands PLC - London-based investing company targeting food, organic food, wellness, lifestyle and leisure sectors - Raises gross proceeds of £2.0 million through a subscription for new ordinary shares at an issue price of 40 pence per share. Records total income of £831,415 in the year to August 31. Net loss total £299,103.
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Artemis Resources Ltd - Perth-based miner with gold, copper and cobalt projects in Australia - Says the Greater Carlow project is a ‘high-grade gold copper-cobalt project primed for further growth’. Says its resource compares very favourably to other gold mining projects on a grade equivalent basis. ‘What we have now established at the Greater Carlow project is a robust, credible, high-grade multi-metal resource from which our exploration team can now seek to continue to grow via drilling. The next phase at Greater Carlow is to drill and add more high-grade tonnes to the open pit and underground resources, including the high-grade Keel Zone which is not included in this resource statement,’ Executive Director Alastair Clayton comments.
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Cobra Resources PLC - Wudinna gold project in South Australia - Starts reverse circulation drilling at the Clarke prospect of its Wudinna gold project. This drilling will inform an updated gold mineral resource estimate and a maiden rare earth mineral resource estimate, it says.
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Firing Strategic Minerals PLC - operator of Atex dual lithium-tantalum project in Ivory Coast - Drills a total of 19 holes and completes 3,039 meters of drilling. It intersects pegmatite in all 19 drill holes. ‘I am pleased to provide our next update regarding our phase 1 core drilling programme, which has been completed successfully ... Lithium mineralisation was visually observed in eighteen out of the 19 holes, and we are now eagerly awaiting the assay results, the first of which should arrive during the fourth quarter of 2022,’ Chief Executive Yuval Cohen says.
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Faron Pharmaceuticals Ltd - Turku, Finland-based clinical-stage biopharmaceutical company - Proposes a private placement to raise around €8 million through an accelerated book building. Plans to use the net proceeds of the placing would be used for the acceleration of the bexmarilimab clinical development programme and manufacturing. Total cash and cash equivalents held by the company as of June 30 amounted to €9.9 million.
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CleanTech Lithium PLC - Jersey-based lithium exploration and development company focused on Chile - Starts direct lithium extraction process work at its sustainable lithium projects in Chile. ‘We are delighted to move forward our process test-work with SunResin on multiple fronts including trials on brine from the sub-surface aquifers of our Laguna Verde and Francisco Basin projects, ordering of a DLE demo unit which will arrive in Chile this month and receiving a proposal for the DLE unit for a pilot plant that will produce battery grade lithium carbonate and lithium hydroxide for customer testing and verification,’ Chief Executive Aldo Boitano comments.
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