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TRADING UPDATES: Berkeley Energia served writ; Equiniti takeover nears

Fri, 05th Nov 2021 14:35

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

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Power Metal Resources PLC - exploration company seeking metal discoveries in the US, Australia and Africa - Completes uranium exploration project at Athabasca Basin in northern Saskatchewan, Canada. A total of 20 rock samples were collected, with all samples now submitted for rush-assay analysis. An additional 1,129-hectare land claim was staked to provide further coverage over several uranium-rich lakes surrounding the company's Tait Hill uranium property.

Chief Executive Paul Johnson comments: "We started this campaign several months ago with the initial staking of our land package surrounding the prolific Athabasca Basin located in Northern Saskatchewan, and continue to build our uranium exploration project portfolio there, as you will see with the new ground secured today. Field observations from Phase I exploration are encouraging and we look forward to the receipt of assay results."

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Ten Lifestyle Group PLC - London-based concierge platform - Wins second contract with DNB Bank ASA, the largest financial services group in Norway. The contract will see the group taking over the provision of concierge services to selected private banking customers from the incumbent supplier and launch its digital services in the spring. This is expected to double the size of its existing contract, Ten Lifestyle explains.

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East Imperial PLC - premium mixers maker - Names SUTL Group as company's exclusive distribution partner in Singapore. SUTL will supply East Imperial's entire range, including bottles and its newly launched can format, throughout Singapore. East Imperial claims to already be an established brand within Singapore with its mixers available across hotels and restaurants. "The appointment of SUTL is in line with East's Imperial's strategy to accelerate its growth in the off-trade market where distribution partners play an important role", the company says.

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Pennon Group PLC - Exeter-based water utility - Competition & Markets Authority will not refer merger inquiry into Pennon's acquisition of Bristol Water to a Phase 2 investigation under the provisions of the Enterprise Act 2002. Regulator is looking into whether the merger of the two firms is "likely to prejudice Ofwat's ability, in carrying out its functions, to make comparisons between water enterprises". The CMA says it is still considering whether to refer the merger for a Phase 2 investigation under the separate provisions of the Water Industry Act 1991.

Back in June, the UK CMA slapped Pennon with an initial enforcement order over the potential deal and vowed to examine whether the takeover would result in a "substantial lessening of competition". Pennon bought neighbour Bristol Water earlier in June for an equity value of GBP425 million and enterprise value, including debt, of GBP814 million.

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Taseko Mines Ltd - British Columbia, Canada-based copper producer - On Thursday reports third quarter revenue of CAD132.6 million or around USD106.7 million, 66% higher annually from CAD87.8 million. Adjusted earnings before interest, tax, depreciation and amortisation are CAD76.3 million, more than double CAD31.5 million a year prior. Notes it expects strong fourth quarter, with annual copper production forecast to be in line with the previous guidance at around 120 million pounds of copper. Taseko says Gibraltar pit in British Columbia started producing ore in third quarter, supplementing existing output. Says the copper price outlook into 2022 remains quite favourable with many governments now focusing on "increased infrastructure investment to stimulate economic recovery after the pandemic".

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Berkeley Energia Ltd - Hatfield, England-based investor in gas production and electricity generation projects - Served with a writ for proceedings in the Supreme Court of Victoria at the Melbourne Commercial Court. The move follows announcement on Tuesday that Berkeley had received a claim from Singapore Mining Acquisition Co Pte Ltd in relation to the investment agreement and convertible note entered into in 2017. The claim alleges that the principle amount of USD65 million of the convertible note is immediately payable by Berkeley due to allegations that the investment agreement and convertible note have been frustrated, repudiated and or an event of default has occurred. Berkeley disputes the allegations and claim made by Singapore Mining Acquisition and says it is currently seeking legal advice in relation to the matter. On Tuesday, trading in Berkeley's shares was halted on the Australian Securities Exchange after the company received the claim. Trading in the company's shares continue as normal on the London and Spanish exchanges.

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eve Sleep PLC - London-headquartered sleep wellness brand - Says a collection of six eve branded CBD drops in different flavours have gone live on its website. eve says it is also currently in discussions with a number of store based retailers which are interested in stocking the eve CBD oil range. Also extends its range of sleep gifting and wellness products in recent weeks, including its non-alcoholic plant based three spirit nightcap drink and a selection of rescue remedy products designed to aid sleep.

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Equiniti Group PLC - London-based financial administration outsourcer - Says New York State Department of Financial Services backs proposed takeover by technology-focused private equity firm Siris Capital. In May, Equiniti had agreed to be taken over by Siris in a deal worth GBP673 million. New-York based Siris has since been reviewing the state of the Equiniti business. Approval from the UK's Financial Conduct Authority for the takeover was received on Thursday.

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Nanoco Group PLC - Manchester-based quantum dots developer - Awarded third work package as part of contract with unnamed European electronics customer to upgrade its existing technology. Highlights that the contract upgrade will support its revenue expectations for financial year 2022, which are consistent with the GBP2.0 million of revenue generated the previous year. The revenue from the third work package will contribute to the group's performance in the first half of financial year 2022, Nanoco notes.

