17th Jul 2024 18:53
(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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NIOX Group PLC - Oxford-based developer of medical devices for asthma diagnosis and management - Revenue in six months to June rises 12% to GBP21.0 million. Revenue climbs 15% at constant currency. Adjusted earnings before interest, tax, depreciation and amortisation up 15% to GBP7.1 million from GBP6.2 million a year prior. "I am pleased to report continued growth in revenues and profits in the first half of the current financial year, during which the group has traded in line with management expectations. Our core Clinical business, which continues to benefit from a high degree of recurring revenues, grew at 14% in constant currency terms," Executive Chair Ian Johnson says.
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Panthera Resources PLC - gold exploration and development company owning multiple assets across West Africa and India - Begins drilling programme at Bido asset in Burkina Faso. Programme includes 2000 metres of reverse circulation drilling. "The company has been actively exploring the licence for several years culminating in a focused drilling campaign. The three drill fences will test targets selected by their coincident geophysics, visible quartz veining and orpailleurs activity," Panthera adds.
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Enwell Energy PLC - Ukraine-focused oil and gas exploration and production company - Second-quarter production declines to 2,025 barrels of oil equivalent, from 2,659 a year prior. "The ongoing war in Ukraine continues to cause disruption to operations at the company's fields, and the adverse regulatory actions taken by the Ukrainian authorities, culminating in suspension of the VAS and SC licences on 4 May 2023, similarly negatively impacted the company's operations during the period, most notably by the loss of production from the VAS field," Enwell says. "However, the suspensions of these licences were lifted on 26 June 2024 and production from the VAS field is expected to resume in Q3 2024. Production volumes at the MEX-GOL and SV fields were lower when compared with Q2 2023 predominantly due to natural field decline."
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Angus Energy PLC - UK-focused onshore oil and gas developer - Has completed its annual maintenance shutdown for 2024 on schedule. Maintenance and improvement project work scopes, including the installation of compressor acoustic hoods, were delivered successfully within the scheduled five-day outage with no safety incidents and with no harm to the environment, the firm elaborates.
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Oriole Resources PLC - West Africa-focused mineral exploration company - Says phase five drilling programme at Bibemi gold project in Cameroon is ongoing. "To date, a total of 10 vertical holes have been completed for approximately 1,244m at the main BZ1 mineral resource estimate area," Oriole says. "Samples from these holes are being prepared in-country and initial results from the programme are anticipated in Q3-2024." Oriole owns just over 82% of Bibemi.
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European Green Transition PLC - Europe-focused company develops green economy assets with projects covering critical materials, solar, wind, processing, and recycling - Says test work confirms mineralisation style at Olserum is capable of "producing a rare earth elements-rich concentrate". European Green explains a bulk concentrate containing the minerals monazite, xenotime and apatite was produced, with high recoveries of between 84.4% to 92.6% for light rare earth elements and 80.9-90.7% for heavy rare earth elements. "The bulk REE-apatite concentrate had grades between 10.5% and 12.6% total rare earth elements," it adds. "This was increased to 30-40.11% total rare earth oxides after high gradient magnetic separation on the bulk concentrate with initial recoveries of between 55.3-64% for [light rare earth elements] and 53.8-72.5% for [heavy rare earth elements] respectively, representing a mass pull of only 1.03-2.04%," EGT says. These findings will "support the company in seeking to monetise the Olserum project by attracting a partner to fund a larger scale programme", it adds.
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Bluejay Mining PLC - metals mining company with operations in Greenland and Finland - Says tilt at acquiring up to an initial 51% of White Flame Energy Ltd for GBP1.4 million has the support of around 95% of White Flame investors. "Bluejay has also been granted a 3 year option to acquire the remaining 49% on the same terms," it adds. "The process of transferring the WFE shares will take place over the coming weeks and further details on the issue of the consideration shares to the WFE vendors and the company's change of name will be announced at the appropriate time." Bluejay received share approval earlier in July for a name change to 80 Mile PLC.
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Mineral & Financial Investments Ltd - natural resources sector-focused investment company - Investee Redcorp files final stage submission of environmental impact assessment for Lagoa Salgada polymetallic project in Portugal. Once the assessment has been approved, the project moves to the RECAPE phase, which stands for environmental compliance report of the execution project. "The RECAPE phase aims to verify that the execution of the project complies with the criteria established in the environmental impact declaration; complying with the terms and conditions set forth therein would position the project to be ready for the execution of a formal construction decision once all criteria are determined and approved. M&F owns a conditional 20% carried interest in Redcorp and Ascendant Resources Inc the balance.
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CyanConnode Holdings PLC - developer of narrowband radio frequency mesh networks - Says Indian subsidiary achieves "key milestones" as passes multiple site acceptance tests at "several key projects". It also achieves "go live" status at one site. "The 'go live' milestone is a critical achievement for any project as it signifies the transition to the billing phase, allowing for revenue generation. The SAT qualification process involves rigorous quality and performance testing of the meters and the communication network, ensuring the highest standards of operation," CyanConnode adds.
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Versarien PLC - Gloucestershire-based engineering materials group operating nine subsidiaries - Converts outstanding convertible loan of EUR1.3 million, plus interest of EUR207,000, into shares in subsidiary Gnanomat SL. "The loan was made to Gnanomat following its acquisition by the company in October 2018. As a result of the loan conversion, the company's interest in Gnanomat increases from 62% to 90%," it adds. "The loan has been converted to allow Gnanomat to apply for local grant funding from the Madrid region, to finance a project relating to next generation energy storage devices based on Gnanomat's advanced materials."
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By Eric Cunha, Alliance News news editor
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