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#MSMN Mosman Oil & Gas – Stanley-5 well update
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development, and production company, announces an update on the Stanley-5 well in Polk County, East Texas.
The well is now scheduled to be drilled after the current well at Winters is completed and the rig is relocated the short distance to Stanley-5.
Stanley-5 is a development well targeting the Yegua formation, at approximately 5,000 feet. Following the acquisition of Nadsoilco LLC in July this year, Mosman’s interest in this well will be c36.5%. Mosman will fund its share of the USD 350,000 drilling costs from existing cash resources.
John W Barr, Chairman, said: “Mosman is pleased with the current drilling activity that we had planned for this year to achieve the strategic objective of increasing production.”
Qualified Person’s Statement
The information contained in this announcement has been reviewed and approved by Andy Carroll, Technical Director for Mosman, who has over 35 years of relevant experience in the oil industry. Mr. Carroll is a member of the Society of Petroleum Engineers.
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (‘MAR’) which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service (‘RIS’), this inside is now considered to be in the public domain.
Enquiries:
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Mosman Oil & Gas Limited John W Barr, Executive Chairman Andy Carroll, Technical Director |
NOMAD and Broker SP Angel Corporate Finance LLP Stuart Gledhill / Richard Hail / Adam Cowl +44 (0) 20 3470 0470 |
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Alma PR Justine James / Joe Pederzolli +44 (0) 20 3405 0205 +44 (0) 7525 324431 |
Joint Broker Monecor (London) Ltd trading as ETX Capital Thomas Smith 020 7392 1432 |
#ORPH Open Orphan – Inside the quarantine lab where Irish company infects humans with Covid
Step into the foyer of the Whitechapel Hotel in London and it seems no different from any other business. But venture further in, and it becomes clear that something very strange is going on in this former textile factory.
Biohazard signs on each floor warn observers not to enter. Next to the double beds in the bright and modern en-suite rooms are white trolleys containing swabs, vials, gloves and other medical paraphernalia. Peepholes on the doors are not there so that guests can look out into the corridor.
Instead, they are reversed for safety reasons.
This former hotel, a victim of the Covid pandemic, has been transformed into a 19-bed quarantine facility used to house volunteers taking part in human challenge studies – specialist clinical trials where people are infected with a virus or bacteria to see how they respond to experimental vaccines or treatments.
Link here for the article
Link here for the full Sunday Telegraph article
Quoted Micro 18 October 2021
AQUIS STOCK EXCHANGE
Good Energy (GOOD) has followed the lapsed Ecotricity bid with a nine-month trading statement saying that the renewable energy supplier is on course to meet full year expectations. Good Energy is more than 90% hedged for the next 12 months, so there is limited exposure to the current price volatility. Price rises have been implemented. The 0.75p a share interim dividend is payable on 29 November and the ex-dividend date is 21 October. Finance director Rupert Sanderson has sold 14,800 shares at 335p each, while chief executive Nigel Pocklington bought 7,500 shares at 351.666p each.
Walls and Future REIT (WAFR) is engaging with new investors so that there are buyers for the 10% of the share capital where investors are not long-term holders. This is holding back the share price and causing the high discount to NAV, according to management. The company has completed the design of its autism friendly housing.
CBD products supplier Voyager Life (VOY) generated revenues of £65,000 from incorporation to the end of September 2021. Monthly overheads are less than £50,000. There is £1.8m in the bank. New stores are opening in Edinburgh and Dundee.
Yooma Wellness Inc (YOOM) has acquired CBD products manufacturer N8 Essentials for 1.17 million shares issued at 67.3 cents a share. N8 has a 14,000 square foot manufacturing facility in Kansas. This will enable more group production to be brought in house.
Sativa Wellness (SWEL) has launched an online telemedicine service. This enables patients to follow up tests with a virtual medical consultation.
KR1 (KR1) is participating in the Kintsugi crowdloan and Kusama (KSM) parachain auction. KR1 contributed 5,000 KSM to the crowdloan.
Altona Natural Resources (ANR) has started drilling at the Monte Muambe project in Mozambique. This will improve the understanding of the geological model and test four newly identified targets.
