The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Arc Minerals Ltd - base metals exploration company focused in Africa - Extends the $5 million consideration owed from the sale of its interest in Casa Mining Ltd to June 15. Arc Minerals gives the extension to allow additional time for Golden Square Equity Partners to progress the sale of Casa.
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SIMEC Atlantis Energy Ltd - Edinburgh-based renewable energy company - Re-deploys its AR1500 1.5 megawatt tidal turbine at its MeyGen site, offshore Scotland. The turbine had been out of the water for upgrade and maintenance work. It is now back generating electricity. The company is now working to re-deploy other turbines.
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Kavango Resources PLC - mining company focused in Botswana - Proposes to acquire 100% of Kalakari Key Mineral Exploration Proprietary Ltd. KKME has a 60% interest in the Molopo Farms nickel exploration project in Botswana. Chief Executive Ben Turney says: ‘This has been a complex transaction to close, dealing with a number of minority interests. A deal structure was agreed last week with eleven of KKME’s twelve participating shareholders. Our new offer to KKME’s shareholders is straightforward and reflects those terms. Molopo Farms has significant potential and Kavango has the team on the ground to accelerate exploration here rapidly. We have a drill rig ready to mobilise that we’ve waited long enough to deploy.’
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Power Metal Resources PLC - metals exploration company focused in North America, Africa and Australia - Notes the announcement made by Kavango Resources PLC. Chief Executive Paul Johnson says: ‘As previously stated Power Metal is supportive of Kavango’s interest in Kalahari Key and remains so today. The Molopo Farms Complex Project has been notably successful, with nickel discovered in the first drill programme and it is time to get on with the job of exploration to take this project forward. To be clear, whilst selling Power Metal’s shares in Kalahari Key should the above offer proceed, Power Metal would retain its separate 40% interest in the Molopo Farms Complex Project.’
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Clean Power Hydrogen PLC - Doncaster, England-based green hydrogen technology and manufacturing company - Enters purchase order with Yorkshire-based green hydrogen and ammonia production company Atome Energy PLC for the sale of a 1 megawatt MFE220 electrolyser unit. The unit will be delivered at the end of the year and deployed at Atome’s Paraguay mobility project. In addition, the company and Atome enter into non-binding letters of intent confirming their intentions to collaborate on potential future orders of electrolyser units and to discuss a potential joint venture for the future production of electrolysers. Atome confirms that it expects further orders will follow in due course.
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Zoo Digital Group PLC - Sheffield, England-based software company focused on localization and media services - Expands its South Asia operations with the acquisition of Vista India Digitek Private Limited and Vista Tanweer Studios Private Limited and a 35% investment in Vista India Digital Media Inc for $6.0 million. $3.1 million is payable in cash on completion, $1 million is being settled through the issue of 636,100 shares in Zoo and the balance of $1.9 million is to be paid as deferred consideration. Vista is a media services and digital distribution company for Indian and foreign language content.
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Surgical Innovations Group PLC - Leeds, England-based surgical and medical instrument manufacturer - Launches YelloPort Elite 5mm, a surgical port access system, developed in partnership with CMR Surgical, a Cambridge, England-based medical devices company. Under the design agreement by Surgical Innovations and CMR, Surgical Innovations will supply the item for each of CMR’s Versius robotic systems.
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DWF Group PLC - Manchester, England-based legal business - Agrees associations with Portuguese law firm, Nobre Guedes & Associados, and Spanish loss adjusting business RTS Group. The association with RTS is the first for DWF’s Connected Services division. DWF says it will significantly bolster its Claims Management & Adjusting service. DWF says the two associations will complement one another and will also strengthen its integrated offering in the Iberian region and beyond.
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Orosur Mining Inc - mineral exploration company focused on South America - Says its geological teams have mobilised to commence the company’s first field exploration programme at the El Pantano gold/silver project in Argentina. The programme is expected to last two weeks and will involve mapping and surface sampling programmes.
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Rockwood Realisation PLC - London-based investment company focused on smaller UK public companies - Says its former investment manager Gresham House PLC has sold its 23.7% interest in the company to a number of investors, including Rockwood’s current investment manager Harwood Capital LLP. Harwood now owns 28.9% of Rockwood, up from 9.2%.
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Eco Atlantic Oil and Gas Ltd - Toronto-based oil and gas company focused in Africa - Provides new competent person’s resource report on its assets offshore Guyana, Namibia and South Africa. In Guyana at the Orinduik Block, Eco Atlantic reports 681 million barrels of oil and 544 billion cubic feet of gas net to Eco Atlantic. In South Africa at Blocks 2B & 3B/4B, the company reports 864 million barrels of oil and 309 cubic feet of gas net to Eco Atlantic. In Namibia at 4 Blocks, Eco Atlantic reports 6,705 million barrels of oil and 6,565 billion cubic feet of gas net to Eco Atlantic.
