The latest from Xtract Resources (XTR) takes us away from Bushranger as it announced the preliminary unaudited results for alluvial mining contractors for the Manica Concession for the three-month period ended 30 June 2021.
By Zak Mir
Total alluvial mining contractor gold production of 13.30Kg for the quarter (equivalent to approximately 427 ounces). There was a total of 3.7Kg (equivalent to approximately 120 ounces) attributable to Explorator, with a value of $218,413. There has been an overall improvement of operating conditions from Q1 2021. The Guy Fawkes development continued during the period and Fair bride was progressed.
There was more leading from the front at biotech Tiziana (TILS). Panetta Partners Limited, in which Gabriele Cerrone, the Executive Chairman has a beneficial interest, purchased 60,000 shares at 50p per share. This takes Cerrone’s interests from 34.148% to 34.178%.
Latin American focused upstream oil and gas company, Echo Energy (ECHO) delivered an operational update regarding its Santa Cruz Sur assets, onshore Argentina for Q3 2021. A further three wells from the Campo Molino oilfield have been brought online. All the recently reactivated wells are producing in-line with expectations. The maximum daily reported production achieved after these wells have been online has been around 350 bopd (net to Echo). This represents a further 20% increase from production levels announced on 26 August. Last month liquids production net to Echo averaged approximately 290 bopd. This continues to represent an almost 50% increase in the total daily liquid production rate at Santa Cruz Sur when compared to the period immediately prior to the restoration of production from the Campo Molino field just over a month ago.
PetroTal (PTAL) announced a 30-day initial production rate of over 7,700 barrels of oil per day for well BN-8H. As of October 3, 2021, during its first 30 days of operation, the well has produced 231,000 bbls. Well 8H is outperforming management expectations and based on the 8H well’s ongoing performance and an expected $45/bbl oil netback, the 8H well should pay out in approximately 45 days, overall. PetroTal has entered into additional put options with strike prices of $70/bbl Brent oil for approximately 25% of the H1 2022 management production profile.
Base metal explorer Castillo Copper (CCZ) announced that the full assay results for the second campaign at the Big One Deposit have been returned. The campaign comprised 20 reverse circulation drill-holes for a total of 2,632m and one with a HQ diameter diamond-cored tail for a total of 32m. The company said that going forward, the third drilling campaign at Big One Deposit will hit priority targets north of the line of lode, which includes a sizeable bedrock conductor. In the interim, Castillo is looking forward to work finally commencing at the Arya Prospect and results of the due diligence programme which is continuing on the Litchfield & Picasso Lithium Projects.
AIM quoted company investing company, SEED Innovations (SEED) noted an announcement by its portfolio company, Yooma Wellness. Yooma has completed the acquisition of Vertex Co., Ltd., a Tokyo-based wellness business. The acquisition strengthens Yooma’s current operating subsidiaries portfolio, expands both its distribution network and customer base, and provides access to the Japanese and wider Asian markets. SEED has approximately 4.5% of Yooma’s issued share capital.
International life sciences group Netscientific (NSCI) said that its portfolio company, PDS Biotechnology Corporation (Nasdaq: PDSB), has announced the completion of enrolment for the first stage of the checkpoint inhibitor naïve arm of its VERSATILE-002 Phase 2 study for the treatment of recurrent and/or metastatic human papillomavirus (HPV16)-associated head and neck cancer. 90% of HPV-associated head and neck cancers are reported to be caused by HPV16 as reported by a study published in the Journal of Clinical Medicine.
Telecom Customer Engagement Hub software specialist, Pelatro (PTRO) unveiled a new contract. Its mViva platform has been chosen by a small southern European telco, which is part of a large European telecom group, for campaign management operations. The contract is largely recurring in nature and is expected to contribute about $600,000 in revenue over three years.
Off the radar Thor Explorations (THX) announce commercial production has been achieved at its wholly owned Segilola Gold Mine located in Osun State, Nigeria. The first gold was poured in July 2021. The mine is fully operational and operating at the target daily mine production rate, and the process plant is operating in-line with its design throughput capacity of 715,000 tonnes per annum.
Altus Strategies (ALS) said its gold resource exceeds one million ounces in Tabakorole in Southern Mali. An updated independent Mineral Resource Estimate has been prepared in accordance with the JORC Code, for the Tabakorole gold project. Tabakorole is subject to a Joint Venture with Marvel Gold Limited (ASX: MVL). Altus holds a 49% equity interest and 2.5% Net Smelter Return royalty on the Project. Exploration activities at Tabakorole are being funded by Marvel.
Natural resources company focused on the development of the Eastern Minerals Project in Sri Lanka, Capital Metals (CMET), announced that the auger drilling programme at its southern exploration license EL199 has commenced. The company has engaged the Geological Survey and Mines Bureau in Sri Lanka to undertake the drilling program. The drilling program is a combination of infill and resource extensions and aims to confirm previous drill work and test with extension and step out drilling.
Oscillate (MUSH) said that director Burns Singh Tennent-Bhohi bought 1,000,000 ordinary shares of the company, at 2p. He now has 9,000,000 shares, 4.27% of the issued share capital.
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.
If anyone reads this article found it useful, helpful? Then please subscribe www.share-talk.com or follow SHARE TALK on our Twitter page for future updates.
Terms of Website Use
All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned