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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Serinus Energy PLC - Jersey-based upstream oil and gas exploration and production company - Completes the rig-up at its drilling operations in the Channel Islands and is preparing to commence operations. Says a successful workover will mean an increase in its gross production of 796 barrels of oil equivalent per day.
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Red Rock Resources PLC - London-based natural resource development company with interests in Africa and Australia - Enters into a funding agreement with US-based institutional investor Diversified Metals Holdings LLC. Says it will initially raise $500,000. Plans to use the funds for ongoing exploration and to meet working capital requirements.
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Grit Real Estate Income Group Ltd - Pan-African property investment and management company - Signs a variation to its agreement with Gateway Africa Real Estate to extend the phase 3 option exercise date to May 15, 2023 from Thursday. The option pertains to Grit’s right to acquire Gateway Partner’s remaining 14% stake in GREA and a 1% interest in APDM.
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Eden Research PLC - Oxfordshire-based sustainable crop protection and animal health firm - Signs an agreement with Corteva France to distribute and sell Eden’s fungicide product, Mevalone, in France on an exclusive basis. Does not disclose the financial terms of the agreement. ‘Expanding our partnership with agriscience powerhouse Corteva reflects the further execution and acceleration of Eden’s commercial strategy. Eden has a strong existing partnership with Corteva with our ongoing collaboration around the development of seed treatments, and this Agreement marks the expansion of our relationship with the focus of this Agreement being to increase Eden’s commercial presence in the all-important French grape and pome fruits markets,’ CEO Sean Smith comments.
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XLMedia PLC - Henley-on-Thames-based digital publisher - Says it is exploring the potential sale of all Personal Finance assets. ‘The process is currently underway, and the business is engaging with a number of potentially interested parties, however, there can be no certainty that any offer will be received, nor as to the terms on which any such offer may be made,’ the company says.
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Firering Strategic Minerals PLC - operator of Atex dual lithium-tantalum project in Ivory Coast - Receives a ‘positive’ final set of assay results from its maiden scout diamond drill programme at its flagship Atex Lithium-Tantalum project in Cote d’Ivoire. Expects the second phase of exploration to start in the first quarter of 2023 with the technical support from Ricca Resources Ltd. Expects the immediate start of a large-scale soil sampling programme in January. ‘Our maiden scout drilling campaign has been successful, confirming the continuity of the visible surface lithium bearing pegmatites below surface, with visible spodumene interceptions confirmed through the laboratory assays in several drill holes across our licence area. There have been several significant intercepts throughout our phase one scout drilling campaign, including one exceptional intercept of 64m Intercept at 1.24% Li2O in hole TVDD0004 announced last month, which ranked among the world’s top five drill hits in October,’ Chief Executive Yuval Cohen says.
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Morses Club PLC - Nottingham, England-based home collected credit provider & online lender - Says its funders have agreed to extend the term-out clause of its facility of £25 million to February. The funders continue to grant a deferral of the testing of two covenants, and accordingly there has been no breach of the covenants to date, it says.
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HydrogenOne Capital Growth PLC - London-based hydrogen investment fund managed by HydrogenOne Capital LLP - Signs definitive agreements for a follow-on investment of €1.3 million in Strohm Holding BV. This concludes a €29 million investment round. ‘We are pleased to continue our support for Strohm, which is leading the way in superior offshore pipeline solutions. If Europe and the world are to reach global net zero targets, we must move forward at pace with decarbonising energy infrastructure. With this investment Strohm can continue to work with its clients and future partners in their paths towards a sustainable future and positively contribute to climate change mitigation through reduction of the carbon emission footprint of pipelines around the world,’ Chair Simon Hogan says.
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Power Metal Resources PLC - London-based exploration company with global operations - Says that its drill programme in the Tati Greenstone Belt near Francistown, Botswana returned multiple near-surface bonanza grade intercepts, including 1 metre of 47.1 grammes per tonnes of gold from 6 metres downhole in drill hole CHRC0003.
‘At the Tati Gold Project we are focused on discovering a large gold deposit. So far, in our view, the evidence gathered is increasingly compelling. We have therefore accelerated next stage Project exploration plans, through which we believe we can move the Project forward quite considerably,’ CEO Paul Johnson says.
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Xtract Resources PLC - Australia, Mozambique and Zambia-focused gold producer, exploration and development company - Concludes a joint venture agreement that provides a 60% stake in the Kakuyu copper project in Zambia. Plans to start small scale mining in the existing historic open pit. ‘This arrangement is consistent with our small mines policy and we will continue to make further acquisitions of a similar nature with the intention of building cash flow over the near-term whilst we advance exploration potential with a focus on brownfield exploration targets that may extend the life of mine,’ Executive Chair Colin Bird says.
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MJ Gleeson PLC - Sheffield, England-based housebuilder and land investor - Notes that its Chief Financial Officer Stefan Allanson has been appointed to the board of Norcros PLC as a non-executive director. The appointment is effective from January 1, 2023.
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