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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Kefi Gold & Copper PLC - Ethiopia-focused gold and copper company - Says going through finance closing and launch procedures at Tulu Kapi gold project in Ethiopia. Next steps would include final preparations and signing of definitive documentation between the respective syndicate counterparties. Kefi Executive Chair Harry Anagnostaras-Adams says: ‘We have conditionally assembled 95% of the project funding requirement of $390 million, with the remainder also allocated with a specific set of parties and expected to simultaneously close their binding commitments alongside the others, for construction start in the fourth quarter of 2023.’ Adds: ‘We can now say that we successfully protected the project during the recent years of turmoil. Our actions on the ground, in the boardrooms and with the government preserved and strengthened the project finance syndicate and allowed us to move forward now with confidence.’ Says projects in Saudi Arabia, meanwhile, ‘are enjoying very positive regulatory support’. Anagnostaras-Adams adds: After many years of frustration, we believe we are now well-placed to charge ahead. I am pleased to report that your company has not only maintained its excellent record of safety and of tenure protection, but we have also drawn together first-tier partnerships, banking relationships and contractors into project-finance alliances in each of Ethiopia and Saudi Arabia.
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Aseana Properties Ltd - property developer in Malaysia and Vietnam - Enters binding conditional agreement to sell Sandakan hotel asset and the Harbour Mall Sandakan for MYR165 million, around $35 million. Deal to be paid in two tranches of MYR82.5 million each.
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Narf Industries PLC - cybersecurity services provider - In the process of finalising the audit with auditors PKF Littlejohn LLP. Expects results and restoration to share trading now later than July 14.
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VVV Resources Ltd - investor focused on identifying opportunities in the precious metals and base metals sector - Says auditors need additional time for 2022 audit. VVV says: ‘While the audit process has yet to be concluded, the directors have been advised by their auditors that the audit is substantially complete and there is one outstanding query that has to be addressed.’ Says trading of shares to be suspended as will not file by Friday’s deadline.
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