News Release
Oriole Resources mulls options for Senela project in Senegal after partner completes earn-in
Oriole Resources PLC
Oriole Resources PLC (AIM:ORR) CEO Tim Livesey joined Proactive's Stephen Gunnion with an update on the company's Senala gold project in Senegal after its partner at the project AGEM Senegal Exploration, part of Managem Group, completed a six-year earn-in period. Livesey said over the six years, AGEM aimed to earn up to 70% ownership through an $8 million investment but concluded the period with a roughly 59% stake. The Senala project, described as a "legacy asset" by Livesey, is part of Oriole's portfolio despite a recent focus on Cameroon. As the partnership moves forward, Livesey said Oriole will evaluate its involvement based on forthcoming work plans and budget proposals from the joint venture, considering the substantial investments required for further development. Oriole Resources PLC is an AIM-listed gold exploration company, operating in West Africa. In Cameroon, the company has a gold resource at the Bibemi project and has identified multi-kilometre gold and lithium anomalism within the district-scale Central Licence Package project. In Senegal, Managem Group is earning into Oriole’s advanced Senala gold project. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
February 20, 2024 04:57 AM Eastern Standard Time
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hVIVO chairman Cathal Friel says he remains committed to hVIVO following share sale
hVIVO PLC
hVIVO chairman Cathal Friel joined Proactive's Stephen Gunnion to discuss the sale of shares in hVIVO PLC by directors, including himself. Friel explained his decision to sell a portion of his shares in hVIVO was to accommodate the high demand from major institutions while emphasising his commitment to remain a long-term, supportive shareholder despite this sale. Friel, who co-founded hVIVO (formerly known as Open Orphan) in 2017, highlighted the company's significant growth and his active involvement in its operations and strategic direction. He mentioned his 25-year experience in mergers and acquisitions (M&A) and his confidence in the company's ability to surpass its medium-term revenue target of £100 million, partly through strategic M&A activities. Additionally, Friel talked about his new role as Executive Chairman at Poolbeg, a company associated with hVIVO, assuring that this would not diminish his involvement with hVIVO. He shared his enthusiasm for the future of both companies, underscoring his role in identifying market opportunities and assembling high-performing teams to capitalize on them. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
February 20, 2024 04:55 AM Eastern Standard Time
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Quadrise highlights key partnerships as it advances the production of sustainable marine biofuels
Quadrise PLC
Quadrise PLC CEO Jason Miles tells Proactive's Stephen Gunnion the company has had a strong start to 2024, highlighting key partnerships aimed at advancing the production of sustainable marine biofuels. Quadrise has entered into agreements with notable entities such as Cargill and Mac2, and more recently with Euthenia Energy and BTG Bioliquids. Miles explained that the collaboration with BTG Bioliquids focuses on converting renewable biomass into bio-oils through fast pyrolysis technology, a venture that promises to supply marine biofuels to global bunker hubs. Euthenia Energy, with its vast experience in renewable projects, especially in Spain, is set to leverage its connections in energy and shipping to distribute a new sustainable marine fuel, initially targeting the Mediterranean hubs of Algeciras and Gibraltar. Miles said the importance of these agreements lies in their potential to decarbonize the shipping industry, aligning with new EU regulations penalizing less efficient vessels emitting higher CO2 levels. Quadrise's efforts to supply European and global bunker hubs with bio-M-SAR products are in direct response to these regulatory pressures. Moreover, these partnerships contribute to Quadrise's ambitious goal to deliver a net-zero marine fuel by 2030, showcasing the company's progress in prototyping a sustainable B100 marine fuel product. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
February 20, 2024 04:51 AM Eastern Standard Time
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ATOME makes progress with Costa Rica green fertiliser project
ATOME Energy PLC
ATOME PLC (AIM:ATOME) CEO Olivier Mussat joined Proactive's Stephen Gunnion with details of a pivotal collaboration with ICE, Costa Rica's state power company, to develop a green fertiliser project. Musat said the venture underscores ATOME's strategy for decentralised green fertiliser production, echoing its successful model in Paraguay. The project, akin in scale to their Paraguayan facility at 120 megawatts, aims for efficiency and cost reduction through replication. Negotiations for power purchase agreements are expected to conclude within four to six months, with Mussat optimistic about exceeding timelines. Costa Rica, renowned for its green initiatives and significant agricultural exports, views this project as a strategic move to decarbonise its agricultural sector and maintain its green branding while addressing its reliance on conventional fertilisers. The choice of Costa Rica was strategic for ATOME, leveraging the country's nearly 100% green grid and its robust agricultural sector requiring substantial fertiliser imports. This initiative aligns with ATOME's broader strategy to establish a leading position in the green agricultural products market across Central and South America. By replicating successful projects and applying lessons learned, Mussat said ATOME aims to create a pipeline of efficient, profitable projects. This approach addresses the significant carbon footprint of the traditional fertiliser sector and taps into the burgeoning market for green fertilisers. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
February 20, 2024 04:48 AM Eastern Standard Time
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Bloomsbury Publishing IR head credits Sarah J. Maas novel in part for stronger financial performance
Bloomsbury Publishing PLC
Bloomsbury Publishing Head of Investor Relations Tamsin Garrity joined Proactive's Stephen Gunnion with details of a trading update the publishing firm had to release after it became evident its full-year revenue and profit would be well ahead of analysts' expectations. Garrity credited the strong performance in part to the success of author Sarah J. Maas's latest novel "House of Flame and Shadow," coupled with growing popularity of her previous works. Initially forecasted to generate revenue of £291.4 million and a profit of £37.2 million, the updated figures now stand at £331 million in revenue and £47.5 million in profit, reflecting an improved margin from 12.8% to 14.3%. This surge in profitability is attributed to the strong sales of backlist (previously published) titles, which incur lower costs than new releases, thereby enhancing operational efficiency. While the company's cash balance forecast remains unchanged for 2024, Garrity said stronger cashflows into the next financial year may be used for reinvestment in the business, dividends, and acquisitions. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
