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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Anglo Asian Mining PLC - Gold, copper and silver producer primarily focused in Azerbaijan - Reports drop in the output of gold equivalent, which in the first quarter to March 31 falls 20% to 10,969 ounces from 13,720 a year prior. The gold production decreases 33% to 6,741 ounces from 10,040 ounces, while the gold sales price per ounce as at March 31 falls 0.5% to $1,895 from $1,904. Gold sales in the quarter decline 24% to 5,719 oz from 7,519 oz. Looking ahead, company plans to bring four new mines in production between 2023 and 2028.
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Block Energy PLC - London-based oil and gas exploration and production company focused on Georgia - Posts higher oil output for three months to March 31, of 36,000 barrels of oil equivalent, up 4.7% from 34,400 a quarter ago, but down 22% from 46,100 a year ago. Revenue falls to $1.2 million from $1.8 million a quarter ago and from $2.4 million a year prior. Weighted average price per barrel falls 5.1% to $75 from $79 quarter ago, and 16% from $89 a year ago. The company adds as at March 31, it has about 12,500 barrels of oil in storage which it anticipates to sell in April, generating about $1.0 million in revenue at the current Brent price, which will be reported in the next reporting period.
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Faron Pharmaceuticals Ltd - Turku, Finland-based biopharmaceutical drug discovery and development company - Announces data for bexmarilimab, its immunotherapy asset that is an antibody, in combination with standard of care in relapsed/refractory acute myeloid leukaemia and myelodysplastic syndromes. Myelodysplastic syndromes are a group of cancers in which immature blood cells in the bone marrow do not mature or become healthy blood cells. Company explains that in cohorts, patients showed responses, such as a haematological improvement in platelets. Faron says it is on a potential path to a biologics license application submission, planning to seek advice from the US Food & Drug Administration during the third quarter of the year. Chief Executive Officer Markku Jalkanen said: ‘The latest data are a powerful indication of the therapeutic potential for bexmarilimab in hematological malignancies.’
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Infrastructure India PLC - AIM-listed, India-focused infrastructure fund - Agrees to increase loan with IIP Bridge Facility LLC by $8 million to $119 million, with the amount of interest accrued set to be around $70.9 million.
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More Acquisitions PLC - special purpose acquisition company - Announces it is in the final stages of the proposed reverse takeover of Wiltshire, England-based steel distributor Megasteel Ltd. In September, More Acquisition had said Megasteel is valued at between £49.5 million to £63 million.
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Ondine Biomedical Inc - Vancouver-based life sciences company innovating in the field of photodisinfection therapies - Reports ‘substantial’ progress on the preparation of its phase 3 clinical study for the commercialisation of Steriwave in the US, its nasal photodisinfection therapy, which it in January said had been found to improve short- and long-term immune responses while also ‘significantly’ reducing Covid-19 infectivity.
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Sealand Capital Galaxy Ltd - Asia-focused digital investor that offers financial and strategic support to entrepreneurs - Enters into final year of sole distribution agreement with HH Simmonsen AS, which Sealand says is on ‘more favourable terms.’ Explains that it will only pay 50% upfront for the cost of merchandise it orders from HH Simmonsen, down from the full cost. HH Simmonsen is a Denmark-based brand of hairdressing specialists.
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