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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Ajax Resources PLC - special purpose acquisition company with a focus on natural resources - Pretax loss in the six months to August 31 widens to £97,876 from £79,625, as administrative expenses jump to £97,876 to £79,625.

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Honye Financial Services Ltd - Cayman Islands-based company seeking acquisitions in financial services and financial technology - Pretax loss for the year which ended July 31 narrows to £294,632 from £813,088, as administrative expenses fall to £487,555 from £813,088. Explains that the increase in costs primarily reflects ‘the day-to-day administrative expenses and due diligence into prospective targets’. Remains optimistic about a positive outcome for the acquisition of Zoyo.

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Contango Holdings PLC - natural resource development company with operations in Africa - Starts the initial mining at its Lubu project at the end of the first quarter of 2022 and reports further development at site post-period in Zimbabwe. Says its focus will remain on an initial 10,000 tonnes of production per month before further ramping up to 300,000 tonnes per yer in 2023. ‘Excellent progress at site continues to be made in expectation of delivery of the wash plant and surface miner. Moreover, we are fully capitalised and well-funded to meet our objectives. This is also providing a very strong position in our ongoing discussions with additional off-takers and I would expect to provide an update on this in the near term,’ Chief Executive Officer Carl Esprey comments.

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Pioneer Media Holdings Inc - Vancouver-based technology incubator focused on non-fungible tokens - Pretax loss in the year ended May 31 amounts to £2.1 million, widening from £729,837 the year before. Records revenue of £481,605, up from no revenue in the comparable year. This can be attributed to a rise in total costs. Says it will focus on bringing more games to market to drive user engagement and adoption and therefore meaningful revenue generation.

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Tern PLC - investor focused on the internet of things - Says its investee Wyld recorded total income of SEK933,000, or £73,715 in the third quarter of 2022, up from SEK726,000 a year before. Records of a loss per share of SEK0.87 versus SEK0.93. Says that Wyld Networks signed five additional partnerships with ATSS, Khomp, IoTMaxi, British American Tobacco, and Miromico.

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Mode Global Holdings PLC - London-based fintech with a bitcoin banking app - Gets and accepts conversion notices, which results in the conversion of £113,932.96 principal amount of the loan notes at an average conversion price of £0.0207 per share. This results in the issuance today of 5.1 million new ordinary shares.

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Thor Explorations Ltd - Vancouver-based mineral explorer with assets in west Africa - Records gold production of 26,523 ounces for the period from the Segilola gold mine located in Nigeria. Reports revenue from gold sales for the quarter of $55.7 million and net profit of $4.1 million. Says the production guidance for 2022 is 90,000 to 100,000oz of gold. Expects drilling programmes at the Segilola open pit to resume in the first quarter of 2023. ‘Our relationship with the communities surrounding Segilola remains strong, whilst we continue to develop the project and explore the surrounding areas it is important to also develop the local communities and bring equal benefit to the region,’ President & CEO Segun Lawson says.

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Scholium Group PLC - London-based rare books, arts and collectables - Pretax profit for the six months to September 30 grows 33% to £179,000 versus £135,000 a year before. Revenue rises 16% to £4.5 million from £3.8 million. Attributes this to significantly higher sales in Shapero Rare Books. Plans to focus on its two profitable businesses, rare books and modern prints. ‘We are pleased with the continuing steady progress made by the group in recording its third consecutive profitable half-year period,’ Chair David Harland comments. ‘On-going geopolitical events present a difficult environment in which to plan but we remain cautiously positive about the coming six-month period.’

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