Open Orphan #ORPH – Notice of results

 

Open Orphan plc (AIM: ORPH), a rapidly growing specialist contract research organisation (CRO) and world leader in testing infectious and respiratory disease products using human challenge clinical trials , announces that it will release its full year results for the year ended 31 December 2021 on Tuesday 7 June 2022. 

Investor Presentation 

Yamin ‘Mo’ Khan, Chief Executive Officer, and Leo Toole, Chief Financial Officer, will be hosting a live online presentation relating to the final results via the Investor Meet Company platform at 6pm on Tuesday 7 June 2022. The presentation is open to all existing and potential shareholders.

Investors can sign up to Investor Meet Company for free and register for the presentation here.

Investors who already follow Open Orphan on the Investor Meet Company platform will automatically be invited.

Questions can be submitted pre-event via your IMC dashboard or in real time during the presentation, via the “Ask a Question” function. Whilst the Company may not be in a position to answer every question it receives, it will address the most prominent within the confines of information already disclosed to the market through regulatory notifications. A recording of the presentation and a PDF of the slides used will be available on the Investor Meet Company platform and the Company’s website afterwards.

 

Power Metal Resources – Victorian Gold Fields – Grant of Key Licences

 

Power Metal Resources PLC (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces an update in relation to its joint-venture subsidiary New Ballarat Gold Corporation plc (“NBGC”), which is focused in the prolific Victorian Goldfields of Australia.

NBGC is a joint-venture held between Power Metal (49.9%) and its partner, London-listed Red Rock Resources plc (50.1%).  NBGC has a 100% interest in Red Rock Australasia Pty Ltd (“RRAL”).

Highlights:

· Three further exploration licences, EL007330 (202km2), EL007294 (325km2) and EL007507 (9km2), have now been granted, bringing NBGC’s combined footprint in the Victoria Goldfields to 1,832km2.

· New license grants include EL007330 located northeast of Ballarat, Australia. Significantly, this newly granted licence covers the historical Ajax gold mine which historically produced 312,789oz gold at an average grade of 14.8g/t Au in the 1920s.1

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

“The grant of EL007330 is a considerable step forward bringing the historical Ajax gold mine into the RRAL portfolio. This mine produced 312,789 ounces of gold at an average grade of nearly half an ounce per tonne.

Whilst the RRAL land footprint is considerable, with over 1,800k m2of now granted exploration licences, without question the grant of EL007330 including Ajax is highly significant.

In our view the RRAL business holds great potential, however, what is important is what we do to maximise that value through further exploration and corporate activities.

I expect it will be an interesting few months ahead for this project package within the Power Metal business.” 

Highlights: EL007330 – Including Ajax Mine:

The historical Ajax gold mine comprises numerous shafts and workings found over several kilometres of combined strike length, which was historically mined to a vertical depth of approximately 400m. The down dip and along strike extensions of the main ore zones remain virtually untested by drilling.  A small drilling programme completed in the 1990s by Continent Resources intersected multiple lode structures with highlight results up to 15.24g/t Au over 5.2m from 120.9m downhole – demonstrating the continuity of mineralised lode structure and associated high gold grades.  The main mine shaft itself has since been backfilled and is currently not accessible.

A more detailed description of the historical Ajax gold mine is contained in the paper previously published on RRAL’s website with the file name: ‘Licence Report: EL007330 – Daylesford (Blue Angel)’ found below at:

https://www.rrrplc.com/projects-and-investments/gold/red-rock-australasia/

Work is currently under way to digitise the old mine workings into a 3D computer model in advance of a planned diamond drilling campaign which is expected to commence in late 2022 -targeting the along strike and down dip extensions of the Ajax mine’s main ore zones.

New Ballarat Gold Corporation:

NBGC holds a strong land position comprising fourteen (14) granted exploration licences for a total of 1,832km2, located entirely within the prolific gold fields of Victoria, Australia – principally surrounding the mining centre of Ballarat, Australia. Five (5) licences for a total of 493km2 are still in the application stage.

The company has carefully assembled its property portfolio to comprise a broad range from robust exploration targets to near term resource potential – all of which remain largely untested by modern explorers. 

With the first tenement within the portfolio granted only in 2021, NBGC has already conducted detailed exploration on multiple targets to date. This includes diamond drill programmes designed to test the O’Loughlin’s (520m) and Mt. Bute (340m) prospects, which commenced December 2021. The final results from these drill programmes are still pending.

