Kodal Minerals PLC (LON:KOD) has lined up a collaboration agreement with Chinese engineering firm Sinohydro to work on the company’s Bougouni lithium project in southern Mali. The two parties have signed a memorandum of understanding (MoU) to work together to develop the project. Sinohydro is a subsidiary of state-owned PowerChina. It has undertaken a number of large and high-profile engineering and construction projects in Mali and continues to be active in large government infrastructure projects and private commercial developments.
Location Sciences Group PLC (LON:LSAI) revealed it has signed up the first customer to its Verify Audience platform. InMarket, a US company specialising in consumer activity intelligence, will use the marketing tool to verify local audiences and campaigns across different media channels. Verify allows brands, agencies and suppliers to validate the real-time locations of mobile devices as digital advertising campaigns are delivered.
AFC Energy PLC (LON:AFC) revealed it has secured a contract for the sale of a bespoke 100 kilowatt H-Power alkaline fuel cell system to Forschungszentrum Jülich, one of Europe’s largest research centres, for deployment at its Living Lab Energy Campus (LLEC) showcase in Germany. The AIM-listed hydrogen power technology specialist said the initial transaction value of the deal also comes with additional trailing payments receivable under a long term services agreement over the life of the project. The LLEC is funded predominantly by the German government and is designed to provide a blueprint for sustainable, decentralised and integrated smart infrastructure with an emphasis on renewable and hydrogen technologies.
CentralNic Group PLC (LON:CNIC) has reported higher earnings and “record organic growth” in the first half of its current year despite the coronavirus pandemic. For the six months ended June 30, 2020, the internet domain name specialist reported adjusted underlying earnings (EBITDA) of US$15.1mln, up 64% year-on-year, while revenues surged by 124% to US$111.3mln. The company said it has seen “healthy demand” for its two largest service lines, wholesale domains and monetisation, during the period, with the latter driven by the rollout of its patented monetisation solution for secure socket layers (SSL), protocols for web browsers and servers that allow for the authentication, encryption and decryption of data sent over the internet.
Eden Research PLC (LON:EDEN) said its collaboration partner has won authorisation from the Spanish authorities for the biopesticide, Cedroz. The product, which has been developed to tackle infestations of microscopic, soil-dwelling parasites called nematodes, has been approved for both glasshouse and open field uses on tomatoes, cucumbers, zucchini, pumpkins, strawberries and melons, as well as glasshouse use on peppers and aubergine. It will be sold by the Eastman Chemical Company and is Eden’s second crop protector to receive the regulatory green light in Spain. A key territory, the country is the largest producer of fruit and veg in the EU.
Greencoat UK Wind PLC (LON:UKW), the FTSE 250-listed specialist wind farm investor, said it has agreed to acquire SSE’s 25.1% interest in the Walney I and II offshore projects for £350mln. Walney is located nine miles off the Cumbrian coast and has a capacity of 367Mw. Greencoat said it will fund the purchase from its £400mln acquisition facility, which will push total borrowing up to £980mln or 35% of gross asset value.
Frontier IP Group PLC (LON:FIPP) has said one of its portfolio companies is to launch a patent reader product commercially. Elute Intelligence Holdings Limited, in which the intellectual property commercialisation specialist has a 43.5% equity stake, is to bring the product to market after a successful pilot with a dedicated user group comprising members from multinationals, high-tech small and medium-sized enterprises and professional intellectual property service providers. The patent reader allows users to identify relevant patents and understand why they are relevant within minutes of starting a search.
BlueRock Diamonds PLC (LON:BRD) said a 12.12 carat diamond recovered from its Kareevlei diamond mine in South Africa in July has been valued at US$104,000. “This is our fifth diamond recovered with a value of above US$100,000. Now that we are operating in pure Kimberlite again following the development of KV Main we expect an increasing incidence of higher value diamonds”, BlueRock executive chairman Mike Houston said in a statement.
