There was a relatively tight timeline set by precious metals trading and exploration company Wishbone Gold (WSBN).
By Zak Mir
It said a sampling programme is underway at its Red Setter project in Australia. The company added that this is based on recent results from companies in the Patersons Range, and it will look at the entire Red Setter project area in order to refine the locations of the first planned drill holes. The sampling programme is expected to take 20 days.
It would appear that the rug has at least for now been pulled from under shareholders of stock market darling Helium One (HE1). It announced the completion of drilling of the Tai-1A exploration well to a depth of 1121m at its 100% owned Rukwa Project in Tanzania. Tai-1A was completed to a depth of 1121m with helium shows identified in all three target formations. Helium shows were encountered over five intervals in the Karoo Formation. A 130m thick claystone unit was encountered above the top Karoo sands, indicating good seal presence for the Karoo reservoir. Wireline logging of the uppermost Karoo indicates good reservoir potential with 15-20% porosities. The company said petrophysical analysis indicates no free gas in the uppermost thinly bedded Karoo sands associated with helium shows.
UK-based grower medical cannabis for domestic and international markets Ananda Developments (ANA) provided an update on its medical cannabis research growing facility where work has commenced on schedule. Ananda said once construction is complete, DJT Plants will commence planting its first medical cannabis for its research programme. DJT’s ultimate ambition is to transition to commercial growing of medical cannabis.
International legal and professional services firm, Ince (INCE) has launched an enhanced specialist sanctions compliance solution through a co-operation agreement with Windward, the Predictive Intelligence company applying AI to transform global maritime trade. The collaboration marks the development of another managed service solution for InceMaritime. Ince said evaluating sanctions risks and developing appropriate strategies is an ongoing challenge and that specialist maritime sanctions advice needs to be powered by dynamic, intuitive data.
Thor Mining (THR) announced a private placement financing of £800,000, to fund exploration activities at the Company’s project interests, with particular emphasis on the Ragged Range gold and nickel prospects in the Pilbara, Western Australia. The company has raised the money at a price of 0.65p.
Greatland Gold (GGP) announced the appointment of Otto Richter as Group Mining Engineer with effect from Monday 16 August 2021. The development and exploration company with a focus on tier-one gold-copper deposits said Richter is a Group Mining Engineer with over twenty years’ experience and has covered mining projects at all levels, including technical and due diligence reviews and independent technical advisory roles to multiple international companies.
African focused forestry group Woodbois (WBI) announced its half year results for the six months to 30 June 2021. Gross profit increased by 94% to US$1.7m (H1 2020: US$0.9m), with gross profit margin doubling to 20% (H1 2020: 10%). It delivered its first period of EBITDAS profit US$0.5m (H1 2020: loss US$0.8m). Total sawn timber production hit 7,000m3 in H1 2021, a 120% increase over H1 2020 and with total veneer production 1,830m3 in H1 2021, a 70% increase on H1 2020. The company said it has started to see the fruits of the recapitalisation in H2 2020, the revised strategy, the subsequent reorganisation and of key recruits.
Clinical stage oncology drug company Avacta (AVCT) said that the first patient has been dosed in the Company’s Phase I multi-centre trial evaluating AVA6000, a novel pro-drug of Doxorubicin and Avacta’s first therapeutic product based on its proprietary pre|CISION™ technology. The company said the latest news marks the transformation of Avacta into a clinical stage biopharmaceutical company and that AVA6000 offers an opportunity to improve upon the current doxorubicin treatment paradigm for patients, either as a monotherapy or in combination. It is now looking forward to the results from its AVA6000 first-in-human clinical trial.
AIM quoted USA focused base and precious metals emerging producer and exploration company, Phoenix Copper (PXC) announced an increase in its land holding at its Navarre Creek gold exploration project, in Idaho, with 56 new claims having been staked on the northeast end of the existing claim block. The company said the additional claims will be important for executing future drilling and subsurface exploration, and follow on from the promising surface sampling campaign in 2020, which demonstrated anomalously high gold grades in the initial geochemical samples, indicative of higher-grade values in less weathered rocks below the surface oxidised zone.
Gasification solutions company EQTEC (EQT) announced the completed acquisition of a 1.2 MWe waste-to-energy gasification plant in Belišće, Croatia, through Synergy Projects, a joint venture between the company and its Croatian project development partner Sense ESCO. Once operational, it is expected that EQTEC will become the Plant’s O&M contractor and that the company will make it the second of its Market Development Centres and a showcase for EQTEC’s technology in a fully operational, commercial setting. EQTEC’s first MDC, in Tuscany, Italy, was announced earlier this year.
Gem Diamonds (GEMD) offered a trading update detailing the Group’s operational and sales performance from 1 January 2021 to 30 June 2021. Three diamonds greater than 100 carats were recovered during the Period, including the recovery of the high quality 367 and 254 carat Type IIa white diamonds. The highest price per carat achieved in the Period was $119,886 for a 3.35 carat pink diamond. The group ended the period with $33.9 million of cash on hand, while drawn down facilities amounted to $14.3 million resulting in a net cash position of $19.6m (Q1 2021: net cash of $11.7m).
Condor Gold (CNR) presented its unaudited interim financial report for the three- and six-month periods to 30 June 2021. The company said it had made significant advances during the 6 month period at the fully permitted La India Project. A new SAG Mill has been purchased, with capacity of between 2,300 tpd to 2,800 tpd capable of producing circa 100,000 oz gold per annum. The first shipments have already arrived in Nicaragua. A lead engineering firm has been appointed to produce FS-level designs for a new processing plant using the new SAG mill. Upfront capital costs and operating costs are currently being updated accordingly. The project has been significantly de-risked by the purchase of 97% of the land and significant progress has been made with several engineering studies to an FS level
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