(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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Ariana Resources PLC - mineral exploration and development company with gold mining interests in Turkey, Cyprus and Kosovo - Hails find of up to 11.83 grams of gold per tonne and up to 28.59 grams of silver per tonne at Tavsan project in western Turkey. Managing Director Kerim Sener says: "We are currently working on revisions to our geological model based on the new data, which will ultimately contribute to a revised mineral resource estimate. This in turn will be used to update production and development plans during Q1 2024, and we remain on track for first gold from Tavsan during Q2 2024."
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Ascent Resources PLC - European and Hispanic American project-focused oil and gas exploration and production company - Reports "material upgrade" to its estimate of proceeds it is entitled to, "which have already been received by its joint venture partner Geoenergo, following the recent positive arbitration interim award." More than doubles estimate to about EUR8 million from a previous guidance of EUR3.5 million. On October 25, Ascent said that it received a positive arbitration tribunal binding interim decision, confirming Ascent Slovenia Ltd's entitlement to proceeds above the baseline production profile from all wells in the concession area. The final arbitration decision is expected by Ascent towards the end of the first quarter of 2024.
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Eqtec PLC - Thermochemical conversion technology company - Confirms it has successfully completed all performance improvements and achievement of performance criteria set by its lender Banca del Fucino SpA, regarding a EUR2.9 million loan facility Eqtec entered in September. The lender has not been able to visit Eqtec's Italy Market Development Centre before the holiday period, with Banca del Fucino now set to visit in early January. Eqtec says it "expects to be able to draw down the amount of the full facility shortly after that visit, and will make a further announcement accordingly."
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Guild Esports PLC - London-based esports business - Enters one-year rolling partnership with eNDX, an esports player-focused platform, to add players from the company's Counter-Strike rosters into eNDX's tradable pool. "Guild will receive a percentage of revenue generated from the trading of Guild players on the site. The partnership is estimated to be worth up to six figures based on projected user acquisition and trading volume," Guild Esports says. Guild Esports Chief Executive Officer Jasmine Skee says: "Our partnership with eNDX establishes Guild's presence within the esports player trading landscape, as we become the first esports organisation to introduce both their male and female rosters onto this platform. As well as allowing users to trade in the future performance of their favourite players, eNDX provides a unique opportunity for driving fan engagement. We are delighted to see our exciting players added to this platform which offers a new avenue for fan participation within the overall esports experience."
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SulNOx Group PLC - London-based greentech company, which provides solutions towards decarbonising and improving the efficiency of liquid hydrocarbon fuels - Says continues to make "considerable progress" in Ghana via distributor Nationwide Technologies Ltd. Nationwide Technologies bought a further 3,700 litres of SulNOxEco and "verbally committed" to a minimum of further 15,000 litres per year, with the 15,000 litres worth around GBP250,000. SulNOx anticipates larger and more frequent orders "in the near future." Andrew Boye, head of Authentication Services at Nationwide Technologies, says: "I predict that several of the oil marketing companies will look to incorporate SulNOx in their forecourt pumps and distribute to their industrial customers in 2024, leading to significant sales in Ghana and the subregion as a whole."
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Valeura Energy Inc - Alberta, Canada-based Thailand and Turkey-focused oil and gas company - Completes an infill drilling campaign at Nong Yao oil field offshore Gulf of Thailand. "Results from the appraisal well have exceeded expectations," Valeura says. President & CEO Sean Guest says: "I am pleased to see continuing success at the Nong Yao field. This campaign focused on the area first developed at Nong Yao, and illustrates our team's ability to add volumes through infill drilling and to extend the economic life of our legacy producing assets. We are also focused on growth. Commercialisation of the Nong Yao C accumulation remains on track for infrastructure installation and development drilling starting in Q1 2024."
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By Tom Budszus, Alliance News slot editor
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Ariana (AAU)
Ascent Resources (AST)
Eqtec (EQT)
Guild Esports . (GILD)