The newsflow appears to be accelerating at Chaarat Gold (CGH), the AIM-quoted gold mining company with an operating mine in Armenia, and assets at various stages of development in the Kyrgyz Republic.
It announced the completion of the Bio-oxidation first phase metallurgical test programme performed by SGS Lakefield on its Kyzyltash gold project. The project has an unconstrained JORC-compliant Measured, Indicated and Inferred sulphide resource of 5.4 million ounces of gold at 3.8 g/t. Management estimate that the project has the potential to produce approximately 300koz per annum of gold subject to the project meeting its feasibility, permitting and development milestones. Yesterday Chaarat said it was in the early stages of making a possible bid for Shanta Gold (SHG).
Shanta Gold (SHG) confirmed that it has received approaches from Shandong Gold Group Co., Ltd, Yintai Gold Co., Ltd and Chaarat Gold Holdings Ltd which may or may not result in an offer for the Company, Shanta further confirmed that based on further discussions, any offer from Yintai is also likely to be solely in cash.
Corcel (CRCL), the natural resource exploration and development company, announced that it has signed an exclusive 45-day option to acquire 100% ownership of the “Mt Weld (P38/4489) Project,” a granted mineral tenement, located only 1.4 km (0.9 miles) west-north-west of Lynas Rare Earths Limited’s (ASX: LYC) Mt. Weld REE Mine near Laverton in Western Australia. The Project covers 171 hectares in size and the tenement straddles the mine access road to Lynas’s Mt. Weld Mine.
Technology Minerals (TM1), which is focused battery metals, announced that it has signed binding Heads of Terms to acquire the remaining issued share capital of Recyclus Group Limited for new shares in the Company. The Company currently holds 48.35% of the issued share capital of Recyclus.
IOG (IOG), the Net Zero UK gas and infrastructure operator, provided a Phase 1 operational update. The company said drilling the Southwark A1 well has continued to be very challenging with further fluid losses at the base of the Bunter Shale. To preserve the opportunity to deliver first gas in this quarter, it has decided to suspend operations on A1 in order to ensure that A2 stimulation work proceeds in the scheduled window. Its plan to resume, complete and produce A1 after bringing A2 onstream.
Trinity Exploration (TRIN), the independent E&P company, provided an update on operations for the three-month period ended 30 September 2022. The Company said it maintained robust production in the Period, leading to a 25% increase in operating cash flow. The first two wells of the six-well, fully-funded onshore drilling campaign were brought into production during the Period. These wells commenced production at an initial aggregate rate of approximately 113 bopd. The third well in the programme has subsequently been drilled successfully and is in the process of being completed, with production anticipated to commence within the next two weeks.
Oracle Power (ORCP), the international natural resources project developer, announced the appointment of thyssenkrupp Uhde to lead the technical and commercial feasibility study for the green hydrogen and ammonia project, being developed by Oracle Energy Limited. The study is planned to commence shortly with the final report expected to be delivered in H1 2023. Oracle’s share of the cost for the study is expected to be funded from current cash resources. Oracle Energy is targeting a 400MW capacity green hydrogen production facility, with annual production of 55,000 tonnes of green hydrogen.
Europa Oil & Gas (EOG), the AIM traded oil and gas company, announced that it has repaid in full the £1,000,000 loan facility provided by Union Jack Oil (UJO) which was announced on 9 September 2022. The Loan was secured against a 10% interest in the Wressle field (PEDL180 and PEDL182), and this security will now be released at which point the Company will be completely unencumbered and debt-free.
Cloudbreak Discovery (CDL), a natural resources project generator, announced that it has completed a reconnaissance surface programme at the Foggy Mountain Project in the Toodoggone region in north central British Columbia, located immediately east of the past producing Kemess Mine. The Property was initially generated and staked in April 2022.
Cambridge Cognition (COG), the digital solutions to assess brain health company, announced that it has won a £1.1m contract with a major pharmaceutical company to provide electronic clinical outcome assessments and hardware for a rare blood disease study running over the next two years. The new contract, with an existing customer, is for a mixture of eCOA licenses, services and hardware to support an upcoming clinical trial.
Mast Energy Developments (MAST), an operator in the Reserve Power market, announced an update regarding the 9 MW Pyebridge Synchronous Gas-powered Flexible Generation Facility. The company said it was very pleased with the latest performance data coming out of Pyebridge, which have significantly exceeded expectations and prove that our rigorous optimisation process implemented on the Site earlier this year has been worthwhile.
Chesterfield Resources (CHF) announced that it has signed an Agreement with Pacton Gold Inc, a TSX-V listed exploration company with regard to Chesterfield’s Adeline project in Labrador. The agreement is conditional, inter alia upon the approval by the relevant authorities at the TSX Venture Exchange, and a successful equity raise by Pacton.
First Class Metals (FCM), the UK metals exploration company, announced the issue of two Exploration Permits for the Company’s Sunbeam Project including ‘Sunbeam Extension’ located in the Ramsey-Wright Townships, in the Superior Province of the Canadian Shield, Ontario. The permits are effective for a period of three years until expiry on the 13th of October 2025.
Trellus Health (TRLS), a chronic health conditions solutions group, announced that the Trellus Resilience Training and Self-Management Solution for Inflammatory Bowel Disease is now available on GI OnDemand, gastroenterology’s leading multidisciplinary virtual integrated care platform.
Valereum (VLRM) said it has been asked by Aquis Stock Exchange to clarify the position concerning our change of advisor: Peterhouse resigned as the Company’s adviser, with immediate effect on 13 October 2022. First Sentinel Corporate Finance were able to take over immediately because the Company and FSCF were already in discussions concerning their appointment as adviser. All of this appears to be rather straightforward.
LifeSafe (LIFS), a fire safety technology business, has been notified that on 17 October 2022, Paul Jameson, Chief Operating Officer, disposed of 25,750 shares in the Company to facilitate personal financial planning, and that the shares were acquired on the same date by Dominic Berger, Executive Chairman. Berger now has 4% of the company.
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