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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Nanoco Group PLC - Manchester-based nanomaterial developer and manufacturer - Lifts annual revenue outlook. Signs work package for an ‘important European electronics customer’, following on from four previous deals with the same customer which were delivered over past two years. The latest deal began on May 1 and will last one year. Monthly revenue run-rate for deal is equivalent to figure delivered for prior year pact. ‘Additionally, the working capital arrangements in the contract support Nanoco establishing a more robust supply chain of raw materials,’ Nanoco adds. As a result, it says it now expects to exceed recently increased revenue expectations for year ending July 31. In addition, company on Monday says it plans to raise £2.3 million in placing and subscription of 6.1 million shares at 37 pence each.
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Seeing Machines Ltd - Canberra, Australia-based driver monitoring technology firm - Appointed by ‘tier-1 customer’ to deliver FOVIO driver monitoring system to a European carmaker. ‘The program has been awarded with certain minimum volume guarantees, covering a number of vehicle models with start of production scheduled from early 2024,’ Seeing Machines says. It has an initial value of A$27 million, about £15.5 million. It brings total OEM customers to 10.
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Caracal Gold PLC - gold producer with operations in East Africa - Says second batch of sample assay results from drilling programmes at Kilimapesa Hill deposit in Kenya confirm strike and depth of mineralisation, with ‘strong gold grades, consistent with expectations’. ‘An updated resource from Kilimapesa Hill is expected at the end of Q2 2022,’ Caracal Gold says.
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Savannah Energy PLC - Energy company focused on Africa - Says 80% indirectly owned subsidiary Accugas Ltd enters new gas sales pact with TransAfam Power Ltd. Accugas will provide 35 million standard cubic feet per day of gas at TransAfam power plants in Nigeria.
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Bens Creek Group PLC - London-based mining company focused in North America - Begins railroad delivery of ‘High Vol B’ coal product to offtake partner Integrity Coal Sales Inc. ‘Initially, the Company had been supplying Integrity with run of mine coal via truck, whilst it completed the remediation of the wash plant and railway spur line,’ Bens Creek adds. ‘This initial rail delivery of 11,000 tonnes of the company’s HVB product, via its ’fast flood’ rail loadout facility, commenced on 1 June 2022 and is expected to be followed by further rail deliveries of a similar quantum during the coming weeks.’ Bens Creek also says loan terms with lender MBU Capital Group Ltd have been changed. The conversion price for any drawn amounts have been lifted to 60 pence per share from 15p. As at June 5, a total of £7.3 million was drawn down by Bens Creek, of which £5.0 million is possible for conversion at 60p per share.
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Prospex Energy PLC - exploration investment company with core investments in Spain and Italy - Receives second-to-last approval at Podere Maiar gas field in onshore northern Italy. It lies with Selva Malvezzi production concession. Prospex holds 37% working interest in Podere. The Emilia Romagna Regional Council backs a local government production agreement, a prerequisite before the larger Ecological Transition Ministry of Italy can grant final approval. ‘The company expects first gas from Podere Maiar in the first half of 2023, subject to final approval,’ Prospex says.
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CleanTech Lithium PLC - Jersey-based lithium exploration and development company focused on Chile - Says Laguna Verde project encounters ‘greater drilling depths and was longer than planned’, noting a 43% increase in aquifer thickness compared to geophysics model. It bodes well for a ‘resource upgrade’, the company says. Chief Executive Aldo Boitano adds: ‘We are very pleased with the increased aquifer depth encountered and the first batch of brine assays from Laguna Verde, which include a number of high lithium grades which provide an important target for further drilling. We look forward to updating the market with further results in due course. We are confident this will lead to an upgraded JORC resource at Laguna Verde and a maiden resource at Francisco Basin, which we are targeting for early July.’
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Rainbow Rare Earths Ltd - rare earth element mining in Burundi, East Africa - Enters into deal with a ‘diversified chemicals group based in South Africa’. Duo will investigate opportunity of extracting rare earth elements from a nitro phosphate process stream from a plat near Johannesburg. Rainbow Rare will conduct a rare earths extraction pilot study and a technical programme to confirm a flowsheet will follow. ‘Direct costs associated with the pilot study conducted by Rainbow using its exclusive IP and technology will be financed by the chemicals group. Subject to a successful outcome, the parties intend to negotiate terms for a potential joint venture agreement to extract value from the rare earths present in the phosphoric acid processing stream,’ Rainbow Rare adds.
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Empire Metals Ltd - minerals exploration and development in Australia - Says is fast-tracking next reverse circulation drilling campaign at Eclipse-Gindalbie gold project in Australia. The programme will consist of 26 drill holes and will begin in mid-June. Empire adds: ‘Drill campaign will focus on the most prospective targets within the Eclipse-Gindalbie project area, including Homeward Bound which has previously delivered very high-grade intercepts.’
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Panthera Resources PLC - London-based gold exploration and development company with assets in Africa and India - Begins drilling programme at Bassala project in Mali. The 5,000 metre campaign consists of 57 air core holes and 21 reverse circulation holes. ‘Assay results are expected during quarter three of 2022,’ Panthera adds.
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Gfinity PLC - London-based e-sports and gaming - Extends relationship with Formula 1 to deliver F1 Esports Series for further year.‘ Company adds: ’In 2022, Gfinity will deliver the Pro Exhibition from the Formula 1 Lenovo British Grand Prix 2022 and the Pro Championship, the pinnacle of F1 Esports. Gfinity will also provide adjudication services to Codemasters for the 2023 Challenger Series. Full details of the 2022 season format will be announced in due course.‘
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Brave Bison Group PLC - London-based social and digital media marketing company - Signs two new ’significant‘ contracts with a total of £1.7 million. Contracts were won across its social media advertising practice and also digital commerce arm. Brave Bison explains: ’Brave Bison Social & Influencer has entered into a new engagement with a multi-billion-dollar global fintech company to provide influencer marketing services. Brave Bison Commerce has entered into a new engagement with a leading UK office and stationery supply store to provide ecommerce technology services.‘ Adds: ’In addition to the contracts, Brave Bison has now won a total of 16 new customers since the acquisition of Greenlight in September 2021, including Avalara, Feefo, Paperchase, Lloyds Direct, Autoglym, MKM and World Economic Forum.‘
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