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Share Price: 1.95

Bid: 1.90

Ask: 2.00

Change: 0.00 (0.00%)

Spread: 0.10 (5.263%)

Open: 1.95

High: 2.05

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TRADING UPDATES: Fulcrum hails Big Bear find; Aminex's Ruvuma progress

Thu, 02nd Mar 2023 17:24

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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Aminex PLC - oil & gas investment company focused on Tanzania - Plans to accelerate production at Ruvuma asset in Tanzania have continued, with October 2023 now the target for production of first gas. "This acceleration in the gas production schedule will result in earlier gas revenues to the company (Q4 of 2023), decoupling the production of first gas from the spudding of the CH-1 well," Aminex says. Scirocco Energy PLC, which in Augus announced sale of 25% stake in Ruvuma, notes the announcement.

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Neometals Ltd - minerals and materials project development company - Strikes deal to formalise firm's 50% ownership of vanadium recovery joint venture company Recycling Industries Scandinavia AB. Gives Neometals right to appoint chair with casting vote. Remaining stake is owned by Scandinavian Resources Pty Ltd. Neometals subsidiary Ecometals immediately injects AUD3 million, GBP1.7 million, to fund exploration activities. Scandinavian Resources has until March 31 to match that investment to keep its 50% stake. If it does not, Neometals will own 75%.

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Good Energy Group PLC - Wiltshire, England-based supplier of renewable power and energy services - Begins domestic rooftop solar installation, just two months after sealing buy of Igloo Works. "This is a significant milestone and demonstrates how the acquisition of Igloo Works provides Good Energy with a platform to execute the company's strategy to expand its decentralised energy services offering and rapid consolidation of Good Energy's leading role in the solar space," Good Energy says. "The company has identified a key target segment of over 250,000 households considering a solar installation by 2026. In 2022, UK installations doubled to over 130,000 with high energy prices driving increased interest in households generating their own power."

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Fulcrum Metals PLC - multi-commodity minerals exploration company - Hails "successful" results from exploration of Big Bear property at Schreiber-Hemlo project area. "A total of 45 rock samples were collected for assay, with results confirming prospectivity, including high-grade gold results," Fulcrum says. Chief Executive Officer Ryan Mee says: "I am delighted to report on the successful exploration programme at the Big Bear property within our Schreiber - Hemlo project and our first announcement since listing on AIM last month." Panther Metals PLC, which holds a 2% net smelter return on Big Bear, notes announcement. Panther also has 20% interest in Fulcrum.

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By Eric Cunha, Alliance News news editor

Comments and questions to newsroom@alliancenews.com

More News

5 Dec 2011 09:52

Aminex gets ready to spud Ntorya-1

Aminex, the oil and gas exploration company, has seen its share price rise 3.87% on news that it is about to spub its Ntorya-1 well in southern Tanzania. The company says the drill site was completed at the end of October and that "the rig camp is now fully installed". Aminex says it expects to st

16 Nov 2011 13:01

Aminex progressing well

Aminex, the Africa- and US-focused oil and gas firm, has progressed well since the start of July, the firm said. The group's Nyuni 2 exploration well was suspended as a result of difficult drilling conditions, however the resource potential was not affected. Tests on the Nyuni 1 exploration well w

6 Oct 2011 08:22

Obstructions stop work at Aminex well

Africa and US focused oil and gas firm Aminex has suspended further work on the Nyuni-2 exploration well off the coast of Tanzania due to obstructions near the base of the well, the firm said. Repeated attempts to drill out the obstructions were unsuccessful so a decision was made to cement off t

22 Sep 2011 09:55

UPDATE: Thursday broker round-up

Burberry: AlphaValue downgrades to sell, target cut from 1,297p to 1,302.5p. Anglo American: Societe Generale upgrades to buy, target cut from 3,250p to 3,000p. TUI Travel: Numis Securities downgrades to hold, target decreased from 180p to 160p. Aegis Group: Barclays downgrades to equal-weight, t

20 Sep 2011 11:27

Aminex appoints new chief exec

Aminex, the Africa and US focused oil and gas firm, has appointed Stuard Detmer to the position of chief executive officer with immediate effect. The move will see him takeover the role from Brian Hall, who remains in his position as executive chairman. Shareholders will be asked to approve the

16 Sep 2011 10:18

Obstruction delays progress at Aminex well

Aminex, the Africa and US focused oil and gas firm, saw its share price dip after the mining firm reported that it was unable to progress past a blockage in its Nyuni-2 well. The decision was made to pull back 3,000 meters, above the area of blockage, and to side-track the well, by-passing the obs

13 Sep 2011 08:28

Aminex swaps Tanzania interests

Aminex, the Africa and US focused oil and gas firm, is seeking to complete a so called 'acreage swap' in Tanzania with its partner, Key Petroleum. In essence, the deal will see Aminex's 50% stake in the Songo-Songo transferred to its partner Key Petroleum after what the company describes as "slow p

31 Aug 2011 09:46

Aminex desperate to get gas on shore

Aminex, the oil and gas company with operations in Tanzania and the southern US, saw a 33% increase in production in the first half of 2011 to the equivalent of 50,500 barrels of oil. The company's half-year results also show a pre-tax loss of $896,000, better than the $2.49m loss in the same perio

26 Aug 2011 09:11

Aminex reports 'satisfactory progress' in Tanzania

Aminex, the oil and gas firm with operations in Africa and the US, said that operations at its Nyuni-2 exploration well in the Indian Ocean have made "satisfactory progress" despite some delays. The rig at the well, being drilled from Nyuni island off the Tanzanian coast, was shut down for eight da

30 Jun 2011 17:35

Ocean Wilsons director splashes out

Board member Alex Cooper has upped his stake in Ocean Wilsons, spending nearly £50,000 on shares in the Brazil-focused shipping services group. Cooper, a lawyer and resident of Bermuda, bought 3,550 shares at 1,360p a share, and now has 46,450. The shares have risen sharply since the company issue

17 Jun 2011 13:29

Aminex commences drilling at Tanzanian well

US- and Tanzania-based oil and gas group Aminex announced that its Nyuni-2 well spudded shortly in the early hours of the morning on Friday. It is estimated that drilling to target depth at the well, located offshore Tanzania 30km off the mainland, will take nine to ten weeks. Nyuni-2 will be the

8 Jun 2011 12:14

Aminex details its East Africa exploration programme

East Africa focused oil exploration company Aminex is today holding its annual general meeting in Dublin. In the accompanying slide presentation, posted on the company's website, the outfit describes the progress made in its different exploration activities in Tanzania. The company has recently rai

30 Mar 2011 14:17

Another busy year ahead for Aminex

Oil firm Aminex has had a busy year's drilling and expects more of the same as it advances projects in Africa and the US. In the year to 31 December, revenues fell to $7.1m (£4.43m) from $7.8m the previous year, while net losses widened to $4.5m from $2.9m. "We are looking forward to a busy period

18 Mar 2011 16:54

F&C chairman continues buying

F&C Asset Management chairman Edward Bramson's interests have been consistently buying shares in the past week, while F&C chief executive Alain Grisay has made a significant disposal. Bramson was appointed chairman of F&C last month after a shareholder coup but his investment vehicle SIGA LP had

14 Mar 2011 16:47

London close: Japanese concerns knock Footsie

London closed near to its low for the day as a decline on Wall Street dragged the market lower later in the day and there were concerns about the possible effects of the Japanese earthquake on financial markets and global economies. Miners Rio Tinto, Xstrata, African Barrick and ENRC are the pick o

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TRADING UPDATES: Fulcrum hails Big Bear find; Aminex's Ruvuma progress

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