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Power Metal #POW – Option Agreement for Botswana Gold-Nickel Project

Option Agreement – Botswana Gold-Nickel Properties

Company has Signed an Option Agreement to Acquire a 100% Interest in Two Gold – Nickel Prospecting Licences in the Tati Greenstone Belt, Botswana, with a down payment on drilling.

Power Metal Resources PLC (LON:POW) the AIM listed metals exploration and development company is pleased to announce it has secured an option (the “Option”) to acquire two prospecting licences (“PLs”) prospective for gold and nickel and located upon the Tati Greenstone Belt, Botswana.

The Option allows for a 60 business day due diligence period, and should Power Metal exercise the Option, it will undertake the licence acquisitions through its newly formed 100% owned subsidiary Power Metal Resources Botswana (Pty) Limited (“Power Metal Botswana”).

 

Paul Johnson, Chief Executive Officer of Power Metal Resources, commented:

“We recently formed Power Metal Botswana to provide a holding company for new acquisitions in Botswana and I am pleased to announce this first transaction.  Subject to due diligence, this acquisition would give the Company exposure to a new strategic project in the heart of the Tati Greenstone Belt, an under explored area which we believe holds considerable potential for new gold and nickel discoveries.

This announcement further confirms the Company’s commitment to expanding our operational interests in Botswana, which is a first class destination for responsible exploration companies.  Uniquely, the transaction incorporates an Option fee that is convertible into a down payment against project drilling in Botswana.

I look forward to providing further information as our due diligence work progresses.”

Vendor and Prospecting Licence Information

Vital Commodities Pty Ltd, a company registered and Incorporated in Botswana (“VC”) VC is a private Botswana company that owns two prospecting licences in Botswana, (the “Vendors”). VC is 100% owned by Equity Drilling Limited, a company registered and incorporated in Guernsey.

 

The PLs owned by the Vendors and the subject of this transaction are as follows:

PL127/2019

PL127/2019 is located near the southern extent of the north-northwest striking Tati Greenstone Belt, roughly 40km southwest of Francistown, Botswana, and less than 7km from the Mupane underground gold mine.

PL127/2019 covers a total area of 89km2 and is prospective for orogenic gold and intrusive magmatic nickel mineralisation.

Several untested kilometre-scale Arsenic (‘As’)- and Gold (‘Au’)-in-soil anomalies extend onto PL127/2019 from the northeast and southeast.

The licence is also believed to cover the southern extent of prolific gabbroic-troctolitic intrusions which host the Phoenix, Selkirk and Tekwane Ni-Cu-PGE rich deposits located along the periphery of the Tati Greenstone Belt less than 7km from the licence. The magmatic Ni-Cu-PGE potential the licence possesses has been generally overlooked by previous operators.

PL126/2019

PL126/2019 is located near the northern extent of the Tati Greenstone Belt, less than 10km southeast of Francistown and is adjacent to the Golden Eagle deposit (Shashe Mining Licence).

PL126/2019 covers a total area of 35km2 and is prospective for orogenic gold mineralisation. The licence hosts several untested arsenic and gold in-soil anomalies as well as a large historic mine dump which has received little known follow up or modern exploration.

Tati-Greenstone Belt Information

The Tati Greenstone Belt (“TGB”) is located in the vicinity of Francistown, adjacent to the Zimbabwe border, in north-eastern Botswana. With a total strike length of 65km and up to 20km in width the TGB hosts a large number of orogenic style gold deposits and several economically significant intrusive magmatic Nickel-Copper-Platinum Group Elements (“Ni-Cu-PGE”) rich sulphide deposits.

A gold rush started at Tati in 1867 leading to the establishment of Francistown and over 70 reported small scale gold mining operations.

The TGB is Botswana’s only gold producing region with the Mupane gold mine (held by Galane Gold Ltd) being the country’s only major gold producer. Mupane was formerly an open-pit operation and is now an underground mine. It is located in the southern part of the TGB.

The known nickel deposits on the greenstone belt consist almost entirely of disseminated to semi massive sulphide bodies hosted by a series of late stage gabbroic-troctolitic intrusive bodies. Significant nickel operations which operated until 2016, included the former Tati Nickel Mining’s Selkirk underground mine which commenced production in 1989 and the Phoenix open pit which started in in 1995. Both deposits are located in the south-central portion of the TGB.

Geologically the TGB is part of the Francistown Arc Complex within the southern margin of the Archean age Zimbabwe Craton in the northern contact zone of the Limpopo Belt. The principal lithologies of the TGB are lower greenschist to lower amphibolite facies volcanic and sedimentary rocks, constrained by three fault-bounded volcano-plutonic sequences which are intruded by granitoids.

