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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Griffin Mining Ltd - operator of the Caijiaying zinc-gold mine in China - Says since recommencement of operations, mining and processing rates have steadily increased. Despite Covid-19 restrictions remaining in force throughout China, operational supplies and services continue to be delivered to the Caijiaying mine, it says. It processes 8,649 ore tonnes in 3 months to March 31, up from 200,209 tonnes year-on-year. Since the end of the first quarter of 2022, 4,000 tonnes of zinc concentrate have already been sold, it adds.
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Aura Energy Ltd - Australia-based minerals company with polymetallic and uranium projects in Europe and Africa - Says it has entered into contracts for a 10,000 metre drilling program at Tiris, which is set to commence in May. Explains the programme aims to increase the proportion of measured and indicated resources from 34% of total resource estimate to more than 50%. Notes that the programme will represent the ‘largest single drilling programme’ completed on the Tiris deposits by Aura. The infill drilling program is expected to be completed in third quarter and resource upgrade early in the fourth quarter, it adds.
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UniVision Engineering Ltd - Hong Kong-based firm which installs closed circuit television surveillance systems - Notes court hearing for winding up petition which was set for Tuesday was moved, with new date yet to be agreed.
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Woodbois Ltd - Guernsey-based timber producer - For three months to March 31, revenue rises 22% to $5.6 million from $4.6 million the year before. Woodbois says this first quarter has been the best quarter for product shipping volumes since onset of the pandemic. In addition, says Chair Paul Dolan has stepped down from position and has assumed role of chief executive. Further, it says Federico Tonetti, former CEO, will shortly be leaving the company, while Non-Executive Director Graeme Thomson has been named non-executive chair.
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Lekoil Ltd - oil and gas exploration and production company focused on Nigeria and West Africa - For March, gross oil production at Otakikpo field located in offshore Nigeria amounted to 4,448 barrels of oil per day.
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IDE Group Holdings PLC - Edinburgh-based network, cloud and IT managed services - Says short-term loan of £1 million from MXC to IDE which was due on March 31 has not been paid. As such, the short-term loan has now adopted the same terms as the loan notes announced in January 2019. Says this brings the total potential indebtedness via loan notes once matured to a total of £25.9 million. All loan notes remain covenant free. MXC has begun exploratory conversations with IDE Group, with a view to converting its loan notes into equity, it adds.
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Grit Real Estate Income Group Ltd - pan-African property investment and management - Says it has acquired Gateway Partner’s 31% interest in APDM for $7.6 million and acquired Gateway’s additional 6.2% holding in GREA for $13.9 million. Following the transactions, Grit has acquired a 78% controlling interest in APDM and increased its interest in GREA to 26.3% with a clear path for Grit to purchase a controlling shareholding in GREA by December 2022.
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Oriole Resources PLC - London-based gold exploration company focused in Cameroon and Senegal - Says the start of 2022 was busy with progress on projects in Cameroon and confirmation from Iamgold Corp of the completion of the first phase of earn-in in Senegal. It also saw refocussing of its Turkish operations and completion of the annual report, which Oriole says has enabled the early submission of the 2021 research & development tax claim.
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