Proactive news headlines: Savannah Resources, Belvoir Group, Franchise Brands, Live Company Group, A
Savannah Resources PLC (LON:SAV) has inked an agreement with Galp for a proposed partnership in the lithium field around the Mina do Barroso mining project in northern Portugal. The heads of agreement with the major Portuguese energy group envisages Galp taking a 10% stake in Savannah’s subsidiary via a US$6.4mln investment, to support a definitive feasibility study. Together the partners intend to work on a possible offtake agreement for up to 100,000 tonnes per annum of lithium concentrate from Mina do Barroso. This would represent around 50% of the mine’s expected output.
Belvoir Group PLC (LON:BLV) said profits from its financial division rose by 26% in 2020 while it also hit its target of 200 advisers in the division. The lettings specialist established its financial arm in 2017 with the acquisition of Brook Financial, which had 32 advisers at the time. In 2018, it acquired MAB (Glos) with 88 advisers but since then the division has grown organically to reach 202 advisers at the year-end, Belvoir said.
NQ Minerals PLC (AQSE:NQMI) the Tasmania-based miner, said it has appointed Adrian Moroz as its new chief financial officer and to the board. Moroz, a qualified mining engineer and chartered accountant, was previously a director at ING Bank’s Commodities Food & Agri, Metals & Mining arm and a director of the Mining Project & Structured Financing team at HSBC. In a separate statement, NQ also provided a 2020 year-end operations update. NQ Minerals’ chairman, David Lenigas said: “2020 was a highly successful and pivotal year for the Company, having seen our flagship Hellyer operations finally achieve production rates better than originally forecast from the original mine start-up plan. Hellyer’s year-end performance, and the revenue boosts associated with production rates of around 1.4 million tonnes per annum, were instrumental in securing a major US$55m debt refinancing package for Hellyer. Efforts to improve Hellyer’s output will continue through 2021 and work there will move towards evaluating the potential of re-opening the underground operations. At our Beaconsfield Gold Mine, we await the receipt of the independent reserve assessment report and the economic model. Getting Beaconsfield operational is seen as an important driver for future revenues and profits.”
Franchise Brands PLC (LON:FRAN) has said it expects revenue and earnings for 2020 to be ahead of current market expectations. The company pointed out that it had seen a strong recovery in the second half of the year in most parts of its business as many of its customers returned to something close to normal trading patterns. Franchise Brands said that although 2021 starts with a higher level of lockdown restrictions than those in place for most of the second half of 2020, the company is now well versed in mitigating the impact on its business.
Live Company Group PLC (LON:LVCG) said it has signed heads of terms with trade fair organiser Messe Frankfurt to launch the eMobility Festival in Cape Town in November. The media group said the event will take place as part of the e-Festival programme and will focus on electric vehicles of all kinds as well as the future of e-mobility and climate change. Live Company also said its subsidiary E-Movement Holdings Ltd is in advanced negotiations with Formula E Holdings, the owners of the electric racing car championship, and the city of Cape Town to stage a Formula E race as part of the week-long e-Festival programme.
ANGLE PLC (LON:AGL) (OTCQX:ANPCY), a world-leading liquid biopsy company, announced that following a formal tender process, it has appointed PricewaterhouseCoopers as its auditor for the Company and its subsidiaries for the financial year ended December 31, 2020. Accordingly, RSM UK Audit has resigned as the company’s and subsidiaries auditor and, as required by Section 519 of the Companies Act 2006, has deposited a statement with the company confirming that there are no circumstances in connection with its resignation that should be brought to the attention of the members or creditors of the company.
BlueRock Diamonds PLC (LON:BRD) said it boosted production at its Kareevlei mine in South Africa during the 2020 full year to 15,371 carats, up from the 14,033 produced in 2019. Processed tonnes increased by 25% compared with the previous year, despite the mine being closed due to the coronavirus for a period of 50 days starting on March 24, 2020. Assuming a constant run rate during the period of closure, the increase over the year would have been approximately 45%.
