The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Power Metal Resources PLC - metals exploration company, focused on North America, Africa and Australia - Notes schedule one announcement made by Golden Metal ahead of its initial public offering which is scheduled for early May. Power Metals holds 83% holding in Golden Metal. Sean Wade, Chief Executive Officer of Power Metal Resources comments: ‘I am very pleased to be able to update shareholders that the Golden Metal IPO is progressing.’ Further information in respect of Power Metal’s interest in Golden Metal on admission to trading on AIM, the total IPO equity placing amount, market capitalisation and other information will be released in due course.
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Valderrama Ltd - newly incorporated private joint venture company which is jointly owned and controlled by SPWOne and Castelnau - Reports bid terms for Dignity PLC have been satisfied and the mandatory offer has become unconditional. Urges all Dignity shareholders to accept the offer. Notes acceptances from shareholders so far representing 64% of Dignity shares as of today. Adds mandatory offer closes on May 3. Dignity PLC is a West Midlands, England-based funeral plan and end of life service provider. Dignity reiterates its backing for the offer.
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Guanajuato Silver Co Ltd - Vancouver, Canada-based silver producer with mineral projects in Mexico - Reports record production during the quarter to March 31 of 938,047 silver-equivalent ounces derived from 458,803 ounces of silver; 4,413 ounces of gold; 906,696 pounds of lead; and 1,153,138 pounds of zinc. Maintains production guidance for 2023, expects silver equivalent production in the range from 4.6 to 4.8 million ounces. Record production of precious metals in the first quarter ‘puts us on the right course for 2023 as we look to continue the ramp-up phase across all of our producing assets,’ says James Anderson, Chair & CEO.
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Deepverge PLC - Dublin-based environmental and life science group - Confirms amounts outstanding to Microsaic Systems PLC total around £1.4 million. Notes a proposed settlement plan has been made to Microsaic, and substantially agreed, including an initial payment. In addition, Microsaic continues to supply Deepverge and all payments in 2023 have been made under standard payment terms. Explains at present the working capital position of DeepVerge is such that the total of trade receivables and cash balances together exceed the total of trade creditors and other payable balances. Adds agreed payment plans, or payment phasings, have been put in place with substantially all creditors. Exploring funding options including trade finance as says a stronger balance sheet would enable the company to accelerate delivery of some existing contracts and increase confidence in seeking new business.
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SulNOx Group PLC - London-based green technology company - Reports unaudited fourth quarter revenue of £82,446, up 80% on the previous quarter’s £45,720. Adds unaudited full year revenue to March 31 was £202,961, around six times last year’s £33,522. Notes the first quarter of the new financial year has also started positively, with confirmed orders from UK distributor ElimiNOX and a strong revenue pipeline as positive evaluation results continue to materialise across shipping, mining and logistics sectors and in new geographies. Says cash balances at the year end were £522,872. In addition, announces European patents for Berol 6446 Heavy Fuel Oils emulsifiers and SulNOxEco Fuel Conditioners have been secured which covers the 38 member states of the European Patent Organisation. Continues to progress encouragingly with a similar US patent application.
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