Source - Alliance News

The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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MediaZest PLC - Woking, England-based audio visual services firm - Says revenue for year ended September 30 falls to £2.2 million, from £3.1 million in 18 months to September 30, 2020. Pretax loss narrows to £140,000 from £478,000. ‘The group's financial results for the year ended 30 September 2021 were affected substantially by the Covid- 19 pandemic in the first half of the year, with a significant reduction in revenue particularly during the UK lockdown between December 2020 and late February/March 2021,’ company says. ‘In response, the board reduced costs wherever possible without compromising the long-term goals of the business.’

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SpaceandPeople PLC - AIM-listed retail, promotional and brand experience specialist - Extends pact with Network Rail, which manages rail infrastructure in UK. Deal is for provision of exhibitions, events and distribution activity and is extended for further year to March 2023. ‘The agreement covers Network Rail's portfolio of major London and regional railway stations as well as Victoria Place Shopping Centre in London, providing access to many of the highest footfall venues in the United Kingdom,’ company adds.

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Newbury Racecourse PLC - racing, entertainment and events company - Receives £10.7 million payment from David Wilson Homes. ‘This is the final contractual payment due to the company in relation to the purchasing of land for the redevelopment of the racecourse,’ Newbury says. ‘A substantial amount of these funds will now be used to pay down the company's NatWest bank loan and settle the final repayment of the Compton Beauchamp Estates loan.’

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Live Co Group PLC - Surrey, England-based live events, entertainment and sports events company - Says 50%-owned KPE inks merchandising agreement for KPOP.Flex concert and fan fest in Frankfurt. ‘Use of KPOP.FLEX and FLEXEY names and associated logos to develop, manufacture, advertise and sell certain approved goods granted by LVCG to Nylon Merchandising Ltd,’ Live Co says. ‘Nylon have over twenty years of experience across worldwide touring, online, retail and licencing merchandise experience. Their artist list includes Blondie, Sting, Celine Dion, ACDC and Aerosmith.’

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Cora Gold Ltd - Gold company focused on West Africa - Finds new surface gold discovery at Sanankoro project in Mali. ‘Results support future exploration work on the permit areas to follow up the initial results,’ Cora Gold says.

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Jadestone Energy PLC - oil and gas assets in Australia, Malaysia, Indonesia, Vietnam and the Philippines - Says output at Montara project in Australia restored. ‘As previously announced, Montara production has in recent weeks been running at reduced rates following an engine failure in the gas reinjection compressor. The engine has been replaced and gas lift reinstated, allowing for full production to be restored at rates seen immediately prior to the gas compressor fault,’ Jadestone says.

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Victoria Oil & Gas PLC - energy supplier in Africa - Enters into definitive agreement with Hadron Master Fund to raise $1.2 million through issue of unsecured loan note. Funds to be used for working capital purposes. Repayment date is February 28 next year and Victoria will repay 110% of loan note amount, without further interest.

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Anglo Asian Mining PLC - gold, copper and silver producer focused in Azerbaijan - Finds new gold vein, dubbed Hasan, at south of main Gosha mine. ‘We are highly encouraged by the discovery of the promising Hasan vein, which looks to be an exciting addition to the Gosha mine. We are now planning the mining of the vein, whilst our ongoing assessment work at Vejnaly continues to progress,’ Chief Executive Reza Vaziri comments.

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W Resources PLC - London-based tin and gold mining company with projects focused in Spain and Portugal - Says BlackRock Financial Management Inc has agreed to increase its existing loan facility by an additional $5.5 million. Says additional funding will in part be used to fund some items of capital expenditure at the La Parrilla mine. This includes additional plant and equipment, completion of the crushed ore stockpile, improved laboratories and improved buildings for both finished goods.

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Xtract Resources PLC - London-based metals and minerals producer - Says seven further exploratory drill holes completed at Bushranger copper-gold porphyry exploration project. New holes were located at Racecourse and Ascot prospects. ‘Initial core logging suggests that the Ascot mineralised zone extends for at least 300 metres along strike,’ Xtract says. On Monday, company said a MIMDAS geophysical survey began at area south of Racecourse, including Ascot. ‘The main focus will be to image the response of the recently discovered Ascot mineralisation to target further drilling,’ Xtract said.

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Bluejay Mining PLC - mineral exploration and development in Greenland and Finland - Says European Raw Material Alliance backs Dundas ilmenite project in Greenland. Moves enables it ‘ to secure supply of Dundas ilmenite for end users within the European Union’. Bluejay adds: ‘This will aid the creation of a secure mining and supply chain option for titanium ore and concentrate, of which ilmenite is the principal constituent, for the European Union.’

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Alien Metals Ltd - London-based exploration company focused on Australia, Mexico and Greenland - Finds more ‘significant high-grade iron ore drill’ intercepts at Hancock project. ‘We are again delighted with the outcome of this third drilling programme at Hancock, with some excellent high-grade intersections adding more confidence to our existing resource as well as assisting in our understanding of the high-grade units' spatial relationship in the ridge systems,’ CEO Bill Brodie says.

