Wildcat is working on a proprietary and innovative model to monetise hydrocarbon blocks based on Blockchain Technology. The model is currently in development and hopefully, by the end of 2021, the final version will be launched.
Crown Energy has oil blocks in Madagascar, South Africa, and Iraq. These blocks potentially contain 2.5 billion of barrels of oil equivalent of prospective and contingent oil resources. The two parties believe there may be scope to tokenise these prospective oil resources.
2.35pm: Kibo eyeing waste-to-energy projects in the UK
The company said it has commenced an extensive due diligence process in relation to the potential acquisition of all or part of a prospective portfolio of UK renewable energy projects.
The opportunity consists of several attractive stand-alone renewable energy projects in the UK, focusing on the generation and/or storage of electric power from renewable generation sources. The portfolio consists of several waste-to-energy projects in which the company has negotiated exclusivity and a first right to acquire, subject to successful due diligence results and an agreement on commercial terms and conditions.
1.40pm: EQTEC share price heats up after results
The shares were up 7.5% at 72p after the company said it expects revenues will rise to around €15mln in 2021 from €2.2mln in 2020, shifting it into the black.
Revenue in 2020 grew to €2.23mln from €1.69mln in 2019 while the loss before tax widened to €5.84mln from €3.58mln, partly reflecting an increase in administrative expenses to €3.69mln (2019: €2.67mln) and employee share-based compensation in 2020 of €1.30mln.
12.45pm: Maestrano heads south after contract delay
The company operates an artificial intelligence platform that analyses transport issues said the quarter (Jan – Mar) was affected by a “major weather event” in Australia that delayed acceptance for airframes delivered to the Australian Government.
The revenue will now be recognised in the current quarter.
11.50am: Pantheon plunges as drilling results disappoint
The market was unimpressed at the intermittent flow rate of up to 100 barrels of oil per day, which Pantheon conceded was a disappointing rate.
The company added that the Kuparuk formation proved more geologically complex than expected.
10.55am: Gemfields sparkles as Kagen mine ramps up to full-tilt
Gemfields Group Limited (LON:GEM), up 12% a7 8.125p, sparkled early doors after announcing the results of its recent emerald auction.
The gems, all extracted before operations at the Kagem emerald mine were suspended in March 2020, raised US$31.4mln at an average price of US$115.59 per carat.
It is expected that mining operations at Kagem will ramp back up to full scale by the end of April 2021.
10.00am: Yourgene and Genedrive boosted by Public Health England diagnostics announcement
Yourgene Health PLC (LON:YGEN) was 8.3% higher at 16.25p after its Coronavirus (COVD-19) testing services got the seal of approval from Public Health England.
The molecular diagnostics group has been awarded a framework agreement under Public Health England’s National Microbiology Framework for Lot 1 (Diagnostic Goods and Services) of the four-lot tender for Yourgene’s Clarigene SARS-CoV-2 assay and Manchester-based COVID testing service.
“We expect the award to support business development outside the scope of this agreement with a growing network of commercial partners, addressing privately funded testing in healthcare and workplace settings,” said Lyn Rees, the chief executive officer of Yourgene.
The successful tender was made under Lot 1 of the National Microbiology Framework (Diagnostic Goods and Services).
The shares were up 9.6% at 73.45p.
9.05am: Equiniti in play
Siris has submitted a non-binding proposal to acquire the shares at 170p a pop.
Further announcements will be made in due course, but [blah blah blah] there can be no certainty that a formal offer will be made, Siris said.
Proactive news headlines
NFT Investments PLC (LON:NFT) said it has filed an application with OTC Markets Group for its shares to be traded on the OTCQB Venture Market, which it said will make its stock more widely available to investors in North America.
Shanta Gold Ltd (LON:SHG) has completed a further 3,590 metres of drilling at the New Luika gold mine in south western Tanzania and the West Kenya project in Kenya. As a result indicated resources at the Luika underground deposit have increased by 76,461 ounces, before the depletion of first quarter mining activities is taken into account.
Greatland Gold PLC (LON:GGP) has announced results of its final four drill holes from the 2020 drilling campaign at its 100%-owned Scallywag licence, with multiple new targets identified for further drill testing. Greatland’s 2021 drilling in the Paterson region is expected to commence in the coming weeks.
Guild Esports PLC (LON:GILD) said it had won its second major trophy after its Rocket League team achieved first place in the Rocket League Championship Series (RLCS) EU Spring Regional, held on 15-18 April.
Metal Tiger PLC (LON: MTR) said the board of its joint venture Kalahari Metals Ltd (KML) has approved a major drilling programme on the Kalahari Copper Belt.
4D pharma PLC (LON:DDDD; NASDAQ:LBPS) said it will collaborate with Parkinson’s UK as it continues to advance into clinical trials a drug that treats neurodegenerative conditions such as Parkinson’s.
Live Company Group PLC (LON:LVCG) said the new date for the Pick ‘n Pay Cycle Tour, which was due to take place in Cape Town, South Africa, in March, has now had its new date confirmed for October 10.
Empire Metals Ltd (LON:EEE) lost £572.989 in the year to 31 December 2020. The company had cash in the bank as at 16 April 2021 of £1.23mln. Non-executive chairman Neil O’Brien said that for Empire 2020 had been a “year of significant forward momentum.”
Power Metal Resources PLC (LON:POW) secured a further short extension to its option to acquire First Development Resources (Pty) Ltd, an Australian private company with copper-gold exploration interests in the Paterson Province in the Pilbara region of Western Australia.
Mosman Oil and Gas Ltd (LON:MSMN) told investors it started the workover of the Duff-2 well at the Greater Stanley project in Texas. The Duff-2 well will be recompleted in a zone which is in production at the adjacent Stanley field.
Caledonia Mining Corp PLC (LON:CMCL, NYSE:CMCL) said gold production was lower than anticipated in the first quarter at its Blanket mine in Zimbabwe due to flooding, although it still expects to meet its output target for the year. “Gold production has often been lower in the first quarter of each year and increases in the following quarters,” said chief executive Steve Curtis.
Bushveld Minerals Ltd (LON:BMN) has reported an unofficial work stoppage at its Vametco vanadium operation in South Africa. The action has been taken in regard to lower than expected payments under the terms of a recently signed employee participation plan.
United Oil & Gas PLC (LON:UOG) announced that its full year results for the period ending 31 December 2020 will be published on Monday 26 April 2021. Management will host a shareholder call that day at 12.00 BST and will be taking questions.
Bango PLC (LON:BGO) announced that warrants have been exercised over 210,074 new ordinary shares of 20p each, with an exercise price of 180 pence per share. Proceeds of £378,133 have been received by Bango in respect of this warrant exercise.
Greencoat UK Wind PLC (LON:UKW) notified investors that, due to government guidance in relation to COVID-19, the location of its annual general meeting has been moved to the offices of Greencoat Capital LLP in London.