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Pin to quick picksPower Metal Share News (POW)

Share Price Information for Power Metal (POW)

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TRADING UPDATES: Anglo-Eastern Plantations sees palm oil prices rise

Mon, 27th Jun 2022 21:51

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

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Anglo-Eastern Plantations PLC - producer of palm oil and rubber across Indonesia and Malaysia - Says own production of fresh fruit bunches 460,800 tonnes in five months to end of May, down 3% on year ago. Says plantations in North Sumetera with younger palms performed reasonably well, while plantations with older palms in Bengkulu and Kalimantan experienced a drop in production. The crude palm oil ex-Rotterdam price averaged USD1,650 per tonne in the period, up 47% year-on-year. At June 10, the CPO price ex-Rotterdam closed at USD1,660. "We expect the ex-mill price in Indonesia to improve after the government issued guidelines and regulations on 14 June 2022 to accelerate the shipment of palm oil following the lifting of the export ban. However, we expect a pullback in the CPO price as crop production improves further in the second half of the year," it says.

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Power Metal Resources PLC - metals exploration company focused in North America, Africa and Australia - Revenue for six months to end of March 31 GBP198,000, up from GBP17,000 a year before. Pretax loss widens to GBP1.7 million from GBP607,000. "There is an underlying confidence and optimism that permeates the Power Metal business and the team within it. We recognise the pressure challenging markets and falling share prices place on investor portfolios and are respectful of this whilst still enthusiastically articulating our progress and our ambitions," says Chief Executive Paul Johnson.

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Echo Energy PLC - London-based energy company focused on Latin America - Is granted up to two further months to publish its annual accounts for calendar 2021. "This additional period is in view of the adverse impact of Covid-19 having resulted in delays in the ability of the local Argentinian Santa Cruz Sur joint venture entity in which Echo holds a 70% interest to provide information to its Argentinian auditor," it explains. Expects to report 2021 revenue of USD11.1 million, flat on 202. Adds that production at Santa Cruz Sur assets, onshore Argentina, during start of 2022 up until June 18 reaches aggregate of 243,230 barrels oil equivalent net to Echo during the period.

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Touchstone Exploration Inc - Calgary, Canada-based upstream oil and gas company - Says pipeline from Coho facility to the Central block has been completed, and hydrotesting is scheduled to commence this week upon which the pipeline will be ready for first gas. "Coho will be the first onshore natural gas project to come onstream in 20 years, representing an important milestone for both Touchstone and the Republic of Trinidad and Tobago," it says. Targeting full production in August. Adds that oil transfer line on Fyzabad block was cut last week in act of "vandalism", with around 250 barrels of oil released.

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Nuformix PLC - London-based pharmaceutical development company - Initiates further studies to support the progression of NXP002. "These studies will directly address issues faced in the duration of action studies. Firstly, the company will investigate a new formulation of NXP002 for inhalation, delivered using an alternative method designed to ensure consistent and controlled exposure is achieved. Secondly, the company will explore a new range of doses to best optimise efficacy of treatment," it says. The studies will start in August with results generated throughout the second half.

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Belluscura PLC - London-based medical device developer - Launches next generation X-PLOR portable oxygen concentrator. It provides "more oxygen by weight than any portable oxygen concentrator in its class" and is Bluetooth enabled. "With the launch of the next generation X-PLOR, Belluscura continues to add more sizable distributors and durable medical equipment providers to its distribution network," it says.

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Sunrise Resources PLC - Macclesfield, England-based mineral project developer - Says its CS Natural Pozzolan has now been conditionally approved by the California Department of Transport for use in California state infrastructure projects. Caltrans is the government body responsible for the award of state funded infrastructure construction projects in California. "I am delighted that Caltrans has conditionally approved the CS Natural Pozzolan. This is good news for the CS Project. Whilst we were confident that the CS Natural Pozzolan would pass Caltrans's testing procedures, this is an important step forward as many concrete specifiers look to this list as an independent endorsement when specifying for a wider range of non-Caltrans projects," says Executive Chair Patrick Cheetham.