Immotion Group PLC (LON:IMMO) said trading has “continued to be encouraging” across its sites that have operated over the summer period. In a trading update, the ‘out-of-home’ virtual reality firm noted that it currently has 16 partner sites operating its attractions, and has also traded at four of the ImmotionVR sites throughout the summer. The ImmotionVR sites have all traded strongly and have generated a profitable contribution despite limited opening times, the company said, noting that whilst visitor numbers are “generally down” in its partner sites due to coronavirus-related restrictions, average revenue per headset has been “encouraging” despite the lower footfall. In a separate statement, Immotion Group also announced that all resolutions proposed at Tuesday’s annual general meeting were duly passed.
Next Fifteen Communications Group PLC (LON:NFC) said it has acquired Mach49, a Silicon Valley-based growth incubator for global businesses, which will become the “cornerstone” of its plans to create a US$100mln revenue innovation business to work alongside its marketing businesses. “Mach49 has pioneered a repeatable, scalable, customer-centric approach that enables global businesses to leverage the strength of their talent, assets, competencies, brands, channels and customers to build their own incubators and growth engines. This approach, developed and codified over many years, has resulted in a consistently high success rate getting clients’ ventures to market, a performance that places them as one of the leading venture builders in the world”, the company said in a statement.
Savannah Resources PLC (LON:SAV) has agreed to sell its copper projects in Oman to Australian firm Force Commodities Ltd (ASX:4CE). Force will issue 50mln shares to Savannah and has agreed to the preferential payment of A$3.5mln of a loan, funded via cash flow generated from production on Block 5 of the project. Savannah will also receive a 1% net smelter royalty on metal sales. David Archer, Savannah chief executive said in a statement: “The divestment allows us to retain exposure to the upside of the projects through the shareholding in Force, together with a loan and royalty payable when the projects go into production”.
Avation PLC (LON:AVAP), the aircraft leasing company, has played down the impact of Virgin Australia going into administration. Avation had a total of 13 aircraft on lease to Virgin Australia when it entered administration. These included six ATR72-500 aircraft, five ATR72-600 aircraft and two Fokker 100 jet aircraft. Since the airline went into administration, Avation said it has entered into new lease arrangements for five of these aircraft, including finance leases for the sale of the two Fokker 100 aircraft, operating leases for two ATR 72-500s with a new airline customer in Australia and a five-year operating lease for an ATR72-500 aircraft with a new airline customer in Asia. The three remaining ATR72-500s have been returned to Avation and are now undergoing maintenance.
W Resources PLC (LON:WRES) has updated investors on the amendment to a loan facility provided by BlackRock Financial Management Inc. The mining firm said the two companies have now finalised and executed an amendment agree to allow payment of interest by payment in kind (PIK) for the May, August and, at W Resources option, the November interest payments this year. The firm added that under the agreement 96mln warrants of W Resources will be issued for the May 2020 PIK payment, while warrants equal to 2% of the fully diluted capital of the company will be issued for the August 2020 PIK payment. W Resources can also make the November 2020 PIK interest payment for the issue of warrants equivalent to 3% of its diluted capital.
Solo Oil PLC (LON:SOLO) chief executive Tom Reynolds told shareholders in the company’s full-year results statement that they will be prioritised as oil and gas junior explores its options for its portfolio in Tanzania. The comment comes ahead of the group’s relaunch under the new name of Scirocco Energy PLC and its positioning towards the European energy market. The proposed name change will be voted on at an AGM on September 25.
Strategic Minerals PLC (LON:SML) has flagged a delay of ‘a few weeks’, in the ongoing permitting process for the Leigh Creek copper mine. The company, in a statement, noted that the planned lodgement of updated information to the draft Program for Environment Protection and Rehabilitation (PEPR) is delayed, to allow the upgrade of the documentation. It previously anticipated the submission by the end of August and the updated approach was recommended to the company by its consultants, which suggest that it will “open the way” to approval before the end of the year.