The requisition for a general meeting at British Honey (BHC) has been withdrawn. Richard Day has been reappointed chairman and Mark Gamble as an executive director. Alex Maurice has stepped down from the board but continues to be employed by the company.
Hydro Hotel Eastbourne (HYDP) non-exec director CP Freeman has bought 800 shares at 884p each. David Evans has a 7.61% stake in Oberon Investments (OBE).
The SFO has ended its investigation into people associated with Watchstone Group (WTG) when it was known as Quindell.
AIM
Light Science Technologies (LST) is a contract electronics manufacturer and a developer of controlled environment agriculture technology, which joined AIM on 15 October. The agricultural technology being developed helps farmers to maximise crop productivity and monitor the growing environment. The company’s LED lighting range is called nurturGrow Luminaire and the nurturGROW sensor is being developed. There was £5m raised at 10p a share and the price ended the first day at 11.5p. The cash raised in the flotation will be used to expand facilities and increase marketing.
Floorcoverings manufacturer Victoria (VCP) has achieved record interim earnings. The UK has been a strong market, but Australia has been tougher. The full year outcome is likely to be ahead of expectations. Peel Hunt has upgraded its full year pre-tax profit forecast from £58.3m to £65m.
Branded furnishings and wallcoverings supplier Sanderson Design Group (SDG) improved interim pre-tax profit by 22% to £6m on a 48% increase in revenues. North American and UK sales were strong, and the manufacturing business bounced back. Management plans to generate more income from the archive of past patterns and designs. Net cash is £15.4m. Sanderson is on course to achieve an increase in full year pre-tax profit from £7.1m to £10.9m.
Eqtec (EQT) plans to acquire a 5MW project in Drama, Greece, which will generate energy from forestry waste. Financial close should be achieved for the project in the third quarter of 2022. There is also an additional £2.1m of investment in the North Fork project in California, which increases the stake from 10% to 49%. The 2MW biomass to energy project has been delayed due to fires and Covid. A $4.5m convertible loan facility has been provided to the development.
CyanConnode (CYAN) says interim revenues were £4.1m and it is well on the way to £9.4m of revenues for the full year. The narrowband radio frequency networks company continues to lose money, but cash levels should improve.
Motor dealer Vertu Motors (VTU) recorded record first half results despite supply problems for new vehicles. Used car prices have been rising because of the shortage of new vehicles. In the six months to August 2021, revenues increased from £1.2bn to £1.92bn. Underlying pre-tax profit soared from £4.7m to £51.8m, which is more than treble the first half of 2019-20. Net cash is £57.3m. The interim dividend has been re-established at 0.65p a share. The net tangible asset value is 61.5p a share.
High street sales recovered at fishing tackle retailer Angling Direct (ANG) despite being closed in the first ten weeks of the first half and online sales continued to grow. In the six months to July 2021, revenues improved from £32.1m to £38.4m with high street sales increasing by two-fifths. Online sales were 2% ahead. Pre-tax profit jumped from £1.36m to £3.72m, which includes government lockdown support. Full year pre-tax profit is expected to increase from £2.6m to £3.5m.
Driving safety technology developer Seeing Machines (SEE) has signed a framework agreement with Shell Global Solutions for its Guardian driver distraction and fatigue technology. Deployments should start later this year. Shell has 20,000 vehicles, compared with the total number of 31,771 vehicles using Guardian technology. Seeing Machines has also set up an EU sales team with a headquarters in Amsterdam.
Gresham House Strategic (GHS) has decided to change its investment manager from Gresham House Asset Management to Harwood Capital, where its previous investment manager Richard Staveley moved earlier this year, and Gresham House (GHE) has requisitioned a general meeting in order to have the company’s cash distributed to shareholders and the portfolio of investments liquidated over a 24-month period. Gresham House has a 23.3% stake in Gresham House Strategic and claims the backing of 40% of the share capital. The opposition to the move owns 30% of the company. Harwood intends to invest in the company, and it will generate lower fees, which will save the company £270,000.
