The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Hummingbird Resources PLC - gold miner with operations in Mali, Guinea and Liberia - Presents updated reserves and resources estimate as of December 31. Says updated reserves total 3.94 million ounces of gold, with resources amounting to 6.66 Moz. Reserves at Kouroussa increase 1% to 681,000 oz at 3.85 grammes per tonne, total resources marginally decrease to 1.22 Moz at 2.93g/t from 1.23 Moz at 3.06g/t a year prior. Yanfolila’s reserves decrease to 493,000 oz at 2.56g/t, resources fall by 281,000 oz to 1.42 Moz at 2.17g/t. Reserves and resources at Dugbe remained unchanged, with reserves at 2.76 Moz at 1.30g/t and resources at 4.01 Moz at 1.27g/t, respectively.
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hVIVO PLC - London-based contract research organisation, which tests vaccines for infectious and respiratory diseases - Announces that it has been engaged for a Phase 2b field study assessing an influenza candidate. This contract is with a US company and will commence later this year with hVIVO enrolling up to 1,000 volunteers as part of a multicenter study with hVIVO being selected as the sole UK clinical site. Chief Executive Yamin Khan says: ‘This is our largest field study contract to date, further evidencing the recognition we have earned for our highly effective recruitment capabilities and also opens up a new growth opportunity for the group.’ Adds: ‘This is an important facet of our growth strategy that will diversify our revenue base whilst using our existing resources and infrastructure.’
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Creo Medical Group PLC - Chepstow, Wales-based medical device company - Says multi-year agreement with Intuitive Surgical Inc will now expand the number of sites in the UK and Europe undertaking combined lung cancer diagnostic and microwave ablation procedures. The collaboration agreement amendment will support the collection of post-market clinical evidence as part of a controlled market release ahead of the next stage in commercialisation of the MicroBlate Flex device. Over the next 12 months, Creo and Intuitive will roll out a controlled clinical pioneer programme across multiple sites in the UK and Europe. The first cases from these additional sites are expected to begin before the end of the calendar year.
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Devolver Digital Inc - Austin, Texas-based video game publisher - Raises £7.9 million via placing at 33 pence per share. Shares represent around 5.4% of company’s share capital.
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URA Holdings PLC - Africa-focused mineral exploration company - Announces the results of an independent review of the discounted cashflow model for the Gravelotte emerald mine in South Africa. Review shows net present value before tax at 10% discount rate of $22.4 million and an internal rate of return of 76%. Says the project turns profitable from year 2 of operations. Average total operating cost per tonne of $54.70 per tonne. Chief Executive Bernard Olivier says: ‘We are extremely encouraged by the results of the ACA Howe review, which confirms the potential robust economics of the Gravelotte Emerald Mine. The high IRR and positive NPV underscore the significant potential value this project can bring to our shareholders.’
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Scancell Holdings PLC - Oxford, England-based developer of immunotherapies for treatment of cancer and infectious diseases - Enters into a deed of amendment relating to the extension of the redemption dates of the outstanding unsecured convertible loan notes issued in 2020. All outstanding CLNs are held by funds managed by Redmile Group LLC. The original terms of the CLNs were announced in July and October 2020. Under the amendments, the redemption date of the nil rate unsecured convertible loan note is extended to August 2027. The redemption date for the 3% unsecured convertible loan notes is extended to November 2027.
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Marwyn Value Investors Ltd - St Helier, Jersey-headquartered closed-ended investment company - Partner James Corsellis buys 108,500 shares at 92 pence each. Worth total £99,820.
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FireAngel Safety Technology Group - Coventry, England-based manufacturer of smoke detectors, carbon monoxide detectors and other home safety devices - Intelligent Safety Electronics Pte Ltd says it holds just under 99% of FireAngel shares. Remaining shares will be bought by compulsory purchase.
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Trifast PLC - Uckfield, England-based industrial fastenings firm - Says annual results will be delayed. Explains company’s auditors BDO LLP require additional time to complete their audit processes. Thus, expects results for financial ending March, which were set to be released on Thursday, to be published in August. Confirms that results remain in line with the previous guidance provided in January, indicating a revised revenue at around £230 million and adjusted earnings before interest and tax margin percentage of around 5%.
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Belluscura PLC - London-based medical device developer - Raises £1.9 million via placing and subscription at 15 pence per share. ‘The proposed fundraise will provide Belluscura with the funding to capitalise on the strong anticipated demand for X-PLOR and the considerable interest in DISCOV-R,’ company says.
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Mustang Energy PLC - London-based special purpose acquisition company focused on energy storage assets - Changes its name to Cykel AI PLC. Following the name change, the company’s ticker symbol will be changed to ‘CYK’.
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Hellenic Dynamics PLC - Greece-based cultivator and supplier of pharmaceutical standard medical cannabis products - Needs to raise just under £1.3 million to fund improvements to facilities and for working capital. These include works to the post-harvest area which involves the installation of prefabricated internal walls to the nominated existing building on the facility along with the insulation of heating, ventilation and air-conditioning and drying equipment. It is expected that the works should take approximately four months to complete once sufficient funds have been raised. On completion, the company will be in a position to commence commercial cultivation. On funding, company says it is in advanced discussions with a potential institutional investor. In addition, the company is anticipating to be in receipt of the €1 million long term loan announced on April 22 during July.
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ECR Minerals PLC - Australia-focused gold exploration company - Turns to Argonaut PCF Ltd to assist the firm in its aim to realise value from the A$75 million, around £39.5 million, of tax losses through the potential sale of certain of the company’s Victorian assets which carry those losses. ‘Argonaut is an Australian based investment banking and corporate advisory firm focused on the natural resources sector with offices in Perth and Sydney,’ ECR says. ECR notes its tax losses are held within Mercator Gold Australia Pty Ltd and have been incurred since 2006. ‘The market for transferring tax losses is understandably very specialist and relatively small. However, it would be an understatement to say that the potential value of tax losses that we are carrying within MGA could be significant to ECR,’ Chair Nick Tulloch adds.
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SulNOx Group PLC - London-based greentech company - Secures a further significant patent in Indonesia. The latest patent covers a range of formulation versions which includes both the Berol 6446 heavy fuel oils emulsifiers and SulNOxEco fuel conditioners which enhance all diesel, petrol/gasoline and biofuels, very and ultra low sulphur fuel oils and other lighter marine fuels. Company says it is a ‘very exciting development’.
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Touchstone Exploration Inc - Calgary, Alberta based oil and gas exploration and production with onshore properties in Trinidad & Tobago - Announces that Primera Oil and Gas Ltd, its wholly owned Trinidadian subsidiary, enters into exploration and production licences for the Cipero and Charuma blocks effective Monday. The Cipero and Charuma blocks were awarded to POGL pursuant to the Trinidad and Tobago 2022 onshore and nearshore competitive bid round. The licences initially have a six-year term.
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