8th Jun 2020 14:41
(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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BlueRock Diamonds PLC - diamond producer in South Africa - Reports private sale of 2,400 carats at average of USD290 each, USD700,000 in total. Says sales reduces risk of operating in Covid-19 environment.
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Nostra Terra Oil & Gas Co PLC - Texas-focused oil and gas explorer - Achieves further cost cuts after review. Says monthly overheads cut by over 60% from 2019 average. Lifting coats at Pine Mill cut to USD16 per barrel of oil from USD23.
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Egdon Resources PLC - UK-focused oil and gas explorer - Says UK Oil & Gas Authority has extended Egdon's rights over P1929 and P2304 UK offshore licences until May 31, 2024. Egdon to progress with assigning licence interests to oil major Royal Dutch Shell PLC. Egdon to retain 30% interest in licences and Shell to pay 85% of costs.
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Echo Energy PLC - Argentina-focused oil and gas producer - Says first quarter net average production rate at Santa Cruz Sur was 2,394 barrels of oil equivalent per day versus 2,505 boepd between November 1 and December 31. Echo Energy identifies 16 " low cost workover and intervention operations" at asset.
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Union Jack Oil PLC - UK onshore hydrocarbon production - Acquires further 13% interest in PEDL180 and PEDL182 licences, which contain Wressle hydrocarbon development project, for GBP500,000. Union Jack now has 40% interest in Wressle development.
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Red Emperor Resources NL - Australia-based explorer - Decides against exercising option to acquire 70% stake in WA-481-P offshore Perth Basin exploration permit.
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Hummingbird Resources PLC - London-based gold miner - Agrees terms to acquire Kouroussa gold project in Guinea from Cassidy Gold Corp. Hummingbird says initial GBP10 million consideration to be funded by issue of 35.2 million shares at 28.4 pence each.
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Greatland Gold PLC - London-based gold explorer - Says partner at Havieron project, Western Australia, strikes indigenous land use agreement with Western Desert Lands Aboriginal Corp. Greatland says agreement will strengthen mining lease application at asset.
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TP Group PLC - Reading-based engineering services provider - Reports first oxygen output at gas production plant in Portsmouth. TP says trial met all objectives in first phase.
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Surface Transforms PLC - Liverpool-based brake discs maker - Secures GBP5 million contract for ceramic brake discs supply for Koenigsegg Gemera vehicle produced by Sweden's Koenigsegg Automotive AB. Surface Transforms says production begins in mid-2022, ending five years later.
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Costain Group PLC - Berkshire-based infrastructure solutions provider - Appointed onto Anglian Water's GBP350 million strategic pipeline alliance. For duration of eight-year contract, Costain to provide programme management and digital technology services.
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DX Group PLC- Slough-based logistics provider - Plans to launch expanded operating centre in Ipswich, East Anglia. DX says move to larger premises to improve services in range of sectors including medical and online retail.
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Crossword Cybersecurity PLC - London-based cyber security provider - Signs three-year contract with Agria Pet Insurance Ltd for cyber security services. Agria will receive regular testing of its cyber security technology and risks. Crossword did not quantify value of contract.
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Frontier Developments PLC - video games maker in Cambridge - Expects to report revenue of GBP76 million for year ended May 31, down 15% from GBP89.7 million. Operating profit fell 18% to about GBP16.0 million.
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AorTech International PLC - Glasgow-based medical devices maker - Says RUA Medical Devices Ltd subsidiary received new orders for delivery in August 2020 from largest customer. Largest customer had initially suspended forecasts and orders due to US government halting elective surgeries due to Covid-19.
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Midatech Pharma PLC - Cardiff-based biotechnology firm - Launches partnership with India-based Dr Reddy's Laboratories. Research pact will see Midatech use its drug delivery platform with aim to improving Dr Reddy's medication.
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Triple Point Social Housing REIT PLC - London-based real estate investment trust - Completes acquisition of seven properties for about GBP7.6 million. Says 100% of rent due for April received.
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Regional REIT Ltd - UK-focused property investor - Completes sale of Building 2 and 3 The Oaks in Westwood Business Park, Coventry for GBP6.3 million. Sale price reflects net initial yield of 6.5% and 8.6% above latest valuation, Regional said. Proceeds will be used to fund a "new opportunity".
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Frenkel Topping Group PLC - Manchester-based asset manager - Establishes joint-venture with Manchester-based Express Solicitors to provide life after settlement advice to Express clients who have suffered from personal injury. Joint-venture will be 50-50 owned, Frenkel adds.
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By Eric Cunha; [email protected]
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