Power Metal Resources PLC Share News (POW)

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

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Total Graphite PLC - specialist flake graphite supplier, formerly called Tirupati Graphite PLC - On Friday, provides a development strategy update and next steps for its natural graphite assets in Mozambique. Says it is in the process of identifying and engaging with consultants to update the earlier completed definitive feasibility study and value engineering study of the Montepuez project. This will, among other things, revalidate project economics using current cost and pricing assumptions and assess a potentially lower capital intensity, phased development strategy. It plans to commence similar feasibility study work streams for the Balama Central project later in the year. On Wednesday, the company announced the proof of concept and ongoing development of its newly launched business trading in high value, downstream processed graphite materials. This represents a first step towards a fully vertically-integrated, commercial business model.

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Clontarf Energy PLC - oil, gas and minerals explorer with projects in Bolivia and Ghana - Says it is engaging with the new Bolivian President Sergio Soliz Gomez and its local representatives expect to meet with officials in the coming weeks. The company's immediate objective is to enter into a memorandum of understanding with Yacimientos de Litio Bolivianos which would enable it to obtain large bulk samples from the Coipasa and Uyuni brine deposits for shipping and then processing at the Next-ChemX pilot plant in India. In addition, says it continues to evaluate new opportunities in line with its strategic objectives. Over the past few months, it has reviewed a number of potential projects deemed unsuitable.

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Redcentric PLC - Harrogate, North Yorkshire-based IT managed services provider - Completes the GBP122.9 million sale of its data centre business, Redcentric Data Centres Ltd, to Stellanor Datacenters Group Ltd. "This marks a pivotal milestone for the group, enabling a substantial return of capital to shareholders, significant debt reduction, and a sharpened strategic focus," it says. Intends to propose an equity tender offer at 160 pence per share worth around GBP90 million. In addition, Redcentric says it may make on-market purchases of its own ordinary shares. Further, the firm will reduce its revolving credit facility from GBP60 million to GBP30 million and repay a significant portion of the drawn facility, lowering it from GBP40 million to GBP19 million.

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Star Energy Group PLC - Lincoln, England-based energy producer in the UK - Raises GBP8.5 million via a placing and subscription at 15 pence per share and eyes a further GBP600,000 from a retail offer at the same price. Zeus Capital Ltd is acting as nominated adviser to Star Energy and broker and bookrunner and VSA Capital Ltd is acting as agent in connection with the placing. Chief Executive Ross Glover says: "We are delighted with the strong support shown by our existing shareholders. This successful placing represents a clear vote of confidence in Star Energy, our people and our strategy. It gives us the platform to move forward with our plans to materially grow production."

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Power Metal Resources PLC - metals explorer with projects in North America, Africa, Saudi Arabia and Australia - Announces supplementary drill core sampling results from the Perch River uranium property in Saskatchewan. The property is held under Power Metal's uranium-focused joint venture with Fermi Exploration Ltd. After reviewing results, Power Metals considers the structure to be "fertile" with scope for significant uranium mineralisation at depth. Chief Executive Sean Wade says: "These supplementary results fundamentally upgrade the prospectivity of the Perch River property. While our 2025 drill programme did not intersect primary uranium, the identification of classic near-miss indicators, confirms we have successfully drilled into the upper halo of a potentially fertile hydrothermal system. Crucially, the highly anomalous radiogenic lead acts as a direct vector, giving our technical team clear justification for potentially high-grade core at greater depths. This data transforms Perch River into our highest priority target for follow up drilling."

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Union Jack Oil PLC - onshore exploration, development and production in the UK and US - Further to announcement in April, says it has been informed by Reach Oil and Gas Co Inc that the rig at Crossroads Well in Southern Oklahoma is still undergoing maintenance and repair. A spud date will be provided in early May. Union Jack currently holds a 43% interest in the project. The company's share of the drilling costs have already been funded from its existing cash resources. Reach Oil and Gas is the operator of the project.

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GenIP PLC - London-based generative AI services provider - Plans to raise GBP350,000 through a placing at 7 pence per share. Around GBP100,000 of funds will be allocated to staffing, GBP150,000 to R&D and GBP100,000 for general working capital purposes, including fundraising fees. "This fundraise comes at a time of significant commercial momentum for GenIP. The proceeds will enable us to improve the monetization of the increasing network of partnerships and alliances and continue the programme of product development. This places the company in a stronger position for a successful rest of FY2026," says Chief Executive Melissa Cruz.

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By Jeremy Cutler, Alliance News reporter

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