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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Blencowe Resources PLC - miner focused on developing the Orom-Cross graphite project and Akelikongo nickel project in Uganda - Says exploration program for Akelikongo is underway. This includes re-analysis of existing database from previous work to consider all geochemical samples and previous drilling information. Focus will be on a substantial electromagnetic program to identify new drilling targets. ‘Our team has hit the ground running on Akelikongo and work has already commenced to plan the necessary airborne and other surveys to identify new drill targets,’ says Chair Cameron Pearce.
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Rockfire Resources PLC - gold and base metal exploration company - Says 100% owned Copperhead deposit in Queensland, Australia, has delivered a maiden JORC mineral resource of 120,000 tonnes of copper equivalent. Says the mineral resource remains open to the north, east, west and at depth, leaving scope for significant, further resource increases. Adds that the extent and tenor of mineralisation at Copperhead have yet to be fully tested.
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Contango Holdings PLC - natural resource development company with operations in Africa - At Lubu coking coal project, Zimbabwe, civil works and infrastructure upgrades ongoing with mining operations and first production to begin from end of March. Also in discussions with off-takers for both coking coal and coke. For Garalo-Ntiela gold project, Mali, there is a site visit with strategic investors scheduled in the coming weeks and the company is finalising drill programme to prove up targeted resource of 1.8 million ounces to 2 million ounces of gold.
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Atome Energy PLC - green hydrogen and ammonia production-focused company - Announces first order of a 1 megawatt electrolyser for its Paraguay transport business from the UK hydrogen and technology company CPH2. Anticipates further orders by Atome Mobility. ‘After a thorough due diligence, partnering with CPH2 for the supply of their 1MW electrolyser which is being manufactured in the UK, made perfect commercial and operational sense for our own project. Their technology has significant advantage inter alia on scalability and the ability to be deployed quickly. We have likewise been impressed by the expertise and transparency of the CPH2 management,’ company says.
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Shield Therapeutics PLC - Newcastle, England-based pharmaceutical company focused on iron deficiency oral product Accrufer - Announces that Kye Pharmaceuticals Inc, with which it has an exclusive license agreement, has submitted a new drug submission to Health Canada for the regulatory review and approval of Accrufer. If approved, Accrufer would be the first prescription only oral iron therapy approved by Health Canada. Marketing approval for Accrufer is expected to be during first half of 2023. Shield is eligible to receive £850,000 in development and sales milestones comprised of a payment of £250,000 upon regulatory approval of Accrufer by Health Canada and up to £600,000 in milestone payments upon the achievement of specified calendar net sales targets.
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Tufton Oceanic Assets Ltd - Guernsey, UK-based investment company focused on second-hand commercial vessels - Announces acquisition of handysize bulker for $25.5 million. The vessel has a fixed rate time charter of nine to twelve months producing a net yield of 25%. It is in the top quartile of fuel efficiency in its market segment. ‘Nonetheless it will be evaluated for further improvement, including the retrofit of energy saving devices,’ company says.
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Inland Homes PLC - housebuilder and regeneration specialist focused on South and South East of England - Sells Phase 1B at Cheshunt Lakeside via its joint venture Cheshunt Lakeside Developments Ltd for £56.4 million. Phase 1B at Cheshunt Lakeside comprises 205 plots. Sale will go to build to rent operator London BTR Investments. Proceeds from the land sale were used to reduce the joint venture company’s borrowings and the build contract has increased the forward order book.
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Induction Healthcare Group PLC - London-based hospital IT systems provider - Announces NHS Scotland and the Scottish Government contracts for the provision of remote consultation solutions have been renewed, securing £2 million of annual recurring revenues. ‘Induction remains on course to deliver very significant revenue growth this year in line with market expectations. We fully expect to see this exciting growth continue into the new financial year. These contract renewals are the first positive milestones in our renewal strategy and set out the pattern we expect to see across a very high proportion of our existing contracts in England,’ company says.
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Trident Royalties PLC - London-based mining royalty and streaming company with projects in countries ranging from Peru to Canada - Enters into an agreement to acquire a gold offtake contract over the Sugar Zone mine in Canada, owned and operated by Silver Lake Resources Ltd, from Orion Resource Partners for $3.8 million. Payment will take form of share issuance at 51.43p per share, being the 10-day volume weighted average price of Trident’s shares to March 18. The offtake covers 50% of all gold production at Sugar Zone up to 375,000 delivered ounces, with around 335,000 ounces remaining under the offtake.
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