The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Horizonte Minerals PLC - Nickel project developer in Brazil - Says Araguaia nickel project line 1 on track for production in the first quarter of 2024 with over 50% of the construction programme completed to date. Says it remains on-budget with 90% of the total capital awarded as at March 31. Says feasibility study for Araguaia line 2 remains on track for publication in the second half of 2023, aiming to double nickel production to 29,000 tonnes per year from 14,500 tonnes.
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accesso Technology Group PLC - Berkshire, England-based provider of software for leisure, entertainment and cultural sectors - Buys Canadian-based provider of cutting-edge software solutions, specifically tailored to the unique needs of ski industry, Paradocs Mountain Software for $10 million. accesso Chief Executive Officer Steve Brown says: ‘accesso is passionate about serving the ski industry, and incorporating Paradocs’ specific expertise and experience into our offering is a powerful step forward in addressing the unique and evolving technology demands of the burgeoning ski market. Adding this contemporary and powerful solution to our offering supports accesso’s long-standing commitment to serving as the industry’s premier ski solutions provider.’
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CleanTech Lithium PLC - Chile-focused sustainable lithium exploration and development company - Provides further comment on Chile’s national lithium strategy, welcoming proposals from the government. Describes the proposals outlined as focused on ‘partnership’ rather than nationalisation. Says its assets will not require majority state participation. On Friday last week, CleanTech said the Chilean government was ‘in line with [CleanTech Lithium]’s own strategy, for the sustainable development of lithium through direct lithium extraction technology, combined with renewable energy, in coordination with the local region and community’. Chile plans to nationalise its lithium industry.
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Card Factory PLC - Wakefield, England-based greeting cards, gifts, wrap and bags retailer - Expects revenue for the year ended January 31 of £463.4 million, up 27% from £364.4 million a year earlier, with pretax profit of £52 million, multiplied from £11.1 million. Says profit would be ahead of expectations. Delays its annual results to May 3 as auditor KPMG needs more time. It had been due to report on Tuesday.
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Insig AI PLC - Expects revenue for year ended March 31 to be at least £2.0 million with £600,000 from AI business. Says this represents sales growth of 6% at legacy Sport In Schools unit and 60% at Insig AI business. Says current year started positively with a new client award. Forecasts Insig AI revenue of no less than £1.4 million in financial 2024 and is ‘optimistic’ of reach operating profitability in financial 2024. Also says Non-Executive Chair Richard Bernstein to become executive chair from June 1. Raises £900,000 from subscription of 5.3 million shares at 17p each. Chair Richard Bernstein subscribes for 874,509 shares at same price. Also receives final £100,000 trance of Bernstein convertible loan facility.
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Caracal Gold PLC - East Africa-focused gold producer - Extends initial mining plan for Kilimapesa Hill deposit by 13 months for delivery of high-grade material to the milling plant. Appoints pivot mining consultants to produce an independent mine design and scheduling for Kilimapesa including the high-grade zone. Notes ongoing 360 average daily throughput of high-grade material with average daily grades from 3.15 grammes per tonne to 4.92 grammes per tonne being processed. Says exploration to define the full potential of the high-grade zone in ongoing.
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Seed Innovations Ltd - AIM-listed investor in the medical cannabis, health, and wellness space - Converts £600,000 loan notes in Jersey-based medical cannabis cultivator Northern Leaf Ltd, following its successful £3 million pre-initial public offering fundraise, with a future IPO currently targeted for this year. Says notes represent 2.2% of enlarged equity of Northern Leaf. Its holding in Northern Leaf now valued at £960,000, an uplift of round 60%, including accrued interest compared to the original investment. Seed Innovations Chief Executive Officer Ed McDermott says: ‘In 2021, we saw the opportunity presented by Northern Leaf, which was the first company to be awarded a UK licence to grow medical cannabis in 22 years, and participated in what was an oversubscribed round. Two years on and with EU-GMP and GACP accreditations expected soon, Northern Leaf is poised to make their first sales of product this year and has shared plans to IPO. This represents an exciting time in the development of this young medicinal cannabis cultivation business, which we were delighted to support in its early stages.’
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