ECR Minerals PLC (LON: ECR) said it has commenced drilling operations at the Bailieston project in the Victoria Goldfields, Australia. “ECR’s wholly owned Australian subsidiary MGA has built a strategic portfolio of exploration ground in the Victoria Goldfields with granted and application licences totalling some 1,175 square kilometres,” said chief executive Craig Brown in a statement. “Our newly acquired drill rig, named ‘Midas’, is now in operation at its inaugural drill site the Byron prospect in the HR3 area of the Bailieston Project. This is the first of numerous planned drill locations which will be coordinated from ECR’s central exploration facility compound in the Victoria Goldfields.” In a separate statement, ECR Minerals also said it has received notice to exercise warrants over 8,967,746 new ordinary shares in the company. Of this number, 7,095,237 new ordinary shares are being issued pursuant to the exercise of warrants at 1.125p per share, and 1,872,609 new ordinary shares pursuant to the exercise of warrants at 2.1p per share. Aggregate subscription monies of GBP119,144.11 have been received by ECR in respect of the exercise of these warrants.
Scirocco Energy PLC (LON:SCIR) has noted an update from Helium One Global Ltd (LON:HE1), in which it owns a 4.6% stake, regarding the advancement of an exploration programme at the Rukwa project in Tanzania. The AIM-listed firm said an environmental and social impact assessment (ESIA) and a compensation survey have now been completed at the site, which included consultation with communities in nine villages closest to the drill locations.
Curtis Banks Group PLC (LON:CBP), a specialist in self-invested pension plans (SIPP), said it delivered a robust trading performance throughout 2020. Strategically, the group completed the acquisitions of Talbot and Muir, a high-quality provider of SIPP and small self-administered pension schemes, and Dunstan Thomas, a leading fintech provider, and announced a new fee-charging structure for clients. In a brief trading update, the firm said these initiatives will reduce the proportional contribution of interest income to total revenue and improve the overall quality and diversity of earnings across the group.
KRM22 PLC (LON:KRM) said it expects to report a “significant improved” adjusted EBITDA loss for its 2020 financial year and highlighted a number of contracts expected to be signed in early 2021. In a trading update for the year to December 31, 2020, the investment software firm forecast an adjusted EBITDA loss for the year of GBP0.1mln, narrowed from GBP3.1mln in 2019, while revenues are expected to rise to GBP4.6mln from GBP4.1mln. The company also said it has a near-term pipeline of deals worth GBP0.5mln of annual recurring revenue (ARR) which are in final negotiations and expected to be signed in the first quarter of 2021.
Ariana Resources PLC (LON:AAU) has said it produced 18,645 ounces of gold at its 50%-owned Kiziltepe mine during the year to December 2020, exceeding guidance by 3.5%. As at the end of 2020, the group noted the mine had produced a total of 84,200 ounces of gold and 915,233 ounces of silver, recording US$134 million in revenue since operations commenced in early 2017. Mining operations are continuing at Arzu North and Derya, with plans to expand these open-pit proceeding. A processing plant expansion is also underway, with construction due to be completed in the second half of this year.
CentralNic Group PLC (LON:CNIC) said it has acquired French firm SafeBrands, a provider of online brand protection software and corporate internet services, for up to EUR3.6mln (GBP3.2mln) in cash. The internet domain names specialist said EUR3mln (GBP2.7mln) of the purchase price has been paid upfront, with the remaining EUR600,000 (GBPGBP538,213) to be paid subject to SafeBrands meeting agreed financial objectives for the 2020 financial year. CentralNic noted that SafeBrands’ client list includes some leading French brands and it is “ideally positioned” to take advantage of the brand protection, domain name system (DNS) and hosting markets which it said are “all growing rapidly as [COVID-19] has accelerated the digitisation of business”.
Bahamas Petroleum Company PLC (LON:BPC) has exercised a put option to raise a further GBP3.75mln, as a result of shares being issued, to support the ongoing Perseverance well programme. A total of 187.5mln new shares were issued at a price of 2p each. It means that, if remaining available funding sources are drawn in full, the company will complete its funding strategy with an aggregate of US$72mln raised for Perseverance – a 770mln barrel exploration target. Bahamas Petroleum highlighted that it represents adequate funding for the well plus an extensive 2021 work programme across the company’s suite of production, appraisal and development assets.
