Source - Alliance News

The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:


Surface Transforms PLC - UK-based manufacturer of carbon-ceramic automotive brake discs - Says it has agreed a £13.2 million loan deal with the Liverpool City Region Urban Development Fund, which is partly funded by the European Regional Development Fund. Says the loan will contribute to its £44 million investment programme. Says it will support investment in increasing sales capacity at its Knowsley site to £150 million per year in 2027, from £50 million in 2024. Adds that the facility will have an initial two-year drawdown period. Chief Executive Kevin Johnson says: ‘We are delighted to have secured this capital expenditure loan, that will enable us to execute our strategic growth plans and further strengthen our position as a leader in carbon fibre reinforced ceramic automotive brake discs. We want to thank our partners in the Liverpool City Region Combined Authority and Knowsley District Council for their support in securing this loan.’


Anglo Asian Mining PLC - Azerbaijan-focused gold, copper and silver producer - Says it has completed a maiden JORC mineral resource for its Gilar deposit. Says the deposit is confirmed to have 6.1 million tonnes of mineralisation, with average grades of 0.88% copper and 1.30 grammes of gold per tonne. Says average zinc grades were confirmed at 0.75%. Says the estimates correspond to 54,000 tonnes of copper, 255,000 ounces of gold and 46,000 tonnes of zinc. Chief Executive Reza Vaziri says: ‘We are proud to present the maiden mineral resource estimate for the Gilar deposit under the JORC reporting code, which marks a significant milestone for the asset and reflects our commitment to international best practice. It is a great step forward in understanding its geo-positioning, mineralisation geometry and importantly the significant value opportunity it offers our stakeholders.’


Spectris PLC - London-based supplier of high-tech instruments, test equipment and software for industrial applications - Says it has agreed to sell Red Lion Controls to HMS Networks for £286 million. Says the sale increases its total sale proceeds over the past five years to £1.2 billion. Says Red Lion has a book value of £105.5 million at June 30. Red Lion provides software and hardware solutions for ethernet and data visualisation. Chief Executive Andrew Heath comments: ‘Since 2019, we have transformed Spectris into a higher-quality, more resilient business, focused on attractive markets benefiting from a number of structural growth trends. Following today’s announcement and with Servomex being reported as part of Spectris Scientific, we have two great premium precision measurement businesses with attractive growth trajectories, aligned to markets with a strong sustainability focus. I would like to thank the whole Red Lion team for their contribution to Spectris and wish them all well for the future.’


Golden Metal Resources PLC - strategic mineral exploration and development company focused on Nevada, US - Says Garfield project in Nevada shows high-grade copper, silver and gold assays. Says results included 23.92% copper, 27.2 grammes of gold per tonne and 29.9 grammes of silver. Adds that the results exceeded its expectations. Chief Executive Oliver Friesen says: ‘I have been involved with many exploration projects in my career, including many Cu-Au-Ag porphyry projects, and it is very rare to see one move up the potential value curve so quickly. My ultimate goal as CEO is to ensure that the projects in our portfolio become increasingly attractive with each incremental exploration dollar spent.’


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