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TRADING UPDATES: Harmony Energy plans raise; Kavango sets drill target

28th Sep 2022 22:10

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

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Harmony Energy Income Trust PLC - London-based investment company focused on energy projects - Proposes capital raising through issue of new C shares, which will be used to fund its pipeline of 2-hour duration battery energy storage systems. Notes it has exclusivity via a right of first refusal over 687.5 megawatts of pipeline of additional 2-hour duration BESS projects which are under the control of Harmony Energy Ltd. Will issue new C shares at 100 pence, with the maximum to be raised at GBP130 million. Also notes it is targeting 8p annual dividend from 2023 onwards.

Chair Norman Crighton adds: "Whilst recognising the current challenging economic and market backdrop, we believe it to be beneficial for the company, with our shareholders' support, to take advantage of its exclusive rights over Harmony Energy's pipeline as envisaged at IPO and continue to build on the positive momentum."

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Angle PLC - Surrey, England-based medical diagnostics company - Notes University of Birmingham study in head and neck squamous cell carcinoma which uses company's Parsortix. The study shows HNSCC sees epithelial-mesenchymal transition status of circulating tumour cells. "EMT is clinically significant due to its role in tumour progression and invasion, the development of metastasis, metabolic reprogramming, immune evasion, and resistance of cancer cells to therapy," it adds. Chief Executive Andrew Newland "pleased" Parsortix system as a tool for HNSCC EMT classification.

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Engage XR Holdings PLC - Waterford City, Ireland-based virtual communications solutions - Notes consumer electronics firm Lenovo launches virtual reality headset, which will see Engage build its own 'Lenovo Metaverse'. "Engage XR will help build and offer a Lenovo presence within the Metaverse using Engage Link. Engage Link is Engage's enterprise-focused metaverse set to launch later this year. Lenovo is one of the five confirmed launch partners for Engage Link," it explains.

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Kavango Resources PLC - London-based mineral explorer focused on Botswana - Finalises drill strategy for four of its prospecting licences in the Kalahari Copper Belt. Finds 13 target areas across licences. Chief Executive Ben Turney says: "Through our flexible proposed drill programme, we have a total of 188 viable drill locations over 13 priority areas, each of which we believe gives us the chance of encountering copper mineralisation. In total, our exploration drilling could total as much as 37,600 metres, which emphasises the scale of Kavango's opportunity. Our ground could host multiple deposits, which is why we have been as thorough as we have in our approach."

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Atlantic Lithium Ltd - lithium asset developer and producer focused in West Africa - Partner at Ewoyaa project in Ghana, Piedmont Lithium, completes pre-feasibility study for the project. Says the study shows 255,000 tonnes per year of 6% lithium spodumene concentrate over 12 and a half year mine life with ore reserves of 18.9 million tonnes at 1.24% lithium oxide.

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By Paul McGowan; [email protected]

Copyright 2022 Alliance News Limited. All Rights Reserved.

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