 

Technology Minerals #TM1 – Recyclus awarded Lithium-ion EA Permit at Wolverhampton plant

Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, is pleased to announce that the Environment Agency (“EA”) has awarded its 49% owned battery recycling business, Recyclus Group Ltd (“Recyclus”), an environmental permit for its recycling plant in Wolverhampton, West Midlands. 

The EA permit at its Wolverhampton plant will provide the critical legal foundation from which Recyclus can receive the variation of licence required to enable the Wolverhampton site to be fully operational. This variation of licence is required due to the novelty of recycling lithium-ion batteries within the UK.   

Further, the EA has prioritised the determination of Recyclus’ application to transfer its permits across its lithium-ion Wolverhampton plant and lead-acid Tipton plant. This priority status has been given to Recyclus as the EA is satisfied that the development of the company will help maintain national resilience, national infrastructure and/or is critical for environmental protection. 

Once the site is fully operational, the Wolverhampton plant will be the first in the UK with the capacity to recycle lithium-ion batteries on an industrial scale and will be a key foundation of Recyclus’ ambition to increase its lithium-ion battery recycling capacity from an estimated 8,300 tonnes in the first full year of operations, to circa 41,500 tonnes by 2027. 

This is the second EA permit Recyclus has been awarded in two weeks following the environmental permit obtained for its Tipton recycling facility earlier this month. 

Robin Brundle, Chairman of Technology Minerals, said: “Receiving the EA permit for our Wolverhampton plant is a critical step for the recycling facility to become fully operational which, for the first time, will bring industrial scale recycling capability for lithium-ion batteries in the UK. To be awarded priority status and be categorised as an organisation critical for environmental protection is fantastic. This high-level of recognition from the EA is reflective of the importance of Recyclus’ ambition to recycle batteries and establish a circular economy for battery metals in the UK. With the increasing demand for critical battery metals, we are pleased to be seen as integral to ensuring a domestic supply through recycling.”

Enquiries

Technology Minerals Plc

Robin Brundle, Executive Chairman

Alexander Stanbury, Chief Executive Officer

+44 20 7618 9100

Arden Partners Plc

Ruari McGirr, George Morgan

+44 207 614 5900

Luther Pendragon

Harry Chathli, Alexis Gore, John Bick

+44 20 7618 9100

Technology Minerals Plc   

Technology Minerals is developing the UK’s first listed, sustainable circular economy for battery metals, using cutting-edge technology to recycle, recover, and re-use battery technologies for a renewable energy future. Technology Minerals is focused on extracting raw materials required for Li-ion batteries, whilst solving the ecological issue of spent Li-ion batteries, by recycling them for re-use by battery manufacturers. With the increasing global demand for battery metals to supply electrification, the group will explore, mine, and recycle metals from spent batteries. Further information on Technology Minerals is available at www.technologyminerals.co.uk    

Recyclus Group Ltd   

The demand for the raw materials used in battery manufacturing is anticipated to substantially increase. Recyclus Group provides a national recycling initiative that supports the transition to carbon neutrality. Recyclus Group’s battery recycling capacity will prove essential in the shift from fossil fuels to electric transportation. Through its strategic support, Recyclus is an integral component to the recycling of lithium-ion and lead-acid batteries and is a significant contributor towards the circular economy of battery metals. Further information on Recyclus Group is available at www.recyclusgroup.com    

#POLB Poolbeg Pharma – TR-1: Notification of major interest in shares

POLB

TR-1: S tandard form for notification of major holdings

 

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) i

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached ii :

Poolbeg Pharma PLC

1b. Please indicate if the issuer is a non-UK issuer   (please mark with an “X” if appropriate)

Non-UK issuer

2. Reason for the notification (please mark the appropriate box or boxes with an “X”)

An acquisition or disposal of voting rights

X

An acquisition or disposal of financial instruments

An event changing the breakdown of voting rights

Other (please specify)iii:

3. Details of person subject to the notification obligation iv

Name

Schroders PLC

City and country of registered office (if applicable)

London , United Kingdom

4. Full name of shareholder(s) (if different from 3.) v

Name

City and country of registered office (if applicable)

