DeepVerge (AIM: DVRG), announced that Gerard Brandon, Executive Director with responsibility for the Modern Water Division, has resigned and will leave the Company with immediate effect to enable him to devote more time to his other business commitments.
Dr Nigel Burton, Interim Chief Executive, commented: “The Company and Board welcome Paul Ryan to his new role, and are grateful for the significant contribution that Gerry has made to the development of the Company since 2018.”
Reabold (RBD) updated on the ISS Proxy Analysis & Benchmark Policy Voting Recommendations. ISS reiterated the Reabold board’s recommendations to VOTE AGAINST ALL of the proposed resolutions. In the view of ISS, the requisitioners failed to make a compelling case for changes to the Board of Reabold.
While we wait M&A developments, Shanta Gold (SHG), the East Africa-focused gold producer, updated for the West Kenya Project. The company said the recent drilling results from West Kenya continue to confirm the high-grade nature of this deposit, with visible gold identified across several of the intersections. It expects to provide a resource update before the year end at the Isulu and Bushiangala deposits, whilst it should also provide a mineral resource update for Ramula in January.
SolGold (SOLG) announced that it has entered into a binding agreement with Osisko Gold Royalties Ltd for a $50 million royalty financing with reference to the Company’s Cascabel copper-gold project in northern Ecuador. Osisko will receive a 0.6% NSR interest from SolGold, calculated with reference to net smelter returns from the Cascabel licence area. SolGold has a buy-back option, exercisable at SolGold’s election for four years from closing, for one-third of the NSR interest.
Joules (JOUL), the lifestyle group, updated in regard to its turnaround plan, and current trading and financial position. The Company remains in discussions with its lender in relation to a waiver of certain financial covenants in its existing facilities and on its medium-term financing, including a review of covenants, to support the turnaround plan.
CleanTech Lithium (CTL), focused on sustainable lithium projects in Chile, announced it is expanding its current investor relations programme to promote the Company with shareholders, investors and the media in Germany, Switzerland and Australia. CTL said it noted that there has already been some trading in the Company’s stock through the Frankfurt Stock Exchange.
Bens Creek Group (BEN), the metallurgical coal mine group, announced that preliminary production from the new permit area has been encouraging following commencement of mining on this area at the end of October 2022. The Company was able to produce 2,500 tons of run of mine coal in a single day with a higher clean coal recovery of 62%.
Rosslyn (RDT), the provider of cloud-based enterprise data analytics platform announced the signing of two multi-year contracts, with new blue-chip customers, worth approximately £1 million in aggregate over five years.
Tern (TERN), the company focused on value creation from Internet of Things technology businesses, note that Wyld Networks AB has announced an equity fundraising of approximately SEK 7.3 million (approximately £0.58 million), before transaction costs.
AfriTin Mining (ATM), an African technology metals mining company, provided an update of its Phase 1 Expansion Project at the Uis Mine. The company said the beneficiation plant is performing well, and the production ramp-up from pre-expansion levels is going according to plan. The potential production of lithium and tantalum by-products is also expected to benefit from the expansion of the throughput capacity of the plant, since these minerals will be extracted from the existing processing streams.
ENGAGE XR Holdings (EXR), a VR technology company, confirmed the official launch of its new metaverse product, ENGAGE Link. The launch completes the transformation of the Group into a metaverse technology company.
Cora Gold (CORA), the West African focused gold company, announce the results of an Exploration Target estimate for the Company’s wider Sanankoro Gold Project in southern Mali completed by independent consultancy CSA Global. The company said the Exploration Target shows the uplift potential for an additional 1.37 Moz of gold over and above our existing 920 koz Mineral Resource at Sanankoro.
Scancell Holdings (SCLP), the developer of novel immunotherapies, announced it has in-licensed the SNAPvax™ technology from Vaccitech plc, a clinical-stage biopharmaceutical company engaged in the discovery and development of novel immunotherapies and vaccines. This agreement will allow Scancell to formulate and manufacture Modi-2, with the aim of initiating a Phase 1 clinical study in cancer patients in 2024.
Brave Bison Group (BBSN), the social and digital media company, announced that it has entered into an agreement with Barclays Bank plc for a new £3mn revolving credit facility. The RCF is a three-year facility with an interest margin of 2.75% over Base Rate. The company said the RCF will provide additional resources with which to pursue Brave Bison’s strategy of acquiring complementary businesses in the digital media, marketing and technology industries.
AFC Energy (AFC), a provider of hydrogen power generation technologies, provided an update on the development of its “flex fuel” methanol development and methanol Fuel Tower concept line. The company said this is an important step forward in the design and delivery of AFC Energy’s Flex Fuel approach to Hydrogen power generation. There are many remote locations where economic supply of hydrogen fuel is not possible and where hydrogen carrier fuels such as ammonia and methanol will play an important role to support the decarbonisation of industry.
ATOME Energy (ATOM), the green hydrogen and ammonia production company, announced the entry into a non-binding Memorandum of Understanding with Puma Energy Paraguay S.A. in relation to hydrogen in Paraguay.
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