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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Hummingbird Resources PLC - gold miner with operations in Mali, Guinea and Liberia - says performance at its Yanfolila mine in Mali was hurt by short-term mining challenges, resulting from poor availability and utilisation of the mining fleet. This meant that the mining sequencing needed to be adjusted, which increased waste stripping, particularly as mining at the Gonka pit began. As a result, the firm records a loss before interest, tax, depreciation and amortisation of $13.5 million in the second quarter. For financial 2024, now expects 65,000 to 75,000 ounces from Yanfolila, which would be down from 83,965 ounces in financial 2023. Also notes delays in ramping up operations at Kouroussa in Guinea. ‘It’s crucial to understand that these issues are now behind us,’ says CEO Dan Betts.
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FBD Holdings PLC - Dublin-based insurer - In the half-year to June 30, pretax profit falls to €32.3 million from €39.5 million. Gross written premiums climb to €226.1 million from €206.4 million. Combined operating ratio is 87.8% compared with 81.1%. Declares special dividend of 100 euro cents. Says almost two-thirds of the average premium increase of 8.3% relates to customers increasing their level of insurance cover and changing business mix. Retention levels of existing business remain consistently high.
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Getech Group PLC - Leeds, England-based geo-energy and green hydrogen location company - Plans to raise £200,000 by retail offer via the BookBuild platform at 2 pence per share. This is in addition to £1.5 million raised via placing and subscription at the same price.
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Kazera Global PLC - mining-focused investment company - enters into debt facility agreement with its two largest shareholders. Richard Jennings and Tracarta Ltd agree to provide unsecured term loans of £150,000 and £350,000 each. Kazera will use the fund toward the cash part of the consideration for the Tectonic Gold PLC deal announced on Wednesday. The deal will see Kazera acquire 10% of Tectonic Gold PLC’s shareholdings in both Deep Blue Minerals (Pty) Ltd and Whale Head Minerals (Pty) Ltd. Deal also includes Tectonic’s economic interest in loans it has with WHM’s Black Economic Empowerment partners. CEO Dennis Edmonds says the loans are expected to provide ‘sufficient cash cover to take the company into being cash generative’.
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JLEN Environmental Assets Group Ltd - environmental infrastructure fund - Says its net asset at June 30 is 113.1 pence per share, down from 113.6p at March 31. Also announces quarterly dividend of 1.95p for the quarter to June, in line with the dividend target of 7.80p per share for the year to March 31, 2025.
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Raspberry Pi Holdings PLC - Cambridge, England-based maker of low-cost single board computers and compute modules - Announces the release of Raspberry Pi Pico 2, and the RP2350 microcontroller platform. The Raspberry Pi Pico 2, is a single-board computer built on RP2350, its new high-performance, secure microcontroller platform. The Raspberry Pi Pico 2 and RP2350 are an ‘important next step’ in the evolution of Raspberry Pi as a semiconductor vendor, company says. ‘We look forward to other exciting product releases through the second half of 2024 and into 2025.’
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Electric Guitar PLC - digital marketing and advertising company - Agrees a share-for-share acquisition of Mymyne Ltd, a developer of data-related software solutions, and provider of related sales and marketing services. Will pay £154,000 in two tranches to be satisfied in issue of shares. Explains the deal adds software capabilities as well as achieving significant synergies and cost savings.
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Bowleven PLC - Edinburgh-based Africa-focused oil and gas company - Announces the proposed cancellation of the admission of its ordinary shares from trading on AIM, the re-registration of the company as a private limited company and the adoption of new articles of association. In connection with the cancellation, says Crown Ocean Capital will buy shares from shareholders who do not wish to continue to hold shares. Purchase price is 0.225 pence per share.
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Vinanz Ltd - British Virgin Islands-domiciled bitcoin mining company - Mining Store, the company’s Iowa miner host, advises Thursday that 75 miners are now operational in Iowa. Chair David Lenigas says: ‘Iowa, as a Bitcoin cluster, is performing very well for Vinanz. We only launched in Iowa in June, as part of our US expansion plans, and already we have increased our Bitcoin miners there 4-fold in just 2 months. We like Iowa as a place to host our growing Bitcoin miner fleet and we find mining store to be a very supportive and pro-active host for our miners and we plan to continue to grow there over the coming year.’
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