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PYX Resources Ltd - Sydney-based zircon producer - Increases the price of its premium zicron 34% to $3,100 per tonne from $2,305 per tonne with immediate effect. This represents the fifth consecutive price increase recorded by PYX since January 2021. Robust demand coupled with a lack of growth in global supply capacity has prompted the surge in price, PYX explains.
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Cadence Minerals PLC - London-based investment company focused on mineral resources sector - Upgrades mineral resource estimate at the Amapa iron ore project in Brazil to 176.7 million tonnes grading 39.7% iron. In addition to the ongoing pre-feasibility study at the project, Cadence says an investigation is underway into optimisation opportunities and potential cost savings in the transportation of the iron ore concentrate. Company appoints Armstrong International Ltd as pre-feasibility study manager for the project.
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Inchcape PLC - London-based car dealership - Non-Executive Director Sarah Kuijlaars buys 8,000 shares at £7.06, worth £56,504, on Monday.
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Ashmore Group PLC - London-based investment manager - Says Chair David Bennett will be stepping down as chair on April 20. Current Senior Independent Director Clive Adamson will succeed Bennett as chair on April 21. Jennifer Binham will assume the role of senior independent director on the same day Adamson steps down from the role.
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Alba Mineral Resources PLC - mineral exploration company focused on northern Europe - Receives results from a phase two sampling programme at the Waste Tip at the Clogau-St David’s gold mine in Wales. Results return gold grades of up to 11.35 grams per tonne. Whole-sample analysis averages up to 3.50 grams per tonne.
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Roquefort Therapeutics PLC - London-based biotechnology company - Files patent application covering antisense oligonucleotide drugs to block the action of Midkine, a heparin-binding growth factor. Roquefort says the ‘broad coverage’ of the patent application will pave the way for subsequent methods patents covering the use of the Midkine antisense oligonucleotides in different clinical indications.
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Xtract Resources PLC - mining company focused on Africa and Australia - Receives independent assay results for drill holes BRDD-021-026 and BRDD-21-027 from the phase two diamond drilling programme at the Bushranger copper-gold exploration project in Australia. Results return several intervals of copper and gold mineralisation from 154 metres to 640 metres downhole which, Xtract says, offer significant potential to extend the Racecourse mineralisation to depth in an area with no previous drilling.
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Galantas Gold Corp - mining company focused on Northern Ireland - Announces results for three holes from its ongoing 4,000 metre drilling programme at the Omagh project in Northern Ireland. Hole FR-DD-22-UG-181 intersects 31.7 grams per tonne of gold and 58.5 grams per tonne of silver over 7 metres at the main Kearney Vein. Hole FR-DD-21-UG-174 intersects 73.6 grams per tonne of gold and 93.4 grams per tonne of silver over 2.2 metres on a parallel-running vein. Hole FR-DD-21-UG-176 intersects 23.8 grams per tonne of gold and 16.8 grams per tonne of silver over 2.9 metres on a further parallel zone of mineralization.
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Haydale Graphene Industries PLC- Ammanford, Wales-based graphene technology company - To start £97,750 storage of hydrogen and nanomaterial enhancement project in March. The project will run for an initial period of seven months. The project builds on the memorandum of understanding signed with Viritech Ltd in September. It will focus on advanced materials technology with the aim of bringing nano-enhanced epoxy into the hydrogen storage market.
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Ariana Resources PLC - gold exploration company focused on Turkey - Provides update on its 50% owned exploration company Venus Minerals Ltd. Venus completes agreements with Hellenic Copper Mines Ltd and Iacovou Group in Cyprus for a 50/50 joint venture for the development of the Apliki Copper Mine. Adds that Venus is progressing towards an IPO on AIM in the second quarter of 2022.
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Atalaya Mining PLC - mining company focused on Spain - Receives the judgment from the High Court of Justice in relation to a claim by Astor Management AG for the residual interest from a payment of €53 million to Astor. Judge confirms the interest due is payable by the company. Atalaya expects the interest due to be between €10 million to €11.7 million.
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Genedrive PLC - Manchester-based molecular diagnostics company - Notes data from a Pharmacogenetics to Avoid Loss of Hearing trial assessing its MT-RNR1 ID kit. The data confirms the test’s role in role in avoiding antibiotic related hearing loss in infants. Genedrive says the trial demonstrated analytical sensitivity of 100%, a specificity of 99.2% and an accuracy of 99.2%. CEO David Budd says: ‘The PALOH study demonstrates the ease of use and capability of the Genedrive technology to deliver rapid genetic information in a very time sensitive acute care situation, a diagnostic advancement that has not been demonstrated previously with other commercial platforms. ’
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MyCelx Technologies Corp - Georgia, US-based clean water and air technology company - Exercises broker option of 155,000 shares, raising proceeds of $101,500 for the company. The broker option comes in addition to the placing and subscription announced on March 11. Combined with the placing and subscription, the company fundraises $2.31 million.
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