Eurasia Mining (EUA), the precious metals producing company reported its audited financial results and operational summary. The company said that operationally the West Kytlim asset is performing well following a successful winter stripping programme and a subsequent increase in stripping capacity.
The mine is expected to make the switch to hydro-generated grid power later this season and the use of electric draglines, both important developments for sustainable platinum group minerals and gold production through life of mine. There is continued interest in the Company’s assets from potential buyers with a focus on BRICS counterparties.
Powerhouse Energy Group (PHE), the company commercialising hydrogen production from plastic, announced its audited results for the year ended 31 December 2021. During the period PHE signed Collaboration Agreement with development partner, Hydrogen Utopia International (HUI) with prospect of a plastics to hydrogen project at Konin, Poland. The company said that in 2021 its focus was the continued support of its plastics to hydrogen DMG Technology being implemented by Peel NRE at its Protos Energy Park in the UK.
Genflow (GENF) announced that Tamara Joseph and Dr Guy-Charles Fanneau de la Horie will join the Board as Independent Non-Executive Directors with immediate effect. The company said that both of these new appointments will greatly support growth and deeply strengthen and enhance the capital markets experience at board level, and will furnish the Board with broad and relevant experience of US listed biotech companies.
Asiamet Resources (ARS) announced that the due diligence undertaken by PT Delta Dunia Makmur Tbk. (DOID) including the first phase diligence by a bank recommended Independent Technical Expert (ITE) has been completed for the BKM copper project, located in Central Kalimantan, Indonesia. The company said that having now completed extensive diligence on the BKM copper project with DOID, Asiamet is in a strong position heading into project financing. This extended diligence process has also allowed it to incorporate the recommendations of the proposed ITE into the feasibility update currently being undertaken by NewPro and hence fast track a key component of the financing process.
SDX Energy (SDX), the MENA-focused energy company, announced the spudding of the MSD-23 infill development well on 24 June 2022 at the Meseda Field, West Gharib concession, Egypt (SDX WI: 50%). MSD-23 is targeting the primary Asl Formation reservoir at around 4,000 feet MD (3,200ft TVDSS). MSD-23 is the fifth well in a fully funded, 13-well development campaign on the Meseda and Rabul oil fields in the West Gharib concession.
Ariana Resources (AAU), an AIM-listed mineral exploration and development company, announced its final audited results for the year ended 31 December 2021. The company said reinforcing its strategy is the backstop of a successful producing mine at Kiziltepe. This has provided $177 million of revenue to its investee company, Zenit Madencilik, to the end of 2021 and has exceeded production guidance for the fifth year running (since inception of operations in 2017). Profitable operations and strong cash flow capabilities are necessary in the long-term to sustain its business, and will enable it to grow and maintain an ongoing dividend stream.
Enwell Energy (ENW), the oil and gas exploration and production group, announced its audited results for the year ended 31 December 2021. Revenue was $121.4 million (2020: $47.3 million), up 157% as a result of significantly higher gas prices and increased production. Gross profit $73.9 million (2020: $15.7 million), up 371% and operating profit of $66.2 million (2020: $9.8 million), up 576%.
Serinus Energy (SENX) announced that the two-well exploration programme in Romania continues to progress towards commencement of drilling. The roads and drilling platforms at both the Canar-1 well and the Moftinu Nord-1 well have been completed, including the installation of the drilling conductor pipe at both locations. The drilling rig inspection and certifications have been completed and final acceptance and rig mobilization is expected to be completed the week 4-7 July. Permitting for both wells is nearing completion with all permits expected to be granted imminently. The drilling of the Canar-1 well is expected to commence on schedule in mid-July, and once drilling is completed, the rig will move to the Moftinu Nord-1 location and commence drilling.
Avacta Group (AVCT), a clinical stage oncology drug company, announced that the first-in-human Phase I trial (ALS-6000-101) of AVA6000 Pro-doxorubicin will advance to the third dose cohort following a positive review of the safety data from the dosing of the second cohort.
Predator Oil & Gas (PRD), the Jersey-based Oil and Gas Company, announced its audited financial statements for the year ended 31 December 2021. Post period highlights included 295 BCF of Contingent Gas Resources likely to be commercially viable supported by independent CPR. EIA approval for MOU-4, MOU-5 and MOU-NE and a civil works contract awarded for the construction of the MOU-4 well pad.
Deltic Energy (DELT), the AIM quoted natural resources investing company, announced that Shell UK Ltd, the Operator of Licence P2252, has confirmed that a rig contract has been signed for the drilling of the Pensacola exploration well.
Tertiary Minerals (TYM), the AIM traded mineral exploration and development company, announced that the Company has received positive laboratory assay results from its first drill programme at the Jacks Copper Project in Zambia, where it is earning a 90% joint venture interest. There has been significant copper mineralisation intersected in all four diamond drillholes.
Oxford Cannabinoid Technologies (OCTP), the pharmaceutical company, announced a trading update for the eleven-month period ended 30 April 2022. The company said that trading during the Period was in line with expectations, reflecting good progress across all of its drug development programmes providing increased visibility of its roadmap to phase one clinical trials, which are expected in Q4 2022 and Q1 2023, for OCT130401 and OCT461201 respectively. OCTP said that by strengthening relationships with key industry partners and targeted research, it has refined its development pathway further.
Mila Resources (MILA), the post-discovery gold exploration accelerator, announced that further positive assay results have been received from Stage 1 drilling at the Coffey Deposit, the flagship target at the Kathleen Valley Gold Project in Western Australia. The company said the objective of the drill programme is to build on the existing JORC Inferred Resource and unlock the full potential of the project, which is located in a region which hosts some of the largest gold projects in Australia and which is adjacent to Bellevue Gold’s discoveries.
Firering Strategic Minerals (FRG), an exploration company focusing on critical minerals, released its Final Results for the year ended 31 December 2021. The company said the last seven months have been “transformational.” The funds raised when we listed in November 2021 have been instrumental to the significant progress made on the ground. It has engaged contractors and starting, what will be a two-year long exploration campaign at Atex.
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