Iodine company Iofina (IOF) produced 142.7 MT of crystalline iodine in the third quarter of 2021 and that underpins full year forecasts. Iodine prices continue to rise and recently hit $40/kg.
MAIN MARKET
LED lighting and wiring accessories supplier Luceco (LUCE) has acquired DW Windsor, an exterior lighting business, for £16.9m in cash. In the year to September 2021, operating profit was £1.9m.
Highway Capital (HWC) has finally found a suitable reverse takeover target, although there is no firm agreement. There will be a fundraising alongside the purchase of esports adviser and investor Guinevere Capital Esports & Entertainment. No purchase price has been announced
Oxford Cannabinoid Technologies (OCTP) has acquired medical assets from Canopy Growth Corporation, which provides access to cannabinoid derivatives and will help the company to develop additional drug projects. The lead compound OCT461201, which is a potential neuropathic pain treatment, is progressing towards clinical trials in the third quarter of 2022.
Andrew Hore
#POW Power Metal Resources – New Copper Anomalies Identified – Garfield Nevada
Positive Findings from Satellite Imagery Analysed over Garfield Property; Additional Claims Staked to Cover New Target Areas
Power Metal Resources PLC (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces the results from recently completed satellite imagery analysis over the Garfield Property (“Garfield” or the “Property”) located in the prolific Walker Lane Mineral Belt in Nevada, USA.
HIGHLIGHTS:
– Analysis of Advanced Spaceborne Thermal Emission and Reflection Radiometer (ASTER) and European Space Agency Sentinel-2 datasets has been undertaken by global image processing expert Dr. Neil Pendock from Dirt Exploration based out of Cape Town, South Africa.
– This analysis identified two strong anomalies, prospective for copper mineralisation, as evidenced by detailed mathematical analysis of spectral end members that correlate with known copper mineralistion in the area.
– The new anomalies are located over 1km and 1.5km away from the main Garfield showings, expanding the potential copper mineralisation footprint significantly.
– Additional claims have now been staked to cover the identified anomalies, increasing the claims held at the Property from three to eleven claims.
– The Power Metal technical team is reviewing other strong anomalies near to the newly expanded Property which were identified by the satellite imagery analysis.
A map highlighting the newly acquired ground, as well as the copper anomalies identified by the analysis can be found at the following link:
https://www.powermetalresources.com/garfield-project/
Paul Johnson, Chief Executive Officer of Power Metal Resources plc, commented:
“Power Metal is grateful to Dr Pendock for his work which has led to the identification of prospective copper anomalies at our 100%-owned Garfield Property
This has been achieved by deploying the latest satellite imagery analysis techniques, undertaken at reasonable cost and is a material outcome from initial exploration work.
Given the findings we have intensified our exploration activities at Garfield and look forward to further updating shareholders with the outcomes from this exploration work.”
WORK UNDERTAKEN
Analysis of various datasets including Japanese Aster and European Space Agency Sentinel-2 was undertaken. These datasets offer high spatial resolution visible/near infrared (VNIR), shortwave infrared (SWIR) and longwave infrared (LWIR) imagery.
The analysis was completed by global image processing expert Dr. Neil Pendock from Dirt Exploration based out of Cape Town, South Africa. As a result of the findings, additional staking has now been completed which cover two anomalies identified by the satellite analysis.
The Japanese Aster thermal camera (longwave infrared) allows for remote mapping of mobile metal ions within the earth’s upper unconsolidated bedrock and loose soil (regolith) using the emissitivity properties of minerals within the regolith.
This type of analysis is extremely well suited to Nevada, and specifically within the Walker Lake Mineral Belt (WLMB) due to the lack of vegetative cover over most of southwestern Nevada.
Detailed spectral analysis of approximately 380,000-hectares within the WLBM, cross-referenced with hundreds of known mineral occurrences mapped by the United States Geological Survey, allows for the determination of several spectral end-members which are well correlated with copper deposits within the area.
