28th Aug 2024 21:58
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and Tuesday not separately reported by Alliance News:
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Henry Boot PLC - Sheffield, England-based property developer - Completes GBP15 million industrial and logistics unit at Airport Business Park Southend, while also being granted planning permission to bring forward a further 75,000 square feet. Chief Executive Officer Tim Roberts says: "HBD's practical completion and further expansion at ABPS is testament to the quality and appeal of the premium, purpose-built sites we design and deliver, which are highly sought after by occupiers. We look forward to maintaining our partnership with Southend-on-Sea City Council as Airport Business Park Southend continues to establish itself as a leading industrial and logistics hub in the region, welcoming businesses of all sizes to expand and innovate. Additionally, achieving further planning permission allows us to continue to meet high occupier demand and ease the critical undersupply of industrial space that exists in the Southend area."
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Eco Atlantic Oil & Gas Ltd - oil and gas exploration company focused on South Africa, Namibia, and Guyana - Completes farm down of just under 14% participating interest in Block 3B/4B, offshore South Africa, after receipt of the requisite regulatory approvals. Eco now holds just under 6.3% interest in asset. The deal formed part of a wider 57% farm down transaction, with joint-venture partners Africa Oil SA Corp and Ricocure Pty Ltd, to a TotalEnergies SE unit and QatarEnergy International E&P LLC. Eco is now due to receive USD8.3million in total as part of the 3B/4B transaction.
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EnQuest PLC - oil and gas company with operations in UK and Malaysia - Greater Kittiwake area joint-venture expands EnQuest's "decommissioning operator role". The JV also includes a Shell PLC unit and Dana Petroleum Ltd. The trio are responsible for the decommissioning of the GKA fields, located east of Aberdeen. "Recognising EnQuest's ability to deliver safe results, market-leading decommissioning performance and cost and schedule efficiencies, the joint venture has appointed EnQuest to continue as GKA operator for the full decommissioning scope with Shell transferring its decommissioning management role to EnQuest," EnQuest adds. "EnQuest is delivering on its strategic objective to be the preferred decommissioning operator in the North Sea."
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Helix Exploration PLC - helium exploration & development company focused on helium deposits in the US state of Montana - Completes drilling at Clink #1 well at Ingomar Dome project. Drilling delivered ahead of time and below budget, Helix adds. "Elevated helium encountered in drilling muds throughout the sedimentary column demonstrates presence of helium within all target horizons," Helix adds. It continues: "Wireline logging and appraisal via extended flow testing will commence shortly to enable the company to assess the helium and hydrogen concentrations."
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Beowulf Mining PLC - Nordic-focused mineral resource developer - Finnish subsidiary reports "excellent progress" in ongoing optimisation work for Graphite Anode Materials Plant. Recent work has been focused on "treatment of process water and the recycling reagents". Beowulf CEO Ed Bowie says: "The results for the recycling of sodium hydroxide, at over 90%, have exceeded expectations and have a very positive impact on the overall Project by reducing both the input reagent costs and the environmental impact."
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Sovereign Metals Ltd - mining exploration and development company with assets in Malawi - Says hydraulic mining trial has now commenced at Kasiya pilot site as part of wider optimisation work. "Hydraulic mining trial is expected to take approximately three months to complete and includes backfilling of main trial pit, deposition and rehabilitation testwork," Sovereign Metals says. Kasiya is a rutile and graphite asset in Malawi.
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Duke Capital Ltd - provider of royalty finance to companies in the UK and Europe - Capital partner Step Investments Ltd seals sale of own subsidiary City Education & Learning Group Ltd. Duke Capital has since 2018 invested GBP11.5 million in Step Investments, an investor with interests in education, cinema advertising, outdoor digital advertising and radio station sectors across the UK and Ireland. Duke Capital adds: "On completion of the sale, Step received initial cash proceeds of EUR5.2 million."
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Cykel AI PLC - London-based company that uses artificial intelligence to help clients streamline workflows, reduce time spent on repetitive tasks, and improve efficiency - Teams with remote talent platform Simera, which is focused on matching professionals in Latin America with North American employers. Cykel says: "This collaboration aims to leverage Cykel AI's cutting-edge technology and expertise to drive efficiencies in Simera's go-to-market strategies, focusing on identifying target companies and market segments to expand reach and accelerate growth."
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Oracle Power PLC - Western Australia and Pakistan-focused energy projects developer - Drilling at Northern Zone gold project in Western Australia grows "target zone". CEO Naheed Memon says: "These latest gold results are very exciting for the project and it is great to be able to back up initial results at Northen Zone, with this latest run of assays so quickly after the recent success of our maiden RC and AC campaigns. The results indicate that we have very significant shallow supergene and oxide gold mineralisation and that targeting this mineralisation has generated positive results that far exceed our expectations."
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Panthera Resources PLC - gold exploration and development company owning multiple assets across West Africa and India - Completes drilling at Kalaka in Mali. Two diamond drill holes for 647 metres were completed. "Field observations indicate that both holes terminated in relatively unmineralized rock and that the sub-vertical mineralised system is approximately 180m wide on this section." it adds. "It is also planned to complete metallurgical testing of the drill core to advance our understanding of recovery properties as follow up to the positive bottle roll tests completed."
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Cambria Africa PLC - holding company for firms operating in Zimbabwe - Believes cancellation of listing is firm's best option. Shares have been suspended for failure to release results for year ended August 2023 and half-year ended February 2024. "As a result the board anticipates issuing a circular and convening a general meeting in the next couple of weeks to seek shareholder approval for the proposed cancellation. The resolution to approve the cancellation requires the approval of 75% of votes cast in person or by proxy at a general meeting," Cambria plans to distribute USD5.4 million to shareholders in two tranches, as it receives expected payments at holding level. "Cambria is carefully considering the most effective and tax-efficient method to return capital to shareholders, whether through distribution or redemption," Cambria adds.
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Libertine Holdings PLC - Sheffield, England-based linear generator technology developer - Says will not be able to meet "liabilities" and files notice to appoint James Clark and Howard Smith, of Interpath Advisory, as joint administrators. It receives offer from Sam Cockerill Ltd, owned by Libertine CEO Sam Cockerill, to buy Libertine FPE Ltd and intelliGEN Inc for GBP110,000 in cash. Both are Libertine Holdings units. There is an "absence" of alternative options so this bid is deemed best option, firm explains. "In light of the offer received, the company has concluded that it will not be able to meet its liabilities as they fall," Libertine adds. Once the sale occurs, it will be a deemed a cash shell, meaning it needs to make a reverse takeover or look to be an investing company within six months. Earlier in August, Libertine confirmed it has not received loan funding from Reliant FZCO in-line with a bridging loan agreement. It had anticipated receiving the first GBP110,000 tranche of the loan amount by last Friday and the second GBP110,000 tranche by September 14
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By Eric Cunha, Alliance News news editor
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