5. Date on which the threshold was crossed or reached vi :

18/05/2022

6. Date on which issuer notified (DD/MM/YYYY):

19/05/2022

7. Total positions of person(s) subject to the notification obligation

% of voting rights attached to shares (total of 8. A)

% of voting rights through financial instruments
(total of 8.B 1 + 8.B 2)

Total of both in % (8.A + 8.B)

Total number of voting rights held in issuer vii

Resulting situation on the date on which threshold was crossed or reached

5.128388%

5.128388%

25,641,941.00

Position of previous notification (if

applicable)

Below Reportable Threshold

Below Reportable Threshold

 



 

 

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached viii

A: Voting rights attached to shares

Class/type of
shares

ISIN code (if possible)

Number of voting rights ix

% of voting rights

Direct

(DTR5.1)

Indirect

(DTR5.2.1)

Direct

(DTR5.1)

Indirect

(DTR5.2.1)

GB00BKPG7Z60

25,641,941.00

5.128388%

SUBTOTAL 8. A

25,641,941.00

5.128388%

B 1: Financial Instruments according to DTR5.3.1R (1) (a)

Type of financial instrument

Expiration
date
 x

Exercise/
Conversion Period
 xi

Number of voting rights that may be acquired if the instrument is

exercised/converted.

% of voting rights

SUBTOTAL 8. B 1

B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)

Type of financial instrument

Expiration
date
 x

Exercise/
Conversion Period
 xi

Physical or cash

settlement xii

Number of voting rights

% of voting rights

 

SUBTOTAL 8.B.2



9. Information in relation to the person subject to the notification obligation (please mark the

applicable box with an “X”)

Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer xiii

Full chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held starting with the ultimate controlling natural person or legal entity
 xiv (please add additional rows as necessary)

X

Name xv

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

Schroders PLC

Schroder Administration Limited

Schroder Wealth Holdings Limited

Schroder & Co. Limited

Schroders PLC

Schroder Administration Limited

Schroder International Holdings Limited

Schroder Investment Management Limited

 

10. In case of proxy voting, please identify:

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held

11. Additional information xvi

Place of completion

London

Date of completion

19/05/2022

Quoted Micro 23 May 2022

AQUIS STOCK EXCHANGE

Nigeria-focused oil company Lekoil Ltd (LEK) made the switch from AIM to Aquis on 18 May. Trading in the shares will remain suspended until audited accounts are published. Lekoil is in dispute with Lekoil Nigeria, where it has a major interest, and former chief executive Mr Olaekan Akinyanmi, who is being funded by Lekoil Nigeria. The board wanted shareholders to have a trading facility, while the litigation is being pursued. The main source of assets will be the recovery of intercompany debts and there is likely to be little value in the oil and gas operations.

Valereum (VLRM) is still going through the regulatory process to acquire 90% of the Gibraltar Stock Exchange. There is a government review of the Gibraltar financial services community.

Quantum Exponential (QBIT) is investing £450,000 in Brighton-based Universal Quantum Ltd, which is trying to build the first million quantum bit quantum computers. The cash will help to develop the processing unit. The investment is via an advanced subscription agreement, and this will be converted into shares after one year or if there is a fundraising of at least £10m.

Hemp and CBD wellness products company Yooma Wellness Inc (YOOM) generated revenues of $10.2m in 2021, while the loss was $35.7m, including $22.5m of asset write-downs and £1m of listing costs. The company’s products are being rolled out in additional high street and online stores. The US operations are being rationalised and the focus moved to other markets.

SuperSeed Capital Ltd (WWW) made two investments in the first quarter of 2022. Investors in the company’s fund during January have already made a 43% gain. There was seed capital provided to the two investments. Ai Build is a software developer for 3D printing additive manufacturing, which will enable the 3D printing of larger objects. ThingTrax is developing technology that will help manufacturers to monitor and automate production.

RentGuarantor Holdings (RGG) has obtained a non-exclusive to use the Propertymark trademark in the UK. Propertymark has 18,000 of property letting and sales businesses. Propertymark will promote RentGuarantor rent guarantees for tenants.

Major shareholder Neo London Capital is providing a lending facility to Black Sea Property (BSP) to finance the exploration of property development opportunities.

Wishbone Gold (WSBN) has completed the survey of additional targets at the Red Setter project in Australia. The first phase of drilling at Red Setter is 3,000 meters.

