It would appear that the recent significant share price re-rate has been telling us that Firering (FRG) has hit the big league in the lithium space.
This point was underlined by the latest 64m Intercept @ 1.24% Li2O in the company’s first lithium assays. The company said the result was exceptional and amongst the best intercepts recently reported by its global peers, confirming the presence of lithium in its pegmatite system. It looks forward to announcing the remaining assay results in the coming weeks, in particular the results for holes 18 and 19 for which significant pegmatite intercepts with visible spodumene were previously announced.
Canadian Overseas Petroleum (COPL), an international oil and gas company, announced its financial results for the three month period ending September 30, 2022. The company The Company said it was evaluating debt facilities with multiple US and International Banks to secure a term sheet to refinance COPL America’s $42 million Senior Credit Facility and close the outstanding hedges, which run to February 2024, currently estimated to cost $11 million.
United Oil & Gas (UOG), the oil and gas company, announced an update on the testing of the ASH-4 development well in the Abu Sennan licence, onshore Egypt. United holds a 22% non-operating interest in the Abu Sennan licence, which is operated by Kuwait Energy Egypt. The company said it was very pleased with the news of the ASH-4 initial well test result. It is expected that the well will be brought onstream in the coming days and will immediately contribute production and revenue.
BrandShield Systems (BRSD), a provider of cybersecurity solutions for brand oriented digital risk protection, announced that it has raised gross proceeds of £1.75 million (approximately $2 million) pursuant to the Placing and Subscription.
Orcadian Energy (ORCA), the North Sea oil and gas development company, announced that the North Sea Transition Authority has granted Orcadian a one-year extension to licence P2244, which contains the Pilot field. The Second Term of licence P2244 was due to expire at the end of November this year but will now expire at the end of November 2023.
Rambler Metals and Mining (RMM), a copper and gold producer, announced it has taken a forward sale position for 750 metric tonnes of copper over a 12-month period at a price of $8,330 per tonne. This represents a nominal 11% of expected future copper production from the Ming Mine, subject to completion of the 2023 budget.
Technology Minerals (TM1), which is focused on battery metals, announced field exploration work is advancing on schedule on the North-West Leinster Lithium Project, with a particular focus on Prospecting Licence Area 1597. The company said it was pleased the exploration campaign at the Leinster Project in Ireland is progressing well, where previous work has confirmed high-grade lithium in spodumene pegmatites. The current programme, which is expected to be completed by the end of November.
Quadrise (QFI), the supplier of MSAR® and bioMSAR™ emulsion technology and fuels, announced the extension of the Exclusive Global Collaboration and Emulsifiers Sales Agreement with Nouryon, a global specialty chemicals leader, for the exclusive supply of goods, services and IP for future MSAR® and bioMSAR™ projects. The Agreement will now run for a further three years to October 2025.
Destiny Pharma (DEST), a clinical stage innovative biotechnology company, announced the commencement of an Investigational New Drug (IND) enabling safety study with its novel XF-73 Dermal formulation.
There was delicious news from BSF Enterprise (BSFA), a biotech solutions company, as it announced that its wholly owned subsidiary, 3D Bio-Tissues, has successfully produced three small prototype fillets of cultivated meat. BSF said this is a major step forward toward 3D Bio-Tissues’ objective of producing the UK’s first full-scale cultivated meat fillet, which it expects to showcase in the coming months.
It would appear that the Government has plenty of cash to splash – when it comes to spending cash on itself. Made Tech (MTEC), a provider of digital, data and technology services to the UK public sector, announce that it has been awarded a new contract with the Home Office, worth c.£10 million to the Group over a 24-month period with a six-month extension option worth a further c.£2 million.
Castillo Copper (CCZ), a base metal explorer, announced that assays from seven drill-holes across the Fence Gossan and Tors Tank Prospects, within the BHA Project’s East Zone, confirmed a significant shallow clay-hosted Rare Earth Element discovery. The company said it was delighted the assays confirm a new shallow clay hosted REE discovery within the BHA Project’s East Zone. In particular, it noted drill-hole FG_003RC which intersected an aggregate 52m of REE mineralisation. It said that this is a game-changing event for the group.
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