14th Mar 2024 18:26
(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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Horizonte Minerals PLC - nickel company focused on operations in Brazil - Brazilian subsidiary, Araguaia Niquel Metais Ltda, which is developing the company's Araguaia nickel project, has been granted an injunction, giving it a 60-day period in which it must negotiate indebtedness and come up with a restructuring plan approved by its creditors. The company says it will "continue to work closely with its major shareholders and senior lenders on a full funding solution, targeted for the end of Q2 2024 though at this time, there can be no guarantee that a re-financing and re-structuring solution will lead to a positive outcome for existing shareholders, noteholders and creditors of the company." On Wednesday, Endeavour Financial, Horizonte's financial advisor, filed a lawsuit against the mine's developer over USD2 million worth of owed commission payments.
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DCI Advisors Ltd - British Virgin Islands-based investor in the luxury residential resort sector - Enters into an EUR100,000 loan agreement with Lars Bader, a shareholder who holds a 10.3% stake in the company. Says the shareholder previously entered into a EUR350,000 loan agreement with the company in April. When combined, the total shareholder loans received by DCI to date amount to EUR3.2 million.
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Baronsmead Second Venture Trust PLC - London-based investment company focused on UK equities - Says applications have been received for GBP12.3 million under the company's subscription offer announced in November. The offer aims to raise up to GBP30 million in aggregate, with the discretion to utilise overallotment facilities for a further GBP20 million. Baronsmead believes that the initial amount is likely to be subscribed for shortly, and intends to use the over-allotment facility to raise a further GBP10 million.
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Cadence Minerals PLC - sustainable energy minerals explorer - Says Evergreen Lithium Ltd has identified "large lithium targets", based on assays from geochemical soil sampling at the company's flagship Bynoe project in the Australian Northern Territory. Says the new targets are "in the central area of the tenement further demonstrating the potential for additional lithium spodumene mineralisation in the Bynoe pegmatite field". The assay results were from 1,214 samples received by Evergreen, and a further 900 samples are to be received shortly. Cadence holds an 8.7% stake in Evergreen.
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Bezant Resources PLC- copper and gold exploration company with projects in Africa, South America and the Philippines - Says that the EPL 7170 licence, owned by the company's 80%-owned subsidiary Hope Namibia Mineral Exploration Ltd, has been renewed for two years from October 22, pending the obtaining of an environmental clearance certificate from the Namibian forestry and tourism ministry. Bezant says it has engaged "an experienced environmental consultant well-versed in Namibian environmental legislation to assist with the application for the ECC".
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Renalytix PLC - prognostic technology company focused on the treatment of chronic kidney disease - Says its KidneyIntelX in-citro diagnostic test has been included in the final "Kidney Disease Improving Global Outcomes" 2024 clinical practice guideline. Says the committee highlighted the role of risk prediction in determining care for patients with kidney disease, which the company says supports the use of its KidneyIntelX test to predict the disease's progression. Renalytix's Chief Medical Officer Michael Donovan says: "Renalytix welcomes these new updates from KDIGO which provide for clear and timely treatment strategies for health care professionals and we look forward to continuing to release evidence to highlight the role that KidneyIntelX is playing achieving the goal of optimizing patients' outcomes and enhancing quality of life".
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By Hugh Cameron, Alliance News reporter
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