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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Abingdon Health PLC - York-based company is an international developer and manufacturer of rapid diagnostics tests - Says outlook for 2023 remains unchanged from when it released its annual results in November and that it is well-placed to grow. Explains that the current priority is to move to a positive cash flow position.
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Anglo Asian Mining PLC - Gold, copper and silver producer focused on Azerbaijan - Completes preliminary mineral resource estimate at Gilar deposit. Says MRE shows 135,500 ounces of gold and 21,600 ounces of copper. Estimates 1.2 grams of class 1 & 2 gold per tonne and 0.66% class 1 & 2 copper.
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Camellia PLC - Kent-based agriculture and engineering services firm - Sells interest of its food temperature-controlled storage and logistics unit Associated Cold Stores & Transport Ltd to HSH Coldstores Ltd for £16.5 million, which it will receive upon completion. HSH Coldstores is a provider of temperature-controlled storage and distribution solutions. Further, Camellia will receive a pre-completion £3.8 million cash dividend. Expects sale to complete on January 10. Meanwhile, Camellia will relocate its head office to property owned by and located in Wrotham, Kent from its current Linton Park premises. Meanwhile, seeks planning approval for current premises to convert for rental or sales market.
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Critical Metals PLC - Africa-focused natural resources investor - Acquires remaining 22% stake of Madini Occidental for initially £450,000. Madini holds a 70% interest in the Molulu copper cobalt mine licence in Democratic Republic of Congo. Critical Metals will pay a further £200,000 for the acquisition by October 2023. Critical Metals Chief Executive Officer Russell Fryer says the acquisition results ‘in a stream-lined and more efficient ownership structure while more importantly, providing our shareholders with a much larger interest in the high potential cash generating Molulu project.’
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Oracle Power PLC - Cambridge, England-based power and natural resource project developer with focus on Pakistan - Starts topography survey on Green Hydrogen project site in Sindh, south-east Pakistan via its joint venture Oracle Energy Ltd. Further, appoints consultancy firm Fugro Pakistan BV to map 28 square kilometre site using drones. Expects the survey to complete in the first quarter of 2023, and the commercial and technical feasibility study to release in the first half of 2023. ‘The project includes plans to develop solar and wind power facilities with a combined output capacity of 1.2 gigawatt,’ Oracle Power explains.
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