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TRADING UPDATES: Power Metal firms Tati gold; Union Jack inks deal

6th Feb 2024 17:35

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

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Power Metal Resources PLC - exploration company focused on North America, Africa, and Australia - Says that sampling at the Tati project in Botswana has confirmed "extensive gold". The project is located on the Tati Greenstone Belt near Francistown. According to Power Metal, geochemical soil sampling assay results confirm the presence of three significant gold-in-soil geochemical anomalies. These, it explains, prove further continuity with the eight kilometre-long gold trend at Tati. Of the 446 samples taken, 3 returned greater than 500 parts per billion gold. Chief Executive Officer Sean Wade says: "Each stage of work at Tati has delivered extremely positive findings and we are more confident than ever that the project holds very significant value for the company. As a result, we are positively moving forward to next stage exploration whilst in parallel continuing discussions with potential partners interested in the early-stage mining possibility that exists at Tati."

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Hydrogen Utopia International PLC - London-based operator of facilities that turn non-recyclable mixed waste plastic into hydrogen and other carbon-free fuels - Says that King Fild LLC Ohrid, a subsidiary of King Fild DOO, has agreed to buy 13,567 square meters of land adjacent to King Fild's medical cannabis facilities. The total cost for the land is EUR324,816.00, with a down payment made, and the rest to be paid in instalments over the next 3 years. Expects that an area exceeding 10,000 square meters will be used to roll out a Hydrogen Utopia waste plastic to hydrogen facility.

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Union Jack Oil PLC - Bath-based UK-focused oil and gas company - Signs farm-in deal with Reach Oil & Gas Company Inc to buy a 45% working interest in a well, which is due to be drilled in the second quarter of this year, to test the West Bowlegs prospect in Oklahoma. The Andrews-1 well has a 75% geological chance of success, and Union Jack will pay 60% of costs to earn a 45% economic interest. Going forward, the cost of further planned wells will be based on the company's 45% economic interest. Further, Union Jack will pay USD347,000 in seismic acquisition and planning costs.

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Blencowe Resources PLC - developer of the Orom-Cross graphite project in Uganda - Raises GPB392,350 at 5 pence per share with a specialist African-based investor through the issue of 7.8 million new shares. Additionally, raises a further GBP2.5 million, also at 5p per share, through the issue of 50.0 million new shares to an additional "strategic investor".

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All Things Considered Group PLC - London-based music firm, which provides talent management, live booking and livestreaming - Buys a 50% interest in Mckeown Asset Ltd, a UK holding company for a number of businesses across the live entertainment and music sector, for an initial consideration of GBP475,000. Says that this will give it access to "new market opportunities", diversifying revenue streams and increasing cross-selling potential. Mckeown will sit under the ATC Events division, providing a platform for potential additional venue and festival consolidation opportunities.

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Windar Photonics PLC - London-based technology group, which has developed a cost-efficient and innovative LiDAR wind sensor for use on electricity generating wind turbines - Celebrates two new confirmed orders from Chinese customers, with a combined gross value of EUR1.3 million, both for delivery in 2024. This brings total order intake for the Chinese market in the last two months to EUR3.9 million. Windar says this keeps it "well on track" to meet production and revenue targets for year. Additionally, has entered sales agency agreement with AC883 Nordic Trade Services, an operator in the US wind turbine sector. Chief Executive Officer Jorgen Korsgaard Jensen says: "We would expect this to underpin and accelerate our growth in the North American market."

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Kingswood Holdings Ltd - London-based wealth manager - Confirms that its Irish subsidiary, Moloney Investments Ltd, has completed the acquisition of BasePlan Ltd following regulatory approval. BasePlan is a retirement planning advice firm based in Dublin, Ireland. Kingswood didn't specify the cost of the acquisition. Chief Executive Officer David Lawrence says: "We are delighted that we have now received regulatory approval to complete the acquisition of Base Plan Limited. We acquired MMPI in March 2023 with the intention of identifying acquisition opportunities to help scale the business. We see the Irish market as rich in opportunity and hope to further add to our MMPI business in the near future."

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JPMorgan Global Core Real Assets Ltd - investment firm focused on real estate assets - Says that Tisef Ltd bought 95,000 shares at 68p each on Monday for GBP64,600. Tisef is a PCA to Chris Russell, the chair of Ruffer Investment Company Ltd, and an independent director at JPMorgan Global Core Real Assets.

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By Holly Beveridge, Alliance News reporter

Comments and questions to [email protected]

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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