While some in the market are still waiting on M&A with regard to Eurasia Mining (EUA), the PGM and battery metals specialist unveiled a detailed mining plan has been completed for the first 5 years of the life of mine of Loipishnune open pit and the West Nittis open pit, both of which form part of the Monchetundra project.
By Zak Mir
The company said Phase One annual metal production has now been calculated to be equal to 128 Koz of palladium equivalent, over 70% higher than the volume projected in the FS. This production volume does not include Monchetundra Flanks and Rosgeo JV projects which will be separately announced.
Environmental and life science group Deepverge (DVRG) announced its unaudited interim results for the six months ended 30 June 2021. The Company grew H1 2021 revenues by 231% to £3.319m (H1 2020: £1.004m). Production orders of £3.6m ($5m) for Modern Water equipment contributed to an increase in inventories at the end of H1, ready to be shipped in H2 2021. The company said it is in the strongest financial position ever with large orderbooks, a strong balance sheet, and a year-on-year history of revenues heavily weighted in H2 over H1 since 2018.
International natural resources project developer, Oracle Power (ORCP) said that, as anticipated following the approval of the Programme of Work, the drill programme is underway at the Northern Zone Gold Project, located 25km east of Kalgoorlie in Western Australia. The first phase is to complete seven Reverse Circulation drillholes up to 260 metres deep, for a total of ~1,500 metres specifically targeting gold mineralisation within a series of stacked porphyry intrusions.
Metals processor Jubilee Metals (JLP) announced significant further progress at its Copper and Cobalt tailings projects in Zambia with the successful execution of three strategic transactions. The company said they significantly increases its beneficial interest across the Company’s copper and cobalt tailings projects in Zambia. The Transactions include Project Elephant, Project Roan and the Mufulira Project. Jubilee is seeking to raise gross proceeds of c. £ 30 million by way of a conditional placing of new ordinary shares at a price of 16.03 pence per share.
AIM-quoted resource exploration and development company, Empire Metals (EEE) announced the outcome of a recent technical review of the geology of the Eclipse Gold Project located within the Eastern Goldfields of Western Australia. The company said it is now evident that the mineralised system at Eclipse is much larger than originally thought. Mineralisation at Eclipse Shaft may connect to the Jack’s Dream area further to the NW, giving a total known strike length of the Eclipse system of some 500m, and the presence of multiple parallel mineralised structures has also been proven.
Medical diagnostics company Omega (ODX) served up an AGM statement, saying that it is well positioned for “exciting growth”, and this remains the case as it moves into the second half of the year. The Health and Nutrition Division continues to show early signs of recovery towards pre-pandemic revenue levels, and in terms of the Global Health Division, it remains optimistic about the long-term prospects for the roll-out of the VISITECT® CD4 Advanced Disease test.
It was take two on the funding front for project management and long dated income specialist Dukemount Capital (DKE). It announced it has successfully signed off an improved subordinated funding package necessary to enable completion of the senior debt funding for the gas peaking projects first announced via its JV with HSKB in March 2021. The company said it has also made significant positive adjustments to its balance sheet and is restructuring its board to deliver the projects in its recently announced JV.
Next generation investor Pires Investments plc (PIRI) announced its unaudited interim results for the six-month period ended 30 June 2021. Profit achieved was of £1.53 million during the period (six months ended 30 April 2020: loss before taxation of £427,000). Net asset value (“NAV”) of £7,080,000 as at the period end (31 December 2020: £2,926,000), equating to NAV per share of 4.94 pence, an increase of over 80% since 31 December 2020. Perhaps the icing on the cake though, was the revelation that the company’s equity holding in Pluto is valued at almost £2 million based on the price of 6 pence per share, which represents a significant uplift on the Company’s initial investment in this sector.
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