2024-02-27 21:14:08
(Alliance News) – The following is a summary of London-listed company updates released on Tuesday and not separately reported by Alliance News:
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Armadale Capital PLC – an investor in Africa-focused natural resource projects – says it is still focused on finalizing the structure of the Tanzanian government’s 16% free stake in the Mahenge Liandu graphite project, as well as on securing financing to enable commercial production. Armadale says: “Discussions continue with the Tanzanian government regarding the framework and structure of their 16% stake. The company hopes that these discussions will be finalized at the same time as the financing of the project.” It adds: “The company continues discussions with several potential financiers regarding the debt financing necessary for the development of the project. The fundamentals of demand for graphite remain strong and it is expected that demand will increase as production of electric vehicles continues to grow.”
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Crystal Amber Fund Ltd – invests in small and mid-cap UK stocks – said last week it had sold just under 35% of its deferred shares in Prax Exploration & Production PLC, at a 20% premium to at book value. Crystal Amber added: “Added to this the expected payment at the end of March for deferred payment units, cash inflows are expected to increase by £5.7 million, which equates to £7. 3 pence per share. In total, this should increase the net asset value by 2.3 pence per share.”
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Cora Gold Ltd – West Africa focused gold developer – says certain bondholders have submitted voluntary conversion notices to the company to convert USD 2.3 million of convertible loan bonds into 82 .0 million shares of the company at a conversion price of $0.0278. “The company intends to use the cash obtained from the conversion to strengthen its working capital,” adds Cora Gold.
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Intelligent Ultrasound Group PLC – provider of artificial intelligence ultrasound software based in Cardiff, Wales – says ScanNav FetalCheck is being used in “the largest ever trial of the use of aspirin to prevent pre- eclampsia”. Pre-eclampsia is a condition that causes high blood pressure during pregnancy. “We are very pleased that a trial of this size will use ScanNav FetalCheck to accurately measure gestational age, an important factor in the prevention of pre-eclampsia. We see this as continued support for our technology in situations where the “Ultrasound should be performed by healthcare professionals with limited ultrasound experience,” said Nicholas Sleep, chief operating officer. The study is funded by the Bill & Melinda Gates Foundation.
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Bens Creek Group PLC – owner and operator of metallurgical coal mines in the United States, including the 10,000-acre Bens Creek mining project in West Virginia – says the largest shareholder is advancing an additional $3 million to support “operational needs of the company”. “This new advance will enable Bens Creek to meet its working capital requirements which result from the challenging business environment the company currently faces,” adds Bens Creek.
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Faron Pharmaceuticals Oy – clinical-stage biopharmaceutical company based in Turku-Finland – Says it will release its full-year results for 2023 on March 14, not February 29 as initially reported.
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By Eric Cunha, Editor-in-Chief of Alliance News
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