The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Cordiant Digital Infrastructure Ltd - investment firm focused on digital infrastructure assets - Completes the acquisition of Polish TV and radio broadcast infrastructure operator Emitel SA, after receiving regulatory approvals.
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Aterian PLC - mining firm - Appoints Graham Duncan as chief financial officer with immediate effect. He is a ‘chartered’ accountant with more than 25 years of capital markets experience.
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Thor Explorations Ltd - Vancouver-based mineral explorer with assets in west Africa - Gets drilling results from the Makosa gold deposit at the Douta gold project in Senegal. Identifies very positive drilling results from the resource. The Makosa gold deposit currently comprises an inferred resource of 730,000 ounces of gold, grading at 1.53 grammes per tonne. Finds gold of 8.96 grams per ton at 7 meters from 67 meters in drillhole DTRC561. ‘We are pleased to announce further, very positive drilling results from the southern parts of the Makosa resource area. In addition to upgrading the resource to a mostly indicated classification, the current drilling program was designed to test interpreted higher-grade parts of the deposits that were thought to be related to cross-structures. Several high-grade intervals with grades of up to 13.8 g/t of gold were encountered during the drilling showing that more higher-grade material has been delineated in line with the program objectives,’ President & CEO Segun Lawson comments.
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ThinkSmart Ltd - Perth, Australia-based digital payments platform - Says 91% of its shareholders voted for the takeover by Tuscan Equity Pty at the general scheme meeting. Says that the takeover is subject to approval of the Federal Court of Australia on November 22. Expects the takeover to be effective on November 23.
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GRIT Investment Trust PLC - invests in small and mid-capitalisation natural resources and mining companies - Converts £63,507 principal of existing convertible loan notes held by Richard Lockwood, a directors of GRIT, into 2.5 million new shares of 2.5p each.
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Beowulf Mining PLC - Natural resource developer and explorer focused on the Nordic region - Says the scoping study for its Kallak iron ore project in Sweden is on schedule to be completed this quarter. It includes the analysis of options and trade-offs for different aspects of the project, for delivering on ’Net Zero’ ambitions and developing a sustainable mine. Engages Vulcan Technologies Pty Ltd to complete a marketing study to consider traditional and non-traditional market opportunities.
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Critical Metals PLC - Africa-focused natural resources investor - Appoints John Greeff as the mine manager for its Molulu copper and cobalt project in Molulu with immediate effect. He has over 30 years of experience in the mining industry and held senior management positions across the world. ‘Alongside John, the rest of the team in Molulu are working to repair and prepare the mines infrastructure already of production in the coming months and take steps to prepare the mine for the seasonal rainfall expected in January. Overall, I am very encouraged with the progress the team are making in Molulu and I look forward to providing shareholders with future positive news from Molulu,’ CEO Russell Fryer comments.
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Marwyn Value Investors Ltd - investment company managed by Marwyn Asset Management Ltd - Receives a value-added tax refund relating to Praesepe finalised at £3.6 million. Says it will be reflected in its estimated net asset value calculations as at November 11. Expects that its remaining claims will be settled ‘in an equivalent manner.’ Says there remains ‘significant uncertainty’ over both the amount that may be repaid by HM Revenue & Customs and the timing of receipt of any cash.
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BWP REIT PLC - London-based company established to acquire Bridgewater Place - Starts trading on International Property Securities Exchange with 35.1 million shares in total. Becomes the third company to be admitted to trading on IPSX. The platform is an FCA Regulated Investment Exchange and the first exchange dedicated to single asset real estate companies.
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ADM Energy PLC - London-based natural resource investor - Says the court adjourns its legal proceedings in respect of its interest in the Barracuda oil field to February 2023. Back in November 2021, KOHN was notified by Noble Hill-Network Ltd of a dispute regarding KONH’s ownership of its 70% stake in NHNL. Subsequently, ADM and KONH instigated proceedings against NHNL at the Federal High Court of Nigeria, Lagos. The court has been asked to determine KONH’s rights to its 70% interest in NHNL. In December, ADM and KOHN were granted an interim injunction against NHNL, preventing the company or any associated person from ‘selling, disposing, divesting or tampering with’ KOHN’s 70% shareholding interest in NHNL to any third-party investors. NHNL challenged the order, but this was rejected by the court, ADM said.
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McBride PLC - Manchester-based manufacturing company - Says just under 50% of its shareholders voted against resolution 13 to authorise directors to allot ordinary shares in the company and to grant rights to subscribe for, or to convert and security into shares. Says voting outcome due to ‘two shareholders, each with a significant holding, voting against this resolution’. McBride adds: ‘The views of all shareholders are important to the board. The board will continue its ongoing dialogue with these shareholders and consult as appropriate to fully understand their concerns in relation to this resolution. However, the board notes that the level of allotment authority continues to be supported by the majority of our shareholders and is in line with the Investment Association’s share capital management guidelines applicable to UK listed companies.’
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