Source - Alliance News

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


Tertiary Minerals PLC - mineral exploration and development company focused on energy transition metals with projects in the US and Zambia - Notes the article in the Financial Times on Monday, regarding KoBold Metals’ Mingomba copper project. It is reported that KoBold now believes that the Mingomba project will become one of the world’s top three high-grade copper mines. The article reports that KoBold aims to start producing copper at the $2 billion mine by the early 2030s. Points out the Mingomba project is located around two kilometres northeast of Tertiary’s Konkola West project, where KoBold has signed a definitive earn-in agreement. Notes, as announced in December, KoBold is planning to drill test the projected down dip extensions to the copper ore-shale which hosts its new discovery and which is also mined at the adjacent Konkola Copper Mine. KoBold is committed to drilling at least two deep drill holes at Konkola West in the coming months.


Galantas Gold Corp - miner in Northern Ireland and Scotland - Announces the closing of the previously announced debt settlement transaction under which it settled $2.7 million of debt owed to Ocean Partners UK Ltd, through the issue of $2.7 million of unsecured convertible debentures. The debentures are subject to a four-month hold period.


NB Distressed Debt Investment Fund Ltd - Guernsey-incorporated closed-ended fund managed by Neuberger Berman - Ordinary share net asset value rose to $0.8011 at December from $0.7935 at the end of September. The 1% increase primarily reflected a small increase in a containers & packaging investment. Fund has three class of shares - including extended life and new global shares. Extended life share NAV eased 0.2% in the quarter to $1.0258 from $1.0281 at the end of last quarter. The fall was driven by a small decline in value of an auto components investment. Global share NAV fell 4.1% to 62.4 pence from 65.0p principally driven by a decrease in value of a lodging & casinos investment.


Celsius Resources Ltd - explorer focused on portfolio of copper-gold resources in the Philippines - Announces an updated Joint Ore Reserve Committee compliant mineral resource estimate for the Sagay Copper Project in the Philippines. Reports a combined measured, indicated and inferred mineral resource of 312 million tonnes at 0.39% copper and 0.11 grammes per tonne gold. The global resource remains largely unchanged with around 1.2 million tonnes of contained copper and around 1 million ounces of contained gold. Notes mineralisation exists from near surface down to over 1.2 kilometres depth with strike lengths up to 1 kilometre and true widths extending into the hundreds of metres.


EDX Medical Group PLC - Cambridge, England-based company that develops digital diagnostic products and services to treat cancer, heart disease, and infectious diseases - Approves the issue of 33.4 million shares at 12 pence each to raise £4.0 million. Explains the issue is the initial element of a fundraising round to support the acceleration of the development of new diagnostic products to help meet global demand from healthcare providers delivering personalIsed treatments. Founder Sir Chris Evans invests £750,000 as a result of subscribing for 6.3 million shares at the subscription price. Intends to raise further capital in this round. In talks with other shareholders and potential new investors about participation in the subscription, which will remain open until February 19.


LondonMetric Property PLC and LXi Reit PLC - UK real estate companies - Both call General Meeting for February 27 to discuss all-share merger between the two. Scheme to approve merger is also expected to be put before the Court on that date. If scheme is approved by the Court and shareholders it is likely to become effective on March 5.


Smartspace Software PLC - Bury St Edmunds, England-based designer and builder of smart software solutions - Extends put up or shut up deadline for Skedda Holdings Inc to make a bid for the company until February 19. In December, Smartspace said it had received a conditional bid worth 82 pence per share from Skedda. Talks between the two companies continue.


Powerhouse Energy Group PLC - Bingley, England-based non-recyclable waste-to-energy conversion firm - Further to statement in November, the company has been informed that GetGo Recycling Ltd (now Onunda Ltd) served on February 2 the High Court claim it originally issued on October 6 2023. Plans to fully defend itself in proceedings. Issue relates to a patent claim which Powerhouse says is ‘entirely without merit’.


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