(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: Read More
(Alliance News) - Ithaca Energy PLC on Tuesday said Eni SpA would take a large stake in the company as part of a "transformational combination" involving the two parties. Read More
(Alliance News) - Mitie Group PLC's third-largest shareholder is planning on selling over a third of its shares in the company, according to an announcement by Peel Hunt Ltd on Tuesday. Read More
Bens Creek Group PLC - owner and operator of metallurgical coal mines across North America - Makes further Chapter 11 filings with US bankruptcy court, adding that US companies have entered into a term sheet for debtor-in-possession financing facility. Says that Avani, its largest shareholder, has filed a DIP term sheet with the Court for up to USD14.5 million. The Avani facility term sheet is now binding on Avani, but is not binding on the Chapter 11 companies until the court binds the Chapter 11 firms. A court hearing to consider the Avani facility is now expected at the end of April. Read More
ECR Minerals PLC - Australia-focused gold exploration company - At its annual general meeting on Tuesday, says team fields are preparing to return to its Lolworth project in Queensland as weather conditions improve. Says that initial tests have revealed "numerous gold-bearing streams as well as indications of rare earths mineralisation". The best indicators appear to be at Oak Creek prospect, it says. Adds that exploration campaign in Blue Mountain is set to begin. Read More
(Alliance News) - Baron Oil PLC on Tuesday said it has appointed Gerry Aherne, bringing with him "a wealth of career experience in insurance and financial markets". Read More
(Alliance News) - European equities ended higher on Tuesday, with the FTSE 100 hitting its best level, before succumbing to some selling pressure in afternoon dealings. Read More
(Alliance News) - Private sector investment in weapons companies counts towards "ethical" environmental, social and governance criteria, UK Prime Minister Rishi Sunak has said. Read More
(Alliance News) - The Bank of England's chief economist has said interest rate cuts are "somewhat closer" than last month. Read More
(Alliance News) - Zambeef Products PLC on Tuesday said it will not meet profit and revenue market expectations for its financial year ending September 30. Read More
Ascent Resources PLC - oil and gas exploration company focused on European onshore projects - Raises around USD1.7 million to help fund investment into a private US holding company, GNG Partners LLC. Notes GNG Partners has been formed to acquire onshore US midstream gas distribution and processing facilities, which use helium purification and liquefaction. Raises GBP555,000 through the issue of 24.1 million shares at 2.3 pence each, with one for three warrants attached exercisable at 140% of the issue price at any time in the next four years. This comprises a GBP390,000 placing and GBP165,000 subscription at the issue price. Further, enters into a new USD2 million senior secured fixed coupon loan facility with institutional investor RiverFort Global Opportunities PCC Ltd. Explains an initial USD1 million loan amount has been issued on a 12-month term. The fundraise and the initial loan will be used to fund the investment into GNG alongside the company's ongoing costs to build out the new strategy. Ascent says it has provided a convertible loan of USD1 million to GNG which has bought the assets of Paradox Resources LLC out of Chapter 11 bankruptcy. Read More
(Alliance News) - Mortgage Advice Bureau Holdings PLC on Tuesday said it has appointed Emilie McCarthy as chief financial officer, with effect from May 22. Read More
Kavango Resources PLC - Botswana and Zimbabwe-focused exploration company - Says drilling at Hillside Prospect 2 finds up to 9.95 gold grammes per tonne. Intends to test the gold-bearing potential of these shears by drilling a fence of holes to test for a bulk-minable gold deposit across the entire zone, it says. The Hillside gold project is in Zimbabwe. On Monday, Kavango reported that it had found up to five potentially mineralised shear zones identified from an induced polarisation survey at Hillside. Chief Executive Officer Ben Turney says: "Results from Prospect 2 at Hillside are even stronger than those we've recently reported at Prospect 4. The 7.2 meters wide zone running at 9.95g/t is significant in itself, but viewed in the context of the other gold intercepts in Hole BRDD001 the open-pit potential is clear." Read More