The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
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Kavango Resources PLC - Southern Africa-focused metals exploration company - Confirms extension of at least 470 metres to the mineralised banded iron formation intercepted at Target i10 with Hole DITDD004 in the Ditau Project, Botswana. It has now completed an initial review of drill core and logs from an exploration hole, drilled in 2021, 470m to the northwest of DITDD004. Says it is increasingly encouraged that Target i10 could represent a large-scale, continuous system that is prospective for lode gold mineralisation.
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ValiRx PLC - Life science company focusing on early-stage cancer therapeutics and women’s health - Its wholly-owned subsidiary, Inaphaea BioLabs Ltd, says that its facility in MediCity in Nottingham has been fitted out to conduct a range of cell-based assays. Begins full pre-clinical development for CLX001 for breast cancer.
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Jarvis Securities PLC - Royal Tunbridge Wells, Kent-based stockbroking and administration services provider - Says that its ’skilled person’ continues to review the systems and controls of the company’s subsidiary, Jarvis Investment Management Ltd, and its associated recommendation work. The skilled person is currently conducting the review and testing, as part of the second stage of its work originally agreed with the Financial Conduct Authority. The board will provide a further update in the next three months.
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FireAngel Safety Technology Group PLC - Developer and supplier of home safety products - Signs three-year contract with British Gas Services Ltd to supply a range of FireAngel branded products through various BGSL supply, service and cover packages, such as British Gas Services and solutions and HomeCare. The contract is valued at £6.0 million over a three-year term, and builds on FireAngel’s existing ten-year relationship with British Gas. Executive Chair John Conoley says: ‘We are delighted to build on our ongoing valuable relationship with British Gas, expanding our portfolio of products through BGSL. This expansion of our existing partnership signifies further progress against our strategy to migrate to higher value activities and commercialise our investment in Connected technology.’
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Cerillion PLC - Billing, charging and customer relationship management software solutions provider - Signs contract worth £10 million with existing telecommunications customer, which operates in Europe, the Middle East, and Africa. Says the deal, which has a ten-year term, will support current consensus market forecasts. The unnamed customer will be upgrading its core BSS platform to Cerillion 23.1 and joining Cerillion’s Evergreen Software Programme, which provides continuous access to Cerillion’s latest product developments.
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Shanta Gold Ltd - East Africa-focused gold producer, developer, and explorer - Announces first gold pour of 35 ounces at Singida Gold Mine in Central Tanzania, on schedule and on budget. Chief Executive Officer Eric Zurrin says: ‘This is a significant milestone and inflection point for Shanta Gold, one that marks our next phase of growth as a 100,000 ounces per year gold producer. With first production at Singida completed, the mine will add 45% to 50% to the group’s annual production profile. We are now positioned to capitalise on our full growth potential, armed with a diversified resource base, a de-risked balance sheet, and financial flexibility.’
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Journeo PLC - Information systems and transport technical services group - Signs £600,00 contract with CrossCountry Rail to upgrade legacy forward facing camera systems and provide three-years’ support and licencing for its advanced Journeo Portal software. Expects to recognise £300,000 revenue from the deal this year, and adds that the contract supports its medium-term growth expectations. The legacy systems were first installed by Journeo in 2012, and under the new contract, 58 Voyager trains and 29 Turbostar trains, each with FFCCTV systems at both ends of the trains, will be upgraded.
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Chill Brands Group PLC - International consumer packaged goods company - Receives an initial purchase order for its disposable nicotine-free vapour products from a new distributor operating in Florida and surrounding states in the US. Says the order represents ‘a significant proportion’ of its existing vapour inventory. Subject to confirmation of final purchase orders, Chill Brands expects to have placed its entire first production run and is working with manufacturing partners to prepare for a reorder.
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On The Beach Group PLC - Manchester, England-based online retailer of beach holidays - Appoints THG PLC’s Jon Wormald as group chief financial officer from June 30. On the same date, current CFO Shaun Morton will replace Simon Cooper as chief executive officer. Chair Richard Pennycook says: ‘The board and I are delighted to welcome Jon as our incoming group CFO. Having worked closely with Jon in a previous role, I know he is a talented individual whose extensive experience in both online and consumer-facing businesses are well suited to the company and we look forward to working with him.’
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Hochschild Mining PLC - London-based precious metals company focusing on the exploration, mining, processing and sale of silver and gold - Confirms that the permitting process for Inmaculada’s Modified Environment Impact Assessment continues. Now expects a decision by the Peruvian government during the second quarter of 2023. Hochschild believes that the outcome of the permitting process will be positive. However, failure to secure approval of the MEIA would result in a suspension of operations at Inmaculada during the second half of 2023 until a new MEIA is approved. The specific date of suspension will depend on a number of operational factors.
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Rotala PLC - Operator of bus routes in the UK for businesses, local authorities and the general public - Buys a freehold depot from WAG Holdings Ltd in Eccles, Greater Manchester for £1.9 million in cash. Originally, the company intended to build a new freehold depot in the Eccles area. However, it has now been able to able to acquire the New Eccles Depot which is directly opposite its current depot in Eccles. The acquisition was entirely funded by its existing revolving commercial facility.
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Caledonia Mining Corp PLC - Zimbabwe-focused gold producer - Extends closing of Zimbabwe placing by up to a week. Expects that the placing will raise excess of $3.0 million due to strong demand.
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Powerhouse Energy Group PLC - Bingley, England-based hydrogen-from-waste-plastic producer - Notes the recently published press statement from National Hydrogen in Australia and confirms that it is in discussion with National Hydrogen regarding projects in West Mundijong, Perth, Australia and Singapore. However, says that no agreements are in place, and there is no certainty that any formal agreements will be entered into at all.
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UK Oil & Gas PLC - London-based oil and gas exploration and production company - Completes construction of Pinarova-1’s drilling pad and access road. Drilling to a total depth of between 500 metres and 550 metres below surface is now expected to begin in the first half of April 2023 following drilling rig mobilisation.
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