The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Petra Diamonds Ltd - diamond mining group focused on southern Africa - Says it sells 519,397 carats of diamonds in its third tender, increasing 17% from 444,029 in its second tender, and from 303,300 carats in the third tender a year ago. Says year-to-date sales are 1.7 million carats, from 1.3 million carats the year prior. Says it sold $67.9 million worth of diamonds in the tender, up from $40.5 million in the second tender and $41.5 million in the third tender in 2023. Notes that the average diamond price was $131 per carat, up from $91 in the second tender, but down from $137 a year ago.
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abrdn Diversified Income & Growth PLC - Says it is in the best interests of its shareholders to put forward wind-down proposals. Says it will conduct a realisation of its assets ahead of the wind-down. Adds that it expects to return £115 million in the first half of 2024 close to its net asset value. Notes that £107.3 million of its private markets portfolio is expected to mature between 2024 and 2027, with the proceeds to be returned to shareholders. Says remaining £81.5 million of private markets portfolio will mature between 2029 and 2033. Notes that it will no longer make new investments, will look to cut costs and will repay £16.1 million in debt in 2024.
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Power Metal Resources PLC - Metals exploration company focused on North America, Africa, and Australia - Says it has signed a drilling contract with Discovery Drilling Contractors Africato drill its T1-14 target at its Molopo Farms complex in Botswana. Notes that Africato completed its 2021 campaign at Molopo. Says final preparations are underway, with drilling set to begin in January 2024. Power Metal owns an 88% stake in Kalahari Key Mineral Exploration Pty Ltd, which owns the Molopo project. Chief Executive Sean Wade says: ‘I am pleased to be able to give shareholders certainty on the drill contract following our previous announcement on Molopo Farms. We are very excited to be getting underway in the New Year and are confident that the detailed analytical work we have done this year will maximise our chances of success with this campaign.’
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Braveheart Investment Group PLC - Dodworth, England-based investment company - Says Net asset value per share was 15.42 pence at September 30, down from 17p at March 31. Says it posted a pretax loss of £732,000 in the half year ended September 30, widened from £561,000 the previous year. Says Basic loss per share widens to 1.15 pence, from 0.88 pence previously. Notes that the loss is predominantly due to the reduction in value of Phasefocus Holdings. Looking ahead, says it will seek a buyer for Paraytec, which it says is the most effective way for shaerholders to realise value from their investment.
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