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GCM Resources PLC - Phulbari coal and power project in north-west Bangladesh - Raises £2.1 million in placing and subscription at 5.14 pence per share, 37% discount to Tuesday closing price. ‘The funds raised from the placing and the subscription will be principally be used for development capital on the company's high-quality coal resource of 572 million tonnes (JORC 2004 compliant) at the Phulbari Coal and Power Project (the ’Project‘) in north-west Bangladesh, and provide the company with sufficient funds to cover its corporate operating expenses through to Q2 2023,’ GCM says.

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AfriTin Mining Ltd - tin mining company which operates the Uis tin mine in Namibia - Says Lithium-bearing spodumene spotted at mining licence ML 129, near Uis tin mine. ‘This discovery is the first result of an extensive early-stage regional exploration programme,’ AfriTin says.

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Curzon Energy PLC - London-based energy company - Says Poseidon Enhanced Technologies further extends exclusivity period to April 1. ‘The parties continue to diligently work towards the execution and delivery of a definitive purchase agreement, contemplating a reverse takeover of Curzon by PET,’ Curzon adds.

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Southern Energy Corp - Calgary, Alberta-based producer of oil and gas assets in US south east Gulf States, including Mississippi and Alabama - Says proved developed producing reserves rise 9% in 2021. Total proved plus probable reserves up 73%. ‘The ongoing three well drilling program at Gwinville proceeding on schedule and on budget, with completion operations expected to begin in early April 2022,’ Southern Energy adds.

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Hummingbird Resources PLC - gold miner with projects in Mali, Liberia and Guinea - Receives further promising results from drilling at Kouroussa gold mine in Guinea. CEO Dan Betts says: ‘We continue to receive very high-grade drilling data from Kouroussa, which continues to strengthen our overall knowledge base and confidence of the asset's geology. These ongoing double-digit grade drilling results show we have an asset of significant gold endowment situated in the prolific Siguiri gold region.’

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Diurnal Group PLC - Cardiff, Wales-based pharmaceutical company focused on hormonal diseases - Receives US Food & Drug Administration feedback on native oral testosterone treatment DNL-0300. Diurnal explains: ‘In the latest feedback, the FDA has stated that Diurnal's Phase 1 study can proceed subject to a protocol modification, primarily relating to additional clinical safety data from the two lowest dose groups. Diurnal expects to file an amended protocol for the MAD study as soon as possible with a view to initiating dosing in H2 2022. DNL-0300 will remain on partial clinical hold until the revised protocol has been agreed with the FDA.’

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Apollon Formularies PLC - London-based medical cannabis pharmaceutical firm - Signs joint-venture deal with Tri-Medi Canna Pty Ltd, a South African medicinal cannabis firm. JV will see duo establish a South African company, Apollon SA Pty Ltd. ‘The joint venture represents Apollon's first international expansion, with the potential to reach over 350 million people in the Southern African Development Community,’ Apollon says. Tri-Medi, in order to ‘strengthen commercial ties between the parties’, will invest £300,000 in Apollon.

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Barkby Group PLC - Abingdon, England-headquartered company with businesses in real estate, consumer & hospitality and life sciences - Says Verso Biosense seals first clinical study in partnership with the University of Southampton and National Institute for Health Research. Trial relates to Usense, a tool to better inform professionals when treating female infertility. ‘The device was well tolerated by all participants who received the implant, while the temperature and dissolved oxygen data collected provided a unique insight into a physiological environment that is critical for embryonic development. This environment has never been continuously monitored before and the unprecedented data was rich in detail, showing both variation between patients and variation over time,’ Barkby says.

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Physiomics PLC - oncology consultancy based in Oxford, England - Wins pact with Ankyra Therapeutics, a Boston-based biotechnology firm, to improve safety and efficacy of cancer treatment. ‘Physiomics will be supporting Ankyra with modelling and simulation of ANK-101 in immune-oncology settings in support of its early development,’ Physiomics says. ANK-101 is Ankyra's lead molecule.

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MiLOC Group Ltd - Hong Kong-based pharmaceutical and beauty products - Selected for exclusive distribution rights by Crushmetric Ltd. Will distribute Crushmetric's designer products, including its Switchpen.

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Intuitive Investments Group PLC - closed-end investment company focused on life sciences - Raises £607,000 in subscription. Says 2.6 million shares fetch 22 pence each.

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Duke Royalty Ltd- Guernsey-based royalty finance provider - Makes £1.6 million follow-on investment in Tristone Healthcare Ltd to fund an acquisition. Tristone is acquiring Seaside Care Homes Ltd, a care home based in Essex, England.

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Schroder UK Public Private Trust PLC - London-based investment company - Invests £3.0 million in immunoglobulin E antibodies developer Epsilogen, as part of latter's wider £30.8 million fundraise.

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Osirium Technologies PLC - Berkshire, England-based cybersecurity firm - Continues to see new business wins, bringing the total number of new customers won in January and February 2022 to nine. Four of the contracts are of a greater value than any deal signed in 2021, it says.

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Tern PLC - London-based investment company focused on technology companies - To participate in Sure Valley Ventures UK Software Technology Fund alongside other investors, including British Business Bank. Tern adds: ‘Tern's participation in the New SVV Fund will provide the company with early-stage access to additional entrepreneurial technology businesses, in line with its strategy of developing synergistic IoT technology companies to generate shareholder value.’ Pires Investments PLC also invests in fund, as does Sure Ventures PLC.

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