(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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Zenith Energy Ltd - Calgary, Canada-based producer of oil, gas and electricity - Reports record profits for its electricity production activities in Italy, where its Torrente Cigno concession has been generating around 900 megawatt hours per month on average. Says the electricity was sold at the high price of EUR110 per megawatt hour, compared to prices of EUR45 to EUR55 per megawatt hour in September 2020. Records net revenues of around EUR 110,000 each month at its Italian concession, with monthly net production costs of only EUR35,000. Plans to extend its electricity production model on a larger scale in certain African jurisdictions.
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Corcel PLC - battery metals explorer in Papua New Guinea - Notes the sale of the Burwell industrial site freehold to an investment company. The site includes a brownfield industrial development alongside a plot where the company intends to build a 50 megawatt battery energy storage system. Says discussions with new site owners are underway.
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Greatland Gold PLC - natural resources company - Acquires exploration tenements in Paterson Province, Western Australia. The newly acquired tenement expands its footprint in the Paterson region by 1,000 kilometres squared, the company says, and includes areas strategically located between the Havieron and Telfer gold-copper deposits. The acquisition includes the Pascalle and Taunton tenements, plus two licence applications in the Paterson South area. Chief Executive Shaun Day says: "This is our first licence acquisition since Havieron...in one of the most prospective exploration areas for gold-copper deposits in Australia...These new exploration licences contain multiple magnetic and geophysical anomalies. The new ground sits under cover and remains untested, which will allow us to apply our proven record of discovery and exploration success to identify prospective Telfer, Winu and Havieron style mineralisation."
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Power Metal Resources PLC - exploration company seeking metal discoveries in the US, Australia and Africa - Begins Phase I work programme at its Authier North Lithium Property in Quebec, Canada. The company says it has delineated a significant lithium oxide reserve. The Authier North interest is held by the company's wholly-owned Canadian subsidiary Power Metal Resources Canada Inc. Chief Executive Paul Johnson says: "The geological proposition is that the lithium mineralisation may potentially extend into the Power Canada Authier North Property, and if so, that there is potential for a lithium discovery. Because of this geological potential Power Metal have been eager to accelerate exploration."
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IGas Energy PLC - oil and gas producer onshore in UK - Signs agreement with CeraPhi Energy for the repurposing of onshore, geothermal energy assets. Says the pair will jointly develop the energy projects, using wells in IGas's asset portfolio. Chief executive of IGas, Stephen Bowler, adds: "The signing of the agreement with CeraPhi is another important step in IGas's drive to diversify its operations, adding to the ongoing work on hydrogen production and carbon storage and bolstering our established geothermal offering."
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Dispersion Holdings PLC - decentralised finance investor using blockchain and cryptocurrencies to remove financial intermediaries from transactions - Says DeFi Technologies Inc has decided not to proceed with its takeover of DeFi Yield Technologies Inc, in which Dispersion has a shareholding. Says its investment in DeFi Yield is unaffected by the decision.
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Online Blockchain PLC - Ongar, England-based blockchain research and development company - Issues half of its supply of its cryptocurrency project, PlusOneCoin, which was developed together with global stocks, shares and crypto information website Advfn. Says there are now more than 10 million minable coins in circulation.
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Tungsten Corp PLC - London-based electronic invoices and purchase orders - Agrees to provide supply chain financing for an existing customer, which provides consumer-packaged goods. Says its implementation scope includes suppliers with current annual invoices totalling GBP6.7 billion across the Tungsten Network. The company notes that: "Since the launch of Tungsten's Supply Chain Finance partnership, it has financed in excess of GBP400 million of invoices...The SCF service uses Tungsten's automated and digitised invoice status data to help suppliers secure payables-led financing, offered at lower than typical market rates. This kind of financing supports suppliers with increased cash flow while providing working capital benefits to corporate buyers."
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By Scarlett Butler; scarlettbutler@alliancenews.com
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Greatland Gold (GGP)
Zenith Energy (ZEN)
Corcel (CRCL)
Power Metal (POW)