Home » Posts tagged 'london stock exchange'

Tag Archives: london stock exchange

UK Investor Magazine Podcast – CEO Alan Green discusses #HSBA HSBC , #POW Power Metal Resources and #TEK Tekcapital

HSBC has stepped in to buy SVB’s UK arm and provide certainty to their deposit holders. This has avoided immediate contagion but investors a still clearly uncertain about the medium term consequences as the FTSE 100 drops another 2% in early trade on Monday.

Tekcapital has announced MicroSalt has added another distributor in H Mart. H Mart will stock their SaltMe crisps.

We also look at Power Metal Resources and their change of personnel. Paul Johnson will stand down as CEO, but will remain a part of the company.

#POW Power Metal Resources PLC – Athabasca Basin – Uranium Portfolio Update

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 uranium property portfolio focused on the Athabasca Basin area in Saskatchewan, Canada.

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

There is significant competition for high quality uranium ground in and surrounding the Athabasca Basin in Saskatchewan, Canada. As outlined below, there were other uranium companies also lodging applications over the Haresign Bay Property which we announced on 2 February 2023 and which has reduced the amount of ground we were able to secure at that project.

The interest in the Athabasca Basin is noticeably increasing meaning we must accelerate the acquisition of additional ground. By moving quickly, the Power Metal technical team has already taken action by staking an additional two properties located within the Basin.

Given the recognition of uranium as a key commodity for future power generation we are also accelerating our efforts to secure projects in other regions as quickly as possible to build our exposure. The level of interest in uranium exploration extends across many high-profile regions globally and there is no time to waste on this.


– All claims were acquired by direct mineral claim staking by the Power Metal technical team. They were acquired through the Mineral Administration Registry Saskatchewan (“MARS”) electronic registry system on 15 February 2023. The staking acquisitions represent significant additions to the Company’s uranium portfolio. Further information on the staking process can be found in the Further Information section below.


– The newly acquired Hawkrock East and Hawkrock West uranium properties (collectively the “Properties”) cover a total combined area of 4,280-hectares (42.80km2) within the prospective Snowbird Tectonic Zone (“STZ”) in the northeastern corner of the Athabasca Basin.


· Historical exploration completed covering the Hawkrock East property identified elevated radon, uranium and methane-in-groundwater coincident with largely untested electromagnetic (“EM”) geophysics conductors. Previous drilling completed by the Saskatchewan Mineral Development Corporation (“SMDC”) in 1981 identified major faulting and pelitic geology which is considered by the Company to be comparable to many Athabasca basin unconformity-related uranium deposits.


– The Hawkrock West property, located 12km to the west of Hawkrock East, is centred around multiple EM conductors which are coincident with elevated uranium pathfinder elements (incl. As, Co, Ni, Th and Pb) in lake sediment sample assays. Previous drilling completed by D.F Exploration Ltd in 1997 returned elevated uranium, thorium and radiation counts-per-second (“CPS”) readings of drill core in close proximity to the Athabasca sandstone and basement unconformity.


– Due to a correction following concurrent competing applications within the MARS electronic claim registry, Power Metal’s previously staked Haresign Bay Property has been reduced in size from 3,189-hectares (31.89km2) to 165-hectares (1.65km2) with two other uranium focused companies securing the balance. The Kernaghan Property was unaffected and remains as previously announced. This reduced the staking cost of Haresign Bay Property to CAD$300 from CAD$1,913.51. Both Haresign Bay and Kernaghan properties come with a two-year term with no minimum spend requirement and which can then be extended for subsequent years by spending an aggregated minimum of CAD$72,623 per annum.


– With the addition of the Properties, as well as the reduction of the Haresign Bay Property, the Power Metal Athabasca uranium portfolio now consists of sixteen properties, including two conditional disposals1,2, with a combined total area of 965.73km2.



The Properties are located in the northeastern corner of the prolific Athabasca Basin and within the STZ. The STZ is a 200km wide structural zone which crosses the Athabasca Basin in a northeast-southwest orientation. On the other side of the basin, the STZ is host to the Centennial unconformity related uranium deposit owned by a joint venture between Orano SA and Cameco Corp., where drilled intersections include up to 34m @ 8.8% U3O8.3

Mineral Claim Staking Process

The mineral claims constituting the Properties were acquired directly through the Mineral Administration Registry Saskatchewan (“MARS”) electronic claim registry system.

Where a previous claim owner is unable to satisfy the claim maintenance requirements, that ground is reopened to third party staking. The total cost of staking the Properties was a combined CAD$3,340.75. The newly staked licences come with a two-year term with no minimum spend requirement and which can then be extended for subsequent years by spending an aggregated minimum of CAD$83,519 per annum.

The Properties staked are pending licence grant which is expected shortly.

