CleanTech Lithium (CTL), a company involved in the exploration and development of three lithium projects in Chile, announced the successful completion of the Placing and Retail Offer. The Fundraising raised gross proceeds of approximately £12.3 million and was upsized due to investor demand.
Orosur Mining (OMI) announced an update on the progress of exploration activities at the its Anzá Project in Colombia. The company said PEP001 was clearly a spectacular result, but being only the first hole, caution was warranted. It is encouraging therefore that further holes have confirmed this first result and it eagerly awaits results from better positioned holes that are currently underway to get a better sense of the scale of what appears a most exciting prospect.
Valereum (VLRM) confirmed that it is continuing constructive discussions with the Gibraltar Financial Services Commission regarding the closing of the transaction. These discussions on the regulatory change of control of the GSX are constructive and solid progress is being made. As stated previously, Valereum’s management team is working towards completing the acquisition and will update the market when significant news arises.
Corero Network Security (CNS), a provider of real-time high-performance, automatic Distributed Denial of Service cyber defense solutions, announced significant enhancements to its SmartWall Threat Defense Director in partnership with Juniper Networks, a key strategic sales partner for Corero.
Corcel (CRCL), the natural resource exploration and development company, announced that its wholly owned subsidiary, Niugini Nickel Pty Ltd, has submitted an application over currently vacant ground in Papua New Guinea totalling 136 graticular sub-blocks or c. 464 km2.
Rambler Metals and Mining (RMM), a copper and gold producer, announced its reconciled operational results for Q3 2022, with the exception of gold values which are awaiting final assay results for September 2022. The company said operational performance has continued to improve once again to deliver increasing payable copper production of 1,654 tonnes Cu. Although working capital constraints held it back at the end of September, it has finished the Quarter well placed to deliver 2,000 tonnes of copper in the final quarter of 2022. The company said it is in conversations with several groups to restructure its finances.
Hummingbird Resources (HUM) provided an operational, finance and trading update for the third quarter to 30 September 2022. The company said despite the disappointing production numbers, Q3 was a quarter of progress in addressing the root cause of the issues which Yanfolila has faced over the last twelve months in particular.
Ncondezi Energy (NCCL) provided an update on the integrated Ncondezi 300MW power and mine project in Tete, Mozambique. The company said that following an internal review it has resolved to launch a process to identify a suitable organisation who can take the lead on further developing, financing and mining its coal resources whilst it focuses on developing its Solar Project and renewable energy strategy.
Vast Resources (VAST), the AIM-listed mining company, announced a 20% overall increase in Q3 production from its Baita Plai Polymetallic Mine in Romania. The company said this has been a successful period which has seen it achieve the uptick in production from September. It is planning for further increases in the remaining weeks of Q4, and again in Q1 2023 and onwards.
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