Rainbow Rare Earths Ltd (LON:RBW) has released results from a historic drilling programme at Kiyenzi in Burundi. Two boreholes were analysed and among the highlights were 13.87 metres grading at an average of 4.85% total rare earth oxides and 11.64 metres at an average of 3.86% TREO. A further 1,000 metres of drill core has been sent for analysis to enable rapid evaluation and formulation of comprehensive resource statement.
Arkle Resources PLC (LON:ARK) is examining options for its 23.44% stake in the Stonepark zinc project after it attracted interest from “other industry participants”. Last month, FTSE 100 giant Glencore PLC (LON:GLEN) invested C$1mln in Stonepark operator Group Eleven Resources Corp (CVE:ZNG).
MTI Wireless Edge Limited advanced on Monday as profits for the first nine months of its current year leapt by 44%. For the period ended 30 September, the radio frequency and communications group reported a pre-tax profit of US$2.4mln, up from US$1.7mln a year ago, while revenues climbed 12% to US$29mln.
Fund manager M&G has taken its stake in Bacanora Lithium PLC (LON:BCN) to just under 20% through a share placing at 25p. The US$10mln proceeds will support pre-construction works at the Sonora lithium project in Mexico, which will include bulk earthworks and an upgrade to the primary access road.
IronRidge Resources Ltd (LON:IRR) has returned multiple high-grade reverse circulation (RC) drilling intersections from the latest drilling programme at the Ewoyaa, Abonko and Kaampakrom projects in Ghana, West Africa. A total of 12,669 metres of RC drilling was completed in 97 drill holes for the third phase programme. Among the highlights from Ewoyaa and Abonko were 40 metres (m) grading 1.45% lithium oxide, 34m grading 1.43% Li2O, and 31m at 1.5% Li2O.
Kodal Minerals PLC (LON:KOD) has received its environmental and social impact permit (ESIA) for the development of the Bougouni lithium project in southern Mali. The country’s environment minister has signed off the ESIA, with the company working now on mining assessment and technical reports for a full licence application by the end of 2019.
Ariana Resources PLC (LON:AAU) shares rocketed on Monday after it agreed a potential partnership deal with a major Turkish construction firm for a number of its projects in the country. The AIM-listed explorer said the proposed deal, outlined in a memorandum of understanding (MoU), will involve the sale of 17% of its Salinbas gold project for US$5mln.
Haydale Graphene Industries PLC (LON:HAYD) has raised £450,000 in a share subscription from two existing shareholders to boost its working capital reserves. The graphene technology specialist raised the funds by issuing 22.5mln new shares at a price of 2p each, a 25% premium to its close price last Friday.
Thor Mining PLC (LON:THR) told investors that a second round of drilling has been completed at the Bonya project, in Australia’s Northern Territory. Bonya, 40% owned by Thor, is located adjacent at the company’s flagship Molyhil project. Latest drilling has confirmed tungsten mineralisation in the White Violet area, which is now extended by 40 metres to give a total strike of 120 metres horizontally and up to 110 metres vertically.
Eurasia Mining PLC (LON:EUA) said it continues to progress conversations with investments banks VTB Capital and CITIC Group regarding potential partnerships. The miner said last month the two banks had expressed interest to assist with “strategic options” at its Kola and Urals mining assets.
OPG Power Ventures PLC (LON:OPG), the developer and operator of power plants in India, announced that at its eleventh Annual General Meeting of shareholders held today all of the resolutions proposed were duly passed. The company also confirmed the appointment of Narayanan Kumar as a non-executive director to the board with effect from today. It noted that Kumar is vice chairman of The Sanmar Group, a multinational group, headquartered in Chennai, India, with activities spanning chemical production, engineering and shipping. The group also said its results for the six months to 30 September 2019 will be released on 28 November 2019.
Primary Health Properties PLC (LON:PHP) has agreed a £4.92mln funding deal for the construction of a new primary care centre at Mountain Ash in Wales. The FTSE 250-listed healthcare facility builder said the property, which will contain two GP practices and accommodate 11,500 patients, will be wholly-owned after completion and then let to the Cwm Taf Morgannwg University Local Health Board for an initial term of 25 years.
Open Orphan Plc (LON:ORPH) said it has signed five unnamed pharmaceutical and biotechnology companies as early adopters of its Genomic Health DataBANK platform that is planned for launch in the first quarter of next year. They will ensure it is “fit-for-purpose” ahead of the first patient upload. This builds on the previously-announced collaboration with Empiric Logic, which is working with Open Orphan to complete the product.
Ormonde Mining plc (LON:ORM) told investors that sales of 20-tonne shipments of tungsten concentrate produced from the Barruecopardo mine in Salamanca, Spain, have recently completed with international buyers. Further containers are presently being prepared for sale. These sales are described as important milestones as the Barruecopardo ramp-up continues.
ScotGold Resources Limited (LON:SGZ) has clarified the amounts it has to spend on the exploration of its permits in Scotland. What is in the accounts reflects the potential amount if it retains all 13 licences until 2024, said the junior, and is subject to change as exploration results come in and depending on cash resources.
