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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Orcadian Energy PLC - North Sea-focused oil and gas development company - Applies for the 33rd round of licensing conducted by the UK North Sea Transition Authority which closed last week. Says that it made three licence applications, two of them in partnership with other companies and one on its own. Expects that Orcadian will hear as to whether its licence applications have been successful before the end of the third quarter of this year.
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Baron Oil PLC - London-based oil & gas exploration and appraisal company - Also submits an application in the UK offshore licence round. Says that the ERCE competent’s person report will provide it with independent, SPE PRMS compliant standard, resource estimates for the Chuditch-1 discovery and offset prospects and leads. Expects that contingent resources will be assigned to the Chuditch-1 gas discovery, which should have a significantly positive impact on the value of the Chuditch project.
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MobilityOne Ltd - Malaysia-based e-commerce infrastructure payments and platform provider - Notes that all resolutions at the Technology & Telecommunication Acquisition Corp extraordinary general meeting have been approved by shareholders. Says that the passing of resolutions will allow, amongst other matters, for additional time to complete the merger exercise. In October, it was announced that TETE will merge with Malaysian Super Apps Holdings Sdn Bhd.
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Resolute Mining Ltd - Perth-based gold miner in Africa - Lifts the mineral resource estimate for Syama North by 58% to 3 million ounces of gold at a cut-off grade of 1 grams per tonne of gold. Says that the diamond and reverse circulation drilling has continued throughout 2022. Says the mineral resource now totals 34 million tonnes at 2.9 grammes per tonne of gold for 3.18 million ounces. ‘Our end of year Mineral Resource and Ore Reserve estimates will be published in February 2023, incorporating these significant additions to our business. I am extremely proud of the achievements of our exploration team and the ongoing success at Syama. Significant discoveries such as this clearly demonstrate that the Syama Belt is surprisingly under-explored and justifies the need for further systematic exploration work to be undertaken along the >85 km of strike,’ Chief Executive Terry Holohan comments.
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Ethernity Networks Ltd - data processing semiconductor technology supplier - Says its broker option has raised £100,000 through the issue of 1.4 million new ordinary shares at an issue price of 7 pence per share. Says it applied to the London Stock Exchange for the broker option shares to be admitted to trading on AIM.
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Kodal Minerals PLC - mineral exploration and development company focused on lithium and gold assets in West Africa - Agrees with Hainan Mining Ltd on a conditional funding package of $117.8 million that will provide full financing for the development and commencement of production at the Bougouni lithium project in Mali. ‘This is a great outcome for Kodal following a competitive and complex process to ensure we received appropriate recognition for the underlying value of this asset. We are very pleased to welcome the Hainan Group as investors into Kodal and as partners for the development of the Bougouni lithium project. This investment provides us with a great opportunity to fast track to production of spodumene concentrate in a very strong market,’ CEO Bernard Aylward says.
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Kelso Group Holdings PLC - Northamptonshire, England special purpose acquisition company - Confirms that there are no changes to the offer for subscription terms and quantum announced on November 23. The Subscription comprises the issue of 150.0 million new shares, raising £3.0 million at a price of 2.0 pence per subscription share.
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Secure Trust Bank PLC - Solihull, England-based savings accounts and lending services provider - Records a 20% rise in deposits in the fourth quarter of 2022 to £2.5 million from £2.1 million in the same quarter a year before. Core net lending grows 19% to £2.9million from £2.5 million, whereas new business lending falls 5.4% to £444.6 million from £470.2 million. Attributes the fall to a proactive approach to tighten credit criteria, as reflected in the reduction of new business lending by 11%. ‘We delivered a strong performance in 2022 including a significant increase in continuing profit before tax and impairments. We have benefitted from delivering several cost initiatives and the actions taken to simplify the group and saw a material improvement in our cost income ratio,’ Chief Executive David McCreadie comments.
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Botswana Diamonds PLC - Botswana and South Africa-focused diamond explorer - Managing Director James Campbell notes at its annual general meeting that construction at its Marsfontein alluvial project has been completed and that stripping of the overburden overlying the gravels had commenced. Production is imminent. Adds that regulatory approval have been received to increase its stake in the highly prospective Maibwe joint venture in Botswana.
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Amaroq Minerals Ltd - Greenland-focused mine development company - Continues to progress towards the closing of its previously announced joint venture transaction with GCAM LP. Expects this to occur in line with the previously announced timetable. Expects to satisfy the remaining conditions needed to complete the GCAM transaction by the end of the first quarter of 2023.
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