RNS Hotlist with Zak Mir: UKOG, DRUM, KAT, CORO, LST, NCCL & KAV via Vox Markets

UK Oil & Gas (UKOG) announced that acquisition of the Phase 2 seismic programme over its Turkey Resan licence (UKOG 50% interest) has now been successfully completed and the field crew demobilised.

Author @ZaksTradersCafe

The programme, consisting of four new 2D seismic lines over the possible updip western extent of the Basur-1 oil discovery and Prospect B to the south, was delivered ahead of schedule and under budget.

Drumz (DRUM), which is focused on investment in the technology sector, announced its interim results for the six months ended 30 June 2022. The Group’s results for the six months ended 30 June 2022 showed revenue of £30,000 (2021: £18,000) and an operating loss of £184,000 (2021: loss of £261,000). The company said the improvement in the number and the quality of the sales leads Acuity is now generating is a growing testament to the progress that has been made.

Katoro Gold (KAT), the AIM-listed gold and nickel exploration and development company, announced its unaudited interim results for the six months ended 30 June 2022. The company said moving into the second half of 2022, it is in the process of assessing various new projects to further diversify its portfolio and unlock value-based opportunities that align with its strategy of being a preeminent African-focused gold and mineral exploration and development company. At present, the company is already in advanced discussions with a number of parties with regard to the new projects under assessment.

Coro Energy (CORO), the Southeast Asian energy company, announced its unaudited interim results for the six-month period ended 30 June 2022. The company said it has a strong funding position from a combination of its cash position of approximately US $1.6m (as at 30 June 2022), supported by the free cash flow from its Italian Portfolio and the Vietnam solar pilot, which is expected to be operational later this year.

Light Science Technologies (LST), the controlled environment agriculture group, updated on progress on its contract with Zenith Nurseries Ltd (“Zenith Nurseries”) to develop a cloche lighting and sensor technology system. The company announced that the project’s first milestone, Gateway 1 – to develop the cloche lighting system and demonstrate viability – is now complete, resulting in revenue of £51,000 for the group.

Ncondezi Energy (NCCL) announced the restructuring of the Seritza Limited working capital facility term loan to a convertible loan note has been finalised, subject to shareholder approved. A convertible loan is to be increased by an additional £100,000, made available by certain Directors of the Company, to accelerate development of the Solar Project. An additional tranche of £150k may be made available to the company at the Convertible Loan lender’s discretion in the six months following the restructuring.

Kavango Resources (KAV) announced the completion of the acquisition of 65pc of the LVR Joint Venture. This takes Kavango’s holding in the LVR JV to 90pc. The LVR JV incorporates prospecting licences PL082/2018 & PL 083/2018, which together cover 809km2 of ground highly prospective for copper/silver discoveries in the Kalahari Copper Belt.

Author @ZaksTradersCafe

Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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