Whilst there is a long history of small scale gold mining on the TGB, the Company believe it to be  underexplored by modern standards and systematic exploration focussing on areas with sand cover and geophysics targeting greater depths, are likely to yield further gold and nickel discoveries.

Option Agreement Information

The Option:

  • Power Metal has signed an option agreement to acquire a 100% interest in PL 126/2019 and PL 127/2019, being two granted prospecting licences in Botswana within the Tati Greenstone Belt and held by the Vendors.
  • The Option provides a 60 business-day period, during which Power Metal may undertake due diligence and notify the Vendors of Option exercise to acquire 100% of P L 126/2019 and PL 127/2019 from the owner of the said prospecting licences.
  • The Option fee is to be satisfied through a cash payment of £50,000 to the Vendors.  The full amount of £50,000 paid may be credited and offset from the cost of the drilling u ndertaken by Equity Drilling Limited (100% owner of VC) at the two PLs which are the subject of this Option or at other Power Metal interests in Botswana. The payment will be made using existing Power Metal cash resources.

Upon Option Exercise:

  • VC will subject, to local authority approvals, arrange immediate transfer PL 126/2019 and PL 127/2019 into Power Metal Botswana.
  • The consideration items outlined below, following Option exercise, will not become due and payable until the necessary local authority approvals for the transfer to Power Metal Botswana have been received and the transfer completed.
  • Should Power Metal at its sole volition exercise the Option for the acquisition of PL 126/2019 and PL 127/2019, the Company will pay an initial consideration of £25,000, payable through the issue to the Vendors of 833,333 new ordinary Shares of 0.1p each in the Company (“New Ordinary Shares”) at an issue price of 3.0 pence per New Ordinary Share (“Initial Exercise Shares”).
  • Thereafter should Power Metal elect to proceed with the year 3 exploration spend programme (for the year ending 30 September 2022) it will pay a further consideration of £50,000, payable to the Vendors through the issue of 833,333 New Ordinary Shares at an issue price of 3.0p each for each licence where such spending is confirmed, thereby if both confirmed then 1,666,666 New Ordinary Shares would be issued (the “Further Exercise Shares”).
  • In addition, Power Metal will pay a single further consideration payment of £100,000 through the issue the Vendors of 3,333,333 New Ordinary Shares at an issue price of 3.0p (“Final Exercise Shares”) if either of the two following conditions are met:

– (1) Confirmation of a 250,000 oz JORC (2012) compliant gold Mineral Resource across the two prospecting licences

– (2) Confirmation of a 5,000,000 tonne economic nickel deposit at a grade of >1.5% nickel.

  •  Additionally, the Company shall issue to VC 5,833,332 warrants (the “Vendor Warrants”) in two separate tranches of 2,916,666 warrants each:
    • 2,916,666 Vendor Warrants shall be issued to acquire New Ordinary Shares at an exercise price of 5p per share, exercisable over a 2-year period from today’s date and which are only exercisable on completion of drilling against which the £50,000 offset payment has been made and successful transfer of PLs 126/2019 and 127/2019 to Power Metal Botswana (the “5p Vendor Warrants”). The 5p Vendor Warrants shall be subject to a 5-day VWAP accelerator, by which should Power Metal shares trade above 10p for 5 trading days then the Company shall have the right to serve notice on VC that it must exercise and pay for the exercised 5p Vendor Warrants within 14 calendar days or the 5p Vendor Warrants shall be cancelled.
    • 2,916,666 Vendor Warrants shall be issued to acquire New Ordinary Shares at an exercise price of 7.5p per share, exercisable over a 2-year period from today’s date and which are only exercisable on completion of drilling against which the £50,000 offset payment has been made and successful transfer of PLs 126/2019 and 127/2019 to Power Metal Botswana (the “7.5p Vendor Warrants”). The 7.5p Vendor Warrants shall be subject to a 5-day VWAP accelerator, by which should Power Metal shares trade above 15p for 5 trading days then the Company shall have the right to serve notice on VC that it must exercise and pay for the exercised 7.5p Vendor Warrants within 14 calendar days or the 7.5p Vendor Warrants shall be cancelled.
  • Up to 30 September 2022 Power Metal will engage VC to quote for all drilling activities undertaken on PL 126/2019 and PL 127/2019.
  • The Vendors and their professional licensing and geological teams will continue to work with Power Metal following Option exercise to manage licences and third party relationships, undertake ground exploration and to help where appropriate to further build the licence footprint in Botswana. Reasonable commercial terms will be agreed for any additional work undertaken.

Glossary:

Orogenic Gold (Deposits) – Gold deposits found within metamorphic belts which form as a result of major crustal deformation events.

Intrusive Magmatic Nickel (Deposits) – Nickel deposits found at the base of large mafic and ultramafic intrusive bodies. 