Specifically, spectral end-members represented by the minerals Serpentine (weathering product of ultramafic mireals) and Jarosite (formed by the oxidation of iron sulfides) were determind to have a strong correlation with known copper deposits within the WLMB. Serepentine is a weathering product of ultramafic minerals, and is a well known mineral associated with skarn-type mineralisation, which the Garfield Property is highly prospective for.
By amalgamating the various spectral endmembers associated with copper deposits in the region, areas highly prospective for copper mineralisation, including skarn-type mineralisation, were mapped across Garfield and within the surrounding areas.
Two strong anomlies (shown as warmer colours on map) were identified over 1km (Anomaly A), and 1.5km away (Anomaly B) from the main Garfield showings. Historic rock sampling proximal to these anomalies returned up to 2.6% Copper, and 5.53% respectively – further proving up the accuracy of the analysis completed. Interestingly, the copper indicators at the newly discovered Anomaly A and B are much stronger than dispalyed at the original Garfield showing, suggesting mineralisation may be stronger and more prospective in these newly acquired areas.
Claims have now been staked to cover these areas identified, and the company is reviewing other strong anomalies near to the newly expanded Property which were identified by the analysis which lie on ground currently open for staking.
OWNERSHIP STRUCTURE – GARFIELD PROPERTY
Power Metal’s wholly owned subsidiary Golden Metal Resources Limited, a UK company (“Golden Metal UK), holds a 100% interest in the Garfield Property through its wholly owned Nevada operating company, Golden Metal Resources LLC.
Golden Metal UK is currently seeking a listing on the London markets.
The acquisition of a 100% interest in the Garfield Property was announced on 17 June 2021, details of which can be found below:
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:
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Power Metal Resources plc |
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Paul Johnson (Chief Executive Officer) |
+44 (0) 7766 465 617 |
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SP Angel Corporate Finance (Nomad and Joint Broker) |
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Ewan Leggat/Charlie Bouverat |
+44 (0) 20 3470 0470 |
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SI Capital Limited (Joint Broker) |
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Nick Emerson |
+44 (0) 1483 413 500 |
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First Equity Limited (Joint Broker) |
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David Cockbill/Jason Robertson |
+44 (0) 20 7330 1883 |
#POLB Poolbeg Pharma – PredictViral™ Patent update
4 October 2021 – Poolbeg Pharma (AIM: POLB), ‘Poolbeg’ or the ‘Company’, a clinical stage infectious disease pharmaceutical company with a capital light clinical model, provides an update on new patent filings for its PredictViral™ platform that estimates disease severity and contagiousness in people who are recently infected with a respiratory virus.
Expanding on existing PredictViral™ IP, these latest patent applications have been submitted in the UK and aims to protect a method of predicting whether an individual exposed to a respiratory virus (such as Influenza, RSV, hRV) will have a higher severity of disease and / or be more likely to be contagious. The Company will continue to focus on expanding its IP portfolio as required.
hVIVO (part of Open Orphan plc ) filed these predictive biomarker patent applications on behalf of Poolbeg and as agreed as part of the demerger process and as outlined in Poolbeg’s IPO Admission Document, ownership will ultimately reside with Poolbeg which will continue to commercialise the platform. This will provide clinicians with a risk score for recently infected patients who are likely to experience a severe form of disease. Identifying viral infections early and triaging patients based on likely severity is vitally important in optimising clinical outcomes and can be particularly important in diseases such as influenza where there is a limited window for successful treatment early in the disease. The Company will continue to focus on expanding its IP portfolio as required.
Poolbeg Pharma believes that the PredictViral™ platform offers diagnostic companies a transformative product that will enhance clinical decision-making while differentiating their platforms at a time of intense competition in this market. Discussions are ongoing with multiple parties to continue this technology’s development and license it for commercial use. The global market for diagnostic tools for infectious disease is rapidly growing and is expected to be worth over $19 billion per annum by 2025.
Jeremy Skillington, PhD, CEO of Poolbeg Pharma said:
“Protecting the IP for such an innovative disease severity platform as PredictViral™ is important and key to our strategy of commercialising this cutting-edge technology.
