Greatland Gold (GGP), a mining development and exploration company, noted the release of an ASX announcement by Newcrest Mining Ltd earlier today providing an update on the Havieron Joint Venture.
Greatland said it will retain 30% ownership in the company’s flagship asset and believes this outcome delivers substantial medium to long term value to Greatland. Greatland had previously made a non-binding offer to Newcrest to acquire for $85m a 5% stake in Havieron which, still presented a financially compelling outcome to Greatland shareholders.
Altona (ANR), a mining exploration company, announced it has conditionally raised £1.1 million, via a placing at 8p. The funds will be deployed to complete a JORC compliant maiden resource estimate at the company’s flagship Monte Muambe Rare Earths mining project, in northwest Mozambique, which is expected to be published in Q1 2023. The funds will also allow the Company to complete a Preliminary Economic Assessment and Scoping Study at Monte Muambe, which is expected in Q2 2023.
Sabien Technology Group (SNT), the company focused on a green aggregation strategy, announced that it is working closely with City Energy1 and EDF Plc to obtain SAP2 approval for its M2G Cloud gas reduction technology. SAP approval will expand Sabien’s reach for the M2G product line into the residential/domestic market via district heating schemes and increases it current addressable market by 3 times.
Kinovo (KINO), the specialist property services, announced its full year results for the twelve months ended 31 March 2022. Revenue from continuing operations increased by 35% to £53.3 million (2021: £39.4 million). Adjusted EBITDA from continuing operations up 102% to £4.2 million (2021: £2.1 million). Kinovo said it is in a strong position moving into FY23, with the revenue and EBITDA growth achieved last year continuing into Q1.
First Tin (1SN), a tin development company, announced that it has commenced the Definitive Feasibility Study at its Tellerhäuser tin deposit in Saxony, Germany. German consulting company, DMT GmbH & Co. KG has been appointed to undertake the DFS.
Beowulf (BEM), the mineral exploration and development company, announced its unaudited financial results for the six months ended 30 June 2022. The company said that during the quarter, Kallak has been the real focus; Ulla Sandborgh joining the Company as CEO of Jokkmokk Iron was a major step forward. SRK have been contracted to complete the Scoping Study; having previously been engaged in 2017, the SRK team has deep knowledge of the project.
It would appear that not all companies are suffering the massive liquidity crunch in small caps. Advanced Oncotherapy (AVO), the developer of next-generation proton therapy system for cancer treatment, announced an equity fundraise of £1,465,000 before expenses. The fundraise has been conducted at 25p. The company said this Subscription has been undertaken to accommodate demand from investors who were unable to participate in fundraises announced on 28 June 2022 and 3 August 2022 (together c.£6.57m).
Yesterday Valereum (VLRM) announced that, conditional only upon the listing of Vinanz Ltd on a recognised stock exchange it will sell its Bitcoin mining assets to Vinanz Ltd in exchange for fully paid ordinary shares in the company representing a holding of approximately 24%. The final holding will depend on the amount of the capital raised as part of the listing.
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