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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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East Star Resources PLC - London-based Kazakhstan-focused gold and copper exploration and development company - Provides update following visual inspection and logging of core from drilling at the Verkhuba copper-zinc deposit in the Rudny Altai volcanogenic massive sulphide belt, Kazakhstan. Says visual inspection combined with X-ray fluorescence readings on core confirm the presence of copper and zinc mineralisation in the first 4 holes at Verkhuba. Adds copper mineralisation identified in all holes with multiple massive sulphide intervals recognised. Drilling has identified large thicknesses of disseminated copper mineralisation, not previously acknowledged or assayed in historical drilling. Core is currently being prepared for multi-element assay including copper, zinc and precious metals, company states.
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Thor Energy PLC - London-based uranium and vanadium explorer - Raises AUD1 million via a placing of 23.8 million shares at a price of AUD0.042. Notes strong support was received from existing and new shareholders, strengthening the company's share register. Says funds raised will be used to accelerate drilling activities at the US uranium and vanadium assets, including the proposed drilling programme at the Radium Mountain/Wedding Bell project, Colorado followed by a maiden drilling campaign at Vanadium King Project, Utah. Explains drilling contractor Boart Longyear is secured, with drilling to commence this month.
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Landore Resources Ltd - precious and base metal project explorer and developer, focused in the Canadian province of Ontario - Receives approval from the TSX Venture Exchange for the listing of its shares on the Exchange subject to certain pre-conditions and final documentation requirements. Says it is actively seeking to satisfy such pre-conditions at the earliest opportunity and will provide a further update on the expected commencement date for trading on the Exchange and its other corporate activities in due course. Whilst confident that the pre-conditions can be met, there can be no guarantee that the final approval of the Exchange will be obtained, company states. Believes securing a dual listing will greatly benefit the company and its shareholders and enable Landore Resources to reach a vast new pool of retail and institutional investors in North America.
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Galileo Resources PLC - mining company focused on Zambia, Zimbabwe, Botswana, South Africa and the US - Informs shareholders of the results of a licence-wide geophysical review and planning for a Phase 2 drilling programme at the Shinganda Project Copper-Gold Project, Zambia. Study shows high resolution aeromagnetics reveal a prospective structural setting with three large clusters of intense iron alteration towards the west. Says up to 2,000m of diamond drilling is planned to commence shortly to test multiple shallow copper-gold targets. Notes previous drilling at Shinganda has achieved some highly encouraging drill results.
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Kinovo PLC - London-based property services provider offering safety compliance and sustainability solutions - Notes the announcement by Rx3 Holdings Ltd stating that it does not intend to make a firm offer for Kinovo. Explains no further improvement was made in the offer price and given the board's view that the possible offer price was at an unsatisfactory level the directors did not believe it was appropriate to allow Rx3 to undertake due diligence. Intends to release a trading update on its performance for the six months to September 30 in early November, and can confirm that this is expected to be in line with expectations. Remains confident about the prospects of Kinovo and shareholders do not need to take any action.
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Red Rock Resources PLC - Africa, South America and Australia-focused natural resource exploration and development company - Updates on the company's operations, through its subsidiary African Lithium Resources (Pvt) Ltd in Zimbabwe. Says three samples of approximately 2 kilograms each from the pegmatite at the first permitted area were sent for testing at Performance Laboratories, an ISO-accredited laboratory in Harare, Zimbabwe offering analytical and assay services to the mining industry. A further sample was taken near the pegmatite. Adds results have now been received and sent for review by potential overseas customers. Red Rock Chair Andrew Bell comments: "These high grade Lithium Oxide results show the potential that exists, and we continue discussions with potential customers and contractors. Further news will be released as it becomes available."
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By Jeremy Cutler, Alliance News reporter
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