The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Kropz PLC - South Africa-focused phosphate producer and developer - Make second drawdown on loan, for R 90 million. On March 14, it entered a new bridge loan facilities of R 285 million with major shareholder ARC Fund, in order to meet immediate cash requirements at Kropz Elandsfontein (Pty) Ltd. The company noted that the first draw down on the loan was made on this date, for R 25 million.
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Contango Holdings PLC - natural resource development company with operations in Africa - Says wash plant construction at its Lubu coking coal project in Zimbabwe is now complete ahead of commissioning and the production of coking coal. Refurbishment of the screen, used to sort the coking coal prior to it being fed through the wash plant, is also near completion in Harare and is expected to be delivered to site in early April, with installation immediately thereafter. Power to the wash plant and other processing facilities will be connected at the same time, expected to be mid-April. The company intends to undertake grade control drilling for approximately 8 days in early April to help ensure the subsequent extraction and processing of the coking coal is optimised. ‘We have continued to make excellent progress at site as we prepare for imminent first coking coal production and sales. Next month we intend to activate our wash plant and commence the processing of coal ahead of subsequent sales under our existing offtake agreements,’ Chief Executive Carl Esprey says.
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Galantas Gold Corp - Northern Ireland-focused gold producer - Closes its C$3.0 million non-brokered private placement of 8.2 million shares priced at C$0.36 per unit. Each placement share comes with a warrant to buy another share at C$0.55 over the next five years. Says the offering was oversubscribed. At the start of March, Glantas announced plans of a non-brokered private placement of 5.6 million shares to raise up to C$2.0 million. The company plans to use the proceeds for exploration including follow-up drilling targeting the high-grade dilation zones to depth at the Joshua Vein, the recently identified Kerr Vein target, development at Galantas’ gold project in Northern Ireland as well as exploration at the recently announced gold-rich volcanogenic massive sulphide project in Scotland.
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Physiomics PLC - London-based oncology consultancy, which uses mathematical models to support the development of cancer treatment regimens and personalised medicine solutions - Signs an agreement with Beyond Blood Diagnostics Ltd to analyse data generated during testing of its diagnostic platform using Physiomics’ personalised dosing software. Beyond Blood is a seed-stage spin out from Imperial College London, which is developing a patented flow cytometry device to measure blood cell counts (such as neutrophils) in very small blood volumes, Physiomics says. ‘A diagnostic device that enables the collection of neutrophil counts in a home setting could address the challenge faced by patients that may be reluctant to travel into hospital for additional blood tests currently required by Physiomics’ software in some care settings,’ it explains.
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Union Jack Oil PLC - oil and gas company with a focus on onshore production, development, exploration and investment opportunities within the UK hydrocarbon sector - Declares an interim dividend of 0.3p per share. Says the financial position of Union Jack during 2022 and the first quarter of 2023 has been ‘transformational’ and therefore it decided to make a further distribution to shareholders. Also implements a share buyback programme, funded by the company’s existing cash. As of , the company has purchased 2.8 million shares in open market transactions it says. The company has placed the ordinary shares purchased into treasury. Executive Chair David Bramhill comments: ‘Union Jack’s financial position has been transformational and the company has a robust balance sheet, a fully funded and active work programme for its principal projects and has no borrowings.’
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