TRADING UPDATES: Robert Walters new CFO; Abenojar project update
The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Robert Walters PLC - London-based recruitment firm - Names Oliver Callaghan as chief financial officer and executive director, effective immediately. Callaghan joined Robert Walters as chief financial officer for recruitment outsourcing in 2024. Oliver previously served as CFO of IOP Publishing Ltd. He replaces interim CFO Jonathan Solesbury, who took over from David Bower in March. Chief Executive Toby Fowlston comments: "I am delighted that Oliver has been appointed as group CFO. His broad finance leadership experience has supported the turnaround in recruitment outsourcing, and more recently I have really benefited from the perspective he brings as part of my leadership team. I look forward to working even more closely together as we continue our actions under the disciplined entrepreneurialism programme."
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Abenojar Tungsten SA - Developer of the El Moto tungsten project in Spain, raised £142.5 million in its Main Market debut last month - Says main decline development is under way at El Moto from the mine portal on a three-shift basis. 60 metres have been developed to date. Additionally, begins construction of the explosives magazine. Abenojar has completed the construction of a 100,000 square-metre water storage pond; a water treatment pilot plant, which is operational; and a temporary waste storage facility. Says phase one of the waste rock and tailings co-disposal facility is under way and that site earthworks and access works are progressing. At the process plant, detailed engineering is progressing. Continues to expect to enter into a facility agreement with Deutsche Bank to finance El Moto in the first quarter of 2027, and financial close in the second quarter. Says IPO proceeds and existing cash will fund construction through 2027, independent of the facility. The company says it is "prioritising activities on the critical path to first production, in particular underground development." Last month, the European Commission designated ABT's proposed tungsten refining plant in Puertollano as a strategic project under the EU Critical Raw Materials Act. The plant is set to produce ammonium paratungstate. Chief Executive Officer Gonzalo García San Miguel comments: "The bell we rang in London on October 30 was a starting signal, not a finishing line. At Abenojar, progress is now measured in metres and in people: the main decline is already 60 metres underground, more than a hundred people are working on site, and El Moto is taking shape after more than a decade of work. The European Commission's second strategic project designation, this time for a potential tungsten refining plant, confirms the strategic value of what we are building in Castilla-La Mancha. But our priority today is clear: to build El Moto safely, efficiently and with the discipline our shareholders expect."
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