Ace Liberty and Stone (ALSP) has sold a flat in Chelsea for £2.185m, which is above the book value of £2.1m.

Oscillate (MUSH) has a stake in Psych Capital, which is joining Aquis on 25 May.

The incoming finance director Robert Smith has bought 500,000 Chapel Down (CDGP) at 42.5p each.

AIM

Fishing tackle retailer Angling Direct (ANG) managed to beat previously upgraded forecasts for the year to January 2022. Revenues increased from £67.6m to £72.5m even though online sales fell. UK online sales increased but European online sales because of difficulties with prompt delivery. The new Netherlands distribution centre will help. There was £16.6m in cash at the end of January 2022. Pre-tax profit jumped from £2.7m to £4m, but this is not expected to be maintained. Singer forecasts a pre-tax profit of £2.8m on revenues of £82m in 2022-23.

Compliance and energy saving services provider Sureserve (SUR) continues to grow and it is set to supplement this growth with acquisitions in the energy efficiency and renewables sectors. Interim revenues from continuing operations increased by 24% to £126.2m, while pre-tax profit was one-third higher at £4.3m. The non-core fire and lift businesses are profitable, and they made a slightly higher pre-tax profit of £1.24m on revenues of £17.3m, which is not included under continuing operations. Those non-core businesses have net assets of £13.1m. Assuming Sureserve receives a similar amount when they are sold this would boost the cash position. There was £8.86m in the bank at the end of March 2022.

Designer and supplier of automotive interior components CT Automotive (CTA) reported its maiden full year results as an AIM company. There was a strong recovery in the first half, but component shortages have reduced the demand from car manufacturers in the second half. Even so, full year revenues recovered from $109.9m to $132.9m, although the company remained loss making. There is a strong order book, but revenues are still likely to be hit by lack of demand due to component shortages. These problems could last for most of this year with automotive volumes set to recover in 2023. A new factory in Mexico should be open in July.

Vela Technologies (VELA) invested £750,000 in convertible loan notes in EnSilica, which is about to join AIM. This investment should convert into 1.75 million shares, which is a 2.3% stake in the integrated circuits designer and supplier.

Chariot Ltd (CHAR) has raised £20.4m ($25.5m) at 18p a share and more could come via an open offer. This will help Chariot to make progress with the Anchois gas development in Morocco. Some of the cash will go on renewables projects.

Begbies Traynor (BEG) says 2021-22 results will be comfortably ahead of expectations and insolvencies are increasing.

Digital coupons and loyalty technology provider Eagle Eye (EYE) says that the roll out of services to a US retailer has helped 2021-22 EBITDA to potentially be 10% higher than expected.

MAIN MARKET

Standard list shell BSF Enterprise (BSFA) completed the reverse takeover of Newcastle-upon-Tyne-based tissue engineering 3D Bio-Tissues Ltd for £2.5m in shares. There was £1.75m raised in a placing at 7.37p a share, which is the same price at which the 33.9m consideration shares were issued. That valued the company at £6.32m on readmission. The share price ended the week at 9p. There are three main types of technology that are being developed. City-mix is a serum-free media for culturing muscle and fat cells in an animal-free process that can be used to grow meat and leather in a laboratory. There is less variation between batches than for some rivals and it could cost less. Another technology is based on Lipopeptide Etsyl, which helps to increase collagen production in human skin cells, and it can be used dermatological products. This will be sold as an ingredient to skincare product manufacturers. The third technology is tissue templating. This includes the original substitute cornea technology, as well as other uses.

In the year to February 2021, Braemar Shipping Services (BMS) expects an underlying operating profit of £9.8m, up from £7.7m. The annual dividend will be two fifths higher at 7p a share. The operating profit expectations for 2022-23 have been upgraded from £10m to £12m.

Macfarlane Group (MACF) is buying German protective packaging distributor PackMann. This is a profitable business, and it will help Macfarlane to expand in northern Europe.

Nanoco (NANO) has received an official decision that its 47 disputed patent claims are valid. This is an important step in the legal proceedings against Samsung, which used its quantum dot technology without agreement. There is still some way to go, but a settlement could generate more than £100m for Nanoco, even after the litigation funder gets its payment.

Net Zero Infrastructure (NZI) is in talks to acquire specialist equipment hire company Taylor Construction Plant and Solar Highways. Trading in the shares has been suspended.

