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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Botswana Minerals PLC - copper and diamond explorer, previously known as Botswana Diamonds - Raises GBP1.2 million via placing and subscription with existing and new investors at 0.25 pence per share. Each placing share has one share purchase warrant attached with the right to subscribe for one new ordinary share with an expiry date of one year from today, being the expected date of the placing warrants issue. Funds will be used primarily to further the exploration programme on its copper-focused prospecting licences in North-West Botswana, as well as for working capital purposes. The exploration programme is designed to take the high-priority anomalies to drill targets. In addition, appoints Rory Harding as non-executive director with immediate effect. Harding, an emerging markets specialist with experience in energy, mining and investment banking, is also currently chief executive of AIM listed Arkle Resources PLC.

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Ground Rents Income Fund PLC - London-based property investor - Sells freehold ground rent interests in Manchester and Southampton for a combined GBP4.6 million. The price represents a 0.6% discount to the independent valuation of GBP4.7 million, and reflects a net initial yield of 5.3%. The assets are operated by Vita Group as purpose built student accommodation on behalf of the long leaseholders. The interests are being acquired by an unrelated third party. The assets were acquired from Vita in 2014 for GBP4.0 million. Further disposals are progressing. An update on the company's strategy will be included in the half year results for the six months ended March, expected to be published in June.

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Astrid Intelligence PLC - London-based company specialising in artificial intelligence, formerly known as Cel AI PLC - Provides an update on its operational participation in Subnet 71, a bittensor-based AI network focused on lead generation services. Says its position has increased to Subnet 71 tokens worth GBP500 000 from around GBP400,000 as at December 1. Astrid's participation in Subnet 71 forms part of its broader strategy to operate across multiple subnets within the bittensor ecosystem, supporting network activity while integrating with emerging AI services.

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Zenith Energy Ltd - Calgary, Canada-based oil company, which has interests in Italy, Tunisia and the US - Announces the acquisition of an additional agrivoltaic development project, with an installed capacity of approximately 10 megawatt-peak, located in Lazio, Italy, for just over EUR1.0 million payable upon securing all required permits and achieving ready-to-build status at the conclusion of the development process. The project is expected to produce approximately 14-15 gigawatt hours of

electricity per year once in operation. Following the acquisition, Zenith's solar development pipeline is now in the total amount of 173.5MWp, all secured in less than 12 months. The company is currently awaiting an independent valuation of the portfolio. "It is encouraging to see the market beginning to recognise the value of our solar business, with this increasingly reflected in our market capitalisation. We remain focused on further portfolio growth and on unlocking additional value in the near term," Andrea Cattaneo, chief executive officer, comments.

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Surface Transforms PLC - producer of carbon-ceramic automotive brake discs - Says it has engaged in multiple discussions with key stakeholders to seek additional funding to support continued trading activities following announcement of loss of General Motors Co contract earlier this month. But last week, resolved to lodge a notice of intention to appoint administrators. In parallel to the detailed planning for an insolvency, board determines to conduct a strategic review of the funding and other options for the company to seek to maximise value for all stakeholders. Options include a sale of all or part of the company, a capital injection, a restructuring of liabilities, and a sale of Surface Transforms via a formal sale process. As part of the review, invites expressions of interest from parties regarding a potential offer for the company.

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Novacyt SA - biotechnology group focused on clinical diagnostics - Raises EUR784,736 via a preferential subscription rights issue. This was to allow existing shareholders to participate in an equity raise following the announcement of the completion of the acquisition of Southern Cross Diagnostics Pty Ltd. Chief Executive Lyn Rees says: "We are pleased to see this conclude successfully and would like to thank our new and existing shareholders for taking part. The board is confident with the future value this earning accretive acquisition will have on the group and outlook."

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Power Metal Resources PLC - metals explorer with projects in North America, Africa, Saudi Arabia and Australia - Announces a strategic investment of USD1 million for 2.6% in Next Minerals SA, a Chile-based mining company focused on the development of medium scale copper operations. This gives exposure to the mine-ready Comahue underground copper mine in the coastal copper belt in Antofagasta, Chile. Chief Executive Sean Wade says: "This strategic investment in Next Minerals represents an important step in building further, meaningful exposure to copper within our portfolio, on a large scale in a premium copper jurisdiction." The Comahue mine offers Power Metal shareholders "access to a project that can advance to production on an accelerated timescale with all key permits and approvals granted, as well as a large exploration footprint, and in a time where we are seeing an attractive copper market," he adds.

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By Jeremy Cutler, Alliance News reporter

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