BATM Advanced Communication Ltd (LON:BVC) (TASE: BVC) said it has entered into an option agreement to sell its NGSoft software and digital services business for US$33mln. The putative buyer is Aztek Technologies, an Israeli cloud services specialist that is part of SKY Fund, a private equity group. BATM said the deal would allow the company to focus on its areas of expertise – networking, cyber and biomedical – while the funds from the disposal would be used to grow the core businesses.
Rosslyn Data Technologies’ PLC (LON:RDT) pipeline of new opportunities is “healthy” and the values of potential contracts is “larger than we have done in the past”, according to chief executive Roger Bullen. He was providing an update on the outlook for the company alongside interim results. While there was a cautionary line on the timing of new business – the coronavirus pandemic and deal size being the main drags – the Rosslyn CEO was upbeat on prospects for the year.
Woodbois Ltd (LON:WBI), in a quarterly update, told investors it has a strong platform to build on following August’s transformational balance sheet restructuring. The company achieved its revised revenue target of US$15mln for 2020, with US$3.2mln generated in the fourth quarter. The group noted that it is funded to achieve near term growth objectives with US$2.56mln of cash at the end of December. Working capital was marked at US$9mln.
Power Metal Resources PLC (LON:POW) has updated on the maiden drill programme targeting the discovery of nickel and Platinum group metals at the Haneti project in Tanzania. Power Metal holds a 35% ownership interest in Haneti, with 65% held by Katoro Gold PLC (LON:KAT). “The Haneti drill programme is progressing well, with approaching 50% of the planned 2,000 metres of rotary air blast drilling now complete,” said Power Metals chief executive Paul Johnson in a statement.
Pembridge Resources PLC (LON:PERE) said its partially-owned Minto copper mine in Canada produced 5,143 wet metric tonnes of concentrate during the fourth quarter of 2020. A total of 24,646 wet metric tonnes of concentrate were produced during 2020, up from the 7,167 wet metric tonnes produced in 2019. The group also noted that payments of US$17.5mln were received by Minto from Sumitomo during the fourth quarter of 2020. During 2020 payments of US$64.3mln were received by Minto from Sumitomo.
Tharisa PLC (LON:THS) has confirmed a strong quarter in its South African Platinum and chrome mining operation. The company revealed that 1,234 tonnes of reef was mined in the quarter ended December 31, 2020, down 12.2% on the preceding quarter, but, against the year-on-year comparative volumes, up 8% for the quarter. The group produced 39,000 ounces of 6E Platinum Group Metals (PGMs), marking a 14% improvement against the year-on-year comparison.
Arix Bioscience PLC (LON:ARIX), a global venture capital company focused on investing in and building breakthrough biotech companies has noted that its portfolio company, Harpoon Therapeutics, Inc. (NASDAQ:HARP), has announced the closing of its underwritten public offering of 6,764,704 shares of its common stock, which includes 882,352 shares sold upon the underwriters’ full exercise of their option to purchase additional shares, resulting in aggregate gross proceeds of approximately $115.0mln, before deducting underwriting discounts and commissions and offering expenses payable by Harpoon Therapeutics. Following the offering, Arix retains a stake of 6.9% in Harpoon, amounting to 2,208,667 shares of common stock.
Custodian REIT PLC (LON:CREI), the UK property investment company, has announced that, after nearly seven years of service, Professor Barry Gilbertson will retire as senior independent non-executive director of the company with effect from January 1, 2021, as part of its board succession plan. The group added that Matthew Thorne, currently a non-executive director of the company and chair of its Audit and Risk Committee, has been appointed senior independent director and that David Hunter, currently chair of the company, has been appointed as Chair of the company’s Remuneration and Management Engagement Committees. The company said that its board has in place a succession plan under which the process to appoint a further non-executive director is underway. The REIT noted that Mattioli Woods PLC, owner of Custodian Capital Limited, the company’s discretionary investment manager, is keen to capitalise on Gilbertson’s considerable experience and understanding of real estate and he will take on the role of executive chairman of Custodian Capital Limited with effect from January 1, 2021. Gilbertson has therefore decided to retire from the company’s board to ensure it retains a strong majority of independent directors.
