Australia / Zambia base metal explorer Castillo Copper (CCZ) said that all logistics are now in place for drilling to commence at the prime Arya Prospect in September 2021.
By Zak Mir
Castillo’s added that its geophysicist consultant has re-interpreted historical aero-electromagnetic and electromagnetic data, which shows the 130m-thick EGO1 anomaly is shallower than initially estimated and verifies the Arya Prospect is a major target in Mt Isa’s copper-belt of Queensland, Australia.
Life sciences business developing compounds to tackle obesity, Optibiotix (OPTI), announced that its wholly-owned subsidiary, ProBiotix Health Ltd, has extended the territories of its original agreement with Seed Health, for the production, promotion, marketing and commercialisation of products containing LPLDL®. The agreement extends the territories from the USA, to include the countries within Europe, Oceania, and Asia (excluding India) for the supply of LPLDL® in SeedTM’s DS-01 product, which contains OptiBiotix’s Lactobacillus plantarum LPLDL®. DS-O1 received FDA authorisation for an Investigational New Drug (IND) in October 2020 for IBS applications.
AIM-listed mining company, Vast Resources (VAST) provided a comprehensive summary of the refurbishment works undertaken at Baita Plai Mine both on the underground infrastructure, and on the processing plant. Significant work has been undertaken on the underground infrastructure including the replacement of 1,200 metres of main hoisting cable across three shafts. In addition, there has been the compiling of standard operating procedures for underground activities, training of mechanised equipment operators and lighting installed in high activity areas.
Prospex Energy (PXEN) announced the acquisition of further working interest in Selva. The conditional acquisition of an additional 20% interest in the Selva gas field in Italy for €2,164,701 means that Prospex’s holding will increase to 37%. The transaction is set to add a further 2.7 billion cubic feet of 2P gas reserves to Prospex’s portfolio and increase its share in Selva’s 2P gas reserves to 5bcf. Prospex said its debt advisers are already engaging in providing a funding package focused primarily on a loan facility.
Perhaps not surprisingly, United Oil & Gas (UOG), through its subsidiary, UOG Holdings, said it has signed a conditional sale and purchase agreement with PXOG Marshall Limited, a subsidiary of Prospex Energy (PXEN), for the sale of 100% of the share capital of UOG Italia Srl for a consideration of €2.165 million in cash. The effective date of the transaction is 1 January 2021.
Diamond explorer Botswana Diamonds (BOD) said that four high-quality diamonds and abundant kimberlitic indicators were recovered from drill samples at the recently discovered River Kimberlite Extension at Thorny River in the Limpopo Province of South Africa. The company said it is unusual to recover diamonds from a small sample of narrow reverse circulation drill holes, and so this bodes well for the potential of the Thorny River project.
West African agriculture company Dekel Agri-Vision (DKL) provided a July production update for its 100%-owned Ayenouan palm oil project in Côte d’Ivoire and an update on the timing of the commissioning of our large scale cashew processing plant at Tiebissou, Côte d’Ivoire. 3,047 tonnes of CPO were sold in July 2021, 67.5% higher than July 2021 as stock on hand post the high season was sold into a buoyant local CPO market. Local CPO prices continued to increase to a 2021 monthly high of €949 in July 2021, an 89.0% increase in average realised CPO prices compared to July 2020. At its Cashew Project construction has continued to advance, and commissioning of the Cashew project will start in September 2021.
International green technology company Verditek (VDTK) updated the market following the closing of its corporate “green” bond. The company confirmed that a total of £353,253 has been raised through crowdfunding platform Crowd for Angels including the £250,000 raised as previously announced on 1 June 2021. The offer for the bond closed on 31 July 2021 and a statutory “cooling off” period ended at 5pm on 9 August 2021.
Pre-clinical antibody discovery group Fusion Antibodies (FAB) announced its final results for the year ended 31 March 2021. Highlights here were the commercial roll out and revenues from Rational Affinity Maturation Platform, investment in R&D increasing by 57% from prior year, and full year revenues increased by 7% to £4.2m (2020: £3.9m). A loss for the year of £2.9m (2020: loss £0.7m) was set against a £3.0m equity fundraise.
Tower Resources (TRP) said that it has executed a binding Heads of Agreement in respect of a farm-out to Beluga Energy of a 49% non-operating working interest in its Thali Production Sharing Contract in Cameroon. The farm-out covers $15 million towards the cost of the NJOM-3 well that Tower is planning to drill on the Thali block. Beluga will receive a 49% working interest in the PSC, while the well cost is currently expected to be approximately $16.8 million, of which approximately $3 million has already been spent.
It would appear that luxury interior design and furnishings group, Sanderson Design (SDG) continues to head in the right direction. It has signed a licensing agreement in the US for its Morris & Co. brand with Williams Sonoma, America’s market leader in high quality kitchenware. Sanderson said the agreement, which covers a broad range of tableware, cookware and kitchen accessories, marks the group’s first major licensing agreement in the US and further develops its licensing strategy.