Andrew Hore

Research Talks Special Live from the UK Investor Show in London

In a research talks special streamed from the The UK Investor Show Alan Green and Mark Fairbairn discuss MetalNRG Plc #MNRG Kavango Resources PLC #KAV Technology Minerals #TM1 and the sum of the parts valuation case for Power Metal Resources #POW

#research #gold #copper #nickel #investor #RareEarth #circulareconomy #batteryrecycling #BatteryMetals #mining #exploration #mineralexploration Rolf A Gerritsen Ben Turney Brett Grist Robin Brundle Alex Stanbury Emily Steward Harry Chathli John Bick Paul Johnson Tristan Pottas Oliver Friesen

#POW Power Metal Resources – First Development Resources – Selta Project Update

Power Metal Resources plc (LON:POW),  the London listed exploration company seeking large-scale metal discoveries across its global project portfolio, provides an update to shareholders in respect of the Selta Project (“Selta” or the “Project”).

Selta is 100% owned by Power Metal’s 82.78% owned subsidiary First Development Resources Limited (“FDR”).

FDR is planning to list on the London capital markets in Q3 2022 (the “IPO”) and is focussed on district-scale exploration opportunities in Australia.

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

“Some 70km south-east of the Selta Project lies Nolans Bore, a significant rare-earth element deposit held by ASX listed Arafura Resources Limited. We secured the Selta Project with a view, in part, to investigating the rare-earth element potential of Selta and its considerable 1,575km2 licence footprint.

It’s too early to be definitive, though our findings on rare-earth element prospectivity have been encouraging, and today have moved forward considerably.

This is exciting for us as we make plans to demonstrate the potential of Selta through disciplined and intensive exploration. The work we outline below demonstrates the importance of extremely valuable desktop work where, for very little cost, creative explorers can often access the findings of work undertaken and funded by others historically.” 

Tristan Pottas Chief Executive Officer of First Development Resources Ltd commented:

“Our work has identified compositionally similar granites over both the Nolan’s Bore deposit and the Selta Project. The stream sediment sample results we have outlined below, and which cover the southern target in the map provided, are extremely high which could mean the granites over Selta are also enriched in rare-earth elements. 

We are continuing to build our information database, and to date the in-country team and our technical advisors in the UK have been doing some incredible work that we believe has added considerable value to the Selta Project.”

 

BACKGROUND

Prospectivity for Uranium and Rare Earth Elements Confirmed Previously

The recently completed in-depth review (the “Review”) of all publicly available geological, geophysical and geochemical data for the Selta Project in Australia’s Northern Territory originally identified four uranium (“U”) and three rare-earth element (“REE”) targets within the Selta Project area, as well as the potential for lithium, gold and base-metal mineralisation.

The 16 March 2022 announcement in respect of this in-depth review may be viewed below through the following link:

https://www.londonstockexchange.com/news-article/POW/selta-project-multiple-target-areas-identified/15371081

New and Refined Prospectivity for REE’s Through Follow-on Work

Further desktop work has since been completed and an additional data set has been identified which has enabled FDR to: 1) delineate an additional REE target; 2) materially increase the prospectivity of the original three REE target areas; and 3) further refine the location and shape of the original three REE target areas at Selta.

The targets delineated are shown in the map linked below on the Company’s website:

 https://www.powermetalresources.com/fdr-crossland-data/

 

NEW HIGHLIGHTS

· Historical stream sediment sample results within the Selta Project area collected by Crossland Uranium1 between 2014-2016 has enabled FDR’s geology team to delineate an additional REE target area at Selta – resulting in four prime target areas for REEs that materially boost the overall exploration potential.

· The Crossland data set includes several high-magnitude REE-in-steam results from all target areas, which has not only increased the overall prospectivity of the four targets but allowed FDR to further refine the shape and location of said targets.

· The Crossland data set combined with the previously completed Selta desktop review will enable a focussed approach to the next phase of exploration which will comprise a site visit to reconcile observations with historical data and identify preliminary targets for further investigation.

