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TRADING UPDATES: Eqtec hails French state contract; Conroy finds gold

Thu, 23rd Mar 2023 14:29

(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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Conroy Gold & Natural Resources PLC - The gold exploration and development company focused on Ireland and Finland - Finds 3.46 grams of gold per tonne at Slieve Glah gold target in Ireland, as well as 4.45% zinc. Chair Richard Conroy says: "The deep overburden sampling programme has proven its value, yielding results which pinpoint additional gold targets for follow up trenching and drilling. The district scale gold area already has a number of gold targets, many of them with gold proven in bedrock but clearly there are many more gold targets still to be identified. There is also potential for base metals. However, the main emphasis at this stage will continue to be the development of the first gold mine in the district."

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Eqtec PLC - AIM-listed technology innovator focusing on distributed, decarbonised, new energy infrastructure via waste-to-value solutions for hydrogen, biofuels, and energy generation - Says Eqtec France SAS has been appointed by French government to lead a technical and commercial feasibility on site of a decommissioned coal-fired power station in Meyreuil, Aix-en-Provence, Bouches-du-Rhone. Receives EUR1 million initial budget for feasibility. "The intention of national and regional stakeholders is to revitalise the site by deploying new energy infrastructure that is clean, sustainable, and commercially viable, and to employ local people, particularly workers from the legacy plant," Eqtec explains. It expects the feasibility to complete in the first half of 2023.

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Fulcrum Metals PLC - mineral exploration and development company focused on Canada - Says satellite study finds multiple structural targets at Big Bear and Jackfish properties. Identifies 42 priority exploration targets within the two properties, 24 within Big Bear and 18 in Jackfish. Chief Executive Officer Ryan Mee notes the "interpreted structure in the Pyramid Schreiber area of the Big Bear property which returned several high-grade gold in rock samples in excess of 10 grammes per tonne up to 45 grammes per tonne." Panther Metals PLC, which has a 20% stake in Fulcrum, notes the announcement.

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Galileo Resources PLC - mining company focused on Zambia, Zimbabwe, Botswana, South Africa and the US - Hails discovery of "significant" lithium, tin and rare earth element anomalies at Kamativi licence in Zimbabwe, identifying four anomalous zones. Finds 1,060 parts per million of lithium. Chair Colin Bird says: "This initial campaign has been extremely encouraging pointing us to a number of high potential areas associated with the productive Kamativi pegmatite terrain and we look forward to advancing this project at a time when Zimbabwe and lithium are very much in the global spotlight linked to New Age Metals."

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JPMorgan UK Smaller Cos Investment Trust PLC - trust giving access to growing smaller companies in the UK - Net asset value per share at January 31 falls 19% to 322.6 pence per share from 398.7p a year prior. NAV total return in six months to January 31 is negative 1.2%, underperforming against the Numis Smaller Companies plus AIM excluding Investment Companies Index, which returns negative 0.4%. Looking ahead, notes that markets are nervous over the path of interest rates. Chair Andrew Impey says: "More recently UK and global equities have fallen and government bond yields have risen suggesting that, despite the significant rise in interest rates over the past year, economic activity remains unexpectedly robust and investors are again growing concerned about inflation and monetary policy. Whatever the eventual outcome it seems likely that markets will be influenced by key data and policy announcements as investor sentiment is likely being driven by hopes of a more supportive US policy rather than improving fundamentals."

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Symphony International Holdings Ltd - Asia-focused investment company focusing on healthcare, hospitality, lifestyle, logistics and education sectors - Pretax profit in 2022 falls to USD7.6 million from USD122.5 million in 2021, blaming subdued monetisation activities in 2022. "Other" operating income drops to USD14.7 million from USD182.2 million. Looking ahead, notes optimism for Asian markets with normalisation of economic activity.

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By Tom Budszus, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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4 Aug 2022 17:01

IN BRIEF: Galileo Resources to start drilling at Luansobe project

Galileo Resources PLC - London-based mining company focused in the US and Africa - Signs contract for 3,000 metres of core drilling on potentially open pittable copper deposit at Luansobe project in Zambia.

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20 Jul 2022 10:29

IN BRIEF: Galileo Resources shares up on Zambia copper drilling yields

Galileo Resources PLC - London-based mining company focused in the US and Africa - Reports copper assay results of preliminary drilling at Shingada copper-gold project in Zambia.

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30 May 2022 15:07

Galileo issues first update on exploration at Shinganda

(Sharecast News) - Galileo Resources released its first exploration update and information on drill planning over its option and joint venture project covering the Shinganda Copper-Gold Project in Zambia on Monday.

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17 May 2022 21:07

IN BRIEF: Galileo Resources identifies copper zone in Luansobe

Galileo Resources PLC - London-based mining company focused in the US and Africa - At the Luansobe copper project in Zambia, pXRF testing of the historical drill core identifies an upper mineralised zone of moderate copper grade, with some higher grade intervals.

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26 Apr 2022 21:14

IN BRIEF: Galileo Resources starts exploration activities in Zimbabwe

Galileo Resources PLC - London-based mining company focused in the US and Africa - Commences exploration activities at lithium and gold projects in Zimbabwe, with a recon mapping and sampling site visit at Kamativi lithium project set to start immediately.

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30 Mar 2022 18:36

IN BRIEF: Galileo Resources due GBP523,000 for sale of Vermiculite

Galileo Resources PLC - London-based mining company focused in the US and Africa - Confirms that all conditions for Afrimat Ltd to acquire the Vermiculite mining right from Glenover Pty Ltd have been met, and that Glenover has elected that the mining right consideration be paid in cash, of which GBP523,000 is due to the company.

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22 Feb 2022 21:57

TRADING UPDATES: Angling Direct ups revenue; Ceiba takes Omicron hit

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

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22 Feb 2022 14:34

Galileo upbeat on modelling progress at Zambia's Luansobe

(Sharecast News) - Galileo Resources reported progress in the modelling of historic drill data at Luansobe on Tuesday, as well as completion of the second payment to the vendors to secure an initial 75% interest in the Luansobe Copper Project in Zambia.

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11 Feb 2022 17:52

IN BRIEF: Galileo Resources shares rise on proceeds from Glenover sale

Galileo Resources PLC - miner with projects in Botswana, Zambia and South Africa - Receives ZAR50.7 million, around GBP2.4 million, from the Glenover asset sale, through the disposal of its indirect holdings via Galagen Pty Ltd to Johannesburg-listed Afrimat Ltd.

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11 Feb 2022 14:52

Galileo gets cash from Glenover, Star Zinc sales

(Sharecast News) - Galileo Resources updated the market on the Glenover asset sale between Glenover and Afrimat on Friday, as well as the sale of the Star Zinc project to Siege Mining.

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11 Feb 2022 11:41

AIM WINNERS & LOSERS: Mycelx sinks 15% despite positive outlook

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.

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13 Jan 2022 21:12

TRADING UPDATES: Power Metal renewal; Yamana production hits target

TRADING UPDATES: Power Metal renewal; Yamana production hits target

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31 Dec 2021 09:52

Galileo Resources shares drop following release of half-year results

Galileo Resources shares drop following release of half-year results

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30 Dec 2021 15:12

Galileo enters joint venture deal over possible Zambia project

(Sharecast News) - Galileo Resources has entered into a joint venture agreement with private Zambian company Statunga Investments, it announced on Thursday, which holds the Luansobe Project.

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30 Dec 2021 11:29

AIM WINNERS & LOSERS: UniVision Hong Kong contract hits snag

AIM WINNERS & LOSERS: UniVision Hong Kong contract hits snag

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