Kropz: Hard bank dimensions becoming clearer; ARC fund continues support as plant ramps up

Kropz has provided an update on operations at the Elandsfontein phosphate project, having previously reported in June that it had encountered an unexpected volume of compact material within Pits 1 and 2. While alternative mining methods are being investigated, Monday’s statement suggests the issue is not as critical as initially feared by Kropz, with the volume of hard bank material not differing significantly from the original modelling. Meanwhile, the plant continues to ramp up, with running t

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Joiners: No Joiners Today. Leavers: Gi Group Poland has left the Main Market. What’s cooking in the IPO kitchen? Probiotix Health plc intends to join Aquis Stock Exchange Growth Market. ProBiotix develops probiotics (live microbes that, when ingested, can alter the composition of the microbiome, and improve human health) to tackle cardiovascular disease and other lifestyle conditions which are affecting growing numbers of people across the world. Mkt Cap and Capital to be raised TBC. Expected 31

Kropz: plc First production from Elandsfontein as strategic importance of fertilizer market comes to the fore

Kropz has announced first production from Elandsfontein, following first ore processing in Dec’21. Concentrate samples grading 31.5%P2O5, in line with expectations, will now be prepared for shipment to a number of potential buyers. With phosphate rock (“phosrock”) spot prices more than doubling in a year and fertilizer prices in a frenzy, Kropz has received considerable interest in its product. Sales to small local customers will commence in late March with full production capacity in early Q4’2

Kropz: First sales expected imminently as phosphate market soars; cash flow to catalyse shares in 2022

Kropz made solid progress in 2021 despite challenges presented by the Covid-19 pandemic. Having successfully executed modifications at Elandsfontein, Kropz processed first ore in Dec’21 and expects to reach commercial output by mid ‘22. With phosphate rock (“phosrock”) spot prices more than doubling in a year, Kropz is on the brink of delivering sales into a tight market, driving 34%/57% FCF yields in FY22/23E. The Company has also reached several de-risking milestones in recent months, includin

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Foresight Group , the award-winning infrastructure and private equity investment manager has IPO’d on the Main Market (Premium). Offer price announced today at 420p . £455m market cap. £35m new money, £192m sell down. As at 30 September 2020, Foresight Group had AuM of approximately £6.8 billion and managed 292 infrastructure assets and 104 private equity investments on behalf of 33 Foresight investment vehicles. Foresight Infrastructure accounted for 90.2% of the Company's AuM (Foresight P

Second equity facility drawdown and capex restarting at Elandsfontein; SOTP revised to 28p

Kropz plc has announced that it has requested a further US$4m drawdown of cash from its US$40m equity facility with its major shareholder, the ARC Fund (“ARC”). The US$4m proceeds will be exchanged for ~51m new shares to be issued to ARC at a price of 6.75p per share, which will commence trading on 25th September. This drawdown is in addition to the initial US$10m received in June and brings Kropz’s total shares in issue to ~495m. Up to ~US$26m is still available to be drawn in quarterly instalm

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Umuthi Healthcare Solutions Plc, the technology led healthcare business focused on the distribution of pharmaceuticals and the provision of medical facilities in remote areas, seeking admission to the Standard Listing segment of the Official List The Hut Group. Expected intention to float on the Main Market. THG is a vertically integrated digital-first consumer brands group, retailing its own brands in beauty and nutrition plus third party brands, via its proprietary technology platform to

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Revised project plan & funding solution emerging

Kropz provided a progress update on 14 Feb on its Elandsfontein phosphate project in S Africa. The latest metallurgical testing identified and confirmed an alternative processing method that will produce saleable concentrate to an expected 31% P2O5 grade. The new process consists of a reconfigured flotation circuit that can handle a range of feed grades. Engineering design work has been advanced to identify the additional equipment, infrastructure and modifications required to the existing plant

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FRP Advisory Group, UK professional services firm specialising in restructuring advisory. Raising £80m (£20m primary). Expected market cap £190m. Compound annual growth of 16.4 per cent. in revenue and 10.9 per cent. in operating profit since the beginning of FY17.o Strong average EBITDA margins of 51 per cent. over FY17 to FY19, and consistently strong cash conversion Inspecs, a UK designer, manufacturer and distributor of eyewear frames to global retail chains announces its intention to IPO

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African Export-Import Bank a supranational financial institution w hose purpose is to facilitate, prom ote and expand intra- and extra- African trade, of its potential intention to publish a registration document, the Bank hereby confirms its intention to proceed with an Initial Public Offering. The GDRs are expected to be admitted to the standard listing segment of the Official List of the FCA and to trading on the Main Market of the LSE. DNEG Limited intends to apply for adm ission of its Sh

Near-term cash generator in cyclically attractive and structurally vital fertiliser feedstock space

Kropz plc is an emerging sub-Saharan phosphate rock explorer, developer, miner and marketer, with a 74% stake in the advanced Elandsfontein project in South Africa, attractive growth at Hinda in the Republic of Congo, and highly prospective early-stage exploration in Ghana. Kropz raised capital of ~US$35m via an IPO on London’s AIM market in Nov’18, and simultaneously completed the acquisition of ~99% of Cominco PLC, former owners of the Hinda Project, for ~US$40m in new Kropz shares. The IPO pr