(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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Blencowe Resources PLC - London-based miner focused on developing the Orom-Cross graphite project and Akelikongo nickel project in Uganda - Receives an approach from a group in China that "has the potential to ultimately provide an offtake, funding and development scenario" for its 100%-owned Orom-Cross graphite project in Uganda. Company agrees to send a bulk smaple of around 100 tonnes from Orom-Cross to China to enable further metallurgical test work to be undertaken by the potential strategic party. It is hoped that this programme will initially lead to non-binding memorandums of understanding for offtake, and ultimately to binding sale agreements for a substantial portion of the initial 50,000 tonnes per year product to be produced from stage one within Orom-Cross. Also postpones its plans to build an on-site pilot plant facility of 2,000 tonnes per year at Orom-Cross. Says, as a direct impact of this decision, there is no longer a requirement to raise substantial cash in the near term.
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Wildcat Petroleum PLC - targeting investment opportunities in businesses and assets within the upstream sector of the petroleum industry, including the use of blockchain within the sector - Notes backing for natural resources specialist investor, Waterford Finance & Investment Ltd. Owner of Waterford, Mikhail Kroupeev, also takes a equity stake in Wildcat. Waterford subscribes for 10 million shares at a price of 0.5 pence per share for a total consideration of GBP50,000.
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CleanTech Lithium PLC - Lithium exploration and development company focused on Chile - Announces maiden inferred resource estimate at its Francisco Basin lithium project in Chile. Estimate of 530,000 tonnes lithium carbonate equivalent at a grade of 305 milligrams per litre. Estimate based on well FB01. Scoping study to commence at the Francisco Basin in the final quarter of 2022 for an expected base case production rate of 20,000 tonnes lithium carbonate equivalent per year.
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Redx Pharma PLC - Macclesfield, England-based clinical-stage biotechnology company focused on the treatment of cancer and fibrotic disease - Announces preclinical efficacy data in immune mediated models for RXC007, the company's fibrosis asset. Data shows the pleiotropic, anti-fibrotic effects of RXC007 in murine bleomycin-induced lung fibrosis and in murine sclerodermatous chronic graft versus host disease models. RXC007, dosed orally and therapeutically, was able to significantly reduce skin thickness, fibrosis and collagen deposition in the skin and lungs as measured by hydroxyproline, histological staining and scoring. RXC007 is currently in development for lung fibrosis, including idiopathic pulmonary fibrosis and auto-immune related interstitial lung disease.
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Caledonia Mining Corp PLC - gold producer with operations in Zimbabwe - Declares quarterly dividend of USD0.14. Says it is on track to hit production target of between 73,000 and 80,000 ounces of gold in 2022. Set to restart oxides operation at Bilboes with a view to creating a cash-generative operation within six months. Continues to evaluate investment opportunities in Zimbabwe. Adds production so far this year has been strong and exceeded expectations.
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By Heather Rydings; heatherrydings@alliancenews.com
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