9th Jul 2026 18:40
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and Wednesday and not separately reported by Alliance News:
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Hamak Strategy Ltd - Africa-focused gold exploration firm and digital asset treasury manager - Announces on Thursday that it has entered a subscription agreement with Verdant IMAP's Verdant International Ltd. Verdant is "an international corporate finance adviser, combining deep capital markets and financing expertise with global M&A capabilities." It has agreed to subscribe for 25.0 million new Hamak shares at 0.8 pence each, a 23% premium to the stock's closing price on Wednesday. Hamak says this represents a significant strategic investment and establishes a new multi-faceted relationship with a major international mining investor group. It has also engaged Verdant Capital Ltd as its exclusive adviser and arranger for the Akoko Gold project's financing and strategic development. "This appointment represents a significant step in Hamka's plan to advance Akoko beyond the resource declaration stage and into a structured project finance project," Hamak says. Notes that recent drilling results at the project in southwest Ghana continue to demonstrate near-surface oxide gold mineralisation.
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EnSilica PLC - Oxford, England-based computer microchip maker for space and communications, industrial, and automotive markets - Reports on Thursday that it has conditionally raised gross proceeds of approximately GBP14 million at 91p each through a placing of 15.4 million shares, and a subscription for 3,300 shares. Also raises approximately GBP900,000 through a retail offer, issuing 973,569 shares at the same price.
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Cornish Metals PLC - developing South Crofty tin mine in Cornwall, England - Announces on Thursday positive assay results from the first hole of its ongoing surface drilling programme in the Roskear area of the South Crofty project. Says drillhole SDD26_001A is the first of two planned holes, and has been completed to a final depth of 1,199.1 metres. Assay returns tin mineralisation across multiple intercepts, which Cornish says is consistent with its geological interpretation, and includes mineralised structures that lie outside the current mineral resource estimate. This shows "potential for mineral resource growth to the west subject to further drilling," the firm says. High-grade intercepts include 0.79 metres at 4.18% tin at Roskear 1 South, and 0.30 metres at 2.20% at Roskear 3 North. Adds that a broad 12.41 metre zone grading 0.43% tin was intersected in the Roskear Numbered Zone, including 1.90 metres at 1.32%. "These are very encouraging results...Drilling of the second hole is already well advanced, and we look forward to reporting those results in due course," Chief Geologist Lauren Beveridge says. SDD26_002 is approximately halfway to its planned final depth, Cornish notes.
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Quantum Blockchain Technologies PLC - London-based blockchain research and development - Announces on Thursday that one of its research & development teams has developed a 'mathematical only' variant of its Method B bitcoin mining tool, which Quantum says improves the performance of the winning hash generation without requiring the learning phase which normally guides the mining strategy of the ASIC. Says the approach uses 'chaos mathematics', which it has managed to adapt for analysis of the hashes generated by the SHA-256 algorithm. Says extensive in-depth modelling over the last six months has led to the identification of winning hashes through stable regularities in the SHA-256 hashes' outputs, despite their uniform distribution. This in turn "has led to the identification of hidden 'structures' within the SHA-256 computation process, which has resulted in the ability to identify blocks of inputs to SHA-256 that lead to a higher density of winning hashes." Following offline tests which "have shown a stable and durable lift" in the algorithm's performance, the company believes the new approach "could become a viable bitcoin mining tool". It has commenced live testing using a Bitaxe Gamma miner.
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Avacta Group PLC - London-based clinical-stage biopharmaceutical company - Announces on Wednesday the appointment of "seasoned healthcare executive" Patrick Vink as non-executive deputy chair & senior independent director. Notes that Vink is chair of Arch Biopartners Inc, Micreos Group, Secura Bio Inc and F2G Ltd. He was previously chief operating officer at Cubist Pharmaceuticals Inc, prior to its acquisition by Merck & Co. "We are delighted to welcome Patrick to the Board of Directors of Avacta," Chief Executive Officer Christina Coughlin comments. "His appointment adds considerable sector experience in pharma partnering, financing, andoperations, having worked for a number of European and US companies, both private and listed. His extensive experience and expertise in building companies comes at a key time for Avacta as we advance our pipeline, based on our proprietary pre|CISION platform which brings unique potential advantages to cancer patients, and continue constructive partnership discussions across our asset portfolio."
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Brown Advisory US Smaller Cos PLC - London-based investment trust backing small-cap companies in the US - Announces on Wednesday that it is conducting a strategic review. Says it retains confidence in the portfolio manager's philosophy, process, and ability to deliver long-term positive results, and "remains very positive on the prospects for US smaller companies...where valuations are particularly attractive." Acknowledges, however, that its more recent performance "has lagged the company's benchmark by a significant margin." Says some shareholders have indicated a preference for a liquidity opportunity in the shorter term, in comparison with its current discount control mechanisms which include a five-year performance-related tender offer scheduled for 2028. Brown is considering various options, "including the provision of a significant cash exit opportunity for shareholders." Notes that the review remains ongoing with no certainty as to its outcome. However, it "will not actively consider the option of a transaction that would be subject to the Takeover Code, and [does] not believe such a transaction is a possible outcome of that review."
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By Emma Curzon, Alliance News reporter
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Hamak StrategyEnsilicaCornish MetalsQuantum BlockAvacta GroupBrown Advisory