Sativa Group PLC (LON:SATI) is exploring a potential listing on AIM next year following a number of significant developments for the medicinal cannabis group. Sativa’s possible move from NEX follows a number of senior appointments to the group as it focuses on consumer products containing cannabidiol (CBD), a medicinal chemical derived from cannabis plants.
Tlou Energy Ltd (LON:TLOU) has highlighted that gas flows continue at the Lesedi coal bed methane project, with recent short-term rates seen ‘significantly’ ahead of its previously reported performance. For context, the company has previously told investors that the initial gas flow rates were marked at 20,000 cubic feet per day, from each of the Lesedi-3 and Lesedi-4 production pods. “To date, the company is very pleased with the performance of both wells,” Tlou said in a statement.
Fund manager M&G has taken its stake in Bacanora Lithium PLC (LON:BCN) to just under 20% through a share placing at 25p. The US$10mln proceeds will support pre-construction works at the Sonora lithium project in Mexico, which will include bulk earthworks and an upgrade to the primary access road. Orders will also be placed for the longer lead-time items in the concentrator, pyrometallurgy and hydrometallurgy sections of the lithium plant.
Mosman Oil And Gas Ltd (LON:MSMN) has told investors that production from the Stanley project is now “almost in line with expectations”. Gross production for the month of November to date averages at around 290 barrels of oil per day (bopd), up from 250 bopd at the start of the month. The new Stanley-4 well is planned for February 2020.
Pembridge Resources PLC (LON:PERE) is planning to raise between £3mln and £5mln via a share placing to fund development of the Minto mine in Canada. The placing will price the shares at 12.5p each and is expected to conclude in the next two weeks following a roadshow.
Savannah Resources PLC (LON:SAV) has become a sponsor to FST Lisboa, a team of engineering students from the University of Lisbon focused on the design and build of innovative, lithium-ion battery-powered formula race cars. The AIM-quoted resource development company, which is focused on becoming Europe’s most significant producer of spodumene lithium from its Mina do Barroso Project in Portugal, noted that this season, FST Lisboa includes a team of 43 engineering students, working towards developing their next-generation electric vehicle (EV) prototypes: the 100% electric FST10e, and the driverless FST 10d.
Zoetic International PLC (LON:ZOE) is ready to launch a range of CBD sweets, capsules and cosmetics in the UK in time for Christmas, and is mulling expansion of manufacturing capacity in the US to cope with potential demand from new distribution deals. The beauty products being launching in the first week of December include a hand cream, night cream, facial serum and lip balm, with further product launches planned for next year alongside a broadening of the massage oil that has been on sale since October under the Zoetic brand.
NQ Minerals PLC (LON:NQMI) has doubled the estimate of nickel and cobalt resources in the area surrounding its Hellyer mine in Tasmania. Latest estimates are that the Barnes Hill project contains 14.3mln tonnes grading 0.72% nickel and 0.05% cobalt, which includes the first resources from the Scotts Hill and Mt Vulcan deposits.
In a separate statement, NQ Minerals chairman David Lenigas also said he “sees room for significant improvements through 2020” at the Hellyer base and precious metals project in Tasmania as the company reported that record lead and zinc concentrate production “continued”. In all 55,422 tonnes of ore were unearthed in from November 1 to 23, with grades averaging 2.9% lead, 2.02% zinc, 2.29 grams per tonne (g/t) of gold and 88 g/t of silver.
Shield Therapeutics PLC (LON:STX) said it will be adopting the Quoted Companies Alliance Corporate Governance Code. The QCA champions the interests of the 1,250 small- and medium-sized listed firms in the UK. Its code is described as a “practical, outcome-oriented” approach to corporate oversight.
LIVE Company (LON:LVCG) announced that it has reached agreement with the vendors of Bright Bricks Holdings Limited to settle the deferred element of the acquisition consideration, being £0.833m, in full, through the issue of 1,893,940 new ordinary shares at an issue price of 44.0p each.
Ncondezi Energy Limited (LON:NCCL) has announced that Jacek Glowacki has resigned from his role as a non-executive director of the company with immediate effect due to personal issues.
Cabot Energy plc (LON:CAB), the AIM quoted oil and gas company focussed on creating predictable production growth in Canada, announced that at the Extraordinary General Meeting held on Monday, all resolutions proposed were duly passed. Accordingly, the last day of dealings in Cabot’s ordinary shares will be 2 December 2019, and at 7.00 am on 3 December 2019 trading on AIM of Cabot’s shares will be cancelled.
Allergy Therapeutics PLC (LON:AGY), the fully integrated specialty pharmaceutical group specialising in allergy vaccines, announced that, at its Annual General Meeting held this morning, all resolutions were duly passed.
Ferro-Alloy Resources Limited (LON:FAR), the vanadium mining and processing company with operations based in Southern Kazakhstan, announced that at the Annual General Meeting held on 22 November 2019, all resolutions were duly passed.