COP26 is due to begin at the end of next week in Glasgow where world leaders will meet and decide upon policies that will affect our planet.
It is expected that the UK, as the host, will reconfirm its pledge to have net zero emissions by 2050 and significant reductions by 2030. There is reportedly already division over some key issues particularly the use of coal with some nations not willing to try to phase it out as a fuel source any earlier, which directly contends with the aim of limiting temperature rise to 1.5 degrees Celsius above pre-industrial levels.
Pope Francis and President Biden have met up at the Vatican ahead of the summit where they will reportedly discuss “tackling poverty, Covid-19 and climate change”. Xi Jinping is slated not to attend in person but will instead attend by video link, creating concern that China won’t change its current plans for reducing emissions, which have been criticised as not doing enough.
Client news:
New client Quantum Exponential Group, a company focused solely on investment opportunities in quantum technology and the wider quantum computing sector,
Katoro Gold plc (AIM:KAT), announced that the intention to seek admission for 100% of the Blyvoor Joint Venture project, by vending each of their separate interests into a new company to be listed on the Standard List of the London Stock Exchange:
Harvest Minerals Limited (AIM:HMI) announced that it has exceeded its total FY21 sales target of 80,000 tonnes of KP Fértil®, over two months, ahead of schedule.
Caracal Gold plc (LSE:GCAT), has announced the release of its updated corporate presentation, which is now available on its website: www.caracalgold.com.
Tirupati Graphite plc (LSE:TGR), announced the publication of its inaugural Sustainability Report. Setting out the company’s sustainability strategy and commitment to strong environmental, social and governance (ESG) business practices, the report is available on the Company website: www.tirupatigraphite.co.uk.
Oracle Power plc (AIM:ORCP) announced that the Department of Mines Industry Resources and Safety has approved the programme of work for drilling of the five target areas defined at its 100% owned Jundee East Gold Project.
It was also invited to a ceremonial signing of the non-exclusive co-operation agreement with PowerChina International Group Ltd on Saturday 23rd October to jointly develop the first green hydrogen production facility in Pakistan, further endorsing the support the have from the government.
Contango Holdings Plc (AIM:CGO) A has released an update on recent activities at the Garalo-Ntiela Gold Project Area in Southern Mali. Aeromagnetics and airborne geophysics for the collection of magnetic and radiometric data has been completed and analysed, supporting the Project’s accelerated development into production The survey also targeted some untested areas within the Project area, particularly at Ntiela where exploration work earlier in 2021 yielded very encouraging results. The Company believes the results of the survey reconfirm the expected extensions of the G1 and G3 deposits, the main targets used to support the potential 2Moz resource.
Prospex Energy PLC (AIM:PXEN) provides an update on the Selva field development project in Italy, in which the Company holds a current 17% interest, following an announcement on the ASX by the operator, Po Valley Energy. Following a review of the tie-in execution plan with pipeline operator SNAM, the operator has been informed that the estimated time to complete the tie-in would delay first gas to 1H 2023. The tie-in to the gas grid can only be done by SNAM in accordance with the Italian gas network code and the delay is, in part, as a result of supply chain disruption due to COVID-19 impacts. Po Valley Energy also advises that there is an increased cost estimate of approximately 15% for related materials.
The investment in the surveillance in the El Romeral wells has delivered valuable data regarding the status of the wells and the reservoirs.
In other news:
Car rental giant, Hertz, is making a huge bet on electric vehicles — and bringing Uber along for the ride.
Microsoft has overtaken Apple as the world’s most valuable company.
COP26: What is the Glasgow climate conference and why is it important?