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Symphony Environmental Technologies PLC - Borehamwood, Hertfordshire-based plastics and rubber - Says following legal action by distributor in Peru, a "clear distinction" has been officially acknowledged between oxo-degradable and oxo-biodegradable technologies, officially confirming that oxo-biodegradable technology does not leave microplastics behind. "This legal outcome has significant implications for Symphony's commercial growth in Peru and in Latin America generally. In addition, it vindicates Symphony's long-term and ongoing advocacy strategy in the region, based upon transparent and technically-led engagement with legislators and opinion-formers," company says.

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By Lucy Heming; lucyheming@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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UK shareholder meetings calendar - next 7 days

Friday 24 March 
Faron Pharmaceuticals LtdAGM
In The Style Group PLCGM re sale of only subsidiary; becoming cash shell named Itsum PLC
Kitwave Group PLCAGM
Midatech Pharma PLCGM re cancellation of the admission to trading on AIM and name change
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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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15 Mar 2023 18:51

IN BRIEF: Red Rock Resources, Power Metal hail gold drilling testing

Red Rock Resources PLC- Africa and Australia-focused gold and base metals development company - and Power Metal Resources PLC - metals exploration company, focused on North America, Africa and Australia - Release update for Victoria, Australia-based joint venture at Berringa gold mine project, which is 50.1% held by Red Rock and 49.9% held by Power Metal. Says drilling is completed with a total of six diamond drillholes totalling 988 metres, with the majority of drill core samples undergoing assay testing at a laboratory. "Four of the six drill holes completed as part of this programme encountered visible gold," companies highlight. Power Metal Resources Chief Executive Officer Sean Wade says: "Importantly, 4 of 6 drill holes encountered visible gold including a significant 30-metre-wide mineralised quartz vein in the final hole completed - which remains open downhole."

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10 Mar 2023 11:16

EXECUTIVE CHANGES: Power Metal Resources picks new CEO, confirms chair

(Alliance News) - The following is a round-up of London-listed company director and manager changes announced this week and not separately reported by Alliance News:

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6 Mar 2023 18:51

IN BRIEF: Power Metal Resources raises funds to pay for drill costs

Power Metal Resources PLC - London-listed exploration company - Raises GBP257,825 through issue of 11.5 million shares at a price of 2.25 pence each. Plans to use proceeds for drill costs in relation to the recently completed Molopo Farms Complex diamond drill programme in Botswana.

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6 Mar 2023 14:08

Power Metal annual loss widens as operating expenses increase

(Alliance News) - Power Metal Resources PLC on Monday reported a higher loss in the financial year ended September 30, as operating expenses rose.

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20 Feb 2023 12:24

Power Metal boosts uranium portfolio; Haresign property reduced

(Alliance News) - Power Metal Resources PLC on Monday said it has gained "significant additions" to its uranium portfolio after a claim staking process on February 15.

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16 Feb 2023 16:50

UPDATE: Red Rock, Power Metal identify visible gold at Berringa mine

(Alliance News) - Red Rock Resources PLC and Power Metal Resources PLC both on Thursday said three holes have been completed in an inaugural drilling programme at the Berringa gold mine in the Victoria Goldfields joint venture in Australia.

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7 Feb 2023 14:45

TRADING UPDATES: Amaroq strikes gold; Power Metal completes drilling

((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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2 Feb 2023 22:01

TRADING UPDATES: Dillistone sees revenue growth; Petro plans fundraise

(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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TRADING UPDATES: Proton wins order; Caerus Mineral sells assets

(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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16 Jan 2023 11:55

Power Metal Resources raises GBP900,000 to push exploration projects

(Alliance News) - Power Metal Resources on Monday said it raised GBP900,000 to advance its exploration projects.

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Power Metal buys Doerksen Bay graphite project; forms new subsidiary

(Alliance News) - Power Metal Resources PLC on Wednesday said it acquired the 4,222-hectare Doerksen Bay graphite project in Saskatchewan, Canada.

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