2nd Feb 2023 22:01
(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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Dillistone Group PLC - Basingstoke, England-based software and services provider that enables recruitment firms to manage their selection process - Records revenue growth and improving performance in its contingency and global executive search markets. Adds that these trends continued through the second half. Expects to report its first full year of revenue growth since 2016. Expects 2022 results to be broadly in line with market expectations before acquisition-related items and other one-off adjustments.
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Petro Matad Ltd - Douglas, Isle of Man-based petroleum exploration company focused on Mongolia - Plans to raise GBP500,000 through a retail offer by way of an accelerated bookbuild process at an issue price of 2.5 pence per retail offer share. Notes that the retail offer is conditional on the capital-raising shares being admitted to trading on AIM.
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Future Metals NL - Perth-based platinum exploration company - Says that drilling confirmed that Panton hosts broad zones of disseminated nickel-copper sulphides outside of the existing high-grade PGE reef system hosting the existing JORC resource. Says that the drilling demonstrated a sulphide association within the high-grade reef mineralisation with potential positive implications for resource growth and metallurgy. "These latest drill results demonstrate that the Panton intrusion hosts multiple styles of mineralisation, including magmatic sulphides which host Ni-Cu-(PGE) sulphide mineralisation. The results are extremely encouraging as they show the potential for a further high-grade discovery to be made, potentially with similar style geology to the nearby Savannah Ni-Cu deposit, which was emplaced later than the Panton intrusion, or a contact-style deposit such as the Flatreef," Managing Director Jardee Kininmonth says.
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Iconic Labs PLC - London-based media and technology business - Says that it is still obligated to make two cash payments of GBP50,000 and one of GBP15,000 under a company voluntary arrangement. Says that creditor claims brought against Iconic were reduced to GBP750,000 from GBP4.2 million to be satisfied through the issue of convertible notes. "Restructuring a company that was in the distressed position that Iconic was in is a lengthy process. We have succeeded in exiting administration and getting the trading suspension lifted, two accomplishments that have rarely, if ever, been done before for a main market LSE company. We continue the process of stabilising the company and discussing potential acquisitions with various entities so that we can generate shareholder value," Chief Executive Brad Taylor states.
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Power Metal Resources PLC - London-based exploration company focusing on global metal discoveries - Acquires uranium properties at Athabasca Basin. Adds that all claims were bought through direct mineral claim staking. "The two new properties now secured are adjacent to and largely surrounded by major uranium companies and they demonstrate significant uranium prospectivity with geology considered by the company to be analogous to major producing mines and other uranium deposits within the Athabasca Basin. Power Metal started the move to build a uranium exploration business in September 2021 and we believe we are now in a particularly strong position. Our intentions do not stop here, with plans to further expand our uranium-focused interests where suitable opportunities are identified," CEO Paul Johnson comments.
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Andrada Mining Ltd - technology metals mining company focused on Namibia - Reports that its drilling programme intersected pegmatite in all holes at the depths and apparent widths at its Uis mine. Reports that the results show further mineralisation potential of the V1/V2 pegmatite ore body.
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Galileo Resources PLC - mining company focused on US and Africa - Records work progress on its Shinganda copper-gold project in Zambia. Adds that target 1 bedrock grab samples returned the highest grade gold assays for the Shinganda project to date. Commissions the reinterpretation of ground magnetic geophysical data to better define possible additional targets.
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Eight Capital Partners PLC - capital market company - Says that Non-Executive Director Luciano Maranzana was appointed as chief executive officer. "Luciano has been with Eight Capital for seven months and has contributed greatly to ECP's operations during this period, helping to implement and conclude a number of successful corporate activities and transactions. In his new role as CEO, his extensive cross-border asset management experience and expertise will further strengthen the wider group," Chair Dominic White says.
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Ingenta PLC - Oxford-based software company - Expects to report 2022 revenue of GBP10.5 million, up from GBP10.2 million for 2021. Anticipates adjusted Ebitda of around GBP2.0 million from GBP1.5 million. Cash balances stood at GBP2.4 million, down from GBP3.0 million at year-end. "This growth was generated primarily from our Commercial product division where we have had strong uptake of our consultancy and managed service offering. On the new business front, we added three customers to our web-based digital content distribution platform and encouragingly, have also simplified the upgrade process for customers looking to migrate to more advanced SaaS-based solutions. Sales pipeline activity is encouraging, and we are actively looking to build on the revenue growth reported in 2022," CEO Scott Winner comments.
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Life Settlement Assets PLC - London-based investment trust focused on the United States - Declares a special dividend of 6.0209 cents per share totalling around USD3.0 million. Explains that it had prioritised the retention of cash over the paying of dividends, to ensure that it had the necessary financial resources to fund the possible acquisition of the portfolio of policies held by the Mutual Benefits Keep Policy Trust. Believes that it is in a position to resume dividend payments, as its cash retention policy has been "successful" with the consideration of USD24 million having now been agreed in principle with MBC.
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By Abby Amoakuh, Alliance News reporter
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