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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Blencowe Resources PLC - London-based graphite miner operating the Orom-Cross project in northern Uganda - Receives $5 million grant from the US government’s Development Finance Corp for its Orom-Cross graphite project. Company receives $1 million from the grant immediately. Executive Chair Cameron Pearce says: ‘This funding relationship with the DFC is a unique and game-changing event for Blencowe. To the best of our knowledge there has been no other graphite project worldwide that has received a similar type grant to date from the DFC. We appreciate and we value this support and we will do everything we can to build their trust within this relationship, to ensure we deliver a high quality project together.’ Jangada Mines PLC, London-based and Brazil-focused miner prioritising commodities needed in the renewable energy sector, and 10% stakeholder in Blencowe, notes Blencowe’s announcement.
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Haydale Graphene Industries PLC - Carmarthenshire, Wales-based technology solutions company - Raises £60,000 via issuing 12.6 million retail shares at 0.5 pence each. Further, Haydale plans to issue 912.0 million placing shares and 88.0 million subscription shares, to raise a total of £5.1 million, subject to resolutions passing at the company’s general meeting on October 3.
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Kodal Minerals PLC - West Africa-focused mineral explorer and developer - Reports continued progress on project development activities and general progress at its Bougouni lithium project in southern Mali. Announces advancing detailed engineering works for the dense media separation plant, partially via conditional prepayment received from Hainan Mining Co Ltd, of $3.5 million. Noting that the project continues to receive strong support from the Mali government, Chief Executive Bernard Aylward says: ‘Phase 2 will see the construction and commissioning of a down-stream flotation plant which is expected to be supported by utilising phase 1 cash flows in order to exploit the finer-grained spodumene resources at Sogola-Baoule and Boumou, as well as longer term exploration prospects.’
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SulNOx Group PLC - London-based greentech company specialising in liquid hydrocarbon fuel decarbonisation - Outlines strategic change, aiming for faster and sustainable revenue growth. ‘The key elements of the revised strategy include making key industry hires for the board and hiring internal salespeople to source new, financially committed distributors and drive direct sales where applicable. They will be supported by a chief operating officer and new technical hires to assist in the technical sale and analysis, especially in shipping & marine where data sets can be very large,’ SulNOx explains. Further, the company will increase its stock level due to improved sales and pipeline expectations.
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TI Fluid Systems PLC - Oxfordshire-based maker of automotive fluid storage, carrying, delivery, and thermal management systems for light vehicles - Notes that about 38% of shares cast at general meeting vote against approving the waiver of rule 9 of the code granted by panel, with the resolution passing. Under the rule, anyone who buys an interest that brings their own stake in a company to 30% of voting rights, is required to make a takeover offer for the company.
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