Arsenic-in-soil anomaly – Geochemical anomaly defined by increased arsenic levels over background.

Gold-in-soil anomaly – Geochemical anomaly defined by increased gold levels over background.

PGE – Platinum group elements (ruthenium, rhodium, palladium, osmium, iridium, and platinum)

Gabbroic-troctolitic intrusives – Coarse grained, dark coloured, intrusive rocks composed mainly of pyroxene, plagioclase and minor amounts of amphibole and olivine.

Lower greenschist to amphibolite facies – Metamorphic rocks with increased chlorite, serpentine, and epidote (greenschist), or amphibole and plagioclase (amphibolite) which are indicative of a high degree of metamorphism caused my intense heat and pressure in the subsurface.

Granitoids – Coarse grained igneous rock composed mostly of quartz, alkali-feldspar and plagioclase.

 

COMPETENT PERSON STATEMENT

The technical information contained in this disclosure has been read and approved by Mr Nick O’Reilly (MSc, DIC, MIMMM, MAusIMM, FGS), who is a qualified geologist and acts as the Competent Person under the AIM Rules – Note for Mining and Oil & Gas Companies. Mr O’Reilly is a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by Power Metal Resources PLC to provide technical support.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.

For further information please visit https://www.powermetalresources.com/ or contact:

Power Metal Resources plc

Paul Johnson (Chief Executive Officer)

+44 (0) 7766 465 617

SP Angel Corporate Finance (Nomad and Joint Broker)

Ewan Leggat/Charlie Bouverat

+44 (0) 20 3470 0470

SI Capital Limited (Joint Broker)

Nick Emerson                                                                                                           

+44 (0) 1483 413 500

First Equity Limited (Joint Broker)

David Cockbill/Jason Robertson

+44 (0) 20 7330 1883

Alan Green joins the UK Investor Magazine podcast to discuss the commodities super cycle – Mast Energy Developments #MAST, Advance Energy #ADV and Caerus Mineral Resources #CMRS

Alan Green discussed the commodities super cycle on the UK Investor Magazine Podcast as it began at the beginning of 2021. Since then, major commodities indices have increased dramatically with copper touching 10 year highs and Oil breaching $70.

Demand for commodities is increasing as economies reopen after the pandemic and under investment in commodity exploration and development has caught supply off guard leading to higher prices. This is particularly evident in Lumber markets which has seen $25,000 added to the cost of constructing the average US home.

With the Federal Reserve hinting QE tapering is some way off, meaning interest rate increases won’t be happening for some time, the path is clear for further commodity price rises. We explore what this means for equity markets and how commodities shares could outperform over the next decade.

We discuss Mast Energy Developments (LON:MAST), Advance Energy (LON:ADV) and Caerus Mineral Resources (LON:CMRS).

Echo Energy plc (ECHO) – Final results

Final Results

Echo Energy plc, the Latin American focused full cycle energy Company, is pleased to announce its audited results for the financial year ended 31 December 2020.

2020 Highlights:

  • Fourfold increase in revenue to US $11.1 million (2019: US $2.6 million)
  • Favourable fiscal environment have led to the receipt of certain VAT payments, improving business cashflow.
  • Santa Cruz Sur net daily production in 2020 totalled 1,966 boepd:
    • 10.2 mmscf/d of natural gas
    • 259 bbls/d of oil and condensate
  • In 2020, Echo’s net cumulative production was 0.72 MMboe:
    • 3,750 mmscf of natural gas
    • 94,693 bbls oil and condensate
  • Company estimated reserves and resources as at 31 December 2020 net to Echo’s 70% interest:
    • 1P (Proved): 3.13 MMBoe
    • 2P (Proved & Probable): 4.06 MMboe
    • Contingent Resources (High estimate): 7.20 MMboe (Best estimate 6.51 MMboe)
  •   Adapted swiftly during the period to challenges presented by COVID-19, reorganisation along value chains enabled Echo to lower operating costs and improve efficiencies

Post period end

  • Company successfully completed the restructuring of both the Company’s EUR 20.0m 8.0% secured notes and the Company’s EUR 5.0m 8.0% secured convertible debt facility loan. This represented a landmark step for the business by materially improving the financial outlook through the deferral of maturity until Q2 2025 and no cash interest payments prior to the maturity date. The agreement, with the support of the debt holders not only substantially strengthens the balance sheet it enables for the reinvestment of cashflow into the business to drive further growth.
  • Secured new gas sales contracts at premium rates to the prevailing spot markets in early Q1 2021.
  • Echo entered into a cooperation agreementwith GTL International S.A. (“GTLI”) to seek future opportunities in Bolivia.

