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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Coro Energy PLC - South East Asian energy company - HDBank of Vietnam provides company with an in principle commitment letter to provide debt finance for its previously announced 50MW memorandum of understanding with Mobile World Investment Corp to install rooftop solar systems across their portfolio. The funding would cover 50% of the total capital required for these locations. It would then be the intention to broaden any funding arrangement reached to the full scale 50MW roll out across all project locations. Further, notes exclusivity period with Capton Energy in respect of an indicative funding proposal, has expired. Talks continue in respect of the potential sale of a stake in the revenue producing 3MW pilot project in Vietnam.
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Atalaya Mining PLC - critical metals exploration and development company primarily focused on Spanish mining projects - Reports fourth quarter operations update. Ore mined totals 3.7 million tonnes, up from 3.5 million tonnes last year, and down from 3.8 million tonnes in the third quarter. Waste mined was 7.4 million tonnes compared to 5.3 million tonnes a year ago and 9.7 million tonnes in Q3. Copper production was 12,775 tonnes in compared to 13,969 tonnes a year ago, and 12,541 tonnes in Q3.
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Chaarat Gold Holdings Ltd - gold miner, which has an operating mine in Armenia and assets in Kyrgyzstan - Maiden mineral resource estimate at the Karator Prospect confirmed for 207,000 oz at 0.96 grammes per tonne gold of indicated and inferred JORC compliant resources. Further, sees potential to significantly extend the Tulkubash gold project life of mine from the current 6 years towards the eventual target of 10-15 years. Says Tulkubash is expected to produce 95,000 ounce gold per annum with all in sustaining costs of between $1,000-$1,100 per oz from 2025. Next steps will include further systematic step out and infill drilling, aiming to advance and extend the maiden resource with a new MRE update.
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Cornish Metals Inc - mineral exploration and development company, focused on the South Crofty tin project in Cornwall - Says mine dewatering has been underway since early November and is progressing well with up to 25,000 metres cubed per day of water being pumped and treated from South Crofty mine. Progress is good, with the water level in the mine currently ahead of projections despite the recent wet weather. Maintains guidance of 18-months to complete dewatering of South Crofty mine to the 400-fathom level.
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Genflow Biosciences PLC - London-based biotechnology company focused on longevity - Announces two significant new research programmes in collaboration with Revatis SA and EXO Biologics, backed by substantial non-diluting and non-reimbursable research grants by the government of Wallonia in Belgium. Funding for the two research programs, as part of the Wallonia Recovery Plan by the Walloon government in Belgium, will be disbursed annually, contingent upon Genflow and its collaborators achieving specific, activity-based milestones. Continued receipt of the grants by Genflow is dependent on the parties meeting predefined criteria each applicable year.
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Net Zero Infrastructure PLC - special purpose acquisition company focused on renewable or clean energy technology companies - Signs non-binding letter of intent with QuiaPEG Pharmaceuticals Holding AD, by which NZI will be granted a licence to the IP of QuiaPEG for a period of 12 months with an option to purchase the IP at the end of the 12 month period. The acquisition would constitute a reverse takeover under the UK Financial Conduct Authority’s listing rules. QuiaPeg is a drug development company based on a patented drug delivery platform, Uni-Qleaver, and the company develops improved and patentable forms of drugs under development or already approved by regulatory authorities. QuiaPEG’s shares trade on Nasdaq First North Growth Market.
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Alba Mineral Resources PLC - northern Europe-focused mineral explorer - Succeeds in dewatering the Lower Llechfraith workings, its principal gold target at the 100% owned Clogau-St David’s gold mine in north Wales down to No.4 Level. Will now proceed to carry out a risk assessment on No.4 Level in respect of any further safety works which may be required there; commence preparatory works including the washing down of walls; and plan and execute initial exploration work (mapping, sampling, 3D scanning) on No.4 Level.
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Zenith Energy Ltd - Africa and Italy-focused oil and gas company - Updates regarding the development of Cyber Apps World Inc, a US listed company which Zenith acquired majority control of in August 2023. On January 16, CYAP bought a 5% royalty interest in a package of seven producing wells located in the Eagle Ford Shale, Lavaca County, Texas. Plans further acquisitions of this kind.
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