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TRADING UPDATES: Centamin targets reduction in greenhouse gases

30th Mar 2023 19:20

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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The Investment Co PLC - London-based investment company - Enters discussions to appoint Chelverton Asset Management Ltd to act as investment manager to the company, with a new investment strategy of investing primarily in quoted equities of UK small and mid-cap quoted companies to achieve long-term capital growth. Says it will provide an opportunity for shareholders to either retain some or all of their shareholding in the company with the proposed investment manager offering a new investment strategy or, alternatively, to realise their investment in cash.

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Centamin PLC - London-based gold producer with interests in Egypt, Burkina Faso and the Ivory Coast - Targets 30% reduction in Scope 1 and 2 greenhouse gas emissions by 2030. Plans to use more clean or low-carbon power at Sukari mine, plus onsite renewables. Chief Executive Officer Martin Horgan says: "Our vision for a low carbon future is a mining business with sources of onsite and imported renewable energy, reductions in absolute energy consumption through operational efficiencies and creative new technological solutions, staged electrification of our mobile fleet and increased recycling in our supply chains."

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Anglo Asian Mining PLC - Gold, copper and silver producer primarily focused in Azerbaijan - Sets out strategy aiming to more than double production in the next five years, with the company transitioning to a multi-asset, mid-tier copper and gold producer by 2028. Forecasts total production increasing by 30% to 50% to 70,000 to 75,000 gold equivalent ounces for 2024 and 2025. Predicts copper equivalent production increasing to approximately 36,000 plus tonnes per annum from 2028.

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Yamana Gold Inc - Toronto, Canada-based miner - As at December 31, reports 13.8 million ounces of gold mineral reserves and 112 million ounces of silver mineral reserves, "relatively unchanged" from the prior year. Further, reports measured and indicated mineral resources of 17.1 million ounces of gold, 52 million ounces of silver, and 1.4 billion pounds of copper exclusive of mineral reserves, with measured and indicated gold mineral resources up 18% from the prior year. At the Yamana's development projects, mineral reserves of 7.4 million ounces of gold, 57 million ounces of silver, and 6.7 billion pounds of copper represent significant upside potential within the existing portfolio.

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Rambler Metals & Mining PLC - Copper and gold producer, explorer and developer - Says that its wholly-owned subsidiary, Rambler Metals and Mining Canada Ltd, has ceased operations at the Ming Mine, the Nugget Pond Mill and Goodyears Cove. Notes that this was the direct result of a dispute which RMMCL has with Transamine Trading SA regarding the payment of USD880,000 that was due from Transamine on March 24, and an additional payment of USD1.8 million that is due today. Transamine has advised Rambler that it does not intend to make those required payments. RMMCL along with Grant Thornton Ltd will be applying to the court to address this failure to pay, the cessation of operations, and further issues regarding the sales and investment solicitation process.

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Getech Group PLC - Geoenergy company and owner of hydrogen developer, H2 Green - Says that H2 Green's Inverness Green Hydrogen project has been selected for a GBP500,000 UK government grant from its Net Zero Hydrogen Fund - Strand 1 Development Expenditure. The grant will be used by H2 Green for development expenditure support for front-end engineering design and post-FEED studies for the green hydrogen production facilities. H2 Green expects to immediately start on the project and will draw down the grant this year.

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Compagnie de Saint-Gobain SA - Courbevoie, France-based construction material manufacturer - Signs binding agreement for the sale of its glass processing business, Glassolutions, in Switzerland to the privately-owned German group AEQUITA. The business made sales of around EUR25 million in 2022. The transaction is expected to close by the end of May 2023 and is part of Saint-Gobain's continued business profile optimisation strategy. Further financial details weren't provided.

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Regional REIT Ltd - Regional office specialist - Informed that its asset manager, London and Scottish Property Investment Management, is in late-stage discussions to be acquired by a large multi-national asset manager. The board believes that if this transaction completes, there will be no disruption to the services provided to Regional REIT. Furthermore, it believes the transaction will enhance the overall strength and capabilities of the asset manager to the benefit of the company's long-term strategy.

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Cordel Group PLC - Artificial Intelligence platform for transport corridor analytics - Announces proposed placing via accelerated bookbuild, conducted at a price of 6 pence per share, to raise GBP1.7 million. The gross proceeds of the placing will see GBP1.0 million go towards additional sales and technical staff, GBP200,000 towards AI classification as a service project, and GBP500,000 towards working capital and placing expenses.

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By Holly Beveridge, Alliance News reporter

Comments and questions to [email protected]

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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