Martin Hull, Echo’s Chief Executive, commented:

“Echo’s resilience during a very challenging year has ensured that we have been able to continue our operations efficiently and build firm foundations commercially and operationally despite the difficult external conditions. Not only have we made significant cost-saving efforts across the Company and rebalanced our financial position to provide increased flexibility, but we have also achieved tremendous operational progress across our SCS assets where we currently benefit from a favourable fiscal environment and attractive gas sales agreements with key customers. Moving forward, we are excited by the continuing expansion opportunities at our SCS assets, where we aim to maximise production potential, and we are also encouraged by the potential for new hydrocarbon and/or renewable energy prospects in neighbouring Bolivia and elsewhere in the Region. The framework for 2021 and beyond has now been set in place, and we look forward to capitalising on our various growth catalysts.”

 

For further information, please contact:

Echo Energy

Martin Hull, Chief Executive Officer

 

via Vigo Communications
Vigo Communications (PR Advisor)

Patrick d’Ancona

Chris McMahon

 

+44 (0) 20 7390 0230
Cenkos Securities (Nominated Adviser)

Ben Jeynes

Katy Birkin

 

+44 (0) 20 7397 8900
Shore Capital (Corporate Broker)

Jerry Keen

+44 (0) 20 7408 4090

 

Link to the full announcement and statements here.

Power Metal (POW) – New Incubator Subsidiary, Power Capital Investments Ltd

New Resource Project Incubator Subsidiary

Power Metal Resources PLC (LON:POW) the AIM listed metals exploration and development company is pleased to announce it has established a new 100% owned and subsidiary ‘incubator’ business: Power Capital Investments Ltd (“Power Capital”). Power Capital will initially be fully funded by Power Metal.

Power Capital will actively identify small, entrepreneurial business ventures with significant growth potential in the junior resource space and provide support with regard to business management, project development and corporate development to enable them to scale rapidly and realise their potential.  Power Capital may also provide financial support.

Power Capital will look to develop these fledgling, high-potential early stage ventures, to the point of sale, public listing, or incorporation into the Company’s portfolio, dependent on a set of key performance indicators to be established.

As a major shareholder in each selected business, Power Capital, and thereby Power Metal, has the opportunity for significant capital appreciation from each successful venture together with a self-created pipeline of new resource projects for operational development by Power Metal.

Power Capital is the next step in Power Metal’s quest to build a strong, diversified and successful company and to create significant value for its shareholders.

Paul Johnson, Chief Executive Officer of Power Metal Resources commented:

“We are delighted to announce the establishment of a new ‘incubator’ subsidiary business, Power Capital Investments Ltd.

We are aware that across the globe, there are numerous opportunities with huge potential for discovery that can struggle to get past the initial phase of conception, due to a combination of funding restrictions and lack of managerial resources to apply to corporate development. Power Capital provides our highly experienced team at Power Metal the chance to access, screen, and select only the very best of these opportunities, and to nurture the growth of these fledgling companies in exchange for equity.

It is expected that over time, Power Capital will further strengthen Power Metal’s portfolio of projects and create further value for our shareholders, as successful ventures are either incorporated into our portfolio, sold, or listed publicly.”

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.

For further information please visit https://www.powermetalresources.com/ or contact:

Power Metal Resources plc

Paul Johnson (Chief Executive Officer)

+44 (0) 7766 465 617

SP Angel Corporate Finance (Nomad and Joint Broker)

Ewan Leggat/Charlie Bouverat

+44 (0) 20 3470 0470

SI Capital Limited (Joint Broker)

Nick Emerson                                                                                                           

+44 (0) 1483 413 500

First Equity Limited (Joint Broker)

David Cockbill/Jason Robertson

+44 (0) 20 7330 1883

Blencowe Resources Plc (BRES) – Stage Two Drilling Program Commences

Stage Two Drilling Program Commences at Orom-Cross Graphite Project

Highlights:

  • Stage Two 2,200m (74 holes) diamond drilling program underway in Uganda.
  • Designed to define a +10Mt TGC Measured and Indicated Resource from existing 16.3Mt.
  • Fully funded through existing cash resources.
  • Previously drilled high grade zones in Northern Syncline and Camp Lode to be included in new upgraded resource.
  • Additional in-fill drilling to provide basis for mine planning, delivery of geotechnical and other information, for inclusion in Pre-Feasibility Study (PFS).

Blencowe Resources Plc (“Blencowe Resources” or the “Company”) (LSE: BRES) is pleased to announce the commencement of the Stage Two drilling program at Orom-Cross, designed to in-fill the recently announced JORC Resource and upgrade substantial tonnes into the Indicated and Measured categories. This additional program will progress Orom-Cross along its development path towards first production, and will be executed using the Company’s in-country technical partners, ADT Drilling and Minrom Consulting. Additional resources will also be targeted in the current programme, with drilling also focusing on proven high grade areas, as yet not included in the maiden JORC Resource.