CROSSLAND URANIUM STREAM SEDIMENT DATA

Overall, the FDR geology team analysed two separate datasets of Crossland stream sediment samples which included 103 stream sediment samples in total within the Selta Project which were analysed for 15 (out of 17) REEs including:  cerium (Ce), dysprosium (Dy), erbium (Er), europium (EU), gadolinium (Gd), holmium (Ho), lanthanum (La), lutetium (Lu), neodymium (Nd), praseodymium (Pr), samarium (Sm). terbium (Tb), thulium (Tm), yttrium (Y) and ytterbium (Yb). Sample analysis was completed by Genalysis Laboratory Services. The total of these 15 rare-earth element assays combined is referred to as the Total Rare-Earth Element (“TREE”). The results are summarised below:

Twelve samples were found to be highly anomalous (> 3800 ppm TREE – >90th percentile) for TREEs, of which eight samples were found to be extremely anomalous for TREEs (>7,000 ppm). Of the twelve highly anomalous samples, seven were also found to be anomalous for neodymium (>2217 ppm Nd) and  praseodymium (>557 ppm Pr). These results illustrate significant local elevations of critical REEs.

Other elements of note that returned anomalous results include:

· 5 samples had anomalous Zirconium >7,440 ppm with a peak result in one sample of 20,892 ppm .

· 8 samples had anomalous Thorium >1,215 ppm with a peak result in one sample of 3,213 ppm.

· 9 samples had anomalous Uranium >118 ppm with a peak result in one sample of 136 ppm.

· 6 samples had anomalous Tungsten >62 ppm with a peak result in one sample of 189 ppm.

· 4 samples had anomalous Phosphorus (> 1,100 ppm), up to 6,500 ppm in one sample.

Note: Lithium was not assayed for in the stream sediment samples .

These results, combined with the high TREE values listed above – including one sample of up to 16,743 ppm (1.6% TREE) – are suggestive of potentially strong bedrock REE mineralisation upstream of the sample sites.

 

SELTA PROJECT- PROXIMAL TO WORLD-CLASS REE DEPOSIT

The Selta Project borders Prodigy Gold NL (ASX:PRX), IGO Ltd (ASX: IGO) and Canadian listed Megawatt Lithium and Battery Metals Corp (CSE: MEGA); and is approximately 70 km northwest of Arafura Resources Limited (ASX: ARU) (“Arafura Resources”) high-grade, world-class Nolans Bore REE deposit.

The Nolans Bore REE-phosphate-uranium-thorium deposit is one of the largest of its kind globally with a JORC (2012) compliant Mineral Resource of 56 million tonnes at an average grade of 2.6% total rare-earth oxides and 11% phosphate (P2O5).2

Commercial production at the Nolans Bore REE deposit is targeted for late 2024, with the Feasibility Study considering a 4,440 tonne per annum Nd-Pr oxide producing open pit mining operation with a 38 year mine-life and an NPV8% of US$1.011B.3

Arafura Resources was recently awarded a grant for up to AU$30 million to contribute to the construction of their rare earths separation facility which is expected to cost in the region of AU$90.8 million. The grant was allocated from the Federal Government’s AU$1.3 billion Modern Manufacturing Initiative which has been established with the aim of developing Australia as a regional resources technology and critical minerals processing hub within 10 years.4

Arafura Resources recently announced it has signed a non-binding memorandum of understanding (MoU) with one of the world’s most progressive automotive groups, South-Korean based Hyundai Motor Company. The MoU provides a framework for the parties to negotiate a binding offtake agreement for the supply of up to approximately 1,000 – 1,500 tonnes per annum of Nd-Pr Oxide from the Nolans Project to commence in 2025 for a seven year term on a cost, insurance and freight basis.5

The underlying geology within the Selta Project is interpreted by FDR’s geological team to be comparable to the Nolans Bore deposit. Notably, REE and uranium mineralisation at Nolan’s Bore is hosted within G6 granites which are postulated to be compositionally similar to the G5 granite prevalent across the Selta Project. Furthermore, preliminary statistical analysis was carried out on the Crossland stream samples, and a strong statistical correlation was noted between REEs, uranium, thorium and phosphorous within the dataset. This relationship suggests pegmatite hosted REE mineralisation may be the source of the stream sediment anomalies. 

 

FDR EXPLORATION INTERESTS

FDR Australia holds the following exploration licence interests:

Wallal Project  (Wallal Main-E45/5816 –  390km 2  – granted), (Wallal West 1-E45/5853 96km 2  – granted) and (Wallal West 2 – E45/5880 – 86km 2  – granted).