PredictViral™ will provide valuable information for assessing the best course of treatment for viral disease. It has the potential to help early interventions when needed and to reduce the spread of disease, even amongst those who are unaware they are infected – the importance of which has become very clear during the COVID-19 global pandemic.”
– Ends –
Enquiries
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Poolbeg Pharma Plc Jeremy Skillington, CEO Ian O’Connell, CFO
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+353 (0) 1 644 0007 |
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finnCap Ltd (Nominated Adviser & Joint Broker) Geoff Nash, James Thompson, Charlie Beeson
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+44 (0) 20 7220 0500 |
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Arden Partners PLC (Joint Broker) John Lewellyn-Lloyd, Louisa Waddell, Oscair McGrath
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+44 (0) 207 614 5900 |
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J&E Davy (Joint Broker) Anthony Farrell, Niall Gilchrist
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+353 (0) 1 679 6363 |
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Instinctif Partners Melanie Toyne Sewell, Rozi Morris, Tim Field |
+44 (0) 20 7457 2020 poolbeg@instinctif.com |
#Echo Echo Energy – Well Intervention Programme
Increase in high-quality oil production potential
Echo Energy, the Latin American focused upstream energy company, is pleased to announce, further to the Company’s announcement of 5 October 2021, that it has completed the first in a programme of sixteen proposed well interventions and workovers to bring non-producing reserves back in to production at Santa Cruz Sur.
The first intervention has now been successfully completed on a well in the Chorillos block. For the operation, a surface hydraulic pumping unit was used to induce flow and over a 100-hour period, the well delivered a cumulative 305 bbls of high-quality oil as part of this intervention and flow induction process, a rate equivalent to c.76 bopd.
The intervention focused on assessing the production potential and delivery of high-quality oil at low water cut from a well last fully online in 2013. Prior to the intervention the relevant field was producing 17 bopd from a small number of active wells.
The intervention and workover programme is in addition to the Company’s previously announced programme of reactivating, at the appropriate time, previously shut-in wells at the Campo Molino oilfield and has been commenced in line with the current strategy of focussing upon production to deliver the highest quality and highest-priced blend oil production at Santa Cruz Sur.
The Company intends to optimise the timing of when the well is brought into full production to maximise cost and operational efficiencies within the larger work programme for the Santa Cruz Sur assets.
As previously announced by the Company, prior to the completion of the well intervention, liquids production net to Echo averaged approximately 290 bopd in September 2021.
Martin Hull, Chief Executive Officer of Echo Energy, commented:
“I am pleased to announce that we have successfully completed an initial well intervention on Santa Cruz Sur. This well delivered high-quality production capacity and demonstrates the quality and production potential of opportunities available from our assets at Santa Cruz Sur. We look forward to further updating the market as our work programme progresses.”
For further information, please contact:
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Echo Energy Martin Hull, Chief Executive Officer
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via Vigo Communications |
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Vigo Consulting (IR & PR Advisor) Patrick d’Ancona Chris McMahon
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+44 (0) 20 7390 0230 |
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Cenkos Securities (Nominated Adviser) Ben Jeynes Katy Birkin
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+44 (0) 20 7397 8900 |
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Shore Capital (Corporate Broker) Jerry Keen |
+44 (0) 20 7408 4090 |
#TYM Tertiary Minerals plc – Pyramid Silver Discovery Extended
Tertiary Minerals plc (AIM: TYM) is pleased to report an update from its Pyramid Silver-Gold Project in Nevada, USA, where analytical results from the Company’s recently completed Phase 2 trenching has extended the strike and width of recently discovered silver mineralisation at North Ruth.
Highlights:
· The second phase of trenching has confirmed and extended the existing discovery;
· Silver and gold mineralisation has now been shown to extend over a strike extent of at least 530m;
· Trench 1 EXT, an extension to trench 1, revealed a zone width of up to 59 metres;
· Grades as high as 595g/t silver (17.35 ounces/ton) and 0.66g/t gold were intersected.
Commenting today, Managing Director Patrick Cullen said: “The results reported today from Pyramid highlight a significant zone of silver mineralisation with a target strike length of at least 530 metres.”
