Copper-Gold specialist Xtract Resources (XTR) announced its preliminary unaudited results for alluvial mining contractors for the Manica Concession for the three-month period ended 31 March 2021.
By Zak Mir
The company said the Guy Fawkes development continued during the period and Fairbride progressed. Total alluvial mining contractor gold production of 8.83Kg for the quarter (equivalent to approximately 284 ounces). There was a total of 2.47Kg (equivalent to approximately 79 ounces) attributable to Explorator at a value of $143,848.
Rare Earth group Pensana (PRE) said that following the recent £15m premium equity raise early stage development has commenced on the establishment of its rare earth processing hub at the Saltend Chemicals Park in Humber, UK. The Saltend plant would be the first major rare earth separation facility to be constructed in over a decade and the first to be located in a Freeport. Pensana is aiming to establish Saltend as an alternative to mining houses who may otherwise be limited to selling their products to China, having designed the facility to be adapted to cater for a range of rare earth feedstocks.
UK Oil & Gas (UKOG), which thus far excelled in the art of the placing, said it was pleased to announce raising £5.0m to fund its remaining share of the Turkey Basur-3 appraisal well’s drilling, completion and testing costs and planned 2D seismic acquisition costs. The company, still best known for the “Gatwick Gusher”, holds a 50% interest in Basur-3 and the surrounding 305 km² Resan licence. Following completion of its acquisition of a 50% interest in the Resan Licence on 20th January 2021, site construction works for the Basur-3 oil appraisal well commenced at the end of March 2021, with drilling starting on 26 June 2021.
Caribbean and Atlantic margin focused oil and gas company, Challenger Energy (CEG) provided an update on progress of the Saffron-2 appraisal well as part of the Saffron Project. It said the drilling phase of the Saffron-2 well has successfully concluded, with the well fully cased and cemented to a depth of 4,567ft. The well is now being readied for production testing which is expected to commence in the next three weeks Data recorded in final sections of the well suggests similar sand intervals to hydrocarbon bearing zones encountered in Saffron-1, with a full suite of logging to be conducted over the coming week across each of the lower Middle Cruse and Lower Cruse reservoir sections of interest.
Rocky Mountain oil and gas company Zephyr Energy (ZPHR) continued its recent run of seemingly daily updates on its flagship project in the Paradox Basin, Utah, U.S.A. On 28 June 2021, Zephyr announced the signing of a drilling contract with Cyclone Drilling in order to secure Cyclone Rig #34 for the purpose of drilling the State 16-2LN-CC appraisal well. Rig #34 is fully capable of drilling to the planned depths and pressures that are expected at the State 16-2LN-CC well. Zephyr said that Cyclone plans to commence mobilisation of Rig #34 to the State 16-2LN-CC well site today.
International mining project developer Oracle Power (ORCP) said that further to the announcement of 23 June 2021, the geochemical sampling programme covering almost the entire tenement at its 100% owned Jundee East Gold Project, is now underway. This new geochemical programme will expand on the maiden geochemical sampling programme which returned the highly positive results announced on 14 June 2021. The company said it is confident that this expanded programme will provide a much more comprehensive insight into the mineralised footprint of this significant tenement area which covers an area of approximately 90km2 in one of the most productive gold regions globally. The sampling is expected to take 10 days, with assay expected four to six weeks after this.
Edtech specialist Dev Clever (DEV) unveiled its Half Year Report. On the financial front revenue was up 531% at £2.4m for the Period (H1 2020: £383k) and supported by significant contract wins in the Educate division. Cash position at period end of £9.7m (H1 2020: £472k), with the current cash position £10.85m. Over the period Dev announced a comprehensive agreement with Veative including a proposed acquisition of the entire share capital of Veative’s Indian subsidiary and development centre. There was also a five-year exclusive partnership agreement with the NISA, representing over 70,000 budget private schools, for Launchyourcareer.com to be utilised as the platform-of-choice, attended by c.13 million students.
UK intellectual property investment group Tekcapital (TEK) said that its portfolio company Lucyd Ltd’s U.S. operating company, Innovative Eyewear, Inc. has signed an exclusive purchase and distribution agreement with 8 Points Inc, a leading Canadian distributor that provides high-end spectacles for optical stores and eye care professionals. This agreement sets out a minimum purchase requirement of US$4.6m worth of Lucyd® Lyte® e-glasses over 30 months, to maintain retail distribution exclusivity in Canada.
Alba Mineral Resources (ALBA) said that all remaining assay results on bulk sample concentrates produced at the Company’s pilot processing plant at the Clogau-St David’s Gold Mine have been received and significantly exceed results from the previous results announced on 26 May 2021. Concentrates produced returned grades up to 461 g/t. Planning is progressing for the identification of new, unworked veins for bulk sampling later in 2021.
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