The following is a round-up of updates by London-listed companies, issued on Tuesday and Wednesday and not separately reported by Alliance News:
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NetScientific PLC - London-based life sciences focused investor - In the three months ended June, net loss narrows to $8.3 million, or $0.23 per basic share and diluted share from $11.5 million, or $0.37 a year prior. The decrease is due to lower operating expenses, company says, which fall to $8.7 million from $12.7 million.
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IQ-AI Ltd - London-based medical services company - In the half-year to June 30, says pretax loss narrows to £274,309 from £300,473. Revenue rises to £444,247 from £282,652 as do administrative expenses to £716,921 from £573,777. Believes that the years of ‘sustained development and innovation will, in due course, yield positive results for the company.’
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Riverstone Credit Opportunities Inc PLC - London-based energy infrastructure and energy-transition credit investor - Plans to return around $23.0 million to shareholders by way of a compulsory redemption of around 22.7 million shares. This is part of previously announced managed wind down process. Redemption price is $1.017 per share.
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Bushveld Minerals Ltd - Vanadium producer operating the Vanchem and Vametco processing facilities in South Africa - Says South African Reserve Bank approves the applicable exchange control authorisations relating to OMF Fund III Ltd’s existing security as a result of the revised funding arrangement. This is a condition of the senior loan facility agreement, announced in June. The release of additional working capital from Orion, expected to be received shortly, will provide support to execute the Vametco turnaround strategy, cover transaction costs and reduce the company’s creditor balance, Bushveld explains.
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Vinanz Ltd - British Virgin Islands-domiciled bitcoin mining company - Increases its Bitcoin mining fleet in Nebraska by 50% with the addition of ten Bitmain Antminer S19k Pro 120 Terahash miners. Vinanz now has thirty S19k Pro 120 TH miners. Chair David Lenigas comments: ‘Nebraska is an important and fast-growing cluster for Vinanz’s Bitcoin nexus in North America. With a power price of only 6.5 US cents per [kilo watt], Nebraska is proving to be a real winner for us when it comes to keeping operating costs low. The company is bullish on the future of Bitcoin, so further expansion into the US and Canada is our key corporate objective.’
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Global Petroleum Ltd - Africa and Mediterranean-focused oil and gas company - Agrees to joint venture with Callum Baxter, under which Global acquires a significant interest in a mineral exploration licence located in Western Australia. Baxter was previously Chief Technical Officer of Greatland Gold PLC and was Chair and CEO of Starvest PLC. JV will be funded through a £600,000 placing of shares at 0.065 pence each. Global acquires initial 70% of the licence for £200,000. Global has a 3 month option to buy an extra 10% for £50,000 which would take its stake to 80%. Global will pay up to a 5% royalty on any future production from the licence.
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Capital Ltd - provides mining, drilling, maintenance and geochemical analysis solutions to customers within the minerals industry - Sells entire shareholding in Predictive Discovery Ltd to Perseus Mining Ltd for A$47.3 million cash, around $31.2 million. Says it has been an ‘excellent investment’. Funds will help lower debt.
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ECR Minerals PLC - mining company focused on Australian gold projects - Announces initial gold results from soil sampling at the Lolworth project in Queensland, Australia. Says 41 soil samples returned results equal to, or greater than, 0.05 parts per million gold at the Dagwood prospect including 4 results above 1.00 ppm gold. Fifteen samples returned results greater than 0.05 ppm gold from the Gorge Creek Diggings prospect with a best result including 16.85 ppm gold. Focus now turns to the Eastern part of the tenement area to test for gold, niobium and tantalum mineralisation.
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Bradda Head Lithium Ltd - North American-focused lithium explorer provides drill hole geochemical results for its Basin project in Arizona - Files the complete technical report by ABH on SEDARplus for the updated mineral resource estimate at the company’s Basin project asset in Arizona. The MRE is materially unchanged from that announced on July 1. The total mineral resource comprises 20 million tonnes in the measured category, Bradda says. As per the royalty agreement with the Lithium Royalty Co, the updated MRE triggers the final royalty payment of $3.0 million, which Bradda has since requested and received.
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Silver Bullet Data Services Grp PLC - London-based provider of marketing services that use artificial intelligence - Secures a new contract to integrate its 4D AI technology with one of the world’s largest programmatic self-service advertising buying platforms. No terms disclosed. In addition, launches 4D Mobile, an advanced contextual targeting and insights solution for privacy-first mobile advertising. Further, appoints Zeus Capital Ltd as its joint broker with immediate effect.
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