RNS Hotlist with Zak Mir, 7th January 2022, RRR, ARB, PTR & SYS1 via Vox Markets

Red Rock Resources (RRR), the natural resource development announced the results of the first batch of 950 samples from its recently completed 2021 phase 1 RC drilling exploration programme in the mid KKM prospect at the Mikei Gold Project.

By Zak Mir

The company said the first nine holes were extremely encouraging, and take it some way towards its objectives for the programme. Seven of the drillholes intercepted gold mineralisation, including five at good grades.

Crypto miner Argo Blockchain (ARB), delivered an operational update for December 2021. Argo mined 214 Bitcoin compared to 185 BTC in November. This brought the total amount of BTC mined in 2021 to 2,045 BTC. Mining revenue in December amounted to £7.82 million (November 2021: £8.29 million.) The company’s Helios Mining facility in Texas remains on time and the main structure, outside facade, and roof have now been completed. The next phase of construction and build out of essential infrastructure are ongoing, with a projected completion date in the first half of 2022.

PetroNeft (PTR) an oil and gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, provided a financing update. The company has reached agreement with the five lenders to extend the term of the remaining convertible loan balance of $0.455 million (originally $1.3 million extending the Maturity date from 31st December 2021 to 31st December 2022. The interest rate is to remain at 8% above LIBOR. The remaining loan balance may be converted fully at Stg0.06p per Ordinary Equity Share in PetroNeft, at any time up to the revised maturity date at the option of the loan holders.

System1 Group (SYS1), the marketing decision-making platform, is commencing a share buyback programme, using the company’s existing cash resources to make market purchases of System1 ordinary shares for an aggregate value of up to £0.75 million in order to enhance shareholder returns and to satisfy obligations in relation to employee share schemes.

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