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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Anglo Asian Mining PLC - Gold, copper and silver producer focused on Azerbaijan - Confirms over 60 metres of thick and continuous gold and copper mineralisation at its Gilar deposit in the Gedabek contract area. Drilling has demarcated six zones of mineralisation, with key results including 51.0 metres at 2.54 grams a tonne of gold, 2.0% copper, and 2.1% zinc at 1.0 grams gold cut-off from 335 metres. The company is now planning a project for underground access, with a tunnel suitable for production.
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Galileo Resources PLC - Mining company focused on US and Africa - Says detailed reconnaissance mapping and sampling over its Kamativi lithium project in Zimbabwe has identified four target zones with potential for pegmatite-hosted lithium, tin and tantalum. Meanwhile, possible visual identification of spodumene and petalite mineralisation in rock chip samples from one site will require laboratory confirmation. The company has a current interest of 29% in the project, held through its interest in BC Ventures, along with an option to earn an additional 51% interest.
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Mast Energy Developments PLC - London-based developer of reserve power generations plants - Says it is now fully optimised and has been granted a gas connection route on its Bordesley peaking power project in Birmingham. The company has also received approval from network supplier, Cadent Gas, for the required pressure and volumes of gas to fuel the project. It has also concluded an EPC contract optimisation with Clarke Energy, which is expected to improve the overall financial feasibility of the project. The project’s debt funders, Close Brothers, will now resume their due diligence with an anticipated financial close targeted during the first quarter of 2023.
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Tern PLC - Investor focused on the internet of things - Says that Wyld Networks AB, of which it holds 47% equity, has launched its satellite IoT network service providing 100% global connectivity for the IoT. Wyld has established agreements with over 40 launch partners, along with a SEK34 million backlog of purchase orders for its Wyld Connect IoT module and data service.
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CT Automotive Group PLC - Designer, developer and supplier of interior components to the automotive industry - Says it experienced a return of supply chain disruptions towards the end of the financial year, with delays in the start of production on new orders incurring costs in connection with Tooling. Associated revenue will now be delayed to the 2023 financial year. Further, revenue for the 2022 financial year is expected to be lower at $120 million. Higher costs will lead to an expected pretax loss of around $11.0 million.
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Aferian PLC - B2B video streaming solutions company - Says trading for the year ended November 30 has finished in line with expectations. The board anticipates announcing its full-year results consistent with previous guidance ranges. Adjusted operating profit is expected in the range of $7.8 million to $8.8 million. Total revenue is expected to be around $91 million, representing a 2% decrease on the prior year, while net cash should be slightly higher than guidance at $4 million. This follows ‘better than expected’ cash collection from customers.
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Netcall PLC - Bedford-based customer engagement software provider - Reports ‘solid trading momentum’ in the first half of the financial year, in line with management expectations. Demand for its cloud solutions continues to increase, leading to strong revenue growth, with a substantial increase in new customer wins during the trading period. Looking ahead, the group said that it is confident of ‘sustained success’ on the basis of its growing pipeline of opportunities.
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