(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Pantheon Resources PLC - oil & gas company - Confirms that discussions remain underway seeking the farmout for a working interest percentage in one or more of the company's Alaskan projects. As previously announced, Pantheon needs to complete a farmout or funding in the fourth quarter to have sufficient resources for both working capital and for the anticipated future winter 2021/22 drilling and testing campaign.
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Danakali Ltd - Subiaco, Australia-based resource company - Requests to cancel the admission of its shares in London from September 24. Danakali will retain the listing of its shares in Australia.
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Alba Mineral Resources PLC - exploration company with focus on Greenland, Mauritania and Ireland - Reports completion of drilling operations at the Amitsoq graphite project in southern Greenland. Drilling has confirmed the existence of two significant and laterally continuous graphite horizons, confirming Alba's existing geological model. "We will be sending the drill core to an accredited laboratory for assaying as soon as possible. The assay results will then be handed over to the independent competent person to assist in his resource estimation work," says Chief Operating Officer Mark Austin.
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Ariana Resources PLC - gold exploration and development company - Reports resource drilling results obtained from the Arzu Central area of the Kiziltepe mine, which is part of the Zenit Madencilik San ve Tic AS joint venture with Proccea Construction Co and Ozaltin Holding AS and is about 24% owned by Ariana. The company says drilling confirms high-grade continuity to depth for the extensions to Arzu North and Derya into the Arzu Central area. New geological modelling currently underway to define an updated mineral resource estimate and exploration target.
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Eurasia Mining PLC - mineral exploration company - Says three plants have now been successfully commissioned at West Kytlim to increase production and remove single asset risk. The first plant is located on the border of Klyuchiki area and Bolshaya Sosnovka area to process the material mined from both these areas, while the second and the third plants are located on the border of Malaya Sosnovka and Bolshaya Sosnovka areas to process material mined from Bolshaya Sosnovka. "The electricity grid connection will further improve our ESG credentials and together with the three plants successfully launched will cement our position as a low-cost producer," says Chief Executive & Managing Director James Nieuwenhuys.
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SolGold PLC - developer of copper-gold deposits in Ecuador - Starts drilling at its Sharug project in southern Ecuador, held by Green Rock Resources SA, a subsidiary of SolGold. The company says drilling has commenced at the Santa Martha copper gold porphyry target at the Sharug project as part of an initial six-hole drilling program testing extensive coincident surface geochemical and geophysical anomalies. "SolGold is dominant in Ecuador's exploration effort and results to date endorse this strategy," notes Executive Director & Country Manager Jason Ward.
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Gem Diamonds Ltd - London-based miner - Reports revenue for the six months to June 30 of USD104.0 million, up from USD115.1 million posted for the second half of 2020. Going forward, the company says 2021 production and cost guidance remains on target. "It is pleasing to see demand for Letseng's high quality diamonds continue the upward momentum from late 2020 with strong prices achieved in the period," notes CEO Clifford Elphick.
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Phoenix Copper Ltd - precious metals producer - Reports 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 total land package in the Empire Mine area has been expanded to 8,034 acres. "The additional acreage was added on the northeast end of the Navarre block and covers additional prospective ground. 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," says CEO Ryan McDermott.
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Alien Metals Ltd - exploration and development company - Says initial assay results from the second phase of reverse circulation resource drilling at the Hancock iron ore project in the Pilbara region of Western Australia have demonstrated significant widths of direct shipping ore grade intersections from surface at the Sirius extension project. With the continued strong results from the Sirius extension project, maiden resource estimation work and mining studies have commenced, with initial results anticipated in the September quarter. Further drilling at the Western Ridges project is being planned as a third phase program; management's expectation is that this will deliver a zone to contain a potential second resource.
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Angus Energy PLC - oil & gas development company - Says all equipment procurement to date in or below budget at Saltfleetby gas field. The gas commercial sales meter and analyser skid is now expected to be delivered during October. The first gas compressor package remains on schedule for November delivery, with the second gas compressor package scheduled for delivery in February 2022. The fuel gas skid, tendered and ordered with delivery in December. Other items including passive dehydration skid sundry pipework and additional storage tanks, have been tendered and are subject to present bidding and not subject to any delays.
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Thor Mining PLC - exploration and development company - Raises gross proceeds of GBP800,000 via the placing of 123.1 million new shares at a price of 0.65 pence each. The company says all placees to receive, one warrant for each two placing shares, to subscribe for a further new share at 1.3p each, valid for two years from the date of issue. Funds raised to be used for exploration activities at the Ragged Range gold & nickel project in the Pilbara region of Western Australia, and for exploration drilling at Molyhil tungsten and molybdenum project in the Northern Territory, as well as for general working capital purposes.
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By Evelina Grecenko; evelinagrecenko@alliancenews.com
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