On 13 April 2021, Blencowe announced its maiden JORC Resource estimate for Orom-Cross, less than one year after acquiring the Project. The commencement of Stage Two, so soon after the highly successful maiden drilling programme, underlines the Company’s focus to add significant value efficiently and cost-effectively within this development phase.  The drilling campaign will progress in parallel with the ongoing metallurgical test work, with leading graphite expert SGS Lakeside in Toronto/Canada, the results of which are expected later this quarter.  The drilling program will take approximately 2-3 months to complete, with a similar amount of time thereafter to prepare samples, complete all assaying and provide a JORC Resource update. The Company will provide updates during the drilling campaign as appropriate.

The maiden JORC Resource delineated a 16.3Mt TGC resource at Orom-Cross, almost twice the size as the originally targeted. This next phase of development will bring the drill spacing closer together to ensure continuity of both product and grade, as required for mine planning within the PFS that will follow.

The Stage One drilling program also located higher grade graphite in the Camp Lode, which was only partially explored. Stage Two will therefore also target parts of the Camp Lode to bring it into the overall JORC Resource for the first time, which is likely to have a material positive impact on both grade and tonnes.

Cameron Pearce, Executive Chairman commented;

“I am delighted to announce the commencement of our fully funded Stage 2 drilling program, which we expect will add further material value to the Orom-Cross graphite project in Uganda. We are moving quickly towards the feasibility studies phase and this current drill program is designed not only to expand the resource’s size, grade and classification, but also ensure that all necessary geological and mining information required for those studies is subsequently available.  We have already come a long way in a short period of time at Orom-Cross. We look forward to the results of this next phase of drilling and the results of the ongoing metallurgical studies with great optimism.

“We remain firm believers that the battery metals market is only just beginning its massive growth cycle over the next decade. We believe this once-in-a-generation transformation will continue to expand exponentially into the future.  Benchmark Minerals Intelligence recently announced that over two hundred lithium-ion battery Megafactories are now in the pipeline worldwide, a significant growth from just seventy factories three years ago. These represent millions of tonnes of future graphite demand in the years ahead and support the positive outlook for the graphite market.

Accordingly, we are resolute in our position that Orom-Cross offers significant value and the ability to play a substantial role in helping to ease the significant forecast deficit of graphite in the future.  We have already been issued a 21-year mining license at Orom-Cross, which not only considerably de-risks our work ahead, but also should help the Company advance the asset into production in an expeditious manner.

I look forward to updating the market on the results of the metallurgical test work later this quarter.”

 

For further information please contact:

  Blencowe Resources Plc

Sam Quinn

Investor Relations

Sasha Sethi

www.blencoweresourcesplc.com

Tel: +44 (0)1624 681 250

info@lionsheadconsultants.com

Tel: +44 (0)7891  677 441

sasha@flowscomm.com

Brandon Hill Capital Limited

Jonathan Evans

Tel: +44 (0)20 3463 5000

jonathan.evans@brandonhillcapital.com

 First Equity Limited                                                            Tel: +44(0)20 7330 1883

 Jason Robertson                                                                  jasonrobertson@firstequitylimited.com

Background

Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of larger flakes identified from previous work performed. A 21-year Mining Licence was issued by the Ugandan Government in 2019 following extensive historical work on the deposit.

Orom-Cross presents as a large, shallow open pitable deposit, with an estimated resource in excess of 3 billion tonnes of graphite. Development of the resource is expected to benefit from a low strip ratio and free dig operations, thereby ensuring lower operating and capital costs.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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END

Power Metal #POW – Australia Gold Joint Venture – Further Licences Granted

Two further licences granted with the JV now holding seven granted licences

Power Metal Resources plc (LON:POW) the AIM listed metals exploration and development company is pleased to announce an update in respect of Red Rock Australasia Pty Ltd (“RRAL”) a joint venture company with gold exploration interests near the historic mining centre of Ballarat in the Victoria Goldfields.

Power Metal has a 49.9% interest in RRAL, with Red Rock Resources plc (“Red Rock”)(LON:RRR)  holding a 50.1% interest.

Highlights:

  • Following grant to RRAL of its first five gold exploration licences in Victoria, announced on 2 February 2021 and 17 March 2021, a further two licences have now been granted:
    • EL007329 (Evergreen) covering 484 sq km
    • EL007301 (Mt Bute), covering 85 sq km.
  • The seven granted licences in Victoria now cover an exploration area of 848 sq km, including numerous old mines and workings and identified geological targets.
  • With the bulk of the ground covered by the previously prepared NI 43-101 technical report (1) now at granted status, the IPO process for RRAL will accelerate.

