Gold producer Caracal Gold (GCAT), updated on operations at its producing Kilimapesa Gold Mining and Processing Operations in Kenya, where it is advancing a phased mine optimisation and expansion strategy.
By Zak mir
Funds raised from a listing on the London Stock Exchange in August 2021 are being used to refurbish and upgrade processing plant at Kilimapesa, as well as maintenance work. There is also a ramp-up of underground mine development and the purchase of new mine equipment. Underground mining operations during September 2021 focused on the development of reef drive and new raises to open up new stoping areas to meet the planned increased level of run-of mine production, and the associated purchase of new underground equipment including rails and box fronts.
Novacyt (NCYT), the clinical diagnostics group, updated on the availability of its COVID-19 tests in the UK following implementation of the UK Health Security Agency’s Medical Devices Regulation 2021. From 1 November 2021, the company will only be selling the PROmate® COVID-19 test in the UK until such time the UK Health Security Agency completes its review of the additional nine products submitted. If no further products are added to the CTDA register, the impact on full year revenues for 2021 will be circa £3 million.
IronRidge Resources Limited (IRR) said that Canaccord Genuity (Australia) Limited, the Lead Manager of the proposed A$7.2m rights issue to be undertaken by Ricca Resources Limited, the entity into which the company’s gold assets will be transferred and subsequently demerged has been secured as underwriter of the proposed rights issue.
Warpaint London (W7L), the supplier of colour cosmetics and owner of the W7 and Technic brands is pleased to announce an update on current trading. The company said that following a continuation of the improving trends seen in the first half of the year, it now expects its results for the year ending 31 December 2021 to be ahead of market expectations. Sales for the year ending 31 December 2021 are now expected to be similar to those achieved in 2019 (2020: £40.3 million, 2019: £49.3 million).
MGC Pharmaceuticals (MXC), a European based bio-pharma company, announced the completion of the construction and implementation phase of the CimetrA™ production facility in Malta. MGC Pharma received a €3.1million cash grant from the Maltese Government via Malta Enterprise, in order to fund the majority of the costs of construction, and equipment fitout of the facility.
Horizonte Minerals (HZM), the nickel company focused in Brazil, announced that it has filed and obtained a final receipt for a final base shelf prospectus dated October 29, 2021 in each of the territories and provinces of Canada, other than Quebec. The Prospectus enables Horizonte to qualify the distribution of up to C$125,000,000 of any combination of ordinary shares, warrants, subscription receipts, debt securities, and units during the 25-month period that the Prospectus remains effective.
Trident Royalties (TRR), the mining royalty company, noted announcements made by Apollo Consolidated Ltd., ASX listed Ramelius Resources and ASX listed Gold Road Resources relating to the proposed acquisition of Apollo. Trident holds a 1.5% NSR gold royalty over Apollo’s flagship Lake Rebecca Gold Project, in Western Australia. The royalty covers the entirety of the Project and its 1.1Moz gold Resource.
Oriole Resources (ORR), the AIM-quoted exploration company focussed on West Africa, updated on its 90%-owned Central Licence Package in Central Cameroon, where the team is undertaking systematic and cost-effective exploration. The district-scale CLP comprises eight contiguous licences covering 3,592km of Paleo-Proterozoic to Pan-African age rocks that are highly prospective for orogenic-style gold mineralisation. Ranking of an initial 18 targets in the east of the Package has identified five Priority 1 zones for follow-up soil sampling.
ValiRx (VAL), the life science company focusing on early-stage cancer therapeutics, said it has entered into a non-binding letter of intent with TheoremRx Inc., a recently incorporated company, a next generation drug development company, to enter into a licence agreement on pre-agreed terms to sub-license ValiRx’s legacy asset VAL201 for development in the treatment of cancer. Completion of the Licence Agreement is subject to a successful fundraise by TheoremRx.
Argo Blockchain (ARB), the cryptocurrency mining group, announced its financial results for the quarter ended September 30, 2021. Argo generated record-setting revenue, net income and EBITDA of $26.0 million, $17.3 million and $28.2 million, respectively, for the third quarter of 2021 (£19.3 million, £12.9 million, and £21.0 million, respectively). For the nine months ended September 30, 2021, the company’s revenue, net income and EBITDA were $67.9 million, $27.1 million and $49.8 million, respectively (£50.4 million, £20.1 million, and £36.9 million, respectively).
Bradda Head Lithium (BHL), the North America-focused lithium development group, said that it has received initial promising results of the GPRplusTM geophysical programme at the company’s San Domingo asset in Arizona, and that it has also added to its Central San Domingo claims. Bradda Head has increased its footprint in the area from c.8km2 to c.13km2. The company is now planning an extensive geological mapping project to build upon our current model, and a diamond drill programme for 2022, to investigate the initial positive results.
Shanta Gold (SHG), the East Africa-focused gold producer, updated on the construction progress at the Singida Gold Project in Central Tanzania. Project construction remains on track for first production in early 2023, adding a second revenue stream across the portfolio and further strengthening our diversified portfolio of assets in East Africa. Strong results from grade control drilling programme further increase confidence in the strength of the production profile at Singida.
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