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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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Fintech platform Xalts to build “Plaid for trade” as it acquires Contour Network from consortium of global banks

Xalts

Accel and Citi Ventures-backed fintech Xalts, which is used by financial institutions and businesses to build and manage digital finance applications, has today announced its acquisition of Contour Network, owned by a consortium of global banks, to accelerate digitisation in trade and supply chain finance. Contour started in 2017 as a pilot by eight global banks including HSBC, Standard Chartered and BNP with a focus to digitize trade. Currently, over 22 banks and 100+ global businesses like Tata Group and Rio Tinto use Contour for digital trade finance solutions. Xalts, which is used by institutions to build multi-party applications for digitisation and tokenization, plans to leverage Contour’s industry standard workflows and integrations to facilitate communication and transactions between businesses and financial institutions in the network. In 2023, global trade reached over $30 trillion. However, according to QED Investors, the digitization of global trade remains relatively minuscule, with less than 1% currently conducted digitally. Due to the complexities and different regulations involved in cross-border trade, a single transaction may require up to 50 sheets of paper that are exchanged with up to 30 different stakeholders including importers, exporters, banks, logistics companies and customs. As global trade goes from strength to strength and traditional supply chains reorganize, Xalts is taking inspiration from Silicon Valley startups like Plaid and Stripe to accelerate digitisation in trade & supply chain finance. Ashutosh Goel, CEO of Xalts commented: “We want to create a Plaid for Trade. Our vision is to expand the scope of Contour’s network which is trusted by banks and corporates, and build it into a rail that enables businesses to access digital solutions for trade and supply chain finance offered by banks, fintechs and technology partners. Combining our platform with Contour’s Network will allow participants to develop and deploy customized solutions quickly”. The initial focus for Xalts will be on embedded solutions for trade and supply chain finance. These will enable banks, logistics companies and technology companies to offer integrated solutions to businesses, using a single platform. Many global and regional banks have been making a push for deeper integrations with their clients and global platforms. In 2023, HSBC had announced a JV with Tradeshift to create embedded finance applications. “Our platform also enables institutions to build new innovative applications and products by leveraging blockchain and tokenization. We partner with leading blockchains and integrate with multiple infrastructure providers to help our clients build tokenization applications.” said Supreet Kaur, COO of Xalts. “Contour will also enable network members to work with us to launch applications in this space”. Xalts was founded in 2022 by Ashutosh Goel and Supreet Kaur, former senior executives at HSBC and Meta. Currently with a team of over 50 across offices in Singapore, Hong Kong, India, UAE and UK, Xalts counts large financial institutions, regulatory bodies and technology companies as its clients. Abhinav Chaturvedi, Partner, Accel added: “Accel has backed innovative companies globally in this space. Xalts has demonstrated that they have the right vision and a team that can execute at a global scale very quickly.” “Citi has long been a leader in driving innovation in financial services. We invested in Contour in 2020 and led the seed round for Xalts in 2022. The combination of these two companies into one firm with an expanded vision and a great leadership team will accelerate innovation in global trade finance.”, said Everett Leonidas, Director, Citi Ventures. Carl Wegner, who was the CEO of Contour Network prior to this acquisition is expected to take a senior leadership role at Xalts. “I am really proud of what Contour has been able to accomplish in such a short time. The vision that Xalts has for Contour’s future turbocharges its strengths and addresses key client needs.” About Xalts Xalts was founded in 2022 by former HSBC and Meta executives, Ashutosh Goel and Supreet Kaur, and are backed by Accel and Citi Ventures. The company has offices in Singapore, Hong Kong, India, UAE and UK. To learn more about Xalts, visit https://xalts.io/ Contact Details Xalts Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://www.xalts.io/

February 20, 2024 02:48 AM Eastern Standard Time

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Lindian Resources makes high-grade REE discovery

LINDIAN RESOURCES LIMITED

Lindian Resources Ltd (ASX:LIN) CEO Alistair Stephens joins Jonathan Jackson in the Proactive studio to talk us through a new high-grade rare earth elements (REE) find at the Kangankunde Project in Malawi. The company identified high-grade carbonatite REE outcrops north and south of the Kangankunde resource following geological mapping and rock chip sampling. The peak assays from North Knoll included 7.15%, 5.15% and 4.69% total rare earth oxides (TREO). Stephens also discusses the company’s focus on advancing the stage-1 mine development and processing plant. Investors can expect plenty of newsflow in the coming months. Stephens said: “These results are highly encouraging and clearly demonstrate the capability to extend mineralisation north and south of Kangankunde and that the mineralised system across our project is much broader and much deeper than currently defined by Kangankunde’s Central Carbonatite. "As such, more extensive exploration including low-cost drilling of the North and South Knoll is eventually warranted.” Contact Details Proactive Investors Jonathan Jackson +61 413 713 744 jonathan@proactiveinvestors.com

February 19, 2024 04:30 PM Eastern Standard Time

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AuKing Mining plans uranium drilling at Mkuju

AuKing Mining Ltd

AuKing Mining Ltd (ASX:AKN) CEO Paul Williams joins Proactive’s Jonathan Jackson to discuss the work being done at the Mkuju Uranium Project in southern Tanzania. An extensive phase-2 drilling program is being planned, encompassing 75 holes and spanning 11,000 metres through aircore and reverse circulation techniques. The program follows a phase-1 program, where it identified several key target areas for the proposed drilling, which is set to start in late May, following the end of the wet season. The program aims to further explore and expand on the significant uranium mineralisation areas discovered during the initial stage of activities. Williams explains the company has put out a tender, required under Tanzanian law, to be called from drilling service companies. He also discusses the broader plans of the company across its diversified gold, copper and uranium portfolio. “The work we carried out last year in the Stage 1 program identified several key target areas for the proposed drilling,” Williams said. “Under local content rules in Tanzania a tender is required to be called from drilling service companies and that process has now commenced.” Contact Details Proactive Investors Jonathan Jackson +61 413 713 744 Jonathan@proactiveinvestors.com

February 19, 2024 04:15 PM Eastern Standard Time

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