16th Jun 2025 21:53
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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SkinBioTherapeutics PLC - Newcastle, England-based skin health-focused life sciences company - Signs exclusive UK commercial agreement with Superdrug Stores PLC, related to its AxisBiotix food supplements to alleviate the symptoms of inflammatory skin conditions. The initial roll-out will occur in early September in Superdrug stores which typically have higher sales of medicated skincare relative to the rest of its group. A phased roll-out to the rest of Superdrug's UK store portfolio is scheduled to commence in spring 2026. Chief Executive Stuart Ashman calls the deal a "major milestone". "We have been in discussions for a considerable period of time to determine the right way to promote, package and roll-out both of the AxisBiotix products. Importantly, we retain the worldwide rights to sell the products ourselves directly online and via Amazon, and remain in control over how our products are promoted," he adds. To support this deal, raises GBP4.1 million via placing and subscription at 17 pence each. In addition, plans GBP615,000 retail offer. In addition, announces that it has been granted Seal of Recognition by the US National Psoriasis Foundation and inclusion in its approved product directory.
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Safestay PLC - London-based hostel operator - announces that it has been awarded a business interruption insurance claim totalling GBP1.4 million. The claim relates to the business interruption experienced by the group during the Covid-19 pandemic. Payment of the claim will be received within the next 21 days and will be recognised as a post-balance sheet event in Safestay's 2024 financial results, due for release later this month.
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Power Metal Resources PLC - metals exploration company with projects in North America, Africa, Saudi Arabia and Australia - Further to announcement in March, decides not to enter into a binding agreement to buy a 49% stake in the Qatan exploration licence in southern Saudi Arabia. Power Metal says it, and Al Masane Al Kobra Mining Co, a Saudi Arabian listed exploration and mining company, are unable to reach mutually acceptable terms. "The company affirms its continued readiness to explore future partnership opportunities that contribute to supporting its growth and strategic plans with AMAK in the near future," it says in a statement.
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Glencore PLC - Barr, Switzerland based commodity trading and mining company - Confirms that all regulatory closing conditions have been satisfied for the merger of Viterra Ltd with Bunge Ltd and the transaction will close in early July. In June 2023, Glencore said its grain handling investee Viterra had struck an agreement to be acquired by New York-listed agricultural firm Bunge Ltd.
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Great Western Mining Corp PLC - Nevada-focused gold, silver and copper explorer - Announces assay results from a reconnaissance sampling programme targeting tungsten mineralisation at and around the Pine Crow and Defender tungsten workings where it has recently expanded its acreage. Says the results significantly upgrade the tungsten potential around and between the workings. Sees potential for "significant upgrade" between the two workings with use of modern technology. Will now fast-track further exploration on these claims. The next phase will entail mapping and soil sampling together with geophysical surveys, including gravity, and trenching. "It is still early days, but these initial results generated by our exploration team are extremely encouraging," says Chair Brian Hall.
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Phoenix Copper Ltd - US-focused base and precious metals producer and explorer - Pretax loss balloons to USD6.2 million in 2024 from USD1.6 million a year prior. No revenue reported, unchanged. Bottom line suffers from jump in other operating expenses to USD4.6 million from just USD14,372. This reflects an exceptional USD4.6 million write-down of bond issue expenses. "Bullish" stance on copper remains intact. Says artificial intelligence and the gig economy are emerging as key drivers of growth in demand. One gigawatt of power for a new data centre requires in excess of 25,000 tonnes of cabling, Phoenix points out. Also watching China, "consuming as they do approximately 50% of the world's copper."
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By Jeremy Cutler, Alliance News reporter
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