23rd May 2024 21:25
(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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Windward Ltd - Tel Aviv, Israel-based maritime predictive intelligence company - Signs three-year deal with Ligentia, a supply chain management company, for Windward's Ocean Freight Visibility solution. "Tailored to the needs of freight forwarders, Ocean Freight Visibility will be integrated within the Ligentix supply chain portal, providing a real-time understanding of vessel schedules and arrivals, deviations and risks, empowering Ligentia's teams and their customers to manage by exception," Windward adds.
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Kodal Minerals PLC - West Africa-focused mineral explorer and developer - Says construction of Bougouni lithium project in Mali "gains momentum". Says construction of DMS processing plant and crushing circuit "progressing as scheduled". Shipping of equipment from China to West Africa expected to take place on or around June 5. Also arriving around that time will be structural steelwork fabrication. Says consortium of mining contractors, including Auxin Mining Services Mali SARL and Enterprise Generale Traore et Freres SARL, mobilised to Mali asset back in April. "Site clearing is complete, ahead of plant construction due to commence in early June," Kodal says. "The contract for the site civil construction has been awarded to Bambara Resources SARL together with established and experienced Malian-based company with a China parent, GZB Mali, part of the Gezhouba Group, and is expected to mobilise to the site to commence work in early June." First production at asset expected in fourth-quarter.
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CleanTech Lithium PLC - Chile-focused lithium exploration and development company - Says initial batch of "high quality concentrated eluate" leaves firm's facilities and is in transit with third-party processor Conductive Energy before it is converted to battery-grade lithium carbonate. "The concentrated eluate was produced by the company's DLE pilot plant in Chile. The shipment of this batch represents the first of several batches that will be processed into battery-grade lithium carbonate," it adds.
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Eqtec PLC - Cork, Ireland-based thermochemical conversion technology company - Secures refinancing of its existing secured lending facility. The new funding replaces the previous funding with a non-convertible secured term loan facility with no scheduled repayments until May 2026. Chief Executive David Palumbo says: "We are pleased to secure a new term loan with our secured lenders which we believe is a positive development for EQT. The material reduction in anticipated cash payments to the lenders, combined with the anticipated cash inflows from the Logik settlement payment, will provide a good foundation for EQT to move into a growth phase with increasing recurring monthly revenues from operations."
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Phoenix Copper Ltd - US-focused base and precious metals producer and explorer - Reports results from Navarre Creek exploratory drilling programme in Idaho, US. Operations included 28 reverse circulation drill holes into four target areas within 4,000 acre claim block, and two of four targets saw "mineralisation of significance".
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Greatland Gold PLC - development and exploration company, focused primarily on precious and base metal mining in Western Australia and Tasmania - Granted new exploration licence at Mount Egerton gold-copper project. The E52/4342 licence, named Woodlands, "further enhances our excellent exploration portfolio", Managing Director Shaun Day says. "Our exploration team identified Mt Egerton as an excellent regional and local geological setting for the discovery of major gold and copper deposits. With the successful grant of our first tenement, we will now work to compile and interpret available data to plan systematic, targeted exploration on the ground in the near future," Day adds.
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Panther Metals PLC - investor in and acquirer of companies within the natural resource sector - Raises GBP375,000 by issue of 8.3 million shares at 4.5 pence each in placing. Placing shares represent 8.2% of enlarged share capital. "The net proceeds of the placing will be used to advance the company's exploration programmes following our graphite and VMS discoveries on the Obonga greenstone belt in Ontario, Canada and for general working capital purposes," it adds.
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Trinity Exploration & Production PLC - Trinidad & Tobago-focused oil exploration and production - Revenue in 2023 totals USD69.8 million, falling from USD92.2 million in 2022. Swings to pretax loss of USD9.5 million, from profit of USD2.5 million.
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Avacta Group PLC - Wetherby, West Yorkshire-based life sciences company developing cancer treatments and diagnostics - Reports completion of first cohort, as well as dosing of three patients in second cohort, in dose escalation study of phase 1 trial for AVA6000 oncology treatment. CEO Christina Coughlin says: "We're delighted to be progressing the two weekly dosing schedule arm of the phase 1 trial of AVA6000. This is an important milestone."
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Roquefort Therapeutics PLC - London-based biotechnology company - Signs term sheet for out-licensing deal of Midkine antibody portfolio to PDC FZ-LLC, a pharmaceutical research firm. Roquefort receives a USD10 million initial consideration "and a guaranteed share of the trade sale proceeds on successful completion of phase 1 clinical trials". Roquefort will earn around 24% from any successful trade sale proceeds. If phase 1 trial is successful, that chunk is expected to be worth USD50 million, it predicts. In addition, the firm issues unsecured convertible loan notes to raise net proceeds of GBP584,915
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By Eric Cunha, Alliance News news editor
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