GreenX Metals (GRX) and its joint-venture (JV) partner Greenfields Exploration Ltd (Greenfields) are announcing the results of preliminary analysis on three historical samples of native copper nodules from the ARC Project (ARC or the Project) in Greenland.
The best analysis result was for a sample found immediately south of the Discovery Zone, which indicated median copper purity of 99.8%, with 255 g/t silver, 0.004% antimony and 0.000% arsenic.
President Energy (PPC), the international energy company provided an HSE update on its assets in Puesto Flores Concession, Rio Negro Province, Argentina. At 10:25 a.m. on 10 August 2022, President’s battery in its Puesto Flores facility, Rio Negro experienced a fire breakout. Despite minor damage, the tank and storage areas were not affected. President immediately launched an investigation to identify the causes of the incident with the intention to restart the plant without delay.
C4X Discovery (C4XD), a Drug Discovery company, announced a proposed Placing of Placing Shares with institutional investors to raise up to £5.7 million in aggregate before expenses at 25p. The company said these funds will further strengthen the company’s finances as it continues to progress its partnership discussions for NRF2 and to propel the next wave of out-licensing opportunities from C4XD’s drug discovery portfolio of early-stage, high-value small molecule programmes.
SDX Energy (SDX), the EMEA-focused energy company, announced the spudding of the SAK-1 exploration well on the 6 August 2022 at the Lalla Mimouna Sud concession, Morocco (SDX WI: 75%). SAK-1, is targeting the Guebbas Formation reservoir at around 1,108m MD (1,095m TVDSS). The well will also complete the remaining commitment on the Lalla Mimouna Sud Concession.
Roquefort Therapeutics (ROQ), the Main Market listed biotech company, provided an update on the progress of its proprietary Midkine antisense oligonucleotide pre-clinical drug development program, on its patent portfolio and on the Oncogeni transaction. The company said the positive results demonstrate the pre-clinical proof of principle in cancer for its innovative antisense oligonucleotide drug development program and underpin the potential for a first class medicine in the highly valuable solid tumour cancer market. Following these results, the company can progress towards in vivo, and clinical studies.
Artemis (ARV) said it has now completed its review of the new drill results and is pleased to provide investors with additional information which is outlined below. Assay results are pending for drill hole ARC 395 and ARC396 and a further announcement of the assay results for those drill holes will be made when those assays are received. On the basis that this announcement represents a full update to the market, the company has requested that the suspension of its shares from trading on AIM is lifted.
Hurricane Energy (HUR), the UK based oil and gas company, provided an update on Lancaster field operations and net free cash balances as of 31 July 2022 following the lifting of the July cargo. As of 9 August 2022, Lancaster was producing c.8,400 bopd from the P6 well alone with an associated water cut of c.47%. The company has repaid in full its outstanding $78,515,000 7.50 per cent Convertible Bonds plus $1.5 million of accrued interest and is now debt free.
Zephyr Energy (ZPHR), the Rocky Mountain oil and gas company, provided second quarter 2022 results related to hydrocarbon production and cashflows from its non-operated asset portfolio in the Williston Basin, North Dakota, U.S. The company said that in the 15 months since it announced Zephyr’s first non-operated acquisition in the Williston Basin, it has been delighted with the growth and strong cash flows generated from that part of its portfolio. Having completed six discrete acquisitions, its non-operated asset base is a now diverse mix of 195 low-risk, high margin producing wells operated by some of the strongest companies in the Williston Basin. With a further 30 wells expected to come online over the next six months, the platform is demonstrating its capacity for future organic growth.
Great Western (GWMO) announced the completion of its drilling programme at the Mineral Jackpot group of claims in Mineral County, Nevada. The company said this completes an exciting summer drill programme over four of the Company’s many prospect areas, the Southern Alteration Zone (Rock House Group), Trafalgar Hill (Olympic Gold), OMCO Mine area (Olympic Gold) and Mineral Jackpot (Black Mountain Group), with 24 holes drilled totalling 2,798 metres drilled depth. It now awaits assay.
Prospex Energy (PXEN), the AIM quoted investment company, noted an announcement made by Po Valley Energy Limited and provides an update on the costs and schedule to first gas at the Podere Maiar gas field located in the Po Valley onshore in northern Italy, which lies within the Selva Malvezzi production concession. Prospex said it is extremely pleased that the Operator has signed the construction contract with TESI on behalf of the Joint Venture. Signing the TESI contract is an important step for the Joint Venture, as it secures both the costs and the schedule to first gas which is now expected by the start of the second quarter of 2023, some three months ahead of previous schedule estimates.
Ironveld (IRON) announced that, following successful completion of the recent placing to raise gross proceeds of £4.5 million, its team of specialist contractors has now commenced work at the FCF Smelter site in Rustenburg, South Africa. The company said that final contracts for completion of the acquisition are progressing well. Ironveld has been permitted by the Business Rescue Practitioners and the sole creditor to gain access to the smelter facility at this early stage in order to progress with the refurbishment as time efficiently as possible.
Jaywing (JWY), the marketing and data science business specialising in integrated marketing and risk and data consulting, provides an unaudited trading update for the 12 months to 31 March 2022. The company said net revenue for the year ended 31 March 2022 is expected to deliver growth of 16% at £23.3m (2021: £20.2m).
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