8th Apr 2025 16:45
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
----------
Citius Resources PLC, to be renamed Harena Resources PLC - rare earths exploration and development company focused on the Ampasindava ionic clay rare earth project in Madagascar - Says China's rare earth export controls highlight the strategic importance of Harena's Ampasindava project. Citius says it remains focused on advancing the project through the feasibility study and environmental and social impact assessment, while actively pursuing offtake and strategic partnerships to support future production. Managing Director Joe Belladonna says China's move makes the need for "diversified, geopolitically neutral supply chains even more pressing". Adds: "Ampasindava is well positioned to be part of the solution, offering a large-scale ionic clay rare earth resource of magnet metals essential for global defence, energy, and technology markets. We are focused on progressing development and building meaningful commercial partnerships."
----------
Kefi Gold and Copper PLC - mining company focused on the Arabian-Nubian shield - Says preparations for full launch of the Tulu Kapi gold project are advancing across all fronts for signing this quarter of the assembled detailed definitive documentation. Updated tender prices for mining services are being evaluated and the focus now is on completing government approvals and independent certifications. All contractors have been asked to prepare to proceed from the end of this quarter.
----------
Cora Gold Ltd - West Africa-focused gold developer - appoints New SENET (Pty) Ltd to oversee an updated definitive feasibility study at the Sanankoro gold project in south Mali. The updated DFS, as well as updated ore reserves, will reflect the successful delineation of an enhanced 1 million plus ounce mineral resource estimate and processing optimisation studies currently being completed. Given the recent record high gold prices, the updated DFS is expected to significantly enhance Sanankoro's already strong cash flow projections reported in the November 2022 DFS, which was based on a gold price of USD1,750 per ounce.
----------
Foxtons Group PLC - London-based estate agent - Starts up to GBP3 million share buyback after considering the company's prevailing share price, balance sheet position, forecast liquidity and timing of further lettings portfolio acquisitions. Will be funded using existing cash balances and the revolving credit facility. In addition, will continue to pursue lettings portfolio acquisition opportunities within its capital allocation framework. Singer Capital Markets will manage the share buyback programme.
----------
Beeks Financial Cloud Group PLC - Glasgow-based cloud computing and connectivity provider for financial markets - Signs multi-year proximity cloud contract with a leading global foreign exchange and multi-asset brokerage firm. The deal, worth USD2 million over four years, is for the deployment of the Beeks client-owned trading environment across the client's core FX platform, with revenue recognition set to commence in the second half of financial 2025. "This win reflects the growing demand for our solutions as financial services organisations accelerate their cloud strategies," company says.
----------
Bradda Head Lithium Ltd - North American-focused lithium explorer provides drill hole geochemical results for its Basin project in Arizona - announces approval of bonding on notice of intent drilling permits at San Domingo as well as the acceptance of the amended Exploration Plan of Operation at Basin West, both in Arizona. "Bradda Head is now in a position to move quickly as our permits at San Domingo have been fully approved for drilling, with a cost-effective strategy to progress the shallow, undrilled targets that could lead us to resource development," company says. "This is a fantastic development that edges us towards our objective of a potential production decision," Bradda adds.
----------
Distribution Finance Capital Holdings PLC - Manchester, England-based provider of financing solutions for dealers and manufacturers in the UK - issues first quarter trading update to March 31. Says strong momentum continues with record quarterly new loan origination of GBP382 million compared with GBP330 million a year prior. This is driven in part by robust demand across the motorhome and caravan sector. The overall loan book increases 17% to GBP713 million from GBP610 million a year ago. Notes "extraordinarily low arrears", remains "committed" to its buyback programme and "continues to believe that the current share price materially undervalues the group's future prospects and its intrinsic earnings potential."
----------
Prospex Energy PLC - Europe-focused gas and power project investor - Reports a reduction of the flow rates achieved from the Viura production facility since the initial high rates seen in January. Despite this reduction, Prospex's net production rates increase by 187% since January 2024. Net revenue also rises year-on-year assisted by the rise in energy prices. Further, appoints Hannam & Partners as joint Corporate Broker. They will act alongside VSA Capital Ltd. Chief Executive Mark Routh comments: "Operations continue to make solid progress across our portfolio of assets."
----------
By Jeremy Cutler, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Harena ResourcesKefi Gold & CopperCora GoldFoxtonsBeeks Financial CloudBradda Head LithiumDistrib. Fin.Prospex Eng