February 20, 2024 04:42 AM Eastern Standard Time
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Poolbeg Pharma chair discusses shift to executive role; hVIVO share sale
Poolbeg Pharma PLC
Poolbeg Pharma chairman Cathal Friel joined Proactive's Stephen Gunnion to discuss his new hands-on role at the company. Stepping up as the executive chairman at Poolbeg Pharma, Friel expressed his intention to replicate the success he achieved with hVIVO, another company he founded. With the addition of key former Amryt leadership team members to Poolbeg, Friel said he is optimistic about the company's aggressive growth prospects and is focused on share price appreciation. The chairman also explained the rational for the sale of shares in hVIVO PLC by directors, including himself. Friel, who has a rich background in mergers and acquisitions (M&A) and investment banking, said the decision was driven by strong institutional demand for hVIVO stock. Despite selling a small portion of his stake, he affirmed his long-term commitment to the company, highlighting its robust growth, profitability, and cash generation under current management. He also revealed plans to increase his stake in Poolbeg, indicating confidence in the company's potential and his commitment to driving shareholder value. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
February 20, 2024 04:40 AM Eastern Standard Time
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SSV Capital delivers on commitments as it prepares for a busy year ahead
SSV Capital Ltd
SSV Capital PLC founder and CEO Ankur Ghosh discussed significant advancements in the company's operations, focusing on the SmartPay launch and developments in the prop-tech and fintech sectors. In an interview with Proactive's Stephen Gunnion, Ghosh highlighted the successful soft launch of SSV SmartPay at the House of Commons, emphasising the onboarding of merchants and customer adoption. SmartPay, featuring a unique URL-based open banking solution, encryption, digital wallet, and cross-border payment technology, aims to significantly increase merchant transactions. The company's ambition is to bridge the transaction gap in the open banking platform, targeting a substantial portion of the market currently dominated by traditional payment facilitators. Further, Ghosh elaborated on SSV Capital's efforts in the prop-tech space through SSV Real Estate, focusing on sustainable commercial real estate development. This initiative underlines the company's commitment to decarbonizing buildings and investing in technology that promotes sustainability and energy efficiency. Additionally, Ghosh announced the launch of a £50 million fund dedicated to fintech and commercial real estate investments, showcasing the company's strategic direction towards integrating sustainable practices with financial growth. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
February 20, 2024 04:37 AM Eastern Standard Time
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Pan African Resources on track to meet full-year guidance after strong first half
Pan African Resources PLC
Pan African Resources PLC CEO Cobus Loots takes Proactive's Stephen Gunnion through the company's interim results to 31 December 2023. The mining firm experienced a significant uptick in performance, driven by increased production and a favourable gold price environment, particularly in South African rand. The impact of operational enhancements at its Barberton operations and its tailings retreatment portfolio including Elikhulu saw substantial production boosts, positioning the company to meet its full-year guidance of 180,000 to 190,000 ounces of gold. Loots highlighted the successful management of costs despite inflationary pressures, attributing part of the efficiency to the depreciation of the rand against the dollar, higher gold output reducing unit costs, and prudent cost controls. Notably, the company's investment in renewable energy and water recycling initiatives has started to pay off, with the first solar plant saving approximately $13 per ounce in all-in-sustaining costs (AISC). Cash generation surged by 130%, enabling further investments in projects like the Mogale Tailings Retreatment project, which is on schedule and budget to enhance Pan African's production for the next two decades. The Evander mine also reported increased output, thanks to infrastructure upgrades. Safety improvements were emphasised as a crucial part of the company's operations, especially significant given the proportion of production from tailings and surface operations. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
February 20, 2024 04:33 AM Eastern Standard Time
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KEFI Gold and Copper makes progress with project funding for Tulu Kapi Gold Mine in Ethiopia
KEFI Gold and Copper PLC
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) executive chairman Harry Anagnostaras-Adams joined Proactive's Stephen Gunnion with an update on the company's Tulu Kapi gold project in Ethiopia following stakeholder meetings at the Mining Indaba in Cape Town last week. Anagnostaras-Adams detailed the innovative financing structure designed to progress these projects without relying on equity market capital. This approach includes utilizing conventional project finance, engaging mining and processing contractors for risk mitigation, and securing development bank support due to Ethiopia's evolving regulatory landscape. The financing arrangement marks a pioneering effort in Ethiopia, representing the first internationally financed, bankable project development in the country's private mining sector. This development adheres to the highest International Finance Corporation standards for environmental and social governance, highlighting KEFI's commitment to responsible mining practices. Furthermore, Anagnostaras-Adams emphasized the importance of community engagement and the meticulous planning required to ensure local support and security. With a comprehensive strategy encompassing physical, legal, and financial preparations, KEFI aims to launch the project in the first half of the year. This ambitious plan involves local capital investment, leveraging multinational subsidiaries in Ethiopia, and navigating the country's regulatory adjustments to facilitate foreign investment. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
February 20, 2024 04:30 AM Eastern Standard Time
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