Wishbone Gold (WSBN) announced that it has acquired 100% of tenement application E45/ 6456 (Cottesloe East) covering 19 blocks (62km2) in the Paterson Range, Western Australia.
The Cottesloe East tenement is contiguous to the Cottesloe Project (E45/4543) which is already owned by Wishbone, and brings the total project area to 50 blocks covering an area of 165km2. This has been acquired by staking the ground for a total cost of A$50,000. Wishbone said the silver and lead present in Cottesloe are critical for the production of batteries and thus for the push into electric vehicles across the world. Combining the Cottesloe and Cottesloe East Projects creates a substantial holding with historic impressive drilling results providing a solid basis for further exploration.
Upland Resources (UPL) announced the appointment of Professor Andrew Hurst to the Upland Board of Directors as a Non-Executive Technical Director. The company said he is joining the Upland Resources team at what it believes is an inflection point for the company. Operations are now gearing up across a number of fronts and Hurst’s experience and credentials complement its forward-looking strategy.
Longboat Energy (LBE), the emerging full-cycle E&P company, announced the award of new licences under the Norwegian 2022 APA Licensing Round (Awards in Predefined Areas). The company said these additional, low-risk licences could add substantial value to two of its core areas where Longboat has already discovered significant volumes during 2022.
Creo Medical Group (CREO), the medical device company, provided a trading update for the year ended 31 December 2022, including an overview of its commercial and clinical progress. The company said against the backdrop of challenging macroeconomic conditions, 2022 was a year of significant operational progress for Creo. It is expecting to report revenues and underlying EBITDA for the year in-line with market expectations.
Surface Transforms (SCE), manufacturers of carbon fibre reinforced ceramic automotive brake discs, provided a pre close trading and operations update for the year to 31 December 2022. Revenue for FY22 grew 113% to £5.1m (2021: £2.4m). The company said this was less than previously guided, reflecting some highly specific, but cumulatively significant, production issues at the company in late November and December as volumes were ramped up.
Blencowe Resources (BRES) announced it has received an approval from the Ugandan Ministry of Energy and Mineral Development to export materials from its Orom-Cross Graphite Project to Chinese testing facilities to enable final bulk metallurgical test work to be undertaken in 2023. Blencowe has mandated Jilin Huiyang New Material Technology Company Ltd to complete this test work in their existing pilot plant facility, which negates the requirement for the company to build its own bulk testing facility on-site in the near term.
ATOME Energy (ATOM), the green hydrogen and ammonia production company, announced the entry into a mandate letter with the multi-lateral IDB Invest. ATOME said IDB Invest’s mandate is an important step in the matrix of its funding strategy, complementary to the ongoing work with Financial Advisor Natixis and reflective of the increasing incoming interest shown by credible substantial parties in funding Villeta at the project level.
Cornish Metals (CUSN) reported drill results from eight drill holes drilled in the Carn Brea South exploration area, located along the southern boundary of the South Crofty underground permission area. The drill holes confirmed up-dip, near-surface, extensions of the historic Great Flat Lode and discovered tin mineralisation in a new target called the “Wide Formation”, inferred to lie parallel to, north of, and beneath the Great Flat Lode.
Nightcap (NGHT) announced a positive trading update for the 13 and 26 weeks ended 1 January 2023, with record trading weeks across the group, despite the significant train strikes held across the UK during the key Christmas trading weeks. Unaudited Group revenue was £12.9 million for Q2 FY2023, resulting in a 60.9% increase compared to Group revenue of £8 million for Q2 FY2022 and a 4.7% like-for-like increase compared to the same period in FY2022.
Europa Oil & Gas (EOG), the oil and gas exploration, development and production company, provided an operational update on its current activities and the outlook for 2023. The company said the Wressle oilfield continues to outperform expectations and complements production from operated assets at Crosby Warren and West Firsby and its interest in Whisby, to provide valuable cashflow to fund the ongoing development of its asset base.
UK Oil & Gas (UKOG) announced that the Resan JV (UKOG 50% working interest) has identified and plans to drill in Q1 2023, a new potential shallow oil accumulation, Pinarova, of some 9 km² areal extent, located 6 km north of the Basur-1 oil discovery. The company said Pinarova’s prospectivity, potential success case volumes and modest drilling costs make it an attractive short-fuse project worth pursuing. It is actively supporting its operator AME to get Pinarova-1 drilled as soon as practicable in 2023 and, if successful, either Pinarova-2 and/or a Basur-4 appraisal well drilled from a new site 1 km west of the Basur-1 discovery.
Argo Blockchain (ARB), a cryptocurrency mining group, provided an operational update for December 2022. The company said that while mining results for December were lower than anticipated, the primary driver was the winter storm which led us to curtail operations at Helios. The transactions with Galaxy streamlines the company’s operations. Argo maintains ownership of its entire fleet of mining machines, and Galaxy will host the fleet of Bitmain S19J Pro machines at Helios.
Deltic Energy (DELT), the AIM-quoted natural resources investing company, announced that Shell, the Operator of exploration well 41/05a-2 on Licence P2252 (Shell 65%, Deltic 30%, ONE-Dyas 5% Working Interests), in the Southern North Sea has reported that gas has been encountered in the reservoir and has recommended to the JV that a full well testing programme be undertaken.
Kibo Energy (KIBO), the renewable-energy-focused development company, announced the appointment of Beaumont Cornish Limited as the company’s London Stock Exchange AIM Market Nominated Adviser with immediate effect. Accordingly, the company expects trading in its shares on AIM to resume with effect from 7.30am today.
Physiomics (PYC), the consultancy using mathematical models in medicine solutions, announced that it has entered into a further contract with its existing client Cancer Research UK. The company said the follow-on project will be contracted directly with Cancer Research UK and represents the second such directly contracted project following the award completion last month.
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