The following is a round-up of updates by London-listed companies, issued on Friday and Thursday and not separately reported by Alliance News:
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Logistics Development Group PLC - London-based investment company - Acquires 12.8 million shares in Alliance Pharma PLC, at average price of £0.46 each, £5.9 million in total. Holds 2.4% stake in Alliance Pharma.
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Palace Capital PLC - London-based property investment company - Completes £7.6 million worth of investment property disposals since end of September, at total of 3% premium to end of March book value. Says gross debt as at Wednesday down 11% since end of September at £79.3 million.
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PipeHawk PLC - Hampshire, England-based provider of technology for highways and for the automotive, rail and aerospace industries - Says order intake for QM Systems in year-to-date at ‘healthy’ £4.3 million. PipeHawk financial year runs to June 30. ‘I am also pleased to report that QM Systems has signed a further contract manufacturing agreement with Fast MDx, a UK-based molecular diagnostics company, to deliver a semi-automated low‑cost, high‑throughput, near-patient molecular diagnostic test system,’ Chair Gordon Watt says,
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Celadon Pharmaceuticals PLC - London-based manufacturer and supplier of cannabinoid-based medicines - Makes necessary submissions to UK Medicines & Healthcare products Regulatory Agency as part of Good Manufacturing Practices registration. ‘Celadon can confirm that no critical issues were raised by the MHRA during the inspection. As part of the audit, the Company also sent samples of its API to an independent third party for analytical testing. The Company is pleased to report that the testing confirmed positive results across all batches, with high-quality, consistent and pharmaceutical-grade API product,’ Celadon adds. Expects to receive GMP mark from MHRA in first quarter of 2023.
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Eqtec PLC - Cork, Ireland-based gasification company focused on turning waste into sustainable energy - Confirms completion of mechanical and electrical completion at its Italia Market Development Centre near Castiglione d’Orcia, Tuscany, Italy. Eqtec adds: ‘All equipment has been delivered on site, installed and individually tested. This is a major milestone where all mechanical and electrical components are in place and installed, with all enhancements to the plant including the additional feed-in system, the dryer and the thermal oxidiser added to improve the resilience of the plant’s business model.’ Eqtec says commercial operations date now expected ‘early in the new year’ amid supply chain delays and the late arrival of critical components. Joint-venture partner MetalNRG PLC notes announcement.
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First Tin PLC - London-based tin development company with projects in Germany and Australia - Posts assay results from first two drillholes of programme at Tellerhauser asset in Germany. ‘The two drillholes were designed to confirm results of previous drilling by Wismut during the 1970s that intersected high grade tin mineralisation at depth along strike from the known resources at the Tellerhauser project, and to increase the indicated resources,’ First Tin adds.
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Beowulf Mining PLC - Natural resource developer and explorer focused on the Nordic region - Hails ‘significant flake graphite mineralisation’ at Raapysjarvi prospect. ‘To have a high-grade intersection with 26% total graphitic carbon is tremendous and overall these are very encouraging assay results,’ Chief Executive Officer Kurt Budge says.
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Clean Power Hydrogen PLC - a Doncaster, England-based green hydrogen technology firm - Signs development agreement with New Zealand-based Fabrum Solutions Ltd. Deal concerns development of Clean Power’s membrane-free electrolyser. ‘Fabrum will further provide technical support to accelerate the final development of the [Clean Power] technology, including subsystem development of the cryogenic gas separation and full system development. This development support will be focused on the safe and efficient operation of the cryogenic gas separation system at a 1 megawatt scale and at the expanded operation level up to a nominal 2MW scale,’ Clean Power says.
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GreenRoc Mining PLC - London-based miner-focused mineral projects in Greenland - Undertakes placing of 400,000 new shares at 4.5 pence each, raising £18,000 in total, as part of broker option. Funds to support Amitsoq graphite project in south Greenland, GreenRoc adds. On Thursday, GreenRoc reported assay results from Amitsoq. Findings confirmed ‘consistent high-grade graphite intersections’. Alba Mineral Resources PLC noted both announcements. It holds a 51% stake in GreenRoc.
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Sound Energy PLC - Morocco-focused upstream gas company - Says Morocco hydrocarbon office approves firm’s application to enter optional first complimentary period under the Grand Tendrara exploration permits. Spans two year to October 1, 2024. ‘Work commitment for the first complimentary period comprises the drilling of one exploration well with a Triassic objective,’ Sound Energy says. Office accepts 12-month extension application at Anoual exploration permits and Sidi Moktar exploration permits. Sound Energy holds 75% of each of Grand Tendrara, Anoual and Sidi Moktar.
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Uru Metals Ltd - Toronto-based investor and mine project developer - Says annual audit still in progress and warns company will not be able to issue results for year ended March 31 by December 31 deadline. Will also not be in position to announce interim results by deadline, which also falls on December 31. Shares to be suspended from trading on AIM with effect January 3. ‘The company expects to announce the FY22 results, publish the FY22 annual report and accounts and announce the Interims no later than 31 January 2023,’ Uru says.
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Gunsynd PLC - London-based investment company focused on the natural resources, life sciences & alcohol sector - Notes investee Pacific Nickel Mines Ltd applies for mining lease for Jejevo nickel project on Isabel Island in the Solomon Islands. ‘Pacific Nickel also stated that it expected to ramp up to full production on the Kolosori Nickel Project during the course of 2023,’ Gunsynd adds.
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Aquila European Renewables PLC - London-based investment fund - Jaen solar asset now operational, with construction completed. Jaen is in southern Spain and forms part of the Greco portfolio, which was acquired for €42.5 million in March. In addition, company says a seven year pay-as-produced power purchase agreement for Guillena solar asset secured. Deal was signed with Statkraft Markets GmbH at ‘attractive price’.
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