FastForward Innovations Ltd (AIM: FFWD) has invested a further AUD$2,765,000 in its portfolio company, Little Green Pharma, an ASX-Listed, vertically integrated, medicinal cannabis business with operations from cultivation and production through to manufacturing and distribution. The Investment is to part fundraise for the acquisition of a fully operational GACP cultivation and GMP licensed medicinal cannabis asset in Denmark. FFWD’s holding now represents 3.15% of LGP’s enlarged issued share capital.
The investment further develops FFWD’s exposure to the medicinal cannabis industry and the Danish acquisition is in line with LGP’s EU expansion strategy and provides platform to leverage LGP’s early mover advantage in key EU markets. This new facility acquisition positions LGP as a leading global pure play medicinal cannabis producer and owner of one of the largest cannabis production assets in Europe.
Further more, FFWD have released part of their investment in Portage Biotech which has resulted in a return of some four times our original investment.
Ferro-Alloy Resources Limited (AIM:FAR) welcomed the final results for the year ended 31 December 2020.
2020 saw Ferro-Alloy’s progress towards the expansion of the existing operation and has continued to work towards their main goal of developing the world-leading Balasausqandiq project. Progress has been made with the feasibility study and infrastructure improvements despite the ongoing challenges resulting from the Covid-19 pandemic. Highlights included increased production of vanadium pentoxide by 56% to 237 tonnes and revenue increased to US$2.4m (2019:US$1.8m).
Moreover, the Company has received notice of further investment of US$7 million by Vision Blue Resources Limited. FAR is taking this news as a vote of confidence in the project by their strategic investor Vision Blue Resources.
Vast Resources Plc (AIM: VAST) welcomed the appointment of a new corporate broker, Shore Capital Stockbrokers Limited, with immediate effect. Shore Capital will act as joint broker with Axis Capital Markets Limited. VAST are hopeful that the experienced corporate advisory and broking team will build further awareness of the Company amongst an institutional investor base. Andrew Hall, the CCO of Vast Resources plc, commented that they “are delighted with the appointment of Shore Capital as Joint Broker to the Company. We look forward to working with the team at Shore Capital.”.
Jangada Mines Plc (AIM: JAN) has provided an update that the Brazilian National Mining Agency has granted a trial mining license which allows for the extraction of up to 300,000 tonnes of Ferrovanadium bearing material per year for its 100%-owned Pitombeiras Project in Ceará State, Brazil. This grant was approved within three months of application and represents a significant development milestone for JAN. The Executive Chairman of Jangada, Brian McMaster, commented that “This outcome is a result of our solid development strategy and communication with local authorities about the quality of our project and the benefits to the local community and regional development.”.
Zinnwald Lithium Plc (AIM: ZNWD) held its annual general meeting which provided an update on activities across its portfolio. Such news included achieving 100% ownership interest in Deutsche Lithium GmbH and thus advancing the Company’s Lithium Project in Germany. The Non-Executive Chairman, Jeremy Martin, was pleased to comment that Zinnwald Lithium Plc “are positioned to be an important supplier of value-added downstream battery grade lithium products and look forward to updating the market on our progress as we achieve further milestones advancing the Project.”.
Other updates consisted of the expanded license footprint in Germany following the grant of the Sadisdorf license in Saxony and the ongoing rationalisation of the Company’s portfolio enabling management and cash resources to be focused on Zinnwald Lithium Project.
Prospex Energy PLC (AIM: PXEN) announceed that the majority of holders of 2018 Loan Note agreed to rollover into a new unsecured 2021 Loan note, with terms largely remaining the same as 2018 Loan note save for the 18-month extension to repayment dates and an increase in interest rate by 2%. The Board is content that the high uptake of rollover reflects progress made across European gas and power portfolio.
Harvest Minerals Limited (AIM: HMI) provided a Q2 update on sales of its organic, multi-nutrient, direct application fertiliser, KP Fértil®, from its 100% owned Arapua Fertiliser Project in Brazil. Highlights of which included sales being 12% higher than management target representing a 174% increase in total tonnage compared to Q2 the previous year, meaning 2021 Q2 sales performance keeps the Company on track to meet 2021 overall sales target. In addition, the Company have launched a new marketing campaign to further step-up sales of KP Fértil® for coffee, sugarcane, and other crops launched in May 2021.
Europa Oil & Gas (AIM: EOG) has entered into a Memorandum of Understanding with Causeway Geothermal Ltd to assess the potential of the West Firsby oil field as a geothermal test and commercial deployment site for sustainable, clean geothermal energy systems. Europa Oil and Gas is confident that West Firsby is regarded as an ideal geothermal energy test site due to comprehensive dataset, existing well bores and geothermal gradient, therefore potential to convert onshore legacy oilfields into sources of clean and reliable energy forms part of Europa’s ESG strategy.
Trident Royalties Plc (AIM:TRR) has made further advancements by entering into a $10 million secured loan facility agreement with a syndicate managed by Tribeca Investment Partners. The facility will support TRR’s already strong balance sheet by providing additional capital to promote continued growth and diversification of their royalty portfolio following completion of the Thacker Pass lithium royalty transaction in March.
ScotGold Resources Ltd (AIM: SQZ) has provided an update on mine production and processing performance at their Cononish Gold and Silver Project, Scotland. The high-grade ore zones have been accessed far quicker than anticipated and the processing has an on-going roll out of a Risk Analysis approach targeting continuous operations. Second gold concentrate shipment has also been planned.
You may have missed…
Watch Europa Oil & Gas Holdings PLC’s (EOG) Simon Oddie, in discussion with Proactive about assessing the potential of the West Firsby oilfield as a geothermal test and commercial deployment site.
Ferro-Alloy Resources plc (FAR) Ceo, Nick Bridgen, interviews with Proactive UK and Directors Talk to explain the significance of the investment made by Vision Blue Resources.
In the news this week…
Volkswagen are the latest company to explore the potential of Flying cars in the race for the skies.
A suspected tornado in Barking tore down garden walls in East London.
Google doodle celebrated the Wadden Sea’s UNESCO anniversary.
The Royal Family have unveiled a new memorial commemorating the People’s Princess as this week marked the late Princess Diana’s 60th Birthday