A comprehensive geophysical review has identified three magnetic bullseye anomalies located under Phanerozoic sedimentary cover which are interpreted to have possible geological similarities major Au-Cu deposits within the Paterson Province including Winu (Rio Tinto) and Havieron (Newcrest Mining-Greatland Gold joint venture).

Braeside West Project  (E45/5854 –  137km 2  – one granted licence)

In-depth desktop analysis of historic exploration data is currently underway on the Braeside West Project. A recent base-metal discovery by neighbouring company Rumble Resources Ltd (ASX:RTR) has enhanced the overall prospectively within the Braeside West Project area as it is hosted within a similar geological environment to that of Rumble Resources discovery.

Ripon Hills Project  (E45/5088 –  42km 2  – one granted licence).

The Ripon Hills Project is prospective for base-metal and gold mineralisation associated with deep-seated north-south oriented fault structures which run through the Ripon Hills Project area. In-depth desktop analysis of historic exploration data is currently underway over the project.

Selta Project (EL 32737, EL 32738, EL 32755 – 1,575km2-three granted licences)

The Selta Project is located in an area considered to be highly-prospective for uranium and rare earth element mineralisation. FDR recently completed an in-depth review of all geological, geophysical and geochemical data which also identified the potential for lithium, gold and base-metal mineralisation as well as the possibility of tin-tantalum-tungsten rich pegmatites.

The data disclosed in this announcement is derived from historical reports and historical sampling results. FDR has not undertaken any independent investigation of the sampling nor has it independently analysed the results of the historical exploration work in order to verify the results. FDR considers these historical sample results relevant as it will use this data as a guide to plan future exploration programmes. FRD’s future exploration work will include verification of the data through further analysis.

 

REFERENCES

1)  Crossland Nickel Pty Ltd – Report Number CR2016-0105. Available at: https://geoscience.nt.gov.au/gemis/ntgsjspui/simple-search?location=1%2F3&query=%22CR2016-0105%22&rpp=10&sort_by=score&order=desc

2)  Mineral Resources for the Nolans Bore Deposit as of June 2017 using a 1% TREO cut-off grade. Available at: Arafura – Nolans (arultd.com)

3)  Arafura Resources Limited 2015 & 2017 Annual Reports. Available at:

https://www.arultd.com/investor/asx-announcements-2021/asx-archive.html

4)  Arafura Resources Awarded AU$30M in new initiative funding. Available at: Arafura Resources Awarded A$30M In New Initiative Funding (theassay.com)

5)  Arafura Resources Limited ASX Announcement available at: Arafura and Hyundai motor Company sign non-binding MOU for neodymium and praseodymium offtake (asx.com.au)

 

GLOSSARY

Stream Sediment Sample – a sample collected from concentrated material within the bed of a stream, a widely used technique in early stage exploration.

Total Rare Earth Element (TREE) – The abundance of the fifteen lanthanides (Lanthanum, Cerium, Praseodymium, Neodymium, Promethium, Samarium, Europium, Gadolinium, Terbium, Dysprosium, Holmium, Erbium, Thulium, Ytterbium, Lutetium) plus Scandium and Yttrium. These elements are vital components for modern electronical and battery technology.

 

IPO AND LISTING PROCESS

FDR is seeking a listing on the London capital markets and is working with advisors in this regard and is targeting a listing on the London capital markets in Q3 2022.

 

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

#POW Power Metal Resources – Company Option Pool Expansion

Power Metal Resources PLC (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio   announces an expansion to the Company’s Option Pool for key team members.

Previously, on 4 June 2021 Power Metal established a Company Option Pool, creating a 25m share pool for key team members who contribute to the growth and development of the Company.  A link to this announcement is provided below:

https://www.londonstockexchange.com/news-article/POW/company-option-pool-proposed-ned-option-award/15005369

Reflecting the expansion of the Power Metal team the Company Option Pool has today been expanded by 15m options to 40m options in total.

The terms of the new options are the same as those created in June 2021 comprising 15 million new options (the “New Pool Options”) to acquire new ordinary shares of 0.1p each in the Company (“Ordinary Shares”) at an exercise price of 3.25p per share. 

