(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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Power Metal Resources PLC - London-based metal discoveries company with projects focused in Africa, Australia and North America - Gets renewal of prospecting licences at Molopo Farms Complex project in southwestern Botswana. Power Metal holds a 40% direct project interest in the MFC Project and a 20.65% shareholding in Kalahari Key Mineral Exploration Pty Ltd, which holds the remaining 60% interest. "The renewal of PL310/2016 and PL311/2016 represents an important milestone for the Project, providing a further 2 years for ongoing exploration following the initial successful drilling campaign completed early in 2021," Chief Executive Paul Johnson says.
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Yamana Gold Inc - Toronto, Ontario, Canada-based precious metals producer - 2021 gold production rises beats guidance at 884,793 ounces, after 2021 target of 862,000 ounces and higher than 2020's 779,810 ounces. Silver production falls short of guidance, coming in at 9.2 million ounces compared to 2021 target of 10.0 million ounces and was also lower than 2020's 10.4 million ounces. GEO production, which includes gold plus silver at a ratio of 88.86, comes in at 1.0 million - matching guidance.
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Rambler Metals & Mining PLC - Canada-focused copper and gold producer, explorer and developer - Finds high-grade mineralisation at Ming copper-gold mine in Canada. Also discovers new zone east of the main lower footwall zone, dubbed LP East zone. "The continued success of our exploration and infill drilling programs provides additional confidence in the resource we have in the ground at the Ming Mine. The diamond drilling completed throughout 2021 has now infilled all production areas for the next 18 months, giving us some breathing room to test exploration targets in addition to continuing the on-going infill drill program," CEO Toby Bradbury says.
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Galileo Resources PLC - miner with projects in Botswana, Zambia and South Africa - Says it is conducting an independent review of historical drilling data for the Luansobe copper project in Zambia. Review follows an initial review and is aimed at "compiling all available data into a database to be used to model the extent and tenor of the strata-bound sedimentary copper deposit". Says preliminary analysis suggests that the deposit has a strike length of up to 3 kilometres and extends to a depth of at least 1,250 metres, "with some exceptional drill intercepts". "The initial review of the project suggests that potential exists for a large stand-alone mine since all data suggests that the body is open to depth with considerable strike. We will move aggressively forward with determining the tonnes and grade available for an oxide open pit since this gives us early access to cash flow," says CEO & Chair Colin Bird.
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ReNeuron Group PLC - Bridgend, Wales-based exosome therapeutics company - Inks additional agreement with Fosun Pharma, "setting out the first steps in the potential technology transfer of the CTX drug product for the stroke disability programme". Agreement for GBP320,000 to be invoiced on signing with further payments expected, based on services and CTX cell bank vials to be supplied by ReNeuron in the future, "although these are contingent on signing a supplemental payment terms agreement which is currently under discussion". Company will update the market once agreement on the terms have been reached.
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Landore Resources Ltd - BAM gold project at Junior Lake in Ontario, Canada - Receives CAD250,000, about GBP145,812, and new shares in Lithoquest Resources Inc worth CAD400,000 in an option deal. Company is also to receive a 2% net smelter returns royalty. Lithoquest retains the right to reduce the NSR to 1% by paying Landore the sum of CAD1.0 million in cash.
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Zenith Energy Ltd - Africa-focused production and development energy company - Announces extension to option agreement with Noble Hill-Network Ltd for the purchase of a 42% stake in the Nigerian oil and gas company. Extension is until March 1.
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By Greg Roxburgh; gregroxburgh@alliancenews.com
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