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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Home REIT PLC - London-based real estate company, which invests in social housing across the UK - Issues monthly update for July. Portfolio value at July is £282.1 million, down from £412.9 million at August 31, 2023. Annual contracted operating lease rent is £15.3 million down from £53.9 million.
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Ocado Group PLC - Hatfield, England-based online grocer and technology licensor - Increases bond offer to £700 million from £600 million announced last Tuesday. Plans to announce results of offer on Tuesday.
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Cornish Metals Inc - exploration company which has projects in the UK and North America - Completes the sale of its royalty interests on the Mactung and Cantung tungsten projects located in Northern Canada to Elemental Altus Royalties Corp for $4.5 million cash. The first payment of $3.0 million has been received, with the balance due by August 1.
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Kavango Resources PLC - London-based, Botswana-focused metals exploration company - Announces results from exploration in Zimbabwe. Says six scoping holes were completed to test the gold bearing potential underneath artisanal surface workings totalling 1,364.4 metres, samples have been submitted for assay and results are expected imminently. Chief Executive Ben Turney says: ‘We’ve now identified a number of previously unrecognised structures that have potential to be gold-bearing. With the success we are having at Hillside, using the same exploration methods, we feel confident in what we are seeing here. Our current bottleneck is drilling capacity. The rig we are using at Hillside is booked to run there continuously for the rest of year, so we now making a plan to bring a second rig into the country.’
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Burford Capital Ltd - litigation finance provider with offices in London, New York and elsewhere - Announces that effective January 1, 2025, it will become a US domestic issuer after determining that Burford’s US ownership exceeds 50% of its issued and outstanding ordinary shares as of June 30. As a result, Buford will no longer qualify as a ‘foreign private issuer’, as defined under the US Securities Act. Says this is the culmination of more than five years of planning, which Burford believes maximizes its investability in the US public market.
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Regional REIT Ltd - commercial property investor - Issues summary of activity in the quarter to June 30. Reports strong progress on lettings, exchanging on six notable leases to new tenants totalling 69,067 square feet amounting to £0.7 million per annum of rental income when fully occupied. This is an average rental uplift of 11.0% against December 2023 estimated rental value. Says three disposals were completed in the quarter with sales proceeds of £6.9 million, reflecting a net initial yield of 9.6%.
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Capital Metals PLC - mineral sands exploration company, which is focused on Sri Lankan projects - Provides update on Eastern Minerals Project. Says mining permit approved by Coast Conservation and Coastal Resource Management Department with other government department approvals progressing positively. Drilling is scheduled to commence in or around the week commencing August 12 following the release of the rig from its prior commitments. Initial mine plan preparations are underway to underpin equipment and vendor finance discussions. Adds engagement is recommencing with several potential offtakers to support project funding.
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Frontier IP Group PLC - London-based intellectual property commercialisation company - Says portfolio company GraphEnergyTech raises £1 million through the company’s first external equity funding round. Proceeds will be used to accelerate development and scale up of GraphEnergyTech’s advanced high-conductivity graphene electrodes.
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Gunsynd PLC - London-based investment company - Buys 100% in the Falcon Lake U-Cu-Co project and Bear-Twit VMS project in Canada for £200,000. Issues around 115 million shares at 0.13 pence each to raise £150,000. Balance to be paid in cash. Has a right of first refusal on certain additional uranium licences that are in the process of being secured.
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Windar Photonics PLC - Copenhagen-headquartered technology company, focused on the development of its flagship WindEYE LiDAR wind sensor - Gives update ahead of Monday’s annual general meeting. Says since results in July, the company has received a new order from a Canadian client to test its WindEye product on the Senvion turbine platform, starting in September. While the value of this test order, which includes the use of supporting software, is not in itself material, the board anticipates that if the test is successful, this could lead to potentially significant new orders. Continues to be in discussions with numerous operators in North America regarding orders for multiple turbine platforms and the view of the order outlook in Japan, Australia and China remains optimistic.
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Argo Blockchain PLC - London-based cryptocurrency miner - Mines 48 Bitcoin or Bitcoin equivalents, or 1.5 BTC per day consistent with June 2024, which also averaged 1.5 BTC per day.
Mining revenue in July amounts to $3.0 million consistent, up slightly from $2.9 million in June. Mining margin for July was in the mid 20% range, lower than June.
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