“We have also delineated a zone up to 50 metres thick at surface, with some high-grade silver results and significant complementary gold.”
“North Ruth is an attractive drill target and we look forward to reporting further progress on this exciting discovery.”
Results:
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Thickness |
Silver |
Gold |
From |
To |
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(m) |
(g/t) |
(oz/ton) |
(g/t) |
(m) |
(m) |
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Trench 1 EXT |
58.98 |
73.39 |
2.14 |
0.13 |
23.62 |
82.60 |
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Includes |
3.35 |
218.45 |
6.37 |
0.25 |
27.43 |
30.78 |
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Includes |
2.13 |
595.00 |
17.35 |
0.66 |
72.85 |
74.98 |
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Trench 7 |
2.44 |
64.39 |
1.88 |
0.47 |
22.40 |
24.84 |
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Trench 8 |
26.80 |
37.16 |
1.08 |
0.12 |
19.51 |
46.33 |
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Includes |
6.09 |
101.50 |
2.96 |
0.26 |
31.09 |
37.19 |
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Trench 8 |
6.09 |
1.10 |
0.03 |
0.73 |
85.344 |
91.44 |
A summary of significant results1 is shown in the table above. The location of the trenches and intersections outlined in this news release are shown on Maps 1 and 2, which may be accessed here http://www.rns-pdf.londonstockexchange.com/rns/0147P_1-2021-10-13.pdf or on the Company website. Further detailed information may be found below.
For more information please contact:
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Tertiary Minerals plc: |
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Patrick Cullen, Managing Director |
+44 (0) 1625 838 679 |
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SP Angel Corporate Finance LLP Nominated Adviser and Broker |
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Richard Morrison |
+44 (0) 203 470 0470 |
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Caroline Rowe |
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Peterhouse Capital Limited Joint Broker |
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Lucy Williams |
+ 44 (0) 207 469 0930 |
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Duncan Vasey |
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#POW Power Metal Resources – Tati Project Botswana – Drill Programme Commences
Power Metal Resources PLC (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces that the company’s inaugural drilling programme is now underway on the Tati Project located in the Tati Greenstone Belt near Francistown, Botswana (the “Project”). The Project is targeting large scale gold and nickel discoveries.
Paul Johnson, Chief Executive Officer of Power Metal Resources plc commented:
“The launch of this inaugural drill programme at the Tati Project in Botswana is a great step forward for the Company. The stunning pace of ground exploration at the Project has been matched by the positive findings to date and notably several multi-kilometre geochemical anomalies.
Drilling at such an early stage demonstrates our confidence in the Project and our sense of urgency to better understand the geology of several high-priority target areas. With successful exploration, Tati Project could become one of the leading projects in our portfolio.”
Highlights:
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Drill Programme |
Approximately 1,000m of reverse circulation (“RC”) drilling is planned across multiple target zones which is being undertaken by Power Metal’s drill partners Equity Drilling Ltd and Mindea Exploration and Drilling Services (Pty) Ltd.
All drill holes as part of this programme are planned for depths between 50 – 100m. RC drilling provides a inexpensive, and rapid testing method which is well suited for an early-stage drilling campaign.
The RC chip samples collected will be sent to Intertek Group plc’s laboratory located in Perth, Australia, for Fire Assay and multi-element analysis
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Exploration to Date
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Exploration on the Project has advanced at a rapid pace to its current stage since Power metal exercised its option to acquire a 100% interest in the Project on 28 July 2021.
To date, exciting multiple kilometre-scale arsenic, gold and nickel, as well as magnetic anomalies have been identified by geochemical sampling and ground-based geophysical surveys.
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Rationale for Early Drilling |
Kalahari sands which blanket the majority of the Project have precluded widespread geological mapping and prospecting, as a result the Company has decided to launch the drilling campaign in order to obtain bedrock RC chip samples from the various target areas below Kalahari sand cover.
The main goal of the drill programme is to test for the presence of the geological formations which host many of nearby historic and currently operating gold and nickel mines within the Tati Greenstone Belt.
The laboratory assay results, combined with geological logging of the RC bedrock samples will provide the company important geological information which will help guide future exploration and drilling campaigns on the Project.
