Shares of Iamfire (FIRE) may be in focus to start the shortened trading week, in the wake of a gala presentation of investee company WeShop at Claridge’s on Friday. The event which was packed with Instagram influencers and professional investors showcased WeShop’s offering which aims to make it a new player amongst the tech giants with its social entrepreneur platform.
Also on Friday, after the market close, Caracal Gold (GCAT), the East African gold producer, announced its interim results for the 12 months to 31 December 2021. The company said its strategy is firmly focused on building production and profitability, with an initial target of realising +50,000oz annual gold production and +3Moz JORC Compliant Resources across its portfolio. A three-phase operational plan is well underway at its flagship Kilimapesa gold mine In Kenya as it looks to increase gold production to 24,000oz pa and improve efficiencies.
Orosur Mining (OMI) said that results from the first reconnaissance geochemical soil sampling program at the La Esfinge prospect at El Pantano have returned highly anomalous results in Gold and several other pathfinder elements, over a 3.3km strike length of the target, with moderate level anomalism over an additional 3.4km of the target. The company said that while preliminary and reconnaissance in nature, these positive results are highly encouraging from a first pass program on a virgin prospect. To now see geochemical anomalism along almost the entire 8km strike gives it “much to work” with moving forward.
Intelligent Ultrasound (IUG), the ‘classroom to clinic’ ultrasound company, announced its unaudited preliminary results for the year ended 31 December 2021, showing a positive year of simulation revenue growth, a small reduction in operating losses and encouraging progress in the clinical AI portfolio, despite the restrictions of the pandemic. Revenue grew by 47% to £7.6m (2020: £5.2m). Operating loss reduced to £4.3m (2020: £4.5m).
Stock market newbie DG Innovate (DGI) said it has received London Stock Exchange’s Green Economy Mark. The company said its advanced high efficiency electric drive systems and sodium based energy storage, represent cleaner more energy efficient and more sustainable solutions for the “electric revolution”.
Rambler Metals and Mining (RMM), a copper and gold producer, said that the employees of its Ming Mine, Nugget Pond Mill and Goodyear’s Cove facilities, are the recipients of the 2021 John T. Ryan National Award from the Canadian Institute of Mining, Metallurgy and Petroleum as the safest underground metal mine in Canada for 2021.
Oracle Power (ORCP), the international natural resources project developer, said that Strand Hanson Limited has been appointed as the Company’s joint broker with immediate effect. Strand Hanson Limited will also continue to act as the Company’s nominated adviser.
Panther Metals (PALM) the company focused on mineral exploration in Canada, said that Panther Australia has completed the 38 hole, 2,500m, reverse circulation drilling programme at the Eight Foot Well Gold Prospect and the drill rig is now moving to the Burtville East Gold Prospect where drilling is due to commence imminently. Drill samples are being submitted for analysis and assay results are to be reported in due course.
Jangada Mines (JAN), a Brazilian focussed natural resource development company, said it has received a number of questions following the release of its Technical Report on 21 April 2022 for the Pitombeiras VTM Project. The company said the results were both “exciting and robust” with a headline 100.3% post-tax Internal Rate of Return, and a $96.5 million post-tax Net Present Value, with a 13-month payback. There are few projects with such a strong IRR, which show no geological, economic, or legal impediment to proceeding to production.
Totally (TLY), a provider of frontline healthcare services, has been awarded three contract extensions to continue to deliver GP out of hours services across the North East of England. The contract extensions, awarded to Vocare Limited, part of Totally’s Urgent Care division, have a total value of c. £4.2 million.
Blencowe Resources (BRES), has engaged with one of the leading worldwide consultancy firms specifically relating to life cycle sustainability and ESG credentials. ERM has led the way in this field globally for some time and their involvement with Blencowe and the company said it will greatly assist it and its two resource projects deliver a more “sustainable pathway” into the future.
Sovereign Metals (SVML) has secured commitments for A$15 million from UK, European and North American institutional investors to subscribe for 22,210,268 new ordinary shares of the Company at an issue price of A$0.67 plus a one-for-two unlisted option with an exercise price of A$0.80 and 12 month expiry.
SDX Energy (SDX), the MENA-focused energy company, announced a gas discovery at the SD-12_East well that targeted a separate compartment in the Sobhi Field, within the Ibn Yunus North development lease.
Mode Global (MODE), the LSE-listed Fintech Group, announced the launch of its Bitcoin Cashback affiliate programme, which will allow Mode users to receive Bitcoin Cashback when they shop online at over 100 brands.
Rockfire Resources (ROCK), the gold and base metal exploration company, announced that reanalysis of historical diamond drill core has verified the high grades reported by previous explorers at the Molaoi zinc deposit in Greece. The company said this verification is a big step towards de-risking the deposit and provides enormous encouragement for the team to move forward rapidly with resource expansion plans.
Vela (VELA), an AIM-quoted investing company, announced its quarterly update for the quarter ended 31 March 2022. As at 31 March 2022 the company’s portfolio of investments was valued at £5,616,000 and comprised equity or loan interests in 12 companies including WeShop Limited and Cornerstone (CSFS).
Europa Metals (EUZ), the European focused lead, zinc and silver developer, announced an operational update in relation to its activities at its wholly owned Toral lead, zinc and silver project in the Castilla y León region, Spain. The company said it continues to progress its work programme on a number of fronts. Following a slight delay, the drill rig is now on site to get its 2022 resource drilling campaign underway, which seeks to target additional resources at depth.
Caerus Mineral Resources (CMRS) and Bezant Resources (BZT), the exploration and resource development companies, provided drill results for the Troulli Project JV. Colin Bird, Chairman of Bezant said these drill results bode well for the addition of further high-grade copper to the Mineral Resource at the Troulli Project with a positive impact on the economics. As exploration work continues and results come in “we are very positive” about the prospects for the Troulli Project which is only one of several joint venture projects.
Echo Energy (ECHO), the Latin American focused upstream energy company, provided a commercial update regarding the Company’s gas sales from the producing Santa Cruz Sur assets, onshore Argentina. The company confirmed that following a successful commercial process for industrial clients, it has secured two new gas sales contracts at significant premiums to 2021 contracted rates.
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