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SimiGon Ltd - Florida-based training and simulation technologies developer - Notes DD Goldstein Real Estates and Investment filed a claim against SimiGon in connection with its ongoing appeal. The appeal forms part of legal claims made by an investor at the Tel Aviv District Court. In January, DD Goldstein Real Estates filed two claims in the court, the first regarding salaries at SimiGon and the second related to the appointment of directors at the London-listed firm's annual general meeting in December. The real estate group purchased 1.5 million shares in SimiGon during 2019. SimiGon says it is studying the claim and will respond to court. The company maintains that it does not expect to take a financial hit from the claims.

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By Will Paige; willpaige@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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25 Nov 2022 13:39

Power Metal acquires North Wind lithium project by staking

(Alliance News) - Power Metal Resources PLC on Friday announced the acquisition by staking of the North Wind lithium project in Ontario, Canada.

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18 Nov 2022 16:51

IN BRIEF: Power Metals ups stake in Kalahari Key to 88%

Power Metal Resources PLC - London-based exploration company, with projects in Africa, Australia and North America - Completes transaction to increase interest in Kalahari Key Minteral Exploration Pty Ltd. Following completion, Power Metal now holds 88% interest in Kalahari Key. Kalahari Key holds 100% interest in Molopo Farms Complex project, southwestern Botswana. Power Metal therefore holds 88% interest in Molopo Farms project as well.

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TRADING UPDATES: Mosman Oil & Gas achieves annual net output growth

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

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4 Nov 2022 16:52

IN BRIEF: Power Metal Resources to sell uranium property in Canada

Power Metal Resources PLC - London-based exploration company, with projects in Africa, Australia and North America - Announces the conditional disposal of its 100%-owned E-12 uranium property in Saskatchewan, Canada. Signs a property purchase agreement with Teathers Financial PLC to acquire ownership of the property, subject to its initial public offering in London to be completed by December 31. Consideration is payable in GBP250,000 of Teathers shares at issue price of 1.24 pence per share and the retention of a 2% net smelter return royalty over the property.

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3 Nov 2022 18:18

TRADING UPDATES: Gulf Marine wins deal; Kitwave trades in-line

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

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28 Oct 2022 11:47

IN BRIEF: Power Metal gets regulatory approval for Kalahari purchase

Power Metal Resources PLC - London-based exploration company, with projects in Africa, Australia and North America - Says it has now received all regulatory approvals for acquisition of an additional 59% interest in Kalahari Key Mineral Exploration Pty Ltd.

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27 Oct 2022 15:38

Power Metal says subsidiary on track to strike gold in Nevada

(Alliance News) - Power Metal Resources PLC on Thursday said it was optimistic about its investment in Golden Metal Resources Ltd, after a recent geophysical survey suggested the possibility of a Carlin-type gold discovery.

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25 Oct 2022 17:24

Power Metal says site survey definitive after superconductor result

(Alliance News) - Power Metal Resources PLC on Tuesday said momentum continues to build at its Molopo project after a geophysical survey revealed "massive sulphides" at the licence.

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20 Oct 2022 21:56

TRADING UPDATES: Fiske swings to loss; Nanoco sees loss widen

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

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14 Oct 2022 10:30

Kavango Resources considers further exploration after system surprise

(Alliance News) - Kavango Resources PLC on Friday said it is considering next steps for drilling after the unexpected confirmation of an iron oxide copper gold system at its Ditau project.

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5 Oct 2022 14:01

Power Metal adds to its uranium portfolio with Badger Lake purchase

(Alliance News) - Power Metal Resources PLC on Wednesday said it has added to its property portfolio with the purchase via claim staking of the Badger Lake uranium property in Canada's Athabasca Basin.

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28 Sep 2022 11:49

IN BRIEF: Power Metal survey at Molopo in Botswana finds new conductor

Power Metal Resources PLC - metals exploration company focused on North America, Africa and Australia - Posts update on Molopo farms complex project in Botswana. Explains surveys covered target areas T1-T4, T1-3 and T2-3. Says "final results have highlighted a large, significant geophysical conductor at target area T2-3". Further, "This conductor has been given a high-priority, A+, ranking by the company, the same priority ranking granted to the conductor at T1-6, where drilling is ongoing."

Read more
26 Sep 2022 08:10

IN BRIEF: Evrima investee says drilling at Molopo Farms has begun

Evrima PLC - mining and exploration investor - On Thursday last week, notes update from partner Power Metal Resources PLC, which says inaugural drilling at Molopo Farms Complex project in Botswana has started. Power Metal says diamond core drilling at drillhole DDH1-6B is now underway and is targeting a "large southerly dipping conductor that was identified by the company's recently completed moving loop electromagnetic geophysics survey over the priority target area 1-6".

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21 Sep 2022 20:02

TRADING UPDATES: AB Dynamics revenue up; SDI Group trades in line

(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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15 Sep 2022 15:49

Power Metal announces Molopo update with drilling to begin soon

(Alliance News) - Power Metal Resources PLC on Thursday said that it has completed surveying and modelling at its Molopo Farms Complex project in Botswana.

Read more

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