The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Mattioli Woods PLC - Leicester-based asset manager - For the six months ended November 30, pretax profit drops 21% to £3.3 million from £4.2 million, due to higher employee benefit costs and impairments, more than offsetting a 69% year-on-year increase in revenue to £49.9 million from £29.5 million. As at November 30, total client assets rise 24% to £15.08 billion from £12.12 billion at the start of June, and 43% higher from the same date the year before. Declares dividend per share at 8.3 pence, up 11% from 7.5p a year prior.
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Phoenix Spree Deutschland Ltd - Investor specialising in German residential real estate - As at December 31, total portfolio value reaches €801.5 million, a 4.3% increase from €768.3 million the same date a year prior. For 2021 as a whole, like-for-like portfolio value increases 6.3%, while condominium pricing remains strong in 2021. Net asset value per share is expected to come in between €5.60 to €5.66 from €5.28 at the end of December 2020.
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Blencowe Resources PLC - miner focused on developing the Orom-Cross graphite project in Uganda - Drilling at the Northern Syncline Lode on the Orom-Cross graphite project has delivered outstanding high grade results, which is expected to bolster the updated mineral resource estimate and reserve determination which is expected to be released in late February.
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Urban Logistics REIT PLC - specialist UK logistics real estate investor - Following its £250 million equity raise in December, has acquired £39.5 million in logistics assets at a NIY of 5.0%, while £68.1 million of capital has been deployed since the fundraise. The company’s portfolio now consists of 1110 urban logistics assets.
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Great Western Mining Corp PLC - gold, silver and copper explorer and developer in US state of Nevada - In 2022 drilling programme, has planned 23 holes at Trafalgar Hill, OMCO and Rock House, which will be funded from existing cash reserves and is on-track to start in early spring as soon as ground conditions permit.
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Rainbow Rare Earths Ltd - rare earth element mining in Burundi, East Africa - Reports positive results from ongoing phased test work programme at the Phalaborwa project in South Africa, including the discovery of strong recoveries and optimisation opportunities, reduced capital and operating costs and environmental benefits. The test work results will allow the company to develop and economic rare earths extraction flowsheet as part of the project’s feasibility study.
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Serinus Energy PLC - oil and gas projects in Tunisia and Romania - Commences 105 kilometre 2D acquisition program in Romania, which will be shot to the north of the Moftinu gas field, and is planned to take place over ten days. The finishing data is expected to allow Serinus to choose the optimal drilling locations for the upcoming three-well drilling program, which is due to take place in the third quarter of 2022.
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BP Marsh & Partners PLC - investor in early stage financial services businesses - Notes positive trading period in year ended January 31, with many realisations being made in the second half, leading to an increase in liquidity and an anticipated cash balance of £18.2 million, once the sale of Summa Insurance Brokerage SL is completed. For the year, recommends dividend per share of 2.78 pence, and expects to maintain this figure for the next two financial years. Looking ahead, BP Marsh’s strong performance is expected to continue throughout the current financial year.
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Hummingbird Resources PLC - gold miner with projects in Mali, Liberia and Guinea - Notes announcement by Pasofino Gold Ltd that the feasibility study for Dugbe gold project in Liberia is scheduled for completion in April. This is confidence that the study will confirm gold recoveries of between 85% and 91%, and open pittable resources including 57 million tonnes of material, grading 1.58 grams per tonne with 2.88 million ounces of gold.
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Landore Resources Ltd - BAM gold project at Junior Lake in Ontario, Canada - Notes completed update to mineral resource estimate on the BAM Gold project in Ontario, Canada, which has increased the in-situ resources to 49.23 million tonnes, at a grade of 1.0 grams per tonnes for 1.50 million ounces of gold, up 47% from 2019’s estimate of 1.01 million ounces. The project now extends for 4,300 metres from 200 watts to 4100E and remains open down dip.
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Empire Metals Ltd - Gold and copper miner with assets in Australia, Georgia and Austria - Will start a strategic phase of exploratory drilling at the Eclipse gold project alongside initial drilling at the Gindalbie gold project, located adjacent to each other in the Eastern Goldfields of Australia. In addition, the company will not take up the option over the Central Menzies gold project, following inconclusive findings from a second reverse circulation drilling.
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