OptiBiotix Health PLC (LON:OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol, diabetes and skincare has announced the appointment of Cenkos Securities as its sole broker with immediate effect.
Impax Environmental Markets PLC (LON:IEM) announced that at a general meeting of the company held on Tuesday, the ordinary resolution in connection with the issue of further new ordinary shares up to an aggregate nominal value of GBP2,633,771 as set out in the circular sent to shareholders dated December 17, 2020, was approved by shareholders. In a separate statement, the company also said its monthly factsheet for December 2020 is now available on the company’s website at: https://impaxenvironmentalmarkets.co.uk/wp-content/uploads/2019/05/factsheet-Impax-Environmental-Markets-Plc-December-2020.pdf
Argo Blockchain PLC (LON:ARB), the leading cryptocurrency miner announced that over the past several days it has received a notice of exercise of certain options and notice of exercise of certain warrants over ordinary shares of GBP0.001 each in the capital of the company. As a result of the exercise of the options, the company has issued in aggregate 2,583,334 new ordinary shares to the holders of the options at the exercise price of GBP0.16 per share. The aggregate gross proceeds to the company from this option exercise is GBP413,333. As a result of the exercise of the warrants, the company has issued in aggregate 1,579,709 new ordinary shares to the holders, with 844,709 new ordinary shares issued at the exercise price of GBP0.16 per share and 735,000 new ordinary shares issued at the exercise price of GBP0.08 per share. The aggregate gross proceeds to the company from the warrant exercise is GBP241,553.
APQ Global Limited (LON:APQ), an emerging markets growth company based in Guernsey, said it has issued a total of 26,578 ordinary shares of no par value in the capital of the company to employees as part of the 2018 management share-based compensation scheme, including Bart Turtelboom, its chief executive officer who has received 23,366 ordinary shares. The price used in calculating the number of shares awarded under the 2018 Scheme was the book value per share as at December 31, 2017, of 128.11 US cents. Following this issue, Turtelboom is interested in 22,285,391 APQ ordinary shares representing 28.43% of the company’s issued share capital.
Power Metal Resources PLC (LON:POW) the AIM-listed metals exploration and development company said it has received notices to exercise warrants over 8,750,000 new ordinary shares of 0.1p each in the company at an exercise price of 0.7p per ordinary share. Subscription monies of GBP61,250 have been received by Power Metal in respect of these exercises.
Live Company Group PLC (LON:LVCG) has announced that its annual general meeting is to be held on January 29, 2021, at 2.30pm at 14 Coach & Horses Yard, Mayfair, London W1S 2EJ. As a result of the current coronavirus (COVID-19) crisis and the UK Government’s restrictions, AGM will be run as a closed meeting. Shareholders will not be permitted to attend the AGM in person and are strongly encouraged to submit their proxy in advance of the meeting to ensure that their votes are registered.
Tiziana Life Sciences PLC (NASDAQ:TLSA) (LON:TILS), a biotechnology company focused on innovative therapeutics for oncology, inflammation, and infectious diseases has announced that it is participating in the JPMorgan 39th Annual Healthcare Conference 2021. Dr Kunwar Shailubhai, CEO and CSO of Tiziana Life Sciences, commented: “I look forward to sharing our exciting story with conference attendees. With topline data from our COVID-19 trial expected this month, multiple Phase 2 trial launches expected in 2021, and the potential application of Foralumab in a wide range of autoimmune and inflammatory diseases in the longer-term, we are well-positioned to achieve a series of important milestones that can provide a positive and lasting impact on our valuation in the months and quarters ahead.” The JPMorgan Health Community Conference was created for health leaders and transformers who are working to change the current paradigms of health and wellness. For more information and to view the latest investor presentation, investors can use the following links: http://www.tizianalifesciences.com/about-us/ or www.TLSAinfo.com