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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Watkin Jones PLC - London-based student accommodation developer and manager - Says revenue in half year ended March 31 ahead of prior year's £178.4 million, as expected. However, gross profit and operating profit will be below prior year's £41.3 million and £29.1 million, respectively. Watkin Jones says higher proportion of land sales during period means lower margins. Watkin Jones generates £55 million in three land sales during half, up from nil a year ago. Also notes planned sale of purpose-built student accommodation portfolio. Company adds: ‘The business continues to proactively manage inflationary price rises experienced in the period for both asset values and construction costs. This has involved a number of 'open book' discussions with purchasers during the sales process. Whilst this has in certain cases lengthened transaction timeframes, to date we have been able to successfully maintain our margins.’

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BlueRock Diamonds PLC - diamond producer focused on South Africa - Says carats produced in first quarter rises 32% annually to 4,643 from 3,507. Carats sold up 47% to 5,887 from 4,004, with price per carat surging 54% to $686 from $446. Recovers four large stones in March, in addition to four in February and one in January. Eyes output of 36,000-43,000 in 2022, up from 23,497 in 2021. Tips value per carat to dip to $450 in 2022, from $470 in 2021. However, expects revenue to rise to between $16 million and $19 million from $10.8 million in 2021. For 2023, it targets output of 43,000 carats, with value per carat at $450 and revenue of $19 million.

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SolGold PLC - Brisbane, Australia-based developer of copper-gold deposits in Ecuador - Says Tandayama-America, or TAM, porphyry copper-gold deposit in Ecuador has ‘additional resources’ which enhance wider Cascabel property. A mineral resource estimate for TAM is underway. ‘The assay results from holes 19-40 extend mineralisation potentially mineable by both open pit and underground bulk mining methods and suggest capacity for resource growth. Mineralisation remains open both along strike north and south, and at depth in the southeast,’ SolGold says.

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Egdon Resources PLC - UK-focused oil & gas exploration and production company - and Union Jack Oil PLC - Bath, England-based oil and gas company with operations across the UK - Note Egdon, as operator of PEDL253 licence, submits appeal against refusal of planning permission by Lincolnshire County Council for side-track drilling work for Biscathorpe site. Egdon holds just under 36% stake, while Union Jack holds a 45% economic interest.

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East Star Resources PLC - gold and copper exploration company focused on Kazakhstan - Says 22 targets highlighted for follow up work after completing processing of drone magnetics flown between July and October 2021 at Apmintas asset. ‘Majority of targets represent structural settings for classic orogenic gold mineralisation including duplex structures, flexures and step-over zones along second and third order structures,’ East Star says. ‘Follow up work is planned for infill soil sampling and close spaced ground magnetics to refine targets prior to drilling in Q2 2022.’

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Amur Minerals Corp - natural resources explorer with assets in far-east Russia - Confirms that it is in talks to sell its subsidiary Irosta Trading Ltd - Notes no individual or entity tied to company's AO Kun-Manie mine have been sanctioned in any round of EU, UK and US sanctions against Russia. Mine is in the far east of Russia. Also notes flow of funds supporting AO Kun-Manie continue and company has now ensured sufficient cash reserves for the subsidiary covering budgeted costs through the first half 2022. Previously, AO Kun-Manie funds have been delivered to cover a 30 to 45 day period. Does say, however, company's lead legal consul representation in Moscow, Bryan Cave Leighton Paisner, is suspending operations within Russia. Company is reviewing options for lead Russian legal representation.

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Cobra Resources PLC - Wudinna gold project in South Australia - Granted exploration tenement east of Wudinna asset. ‘The tenement complements the company's existing strategy, with the newly acquired ground considered highly prospective for gold and ion adsorption clay hosted rare earth mineralisation,’ Cobra says.

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Cloudbreak Discovery PLC - Vancouver-based natural resource project generator - Enters into deal with Ultimate Resources Canada Ltd and Masterstroke Investments Pty Ltd for submission of petroleum development agreement in block 2019, Namibia, an early stage regional exploration target. Cloudbreak will act as financial partner, sitting on joint-operating committee. It will provide $70,000 financial guarantee to Ministry of Mines & Energy in Namibia for first phase of exploration. In exchange, Cloudbreak to be granted 20% interest in Prosper Africa Resources Ltd, the holding entity negotiating for block 2019. ‘Additionally, Cloudbreak is granted a right to participate in all future equity offerings in Prosper for up to 10% of the offering,’ company adds.

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Castillo Copper Ltd - base metal explorer focused on Australia and Zambia - Reports new cobalt assays for Fence Gossan and Ziggy's Hill prospects at east zone of BHA project. Assays show signs of ‘extensive cobalt system’. Managing Director Dennis Jensen says: ‘The Fence Gossan prospect assays are outstanding and provide the board with increased confidence there is potentially a significant underlying cobalt system within the BHA project's east zone.’

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Mobile Streams PLC - London-based mobile content provider - Signs deal with Fanzine Ltd to become Fanzine's exclusive producer of non-fungible tokens. Mobile Streams explains: ‘Fanzine produces sites that enable sports fans to find all the news, social, stats and betting content for their team. Fanzine currently operates 41 club-specific premium domains covering the top clubs in Football, NFL, NBA, MLB and Cricket including such examples as Gunners.com, COYS.com, TheKop.com, UnitedReds.com and Celtic1967.com.’

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MaxCyte Inc - Maryland-based platform for cell-based research - Says revenue for first quarter to be at least $11.0 million, up from $6.5 million year-on-year. In addition, company says Amanda Murphy resigns from chief financial officer post, effective Friday. Murphy to ‘pursue other interests’. Ron Holtz, chief accounting officer, named interim CFO.

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PureTech Health PLC - Boston, Massachusetts-based clinical-stage biotherapeutics - Says founded entity Vedanta Biosciences reports data on VE303, a candidate to prevent recurrent clostridium difficile infection, a bacteria which can cause diarrhoea. VE303 was associated with a 31.7% reduction of risk in rate of recurrence, in comparison to placebo. It represents 80% reduction in the odds of a CDI recurrence, FTSE 250-listed PureTech says. ‘Vedanta believes VE303 has the potential to become a first-in-class therapeutic based on a rationally defined bacterial consortium,’ company adds.

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Distil PLC - London-based premium drinks retailer - Launches TV advertising campaign for RedLeg rum brand. ‘The first TV advertising campaign for the brand launches 14 April 2022 on ITV channels, showcasing the brand's signature vanilla and ginger spiced rum and bringing to life the iconic Red Legged Hermit Crab which lends the brand its name,’ Distil says.

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