San Leon Energy PLC (LON:SLE) has agreed to a new US$7.5mln investment into the Oza oil field, in Nigeria, via a loan agreement with Decklar Petroleum, a subsidiary of Asian Mineral Resources (CVE:ASN). Decklar has a risk service agreement with Millenium Oil and Gas, giving it a majority share of production and cash flow from the Oza field – which was historically operated by Shell, between 1959 and 1974, albeit despite two periods of extended production tests it never reached commercial-scale production. The agreement sees San Leon take a 15% interest in Decklar initially, potentially rising to 30% with a further subscription alongside the subsequent funding. San Leon will be allocated one seat on the board of Decklar.
Metal Tiger PLC (LON:MTR) said it has invested around £165,000 for a 0.5% stake in Canyon Resources Limited (ASX:CAY), an Australian-listed firm focused on developing the Minim Martap bauxite project in Cameroon. The AIM-listed investment company said it subscribed for 3mln shares in Canyon at a price of A$0.10 each as part of Canyon’s fundraise of A$10mln. In a separate announcement, Metal Tiger also said it has signed a binding commitment to invest a further A$150,000 (£82,748) in Pan Asia Metals Limited, taking its total commitment to A$650,000 (£358,576), for 3.25mln new shares at A$0.20 each as part of Pan Asia’s proposed initial public offering (IPO) on the ASX. Assuming Pan Asia raises the maximum contemplated amount of A$6mln (£3.3mln) through its IPO, Metal Tiger said it will hold just over 8% of the company on admission to the ASX.
Metal Tiger also announced the appointment of Adrian Bock as full-time chief financial officer, with effect from today. He will take over the role from Malcolm Bacchus who has been employed on a part-time basis and will remain with the company for two months to assist with the transition.
Landore Resources Ltd (LON:LND) told investors that a new drill programme is slated to start in October at the BAM Gold Deposit, Junior Lake property, in Canada. The programme is expected to comprise 14,000 metres, is fully funded and is intended to complete in March. It will involve resource and extension drilling, it will test the depth potential and evaluate an exploration target.
SigmaRoc PLC (LON:SRC), the quarrying and building materials group, has said it will acquire the remaining 60% it does not already own of South Wales-based GDH. The consideration is £7.5mln, to be funded by cash, with completion expected on or around September. SigmaRoc noted that it expects the acquisition to be significantly earnings enhancing. GDH operates 17 production facilities producing asphalt, concrete and including a wharf operation, as well as four road contracting units.
Pan African Resources plc (LON:PAF), the South Africa-based gold miner, said its underlying earnings per share for the year to end-June, 2020, will be at least 87% higher than a year ago. Headline earnings for the year will be between 2.23 US cents and 2.35 US cents, against 1.19 US cents in 2019. Reported earnings will rise to between 2.20 US cents and 2.40 US cents compared to 1.97 US cents per share for the previous year.
Pan African also announced the appointment of Peel Hunt as its nominated adviser with immediate effect. Prior to their appointment, Peel Hunt was joint corporate broker to the company and will remain so going forward, the group added.
Chesnara PLC (LON:CHES) confirmed that, following its announcement on November 22, 2019, in connection with the proposed acquisition of the Dutch insurance portfolio of Belgian-owned Argenta Bank-en Verzekeringsgroep N.V,, all remaining conditions precedent to the completion of the acquisition have now been fulfilled.
Genel Energy PLC (LON:GENL) announced that payments have been received from the Kurdistan Regional Government for oil sales during July 2020. The Taq Taq partners have received a gross payment of $4.7mln, with Genel’s net share of the payment being $2.6mln. The Tawke partners have received a gross payment of $35.8mln, with Genel’s net share of the payment being $8.7mln.
Tower Resources PLC (LON:TRP) said it has raised monies to cover working capital while the company finalises funding arrangements for the drilling of the NJOM3 well on the Thali licence. The company said it has entered into a six-month loan facility with Shard Merchant Capital for US$500,000. At the same time, it has extended its existing US$750,000 loan facility with Pegasus Petroleum by six months. The firm also confirmed a share subscription, agreed on August 28, 2020, to raise gross proceeds of US$ 200,000 through the issue of approximately 38,407,989 new ordinary shares at a subscription price of 0.393p each to clients of Shard.
