Quantum Blockchain Technologies (AIM: QBT) wishes to provide shareholders with an update regarding the Company’s ongoing legal claims.
The company said it that although its main focus remains on its disruptive Bitcoin mining R&D Programme, it is pleased with the outcome of the legal defence in the Sosushi UK Claim which proved that the claimants’ position had no merit. The progress and timetable of the Sipiem claim and Sosushi Italian Claim both of which are expected to conclude by the end of the year.
Pensana (PRE) said that following the recent ground-breaking ceremony at the Saltend rare earths processing hub, it was announcing details of the highly experienced Project Delivery Team which will be responsible for the delivery of the Saltend and Longonjo projects. The company said breaking ground at Saltend was a major milestone marking the transition from design to construction for both projects. It is enormously grateful to the expert teams who have done such a great job in bringing the Saltend and Longonjo projects to FEED status in record time.
Marula Mining (MARU) an African focused mining investment company, updated on the Blesberg Lithium and Tantalum Project in South Africa. Work programs have commenced and include a major bulk sampling program on the lithium and spodumene stockpiles and metallurgical testwork to finalise process plant designs and optimise the previous process flowsheet designs, aimed at the production of a lithium concentrate product suitable for the international export markets. The company said that Blesberg is well placed to be developed as a long-term and sustainable lithium mining operation, particularly given its many positive attributes.
IGas (IGAS) confirm it has completed its scheduled six-monthly RBL facility redetermination process. The redetermination exercise confirms $22 million (£18.1 million) of debt capacity. Cash balances as at 29 July 2022, were £2.4 million with net debt of £8.2 million. The company said higher commodity prices continue to drive strong operating cash flow generation giving it financial flexibility. Since year-end, it has repaid c.£4 million of debt.
Love Hemp Group (LIFE), the brand-led consumer goods company, provided an unaudited sales and operational update for the full year FY 22 financial period. Sales of £3.6m are down 16% from prior year at £4.3m. H2 sales of £1.9m are 11% up from H1 sales of £1.7m. The company said it will continue to drive for sales growth in FY23 with organic growth expected in both its DTC and its retail sales channels. The successful inclusion of 34 products onto the novel foods product register should result in solid growth in the Company’s B2B channels and further increases in building brand equity. As a direct result, the company has already recently agreed new major retail listings and Love Hemp anticipates launching a range of its products in these new stores and respective online platforms in calendar Q4 of 2022.
Revolution Beauty Group (REVB) the multi-channel mass beauty innovator, announced a change to its full year results announcement date and a trading update. The company said while it has been impacted by near-term economic and political headwinds, it remains confident in the strength of its long-term strategy and the significant growth opportunities. In particular, it remains focused on innovation and the development of new categories while continuing to further build brand awareness, especially in the US. It said this has been a period in which we have strengthened our market position and built sales across geographies, despite the unprecedented macro-economic backdrop.
Rockfire Resources (ROCK), the gold and base metal exploration company, announced that ongoing mapping and rock sampling at the company’s 100%-owned Plateau gold deposit in Queensland, Australia, has identified multiple new targets close to the drilled JORC gold resources. The company said it continues to target additional near-surface, open-cut gold at Plateau. Planned drilling is expected to expand shallow gold resources. Soil sampling, rock sampling, geological mapping and geophysics confirm the presence of additional gold targets close to the edges of an intruded breccia (shattered rock), where the previously drilled 208,000 ounces of gold resource is positioned.
Panther Metals (PALM) the company focused on mineral exploration in Canada, announces the completion of conditional placing, at a price of 5.5p, raising gross proceeds of £1,148,000. The proceeds will primarily be used to fund exploration drilling work in Canada with the primary focus on diamond drilling (up to 3,000m total planned) at the Obonga Project where current permits allow diamond drilling over five separate high prospective multi-commodity targets.
Ascent Resources (AST), the onshore Hispanic America and European focussed energy and natural resources company, announced an agreement of PG-10 and PG-11A hydrocarbon revenues and update on its previously announced JV and operator disputes in Slovenia. The company said it was very pleased to have agreed recognition of seven figure historic production revenues from the PG-10 and PG-11A wells. This is a material development as it continues to unlock the legacy commercial stalemate with its partners in Slovenia.
Castillo Copper (CCZ), a base metal explorer, announced that several rounds of preliminary metallurgical test-work on BH1 drill-core (The Sisters Prospect; East Zone) produced excellent beneficiation results for cobalt-copper-gold. The company said it was pleasantly surprised upon learning of the exceptional metallurgical results, especially nearly 4 g/t gold and 1.6% copper which provide new dynamics to follow up. However, its current prime focus is to increase the confidence in the inferred cobalt resource with a highly targeted drilling campaign across several prospects, with planning to be finalised shortly.
Helium One Global (HE1), the primary helium explorer, updated on progress at its Rukwa (100%) project area in Tanzania including details of its planned 2022 drilling campaign. The company said The challenge of finding a suitable rig for its next drilling campaign at Rukwa Tanzania has been compounded by increasing demand from the large and medium size oil and gas companies resulting in a scarcity of rigs and ancillary well evaluation equipment available for the East African market. These challenges have been largely overcome and is pressing ahead with its planned Phase II drilling programme, completing the audit process on the Rig and agreeing availability for provision of integrated well services.
SDX Energy (SDX), the EMEA-focused energy company, announced the spudding of the MSD-27 infill development well on 21 July 2022 at the Meseda Field, West Gharib concession, Egypt (SDX WI: 50%). MSD-27 is targeting the primary Asl Formation reservoir at around 3,900 feet MD (3,100 feet TVDSS) and is the sixth well in a fully-funded, 13 well development campaign on the Meseda and Rabul oil fields. The company said the spudding of MSD-27 came only seven days after its announcement of drilling operations completing on the previous well drilled by this rig, MSD-23, and indicates the accelerated rate of drilling that it is now achieving.
C4X Discovery (C4XD), a Drug Discovery company, provided a business update on the continued progression across its Drug Discovery portfolio: The company said its partnered portfolio has continued to deliver over the past few months, most notably with the first milestone payment from Sanofi for our oral IL-17a inhibitor to treat inflammatory diseases. It remains well positioned for growth as multiple partnerable assets in the pipeline continue strong progression.
Tower Resources (TRP), the AIM listed oil and gas company with its focus on Africa, announced it has raised £1,499,999 through a placing at 0.175p. Jeremy Asher, Chairman and CEO, is in the Placing to the tune of £250,000 – leading from the front.
Gamma Communications (GAMA), a provider of Unified Communications as a Service, announced a trading update for the six months ended 30 June 2022. The company said it remains positive about the prospects for Gamma. In line with the statement made at the time of the AGM, management expects adjusted EBITDA and adjusted EPS for the year ending 31 December 2022 to be in the upper half of the range of market forecasts.
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