(1) A copy of the NI 43-101 technical report may be viewed on the Power Metal website through the following link:   https://www.powermetalresources.com/Uploads/2020-09-21-0078-Caracle-KineticsRM_RedRock_NI43-101_Sept21_2020_F_complete.pdf  

 

Paul Johnson, Chief Executive Officer of Power Metal Resources commented :

“Today’s news marks a key point in the development of RRAL with the grant of the Evergreen tenement which is one of the larger licence applications and sits in an area of particular interest as demonstrated by increasing investment by peer companies in project acquisition and exploration.

Grant of the two licences moves the IPO process front and centre. We believe that the core interests of RRAL forming the basis for an IPO on the Canadian capital markets represents one of the most comprehensive investment opportunities in the Victoria Goldfields for Canadian and international investors.

RRAL are therefore moving forward at pace with both project exploration and corporate listing developments.”

 

FURTHER INFORMATION

Joint Venture Company – RRAL

RRAL is a joint venture company 50.1% owned by Red Rock and 49.9% owned by Power Metal Resources plc. Paul Johnson, CEO of Power Metal and Andrew Bell, Chairman of Power Metal and Red Rock, are directors of RRAL.

Granted Licences

RRAL has seven granted licences over an area of 848 km2 and covering high priority areas where RRAL has early drill targets that it is developing.

Licence Number

Project Name

Area (km2)

EL007271

 

Blue Whale

133

EL007281

 

Blue Chip

74

EL007285

 

Blue Ribbon

8

EL007301

Mt Bute

85

EL007327

Blue Stocking

60

EL007329

Evergreen

484

EL007385

Sardinia

  4

Total

848

 

Applications

RRAL has licence applications in process for nine other new gold exploration licence areas covering approximately 1,488 km2 in the Victoria Goldfields of Australia as follows:

 

Licence Application Number

Project Name

Area (km2)

EL007282

 

Blue Sky

489

EL007294

Red Queen

130

EL007328

Blue Yonder

168

EL007330

Blue Angel

202

EL007460

Kilmore West

349

State land within EL007271

 

(EL007505

EL007506

EL007507)

 

 

 

 

 

 

 

(9)

(9)

(8)

EL007540*

(3 competing applications)

 

Outer Ballarat

148

Total

c 1,486

 

* Balmaine Gold Pty Ltd, Mercator Gold Australia Pty Ltd, and Loddon Gold Pty Ltd have put in competing applications the same day as RRAL for the ground covered by EL007540. The application considered to have greatest merit will eventually be given priority.

 

In addition to the Victoria Goldfields above RRAL has also made exploration licence applications in Western Australia as included in the table below.  Please note where indicated below and there is another applicant the application will be subject to a ballot.

EL45/5859

(One competing application)

Paterson

227

EL45/5885

Pilbara/Paterson

70

EL45/5881

(One competing application)

Pilbara/Paterson

33

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.

For further information please visit https://www.powermetalresources.com/ or contact:

Power Metal Resources plc

Paul Johnson (Chief Executive Officer)

+44 (0) 7766 465 617

SP Angel Corporate Finance (Nomad and Joint Broker)

Ewan Leggat/Charlie Bouverat

+44 (0) 20 3470 0470

SI Capital Limited (Joint Broker)

Nick Emerson                                                                                                           

+44 (0) 1483 413 500

First Equity Limited (Joint Broker)

David Cockbill/Jason Robertson

+44 (0) 20 7330 1883

Blencowe Resources #BRES – Director Dealings

Director/PDMR Share Purchase

Blencowe Resources Plc (“Blencowe” or “The Company”) (LSE: BRES) is pleased to announce that the Chairman, Cameron Pearce and the CEO Mike Ralston have purchased 100,000 ordinary shares each in the Company (“Ordinary Shares”) on market at a price of 6.45 pence per Ordinary Share.

Following this share purchase, Mr Pearce holds 7,016,667 Ordinary Shares (5.9% of the enlarged share capital) and Mike Ralston has a shareholding of 2,725,000 Ordinary Shares (2.3% of the enlarged share capital).

Further details are set out in the PDMR forms below.

For further information please contact:

Blencowe Resources Plc

Sam Quinn

Tel: +44(0) 1624 681 250

www.blencoweresourcesplc.com

info@blencoweresourcesplc.com

Investor Enquiries

Sasha Sethi

Tel: +44 (0) 7891 677 441

sasha@flowcomms.com

Brandon Hill Capital Limited

Jonathan Evans

Tel: +44 (0)20 3463 5000 jonathan.evans@brandonhillcapital.com

First Equity Limited

Jason Robertson

Tel: +44 (0)20 7330 1883

jasonrobertson@firstequitylimited.com

The Notification of Dealing Form provided in accordance with the requirements of the Market Abuse Regulation in relation to the transaction listed above is set out below.