Vast Resources PLC (LON:VAST), the AIM-listed mining company, said it has elected to pay the interest of $29,591.45 due on August 29, 2020, on the $7,101,947 Bond issued to Atlas announced on January 31, 2020 by the issue of 12,643,763 shares at a price of 0.1759p each.
Sativa PLC (LON:SATI) announced that at the Special Meeting held by Stillcanna Inc. on Thursday, August 27, the resolution regarding the acquisition of Sativa by Stillcana was duly passed with over 99.9% of shares represented voting in favour of the motion, and less than 0.1% against. The company also noted that the Scheme Sanction Hearing that was due to be held today, at which the Court was to consider whether to exercise its discretion to sanction the Scheme, was adjourned to clarify a procedural step taken following the order of the Court made at the Convening Hearing held on 20 July 2020. The adjourned Scheme Sanction Hearing will now take place at 10.00am (London time) on 3 September 2020. It is expected that the adjourned Scheme Sanction Hearing will be conducted remotely using Microsoft Teams.
Rosslyn Data Technologies PLC (LON:RDT) said that further to its announcement of August 17, 2020, relating to the appointment of Paul Watts as its chief customer officer, the group can confirm that all the usual regulatory checks have been completed and that Watts – a director of KiWa Consulting Limited – will join its board with immediate effect.
Oracle Power PLC (LON:ORCP) announced that it has received conversion notices from the Investors in respect of a further £300,000 of the £1.5mln share subscription announced on July 9, 2020. Accordingly, under the conversions, it has issued, in aggregate, 54,582,172 new ordinary shares of 0.1p each in the capital of the company to the investors. Following the conversions, £1.1mln remains outstanding for conversion under the share subscription.
Karelian Diamonds Resources PLC (LON:KDR) said it has started fieldwork at the licence adjacent to its Lahtojoki deposit in Finland. Kimberlite boulders have previously been discovered in the Lahtojoki South area, said Karelian, and the programme is designed to recover these. Analysis has shown that the boulders are a type of Kimberlite unlikely to be derived from the Lahtojoki kimberlite and are likely to have originated from a yet to be discovered kimberlite body, up ice from the initial discovery site.
First Berlin Equity Research has published a research update on Diversified Gas & Oil PLC (LON:DGOC) in which analyst Simon Scholes reiterated his ‘buy’ rating on the stock and increased the price target to 150p from 130p.
Silence Therapeutics PLC (LON:SLN), a leader in the discovery, development and delivery of novel RNA therapeutics for the treatment of serious diseases, said it will announce its unaudited interim results for the half-year ended June 30, 2020, on September 14, 2020. It noted that Iain Ross, the group’s executive chairman, Dr Rob Quinn, its chief financial officer and Dr Giles Campion, head of R&D and chief medical officer will host a webcast and live conference call for analysts and investors at 1.00pm BST/8.00am ET on the day of the results. Webcast link: https://edge.media-server.com/mmc/p/8yn44oft
Canadian Overseas Petroleum Limited (CSE:XOP) (LON:COPL), an international oil and gas exploration and development company focused on sub-Saharan Africa, said that further to its announcement of August 17, 2020, due to restricted working conditions surrounding the coronavirus (COVID-19) pandemic, it has extended the date for the filing of its unaudited condensed interim consolidated financial statements and related management discussion and analysis for the three and six month periods ended June 30, 2020, and now intends to complete the interim filings on or before September 14, 2020. There have been no material business developments since the announcement of August 17, 2020, the company added.
Clipper Logistics PLC (LON:CLG), a leading provider of value-added logistics solutions, e-fulfilment and returns management services, announced that its annual general meeting will be held at Clipper Logistics, 11th Floor, Central Square, 29 Wellington Street, Leeds, LS1 4DL on September 30, 2020, at 11.00am. As explained in the notice of Annual General Meeting, in light of the prevailing government guidance in relation to coronavirus (COVID-19), and in the interests of safety, any: (i) proxy who is not the chairman of the AGM; or (ii) shareholder attending the AGM in person, will be denied access to the AGM. The board, therefore, strongly recommends that shareholders appoint the chairman of the AGM as their proxy.