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PROJECT BACKGROUND
Power Metal exercised an option to acquire a 100% interest in the Project on 28 July 2021, through its local wholly owned operating subsidiary. Details of the option exercise can be found below.
https://www.londonstockexchange.com/news-article/POW/tati-project-botswana-option-exercised/15075700
PHASE I EXPLORATION
A total of 1,107 soil samples and 49 rock samples were collected across five select areas as part of the Phase I programme at the Project which was orginally announced by the Company on 28 June 2021:
The first batch of results were analysed utilising a portable field X-ray Fluorescence (“XRF”) spectrometer, and from this work multiple large scale nickel and arsenic soil anomalies were announced by the Company on 19 August 2021:
The second batch of results including 380 soil samples from Grid 1 (or the “Sikukwe Zone”), and 49 rock samples which were analysed by fire assay for gold at Intertek Group plc’s laboratory located in Perth, Australia. The results of this programme were announced by the Company on 14 September 2021:
PHASE II EXPLORATION
The phase II geophysics programme is nearing completion with surveys now finished on Grids 3, 4 and 5. A final survey over the Sikukwe Zone will be completed within the coming days. The preliminary results and findings from this Phase II exploration have been used for the planning of the ongoing RC drilling programme. Further information in respect of the Phase II programme is available in the Company’s announcement dated 26 August 2021:
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:
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Power Metal Resources plc |
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Paul Johnson (Chief Executive Officer) |
+44 (0) 7766 465 617 |
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SP Angel Corporate Finance (Nomad and Joint Broker) |
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Ewan Leggat/Charlie Bouverat |
+44 (0) 20 3470 0470 |
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SI Capital Limited (Joint Broker) |
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Nick Emerson |
+44 (0) 1483 413 500 |
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First Equity Limited (Joint Broker) |
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David Cockbill/Jason Robertson |
+44 (0) 20 7330 1883 |
#MSMN Mosman Oil & Gas – Spud of Winters-2 Well
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development, and production company, announces the spud of the Winters-2 well in Polk County, Texas.
The Winter-2 well is now drilled to 1,445 feet with surface casing cemented. The intention is to drill to target depth in the next week. Casing has been purchased in preparation to complete the well. Any production flow rates will be announced when they are available.
Nadsoilco LLC, (“Nadsoilco”) holds a c29% interest and is the Operator of the Winters lease. Nadsoilco is a 100% owned subsidiary of Mosman.
Nadsoilco is Operator of this well and has an effective c.23% working interest in this well.
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute
inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (‘MAR’) which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service (‘RIS’), this inside is now considered to be in the public domain.
Enquiries:
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Mosman Oil & Gas Limited John W Barr, Executive Chairman Andy Carroll, Technical Director |
NOMAD and Broker SP Angel Corporate Finance LLP Stuart Gledhill / Richard Hail / Adam Cowl +44 (0) 20 3470 0470 |
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Alma PR Justine James / Joe Pederzolli +44 (0) 20 3405 0205 +44 (0) 7525 324431 |
Joint Broker Monecor (London) Ltd trading as ETX Capital Thomas Smith 020 7392 1432 |
#BRES Blencowe Resources – Corporate Presentation
Blencowe Resources (LSE:BRES) is pleased to announce a new Corporate Presentation has been uploaded on the ‘Investors’ section of the Company’s website (www.blencoweresourcesplc.com), incorporating information on the recently announced and highly positive Preliminary Economic Assessment.
For further information please contact:
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Blencowe Resources Plc Sam Quinn
Investor Relations Sasha Sethi |
www.blencoweresourcesplc.com Tel: +44 (0)1624 681 250 info@blencoweresourcesplc.com
Tel: +44 (0)7891 677 441
|
|
Brandon Hill Capital Limited Jonathan Evans |
Tel: +44 (0)20 3463 5000 jonathan.evans@brandonhillcapital.com
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First Equity Limited Tel: +44(0)20 7330 1883
Jason Robertson jasonrobertson@firstequitylimited.com