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Mike Ralston ATF the Ralston Family Trust

 

2

 

Reason for the notification

a)

 

Position/status

 

Chief Executive Officer

b)

 

Initial notification /Amendment

 

Intial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

Blencowe Resources PLC

b)

 

LEI

 

213800UX1HBIRK36GG11

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

a)

 

Description of the financial instrument, type of instrument

Ordinary shares

Identification code

GB00BFCMVS34

b)

 

Nature of the transaction

 

Share Purchase

c)

 

Price(s) and volume(s)

Price(s)

Volume(s)

6.45 pence

100,000

d)

 

Aggregated information

– Aggregated volume

100,000

– Price

£6,450

e)

 

Date of the transaction

 

29 April 2021

f)

 

Place of the transaction

 

Outside a Trading Venue

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Cameron Pearce

 

2

 

Reason for the notification

a)

 

Position/status

 

Chairman

b)

 

Initial notification /Amendment

 

Intial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

Blencowe Resources PLC

b)

 

LEI

 

213800UX1HBIRK36GG11

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

a)

 

Description of the financial instrument, type of instrument

Ordinary shares

Identification code

GB00BFCMVS34

b)

 

Nature of the transaction

 

Share Purchase

c)

 

Price(s) and volume(s)

Price(s)

Volume(s)

6.45 pence

100,000

d)

 

Aggregated information

– Aggregated volume

100,000

– Price

£6,450

e)

 

Date of the transaction

 

29 April 2021

f)

 

Place of the transaction

 

Outside a Trading Venue

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

Open Orphan PLC #ORPH – Result of General Meeting

Result of General Meeting

Open Orphan plc (AIM: ORPH), a rapidly growing specialist pharmaceutical services clinical research organisation (CRO) and a world leader in vaccine and antiviral testing using human challenge clinical trials , announces that all resolutions proposed at the General Meeting held earlier today were duly passed.

Further announcements regarding the proposed Distribution in Specie will be made in due course.

For further information, please contact:

Open Orphan plc

www.openorphan.com

Cathal Friel, Executive Chairman

+353 (0) 1 644 0007 

Arden Partners plc (Nominated Adviser and Joint Broker)

  +44 (0) 20 7614 5900

John Llewellyn-Lloyd / Benjamin Cryer / Nick Wright

finnCap plc (Joint Broker)

+44 (0) 20 7220 0500

Geoff Nash / James Thompson/ Richard Chambers

Davy (Euronext Growth Adviser and Joint Broker)

+353 (0) 1 679 6363

Anthony Farrell

Walbrook PR (Financial PR & IR)

+44 (0)20 7933 8780 or openorphan@walbrookpr.com

Paul McManus / Sam Allen /

Lianne Cawthorne

+44 (0)7980 541 893 / +44 (0)7748 651 727 /

+44 (0)7584 391 303

Kavango Resources #KAV raises £75,000 from warrant exercises

Exercise of Warrants

Kavango announces it has received notices to exercise warrants over 7,500,000 new ordinary shares of £0.001 each in the Company (the “Warrant Shares”).

The Warrant Shares are being issued pursuant to the exercise of warrants granted and announced on 15 April 2020.  Subscription monies of £75,000 have been received by Kavango in respect of these exercises.

Admission and Total Voting Rights

Application will be made for the Warrant Shares to be admitted to the Standard List segment of the Official List and to trading on the main market of the London Stock Exchange plc (“Admission”).  It is expected that Admission will become effective and that dealings in the Warrant Shares will commence at 8.00am on or around 26 January 2021.

Following Admission, the total issued share capital of the Company will consist of 302,791,264 Ordinary Shares. Therefore, the total number of voting rights in the Company is 302,791,264 and this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest, in the share capital of the Company. 

Further information in respect of the Company and its business interests is provided on the Company’s website at   www.kavangoresources.com   and on Twitter at #KAV.

For further information please contact:

Kavango Resources plc

Michael Foster

mfoster@kavangoresources.com

First Equity (Joint Broker)

+44 207 374 2212

Jason Robertson 

SI Capital Limited (Joint Broker)

+44 1483 413500

Nick Emerson

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

Twitter:
 #KAV @KavangoRes Warrant Exercise:
 
~ Warrants exercised over 7,500,000 new ordinary shares
 
~ £75,000 monies received
 
~ 302,791,264 shares now in issue
#nickel #copper #basemetals
 
Kavango Resources #KAV raises £75,000 from warrant exercises (branduk.net
LinkedIn/Twitter/Facebook: 

 #KAV @KavangoRes Warrant Exercise:

~ Warrants exercised over 7,500,000 new ordinary shares

~ £75,000 monies received

~ 302,791,264 shares now in issue

 

#nickel #copper #basemetals #mining #naturalresources

Vox Markets: 
#KAV @KavangoRes Warrant Exercise:
~ Warrants exercised over 7,500,000 new ordinary shares
~ £75,000 monies received
~ 302,791,264 shares now in issue

Open Orphan PLC #ORPH – Venn Life Sciences contract wins

Open Orphan plc (ORPH), a rapidly growing specialist CRO pharmaceutical services company which is the world leader in the testing of vaccines and antivirals using human challenge clinical trials is pleased to announce its subsidiary Venn Life Sciences (“Venn”) has been awarded two new contracts.

