RNS Hotlist: Empire, Lamprell, Oracle, Premier, Prospex, Riverfort, San Leon, Southern

Zak Mir
Traders Cafe
06:52, 24th June 2022

RiverFort Global Opportunities (RGO), the investment company listed on AIM, announced its audited final results for the year ended 31 December 2021 RGO recorded net profit generated of £1,040,012, NAV of £11,748,821 - an increase of 27% since the beginning of the year, with NAV per share at 1.49p – up 10%. The company also said it expects to declare a dividend of 0.038 pence per share in relation to 2021, which would equate to a current gross yield of 4%.

San Leon (SLE), the independent oil and gas company focused on Nigeria, provides the following updated in relation to the Potential Transaction, as described in the announcement made by the Company on 29 April 2022. The company said considerable progress has been made and it is now expecting to publish an AIM admission document in respect of the Potential Transaction by 8 July 2022, following which point the Company intends to seek the restoration of trading of its ordinary shares on AIM. 

Oracle Power (ORCP), the international natural resources project developer, is pleased to announce its audited results for the 12 months ended 31 December 2021. The company said it remains committed to all its projects, adding value through achieving target milestones. The addition of the green hydrogen project to the portfolio places it in a “very strong” position as developers of important global fuel and commodity projects, in strategic jurisdictions, with an ability to mitigate commodity risk across the portfolio. 

Empire Metals (EEE), the AIM-quoted exploration and resource development company, announced its final results for the year ended 31 December 2021. The company noted its decision to bolster its position at Eclipse post period end, through the Tribute Agreement in respect to the neighbouring Gindalbie Project, and thus forming the now renamed Eclipse-Gindalbie Project to create real scale in the Australian region.

Prospex Energy (PXEN), AIM-quoted investment company,  announced that the first of two projects in solar generation diversification at the El Romeral power plant in southern Spain has commenced.  The Company holds a 49.9% working interest in El Romeral through its interest in Tarba Energía S.L..  The remaining 50.1% working interest is owned by Warrego Energy Limited. Installation work to place solar panels on the roof of the power plant was approved by Tarba earlier this month and is expected to be completed by the end of July. 

Southern Energy (SOUC), a U.S.-focused natural gas producer, announced the completion of a Placing. Due to “strong demand”, the size of the Placing in the UK was increased from $12.5 million to $13.5 million, and when combined with the $17.5 million Prospectus Offering the total size of the Offering has increased to $31.0 million.

Fans of the James Bond franchise will have noted that Lamprell (LAM) said that it received a non-binding indicative cash offer from Blofeld Investment Management, a 25.06 per cent shareholder in Lamprell, regarding a possible offer to acquire the entire issued and to be issued share capital of Lamprell. The Board said it is considering the Possible Offer in light of the Group's liquidity position and the Company's funding requirements of $75 million over the next two months. Lamprell said that Blofeld's proposal in respect of the Possible Offer is at a very significant discount to the prevailing share price and any acceptable offer would need to include an interim funding solution or bridge financing.

Premier African Minerals (PREM) said that it has entered into a Marketing and Prepayment agreement in the form of a binding Heads of Terms with Suzhou TA&A Ultra Clean Technology Co., Ltd that will allow Premier to establish a large-scale pilot plant at Zulu Lithium and Tantalum Project  to produce SC6 from Q1 2023. The company said the net effect of this is the immediate commencement of construction activities at the Zulu Project intended to see first shipments before 31 March 2023 and a steady build up in production to circa 48,000 ton of SC6 per annum.

 

Disclaimer & Declaration of Interest

The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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