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The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Destiny Pharma PLC - Brighton-based clinical-stage biotechnology company - Receives positive feedback from US Food & Drug Administration on the proposed phase 3 study design and development programme for XF-73 Nasal gel. XF-72 is being studied for the treatment post-surgical staphylococcal infections, including MRSA. The positive feedback from the FDA means Destiny can simplify the phase 3 study deisgn, which will shorten the overall clinical development program in the US.
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Northcoders Group PLC - Manchester-based training programmes for software coding - Says revenue is in line with management expectations in the six months to June 30, with underlying profitability ahead of expectations. Revenue rises to £2.3 million from £1.0 million year-on-year, with revenue visibility for the whole of the year at £5.4 million, or 83% of market expectations. ‘The strong performance of the group in the year to date gives the board confidence to invest additional funds in the second half of the year to support the anticipated growth in 2023, which is expected to result in the overall profitability for 2022 being in line with market expectations,’ the firm explains.
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Capital Ltd - mining services company - In the first half of 2022, revenue is up 40% at $138.1 million compared to $98.1 million a year before, as average utilised rigs rise 27% to 93 compared to 73 a year ago. Notes strong demand with outlook remaining supportive. Maintains revenue guidance for the full year of $270 million to $280 million, compared to $226.8 million in 2021. Will release full financial results for the first half on August 18.
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Haydale Graphene Industries PLC - Ammanford, Wales-based graphene technology company - Expects revenue ahead of expectations at £2.9 million for year ended June 30, with gross profit of £1.7 million and loss before interest, tax, depreciation and amortisation of £3.4 million behind prior guidance. ‘As previously indicated, the commercial momentum from the second half of the Year is expected to accelerate into the new financial year with both an increased customer and product portfolio contributing to this. Against this increase, the annualised impact of the investment in sales, marketing, quality and production resource during FY2022 alongside the inflationary cost pressures we are seeing at our operating units will partly offset the expected uplift in revenue at the LBITDA level,’ the firm says.
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Dev Clever Holdings PLC - software developer for immersive learning and career guidance - Terminates agreement with Aldebaron DMCC after mutual agreement. The agreement was strategic partnership to accelerate rollout plan in Asia, agreed last June, which later the parties mulled turning into a joint venture, before deciding to terminate it. ‘This releases Aldebaron from the balance of its revenue obligations and returns the distribution rights for the Asian territories to Dev Clever,’ the firm explains. Says the decision will retain its global rights, which can be used to enter into individual agreements with international partners. Discussions have already begun, Dev Clever says. Expects to release delayed results for financial 2021 in August. Separately, in the six months to April 30, it expects to report revenue of around £3.3 million, up 38% year-on-year from £2.4 million. ‘The group continues to benefit from a strong pipeline and is confident of delivering substantial growth in the second half of the current financial year,’ the firm says.
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Challenger Energy Group PLC - Caribbean and Atlantic-margin focused oil and gas company - Second quarter total gross oil production was 34,159 barrels equating to approximately 375 barrels of oil per day, representing an approximately 6% increase over 358 bopd in the first quarter. Says increase in average daily gross production attributable to a focused effort on maintaining baseline production.
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Cora Gold Ltd - West African-focused gold company - Increases resource estimate to 24.9 million tonnes at 1.15 grammes per tonne gold for a total of 920,000 ounces at Sanankoro project in Mali.
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Predator Oil & Gas Holdings PLC - Jersey-based operator active in Trinidad, Morocco and Ireland - Company is in the process of completing local permitting for the second of two alternative locations for the step-out well to the MOU-1 well in Morocco which was completed for rigless testing in 2021. The well is anticipated to be drilled and completed for rigless testing between September and October this year. The drilling window will be updated as well inventory arrives in Morocco from overseas. Star Valley Rig 101 is prepared to commence drilling operations on instructions from the company, it adds.
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Pembridge Resources PLC - London-based copper-focused mining company - Notes Minto Metals Corp second quarter copper sales were £5.4 million, up from £4.6 million last year.
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Castillo Copper Ltd - Perth, Australia-based exploration company focused on copper across Australia and Zambia - Reports encouraging initial results from drill-hole on NWQ project in Queensland. Samples extracted from drill-hole BO_318RC produced a concentrate with confirmed upgrades ranging from five-times to ten-times for copper metal. Further testwork is underway on samples from the Big One Deposit to determine the final optimal results, it says.
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Canadian Overseas Petroleum Ltd - Calgary, Canada-based oil and gas company - Says it extends purchase agreement for Cuda Energy LLC assets.
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Afentra PLC - upstream operator in Africa with carried interest in Odewayne block onshore southwestern Somaliland - Wholly-owned subsidiary Afentra (Angola) Ltd signs deal with INA to acquire a 4% interest in Block 3/05 for $9 million, and to purchase 5.3% interest in Block 3/05A for $3 million. ‘Block 3/05 production averaged 19,500 barrels of oil per day in the first half of 2022 and has material production growth potential. Upon completion of both the Sonangol and INA transactions, Afentra will have initial 2P Reserves of around 24 million barrels (20 and 4 million barrels of oil respectively) and daily production of around 4,680 barrels per day,’ the firm says.
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