Orcadian Energy (ORCA), the North Sea oil and gas development company, provided an update of its applications in the 33rd Offshore Licensing Round which closed last week.
The company said it made three licence applications, two in partnership with other companies and one on its own. It is anticipated that Orcadian will hear as whether its licence applications have been successful before the end of third quarter 2023 and a further announcement will be made at that time.
Baron Oil (BOIL), the AIM-quoted oil and gas exploration and appraisal company, announced that, as a joint venture non-operating partner, it has submitted an application in the UK offshore 33rd Round of licensing, conducted by the UK North Sea Transition Authority. The Licensing Round attracted 115 Bids across 258 Blocks or Part-blocks.
Technology Minerals (TM1), the battery metals specialist, announced results from detailed lithogeochemical sampling has yielded high-grade spodumene pegmatite samples in float ranging up to 3.75% lithium oxide at Prospecting Licence Area (“PLA 1597”) in County Carlow, Republic of Ireland. The company said the results continue to demonstrate the high-grade nature and size of the boulders in the material being sampled as well as expanding the known extent of the spodumene pegmatite boulder train at Knockeen and Carriglead.
Future Metals NL (FME) provided its Quarterly Activities and Cashflow Report for the quarter ended 31 December 2022. The company said its exploration model continues to be validated with positive results showing the identification of magmatically emplaced disseminated sulphides for the first time at Panton. This mineralisation provides significant evidence that there is a Ni-Cu-PGE sulphide system encasing and underlying the existing reef-style mineralisation that makes up the current 6.9Moz PdEq JORC MRE.
Cordel Group (CRDL), the Artificial Intelligence platform for transport corridor analytics, announced unaudited preliminary results for the six months ending 31 December 2022. The company said interim results show a return to growth compared to the corresponding period last year, as it benefited from long term contracts secured earlier. It is pleased by the market’s recognition of its technology advantages and confident it will add new contracts as 2023 progresses.
Zephyr Energy (ZPHR), the Rocky Mountain oil and gas company, provided an update on operations on the State 36-2 LNW-CC well at the company’s flagship project in the Paradox Basin, Utah, U.S. Drilling of the well commenced on 20 November 2022, with the prime objective to target potential production from the Cane Creek reservoir. The company said whilst it is in an early phase of assessment, previous wells in the Paradox Basin which successfully targeted natural fractures have historically been prolific production wells.
Centaur Media (CAU), an international provider of business information, training and specialist consultancy, provides a trading update ahead of publishing its results for the full year ended 31 December 2022 on 15 March 2023. The company said Centaur continues to perform well despite the macroeconomic uncertainty that characterised 2022 for its customers. The Group’s strong balance sheet and sustainable cashflows have given the Board the confidence to return over £4m to our shareholders.
Scotgold Resources (SGZ), Scotland’s first commercial gold producer, provided its Q4 2022 results for the period 1 October 2022 to 31 December 2022 and its strategy and outlook for 2023 for its Cononish Gold and Silver Mine in Scotland. The company said its strategy is to optimise value at Cononish – 2023 focused on achieving sustainable and continued ramp up to 2,000 ounces of gold per month with a target AISC of £610 per ounce in Q4 2023 with the mine running an average grade through the processing plant of c.12g/t Au year to generate increased cash generation.
ReNeuron Group (RENE), a UK-based R&D organisation, announced that it has undertaken a restructuring of the business. Headcount has been reduced by 40%, the overall variable costs of the business lowered and, as a result, the cash runway now extends into 2024 with all resources being directed towards generating in vivo data and validating the company’s exosome delivery technology platform CustomEX™.
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