TRADING UPDATES: Fulcrum hails Big Bear find; Aminex's Ruvuma progress

Thu, 02nd Mar 2023 17:24

(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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Aminex PLC - oil & gas investment company focused on Tanzania - Plans to accelerate production at Ruvuma asset in Tanzania have continued, with October 2023 now the target for production of first gas. "This acceleration in the gas production schedule will result in earlier gas revenues to the company (Q4 of 2023), decoupling the production of first gas from the spudding of the CH-1 well," Aminex says. Scirocco Energy PLC, which in Augus announced sale of 25% stake in Ruvuma, notes the announcement.

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Neometals Ltd - minerals and materials project development company - Strikes deal to formalise firm's 50% ownership of vanadium recovery joint venture company Recycling Industries Scandinavia AB. Gives Neometals right to appoint chair with casting vote. Remaining stake is owned by Scandinavian Resources Pty Ltd. Neometals subsidiary Ecometals immediately injects AUD3 million, GBP1.7 million, to fund exploration activities. Scandinavian Resources has until March 31 to match that investment to keep its 50% stake. If it does not, Neometals will own 75%.

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Good Energy Group PLC - Wiltshire, England-based supplier of renewable power and energy services - Begins domestic rooftop solar installation, just two months after sealing buy of Igloo Works. "This is a significant milestone and demonstrates how the acquisition of Igloo Works provides Good Energy with a platform to execute the company's strategy to expand its decentralised energy services offering and rapid consolidation of Good Energy's leading role in the solar space," Good Energy says. "The company has identified a key target segment of over 250,000 households considering a solar installation by 2026. In 2022, UK installations doubled to over 130,000 with high energy prices driving increased interest in households generating their own power."

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Fulcrum Metals PLC - multi-commodity minerals exploration company - Hails "successful" results from exploration of Big Bear property at Schreiber-Hemlo project area. "A total of 45 rock samples were collected for assay, with results confirming prospectivity, including high-grade gold results," Fulcrum says. Chief Executive Officer Ryan Mee says: "I am delighted to report on the successful exploration programme at the Big Bear property within our Schreiber - Hemlo project and our first announcement since listing on AIM last month." Panther Metals PLC, which holds a 2% net smelter return on Big Bear, notes announcement. Panther also has 20% interest in Fulcrum.

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By Eric Cunha, Alliance News news editor

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