The first contract, which will commence immediately, is a COVID-19 study for a European pharmaceutical company which involves 200 patients in 50 sites across 5 countries around the world. Venn’s Paris team will manage the randomisation and supply management for this randomised, double-blind, placebo-controlled Phase 2 Clinical Trial to evaluate the safety and efficacy of a combination treatment of two drugs, and the best supportive care for patients with moderate and severe COVID-19 in a hospitalised setting.

Venn’s team based in the Breda office, in the Netherlands has also signed a contract with a European pharmaceutical company. The contract will see Venn assist with project management, design and implementation of new processes related to clinical development and use its expertise to deliver process improvement. The contract, which starts immediately, will run until December 2021 delivering significant revenues for Venn.

This contract builds on Venn’s existing relationship with this European pharmaceutical company whom Venn currently provides a variety of services to including IMPD writing, regulatory briefing book writing, preclinical and clinical consultancy.

Cathal Friel, Executive Chairman, Open Orphan, said:

“As we come towards the end of 2020, it’s wonderful to see all the elements of the Open Orphan business are delivering substantial revenues and both new contract wins and renewal of existing long-term customer contracts. The merger and integration of Open Orphan, Venn and hVIVO is very much now complete, and having become profitable in Q4 2020, we now have a very valuable, fast growing and secure business on our hands. Both Venn and hVIVO are converting their substantial pipeline of work whilst providing a high-quality service to their customers. The Paris team’s contract is a further demonstration of our work in the fight against COVID-19 and the contract win by our Dutch Breda team shows how we continue to generate repeat business through our expertise.

I am very excited by the momentum in the business and look forward to providing further updates in the weeks and months ahead of what is going to be a very exciting 2021″.

 

ENDS

Interested in becoming a volunteer?

If you are interested in being contacted and provided with details about future COVID-19 human challenge study research, please leave your contact details at  www.UKCovidChallenge.com .

hVIVO recruits many of its volunteers for its challenge study clinical trials through its dedicated volunteer recruitment website, www.flucamp.com. hVIVO welcomes volunteers to take part in our clinical trials under expertly supervised conditions, to further medical research, and help us to take the understanding of respiratory illnesses to a new level. Volunteers are central to the work that we do; our studies focus on testing new treatments on real people, in a safe, controlled, clinical environment.

 Further details on all aspects of our volunteer programs including testimonials from previous volunteers can be found at www.flucamp.com.

For further information please contact

Open Orphan plc

+353 (0)1 644 0007

Cathal Friel, Executive Chairman

Arden Partners plc (Nominated Adviser and Joint Broker)

+44 (0)20 7614 5900

John Llewellyn-Lloyd / Benjamin Cryer / Dan Gee-Summons

finnCap plc (Joint Broker)

+44 (0) 20 7220 500

Geoff Nash / James Thompson/ Richard Chambers

Davy (Euronext Growth Adviser and Joint Broker)

+353 (0)1 679 6363

Anthony Farrell

Camarco (Financial PR)

+44 (0)20 3757 4980

Tom Huddart / Hugo Liddy

 

LinkedIn/Facebook:

#ORPH @OpenOrphanplc subsidiary @VennLifeSciences contract wins

~ The first contract is a #COVID19 Phase 2 Clinical trial involving 200 patients in 50 sites across 5 countries.

~ The second contract will see #Venn assist a project related to clinical development, delivering significant revenues and running until Dec 2021.

~ Cathal Friel “I am very excited by the momentum in the business and look forward to providing further updates”

#pharma #testing #placebo

Open Orphan PLC #ORPH – Venn Life Sciences contract wins (branduk.net)

Twitter:

#ORPH @OpenOrphan @VennLifeScience contract wins:
 
~ #COVID19 Phase 2 #Clinicaltrial involving 200 patients
 
~ #Venn to assist clinical development project, delivering significant revenue
 
#lifesciences
 
Open Orphan PLC #ORPH – Venn Life Sciences contract wins (branduk.net)
Vox:
#ORPH Open Orphan plc subsidiary Venn Life Science contract wins:
~ COVID19 Phase 2 Clinical trial involving 200 patients
~ Venn to assist clinical development project, delivering significant revenue
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