The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Braveheart Investment Group PLC - Barnsley, South Yorkshire-based investor in small- and medium-sized businesses - Notes its portfolio company Paraytec is in the final setup stage for its clinical study at the Sheffield Teaching Hospital NHS Trust. Expects recruitment to start in the next two weeks. In the first phase of the study, up to 100 participants, 50 of whom are positive for Covid-19 and 50 are negative, will provide swab samples for analysis by Paraytec’s CX300 instrument.
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Upland Resources Ltd - London-based oil and gas company - Says its subsidiary Upland Saouaf signed a farm-out agreement with Pennpetro Energy PLC through Pennpetro’s subsidiary Nobel Petroleum USA Inc. Agrees to let NPUSA farm-in into Upland’s Saouaf permit area in Tunisia. NPUSA will farm in for an 80% working interest and assume operatorship, subject to the approval of Tunisian state oil company Enterprise Tunisienne d’Activités Pétroliéres. The permit is held in a joint venture with ETAP.
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Pennpetro Energy PLC - oil and gas company focused on the Gonzales oil field in Texas, US - Notes farm-in agreement between Upland Resources’ subsidiary Upland Saouaf and its subsidiary NPUSA.
‘We are excited to finalize our partnership with Upland in their Tunisian venture with the execution of this farm-in,’ Chief Executive Tom Evans says. ‘The Sauoaf permit area hosts 10 gas prospects and leads with up to 15.2 trillion cubic feet gross potential in multiple targets. The risked resource, independently audited by highly respected third-party engineers, is 420 billion cubic feet of gas plus 1.6 million barrels of oil equivalent net to Pennpetro. The Pyrite prospect offers an opportunity to open up an exciting new play in the area.’
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PYX Resources Ltd - Sydney-based zircon producer - Increases its production volumes and starts producing rutile and ilmenite by-products at its mine during the first half of 2022. Says Mineral Sands production more than doubled in the period. Records sales volume growth of 19%, year-on-year. Premium zircon prices rise 92% year-on-year to $2,749 per tonne during the first half.
‘We are optimistic about the second half of the year and remain well placed to deliver on our strategic plan and benefit from the strength and continued rise of the Mineral Sands prices,’ Chief Executive Oliver Hasler says.
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Oriole Resources PLC - mineral explorer in Senegal and Cameroon - Dispatches a total of 1,742 soil samples from the eastern central license package in Cameroon for analysis. Expects results in the third quarter of this year. Dispatches 238 core samples from the recently completed phase four diamond drilling programme from its Bibemi gold projects in Cameroon for analysis.
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Base Resources Ltd - mineral sands developer with assets in Kenya and Madagascar - Achieves its production guidance for the year ended June 30. Posts record sales revenue of $91.3 million, supported a good revenue to cost of sales ratio. Guides for rutile production of 62,000 tonnes to 73,000 tonnes in financial 2023. Expects ilmenite production of 260,000 tonnes to 310,000 tonnes. Anticipates zircon production of 22,000 tonnes to 27,000 tonnes.
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