Canadian Overseas Petroleum (COPL) announced an extension to the previously announced Purchase Agreement to acquire the United States assets of Cuda Energy LLC.
It was agreed to extend the outside date for closing the Cuda Acquisition to the 25th of July 2022. This extension is made while the company and its financier conclude definitive documents that will fund the cash component of the Cuda acquisition.
Castillo Copper (CCZ), a base metal explorer, announced that preliminary metallurgical test-work on samples from drill-hole BO_318RC at the Big One Deposit1 (NWQ Copper Project, Mt Isa copper-belt) delivered encouraging initial results. The company said it was delighted with the preliminary metallurgical test-work results, especially with the beneficiation potentially transforming the ore from the Big One Deposit into a viable copper concentrate. Moreover, receiving these initial results now is timely as the Board is now ramping up efforts to secure a processing agreement and clear path to market.
Feedback (FDBK), the specialist clinical communication company, announces that as part of its strategy to move the Company’s operating model away from low margin legacy PACS contracts, it is no longer providing PACS services for Royal Papworth Hospital NHS Foundation Trust. The Company has maintained the Cadran PACS service to support the Trust during a transitional phase whilst it identified a replacement provider and will continue to support the migration of underlying PACS data to the incoming provider, under contract until January 2023. The potential role of Bleepa at the site remains open as the Trust embeds with the new provider.
Marula Mining (MARU), updated on the quarterly activities of the company for the three-month period ending 30th June 2022. The company said it has been an incredibly busy quarter that has seen positive changes take effect. The quick advancement of its exploration initiatives at both the Nkombwa Hill and Blesberg Projects further supports the Company’s commitment to achieving its new strategy as set out in Q1 2022.
Tungsten West (TUN), the mining company focussed on restarting production at the Hemerdon tungsten and tin mine in Devon, England, has concluded a re-evaluation of the options for bringing the Hemerdon Mine back into production and announced its new development plan. CEO Max Denning will leave his role.
Genflow Biosciences (GENF), a UK-based biotechnology company focused on longevity and the development of therapies to counteract the effects of aging and diseases associated with advanced age, announced that that Eric Leire, a director of the company, purchased 308,999 shares at 3.03p. The company listed its shares earlier in the year at 8p.
Photo-Me International plc (PHTM), the instant-service equipment group, announced its results for the six months ended 30 April 2022. Revenue was up 21.9% to £115.3 million (H1 2021: £94.6 million), resulting mostly from the continued easing of Covid-19 related restrictions across the Group’s key operating markets and subsequent positive impact of increased demand for passports and other official documentation EBITDA increased by 40.1% to £40.2 million (H1 2021: £28.7 million). The company also unveiled a special dividend.
Blencowe Resources (BRES) announced results of the Pre-Feasibility Study it has been conducting at its flagship Orom-Cross Graphite Project in Uganda. The company said these results highlight an exceptional long-life project that delivers considerable returns over an initial life of mine period of fourteen years. In addition, the PFS indicates an initial capital requirement that has been lowered by 23% since the Preliminary Economic Assessment (“PEA”) announced in 2021. The PFS has been delivered in conjunction with leading graphite technical expert Battery Limits Pty Ltd who have managed several other leading graphite project feasibility studies worldwide.
Horizonte Minerals (HZM) which is developing two Tier 1 nickel projects in Brazil, announced the signing of a milestone agreement between the Araguaia Nickel Project and Brazil’s leading national industrial training provider Serviço Nacional de Aprendizagem Industrial for host community skills training. Under this agreement, a key component of Araguaia’s Local Content Initiative, the partners will train and develop local community members in core skills required during Araguaia’s construction and operational phases.
Hurricane Energy (HUR), the UK based oil and gas company, provided an update on Lancaster field operations and net free cash balances as of 30 June 2022. As of 30 June 2022, the Company had net free cash of $127 million compared to the last reported balance of $139 million as of 31 May 2022. $78.5 million of Convertible Bonds remain outstanding and are due to be repaid by 24 July 2022. Following the repayment, at the end of July the company is forecasting to be holding net free cash in excess of $75 million.
Kodal Minerals (KOD), the mineral exploration, and development company focused on lithium and gold assets in West Africa, announced its final results for the year ended 31 March 2022. The company said it is in the enviable position of owning 100% of the concessions of which it believes will become one of the most significant lithium spodumene producing projects in West Africa, and the first in Mali. The prices of lithium spodumene have risen exponentially as global demand for this critical mineral shows no sign of abating driven by the green agenda and the EV revolution.
Predator Oil & Gas (PRD), the Jersey-based Oil and Gas Company, announced a drilling and operations update. The company said despite logistical challenges caused by the situation between Russia and Ukraine, we are pleased that we remain on track to drill the follow-up well to MOU-1 during September and October. The Guercif licence area has always represented a unique risk-reward proposition for the Company and its shareholders. This has been reinforced in the last few months as the European energy crisis has taken a firm stranglehold.
Alphawave (AWE), a high-speed connectivity group for the world’s technology infrastructure, is pleased to publish its trading and business update for the three months ended 30 June 2022. The company said its increased pace in design wins and continued technology leadership in demonstrates strong momentum. Despite an uncertain macro environment, positive secular growth trends in data infrastructure, such as data centers and 5G, underpin a growing demand for high-performance connectivity solutions.
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