9th Mar 2026 16:44
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Ajax Resources PLC - natural resources investment company focused on South America - Acquires Pereira Velho Exploraçao SA, a Brazilian company that owns the Pereira Velho gold project in Alagoas State for up to USD2.1 million from an entity affiliated with Appian Capital Advisory Ltd. The consideration comprises, USD200,000 paid on completion and USD400,000 set off against a subscription by Appian for 5.4 million shares at 5.5 pence each. In addition, USD1.5 million will be paid, through the issue of new shares, on publication of a JORC-compliant resource statement outlining a measured, indicated and inferred mineral resource of not less than 350,000 ounces of gold at a 0.20 grammes per tonne gold cut-off grade. Lastly, Ajax will pay a 1.5% net smelter return royalty, payable after any two consecutive fiscal quarters with an average gold price above USS2,500 per ounce. "We have confidence in the significant prospectivity of Pereira Velho," says Ajax Chief Executive Ippolito Ingo Cattaneo. "Our objective is to delineate up to 1 million ounces of gold based on the scale and nature of the mineralised system identified so far, with potentially only one-fifth of the project area having been explored."
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Genedrive PLC - Manchester, England-based point-of-care pharmacogenetic testing company - Raises GBP910,000 through open offer at 1 pence per share announced in February. Take up was 61% of open offer shares, so all subscriptions by qualifying shareholders will be met in full. Genedrive says it "appreciates this support from the company's existing shareholders." Subsequent to February's announcement, Genedrive says it received additional interest from a number of investors seeking to participate in the fundraising who, for various reasons, were unable to subscribe for the number of shares they wished to acquire. This demand represented GBP350,000 in way of additional subscriptions. Genedrive says it considers that it would be "materially beneficial" to secure the additional funding. As a result, Genedrive raises total GBP5.3 million via placing, open offer and additional subscription. Gino Miele and Russ Shaw, the company's chief executive and chief financial officer each subscribe for 5.0 million open offer shares.
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Hydrogen Capital Growth PLC - investment trust that invests in companies focused on clean hydrogen and energy storage - Completes GBP1.5 million sale of stake in Strohm Holding BV to an existing investor in Strohm. This follows interest from external third parties and other existing investors. Strohm is a Netherlands-based low-carbon offshore pipeline manufacturer and the world's first and leading provider of thermoplastic composite pipe technology. Although the price is a discount to the valuation used for the most recent net asset value, company feels it represents the "best outcome" for shareholders at this time. Following this partial sale the company retains a 9.0% stake in Strohm. Following receipt of the proceeds, the group's cash position is expected to be GBP1.6 million. Sale proceeds will be used to satisfy upcoming payment obligations and to provide ongoing working capital. "The board continues to closely monitor and manage the group's cash position."
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Cobra Resources PLC - South Australian mineral exploration and development company - Reports results from 4 of 18 recently completed reverse circulation drill holes from Blue Rose, a copper-gold-molybdenum prospect within the Manna Hill copper project, in South Australia. Notes extensive, high-grade copper-gold and ancillary molybdenum mineralisation, adding scale to historical intersections. Further, preliminary interpretations infer a width of mineralisation of around 70 metres. Additional diamond drilling is planned to validate true width estimates. Copper and separate outstanding molybdenum intersections are reported, with molybdenum grades are high and "may add considerable upside." "These initial results, and the geological observations from the remaining drillholes, combine to strongly support scale within the Blue Rose skarn and a greater porphyry system," company says. Results from a further 14 completed RC drillholes are expected throughout March.
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Helix Exploration PLC - London-based helium exploration and development company advancing the Rudyard helium project in northern Montana - Announces that it has executed a lease agreement for a high-pressure jumbo tube trailer, which it calls "a key operational milestone." This is the first of several tube trailers Helix expects to lease or acquire over the coming months as it scales transport capacity in line with production ramp-up at Rudyard, it explains. The securing of the transport infrastructure assists the transition from a pure exploration business into the operational phase of the Rudyard helium project, it adds. Points out all three helium production facilities in Qatar, the world's second-largest helium producer, are currently offline following Iran's strike on the Ras Laffan liquified natural gas complex and the continued closure of the Strait of Hormuz.
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Fulcrum Metals PLC - Canada-focused exploration firm - Raises GBP550,000 through a direct subscription with a single investor for 5.0 million shares at 11 pence each. Funds raised strengthen the balance sheet and support ongoing work programmes across Fulcrum's tailings projects and pilot plant strategy including, the firm says. These include: the pilot scoping study, work towards mineral resource estimates and evaluation of potential integrated production scenarios.
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Kropz PLC - Africa-focused phosphate producer and developer - Says the third drawn down of the ZAR250 million, around USD14.4 million, loan facility has been made. This is for ZAR40 million, with ZAR 60 million remaining available to draw down. Loan deal with ARC Fund was announced back in December.
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Reabold Resources PLC - investment firm, which is focused on developing strategic gas projects for European energy security - Notes Friday's announcement made by Beacon Energy PLC regarding the completion of its acquisition of a significant interest in LNEnergy Ltd, which provides Beacon with an indirect interest in the Colle Santo Asset. Reabold, which through its shareholding in Beacon Energy, remains the largest ultimate beneficial owner of the Colle Santo Asset, a material, development-ready onshore gas field in Italy. Reabold also has an entitlement to a significant portion of the project's cash flows.
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By Jeremy Cutler, Alliance News reporter
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Related Shares:
Ajax ResourcesGenedriveHydrogenOneCobra ResourcesHelix ExplorationFulcrum Metals PLCKropz PlcReabold ResourcesBeacon Energy.