San Leon (SLE), the independent oil and gas company focused on Nigeria, announced a further update in relation to the Proposed MLPL Reorganisation.
The company said it is now apparent that the Proposed Transactions are unlikely to complete in the final quarter of 2022 but are instead more likely to complete during the first quarter of 2023. The longstop for completion of the MLPL Reorganisation Agreement has therefore been extended to 31 March. SLE said it continues to move closer to finalising the Proposed Transactions, including alternative financing facilities, which, when completed, will be truly transformational for the company.
Pires Investments (PIRI), the investment company, provided an update in relation to the first Sure Valley Ventures fund’s investment in Smarttech247 Group plc. Pires said it noted the announcement by Smarttech247 of its intention to seek admission of its shares to trading on AIM, a market of the London Stock Exchange. Smarttech247 is profitable and cash generative and has achieved significant revenue growth in FY21 (20% over projected revenue and 50% growth compared to FY20) and expects continued growth in FY22. The company has raised approximately £3.67 million of new funds to support its continued expansion.
Mobile Streams (MOS), the AIM quoted mobile content and data intelligence company, announced it has signed a 5-year contract to be the exclusive provider of all NFT content for the Extreme Fighting Championship (EFC). www.efcworldwide.com. MOS said, headquartered in Johannesburg, South Africa, EFC is a sport entertainment phenomenon, which has captured the attention of passionate and loyal fans throughout the world.
African Pioneer (AFP), the copper-gold exploration and development company, announced that it has been notified by M&A Wealth Pty Ltd, a member of the Concert Party, that it has sold 1 million shares reducing its shareholding in the company to 4 million Shares. As a result of this sale the aggregated Concert Party interest is now 51.16%.
Duke Royalty (DUKE), a provider of alternative capital solutions, provided guidance on its trading for its third financial quarter ending 31 December 2022. Based on current trading, Duke said it expects to achieve recurring cash revenue of £5.5 million in Q3 FY23. This represents a 41% increase on Q3 FY22 (£3.9 million).
Zephyr Energy (ZPHR), the Rocky Mountain oil and gas company focused on responsible resource development and carbon-neutral operations, announced the next phase of production testing has commenced on the State 16-2 LN-CC well, and hydrocarbons are now flowing from the well. The well is located on the Company’s flagship project in the Paradox Basin, Utah, in the United States of America.
SolGold (SOLG) announced it has completed the previously announced $50 million royalty financing pursuant to the Royalty Financing Agreement with Osisko Gold Royalties Ltd in relation to the Company’s Cascabel copper-gold project in northern Ecuador. Osisko has been granted a 0.6% royalty interest to be calculated by reference to net smelter returns from the Cascabel concession area in accordance with the terms and conditions set out in the Royalty Financing Agreement.
EQTEC (EQT), a technology innovator, updated regarding the sale of Deeside WTV Limited and consequent Company trading update for 2022. The company said it is disappointing to see the negotiation for purchase of the Deeside project fall through, with the consequential impact on our 2022 forecast. It views this setback as temporary and not a major block to progress with the Project. It has already turned to other potential investors and committed ourselves to securing an alternative financing solution quickly.
Technology Minerals (TM1), the battery metals group, announced that Recyclus Group Ltd, its 49% owned battery recycling business, has processed 19 tonnes of end-of-life batteries at its battery recycling plant in Tipton, West Midlands.
Windar Photonics (WPHO), the technology group, announced that it has received a new test order under the Company’s global distribution agreement with Vestas Wind Systems A/S for deployment with an Independent Power Producer in Australia. The order, for an initial 5 units and an option for a further additional 43 systems.
Venture Life (VLG), a company developing, manufacturing and commercialising products for the self-care market, announces that is has acquired three new Ear-Nose-Throat brands through the acquisition of the entire issued share capital of the UK based company, HL Healthcare Limited for a total consideration of £13.0 million.
Quantum Blockchain Technologies (QBT) announced that in respect of the company’s claim against the previous management team of Sipiem in Liquidazione S.r.l, eight of the ten defendants have appealed against the Venice Court’s judgment of first instance in favour of the company’s wholly owned subsidiary Clear Leisure 2017. The Court had ordered the defendants to pay CL17 an aggregate amount of €6,188,974 in damages, plus €85,499 in legal expenses.
Synergia Energy (SYN) updated with respect to its Cambay India field. The company said gas production from the C-77H well continued to produce on a consistent plateau with an average gas rate of 270 MCFD for the month of November. Oil production from the field (including C-77H condensate) averaged 23 BOPD for the month. The farm out process of up to 50% of the Cambay PSC is currently work in progress with discussions underway with both potential farmees and key stakeholders such as the Directorate of Hydrocarbons.
ATOME Energy (ATOM), the company focused on green hydrogen and ammonia production, announced the expansion of its flagship green ammonia production project in Villeta, Paraguay from 60MW to 120MW. This doubling of capacity will enable the facility to produce up to 100,000 metric tonnes (MT) of green ammonia per year once operational within 30 months from now.
Jaywing (JWNG), the integrated agency powered by data science, its interim results for the six months ended 30 September 2022. Adjusted EBITDA was up by 32.6% at £1,360k against prior period, on 3.8% lower revenues. UK profitability improved with adjusted EBITDA up 150.8% at £1,219k, due to cost and efficiency improvements.
Pelatro (PTRO), the Customer Engagement Hub software specialist for enterprises, updated on trading for the year ending 31 December 2022. The Group said it has won a number of recurring revenue contracts in the year; however, a small number of customers have indicated that they may wish to transfer to a license model. Accordingly, the Group is likely to close the year with just under $6m in ARR.
SEED Innovations (SEED), the AIM-quoted company, noted an announcement released on the ASX by its portfolio company, Little Green Pharma Ltd, regarding its half year results for the period ended 30 September 2022. The Company continued its record of strong revenue growth during the reporting period, with a significant increase in revenue to $9.2 million, up 25% compared to the 6 months to 31 December 2021 and (up over 130% from the corresponding 6 months to 30 September 2021).
Horizonte Minerals (HZM) announced that it has entered into two long-term port agreements, thereby securing access for the import of required raw materials and the export of its final ferro nickel product, for its 100%-owned Araguaia Nickel Project in Brazil, where construction is underway and first production remains on track to commence in Q1-2024.
Ascent Resources (AST), the onshore Hispanic American and European focussed energy and natural resources company, announced that it has undertaken a placing raising gross proceeds of £0.6 million. The company said the steps announced today mark important inflection points for Ascent as it continues to both extract value from its Slovenian asset whilst also repositioning the business towards industrial ESG metals opportunities elsewhere.
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