The New Pool Options:

–    have a life to expiry ending 4 June 2024

–      are subject to a share price performance condition and cannot be exercised until the volume weighted average share price (“VWAP”) of the Company has exceeded 5.0p per Ordinary Share for ten consecutive trading days

–  all recipients will be subject to performance criteria with regard to the Pool Options including a minimum 6 months’ service.

To be clear, Power Metal directors will not receive options from this Company Option Pool, which is designed to incentivise other non-board team members.

Where possible the Pool Options will be awarded under the Enterprise Management Incentive scheme.

 

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

 

#TM1 Technology Minerals – Completed Sale of 10% Interest in US Projects

Technology Minerals (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, announces that further to its announcement on 6 May 2022, the Company has completed the sale of an initial 10 per cent interest in the Company’s registered claims in its wholly owned US cobalt/copper projects; the Blackbird Creek Project and Emperium Project (collectively “the Properties”), Lemhi County, Idaho, United States of America, to Bluebird Metals LLC (“the Buyer”) for a cash consideration of £900,000.

 

The sale agreement also includes a proposed option for the Buyer to acquire a further 20 per cent interest in the Properties for a further cash consideration of £1.8m. The option is exercisable within a 6-month period from the date of the signing of the detailed Purchase Agreement regarding the Proposed Sale.

 

Alex Stanbury, Chief Executive Officer of Technology Minerals, said: “We are delighted to complete the sale of a minority interest in our US cobalt/copper assets which is a strong endorsement of the potential of the Blackbird Creek and Emperium Projects. The agreement validates our strategy of advancing our junior mining assets up the value curve to attract partners and unlock significant potential value that can be added to the Company’s portfolio.”

 

Background: Blackbird and Emperium Projects

 

The Blackbird Creek Project is located within the Idaho Cobalt Belt (“ICB”), a 60 km long metallogenic district characterised by stratiform/tabular Co-Cu deposits. The ICB is hosted in the Mesoproterozoic Belt Supergroup (1,470 Ma and 1,370 Ma), juxtaposed between later Proterozoic (1,370 Ma) quartz monzonitic intrusions.

 

The Emperium Project covers approximately 55km² in east-central Idaho, making it one of the largest land positions in the Idaho Cobalt Belt. To date, there has been limited exploration conducted on the property in the form of lithogeochemical (rock) sampling, and satellite image interpretation.

 

Related Party Transaction

The sale and grant of option are deemed to be related party transactions for the purposes of DTR 7.3 as Chang Oh Turkmani, a beneficial owner of the Buyer, is also a Non-Executive Director of Technology Minerals Plc and beneficial owner of 55,555,556 ordinary shares amounting to 4.37% of the issued shares in the Company.

 

The Directors of the Company accept responsibility for this announcement.

 

For further information please contact:

 

Technology Minerals Plc

Robin Brundle, Executive Chairman

Alexander Stanbury, Chief Executive Officer

+44 20 7618 9100

Arden Partners Plc

Ruari McGirr, George Morgan

+44 207 614 5900

Luther Pendragon

Harry Chathli, Alexis Gore, John Bick

+44 20 7618 9100

 

#SVML Sovereign Metals – Five AIM-listed EV & Battery Metals Companies to Watch

 

 

London’s AIM has long been home to world-class junior commodities explorers and producers. As we approach what could be a multi-year commodities super-cycle, London’s junior market is anticipated to provide a hotbed of opportunities to capture any upside in metals prices.

The main driver of any potential commodities super-cycle will likely be the pursuit of Climate Change goals and the demand associated with green technologies. These technologies include renewable power generation, power storage, and electric vehicles, to name a few.

There is a growing disparity between current levels of production and demand forecasts to the extent:

  • Lithium is set for a structural supply deficit for the rest of this decade
  • Copper demand for the production of EVs will hit 2.9mt within a decade
  • Nickel demand for use in EVs will likely outstrip supply within five years
  • Graphite is likely already in a supply deficit with demand only set to increase

In this report, Kemeny Capital highlights five AIM-listed companies exploring for, or producing, battery metals.

Research Note: EV AIM Companies to Watch

I would like to receive Brand Communications updates and news...
Free Stock Updates & News
I agree to have my personal information transfered to MailChimp ( more information )
Join over 3.000 visitors who are receiving our newsletter and learn how to optimize your blog for search engines, find free traffic, and monetize your website.
We hate spam. Your email address will not be sold or shared with anyone else.