Next Steps

The Company is preparing fact sheets which will include further information and maps for newly acquired staking. These will be released to the market once ready. Furthermore, detailed data rooms are being prepared.



Power Metal has a 100% subsidiary Power Metal Canada Inc (“Power Canada”), which acts as the holding Company for certain Canadian project operations. Power Canada has a wholly-owned subsidiary, 102134984 Saskatchewan Ltd, which is the holder of the Company’s Athabasca uranium portfolio.

Table 1: 102134984 Saskatchewan Ltd., Athabasca Basin Property Holdings



Licence ID





Clearwater Uranium Property



















Tait Hill Uranium Property






















Thibault Lake Uranium Property










Soaring Bay Uranium Property













Cook Lake Uranium Property




E-12 Uranium Property1




Reitenbach Uranium Property2






















Reindeer Lake




Porter Lake







Old Woman Rapids










Durrant Lake




Badger Lake




Haresign Bay














Hawkrock East





Hawkrock West





Total Licence Holding Area



*Resulting licence area after reduction


1: The E-12 Property, currently included as one of the 16 uranium portfolio properties, is subject to a conditional disposal to Teathers Financial PLC for a consideration of £250,000. Work is ongoing to complete that transaction. See Company announcement released on 4 November 2022.

2: The Reitenbach Property, currently included as one of the 16 uranium portfolio properties, is subject to a conditional disposal to Teathers Financial PLC for a consideration of £360,000. Work is ongoing to complete that transaction. See Company announcement released on 8 August 2022.

3: Jiricka, D.E., and Witt, G., 2008, The Centennial deposit-an atypical unconformity-associated uranium deposit: Calgary, Mining Forum, April 2008.



Electromagnetic Conductors: In the Athabasca Basin area, uranium mineralisation is often associated with graphitic fault conductors within the crystalline basement. Graphite and faults are more conductive than the surrounding rocks, and thus offer a proven geophysical target for future exploration.



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


#SVML Sovereign Metals Ltd – Issue of Unlisted Performance Rights

Sovereign Metals Limited (Sovereign or the Company) (ASX:SVM, AIM:SVML) advises that it has issued 1,560,000 Performance Rights to key employees and consultants as follows:

·      740,000 performance rights subject to the “Pre-Feasibility Study Milestone” expiring on 30 September 2023; and

·      820,000 performance rights subject to the “Feasibility Study Mine Milestone” expiring on 31 October 2025.

Following the issue of these Performance Rights, Sovereign has the following securities on issue:

·      470,875,023 ordinary fully paid shares;

·      11,105,125 unlisted options exercisable at A$0.80 each on or before 13 May 2023;

·      6,100,000 unlisted performance rights subject to the “Pre-Feasibility Study Milestone” expiring on 30 September 2023; and

·      8,260,000 unlisted performance rights subject to the “Feasibility Study Milestone” expiring on 31 October 2025.


Dylan Browne
Company Secretary

+61(8) 9322 6322

#TEK Tekcapital Plc – Investee Company MicroSalt Partnership

Tekcapital Plc (AIM: TEK), (OTCQB: TEKCF) the UK intellectual property investment group focused on creating valuable products from investing in university technology that can improve people’s lives, is pleased to announce that MicroSalt announced a partnership with Presty! Foods for the development and roll-out of low-sodium solutions across Presty’s line for plate-ready meals.


We are proud to work with Presty! Foods in their efforts to offer low-sodium solutions to their customer base. We view Presty as a thought leader in offering lower sodium as an active option in its ingredient listing. Excess sodium consumption is a leading contributor to hypertension and cardiovascular disease, and partnerships like this are the best way to make a difference in our efforts to address the sodium crisis,” said Rick Guiney, CEO of MicroSalt®.”


Presty! Foods is looking forward to working with MicroSalt® to help with our low-sodium initiatives. Sodium is a worldwide concern in the food industry, and we believe Rick and his team are the industry leaders that can help propel Presty! Foods for future growth,” said Maxime Gervaise Presty, founder of Presty! Foods.”


This partnership is expected to have a significant impact on both companies, including:


●    MicroSalt® and Presty! Foods being positioned as leaders in the low-sodium prepared foods initiative.

●    Expanding their customer base around the globe with healthy, lower sodium alternatives.


This partnership marks MicroSalt’s entrance into the plate-ready meals market, a new industry segment for the Company. 


Market Opportunity

The global ready meals market size was valued at US$138 billion in 2021, and is expected to reach $408 billion by 2031, with a CAGR of 11.9% during the forecast period.


About Presty! Foods

The Presty! Foods brand was founded in a blending of innovative and diverse cultures, travels, tastes, and people, and every plate-ready meal they develop should continue to embody that spirit of delicious innovation. They manufacture Presty and Private Label brands in their facility in France, where they specialize in developing innovative and delicious options to supply the booming Heat and Eat category, which grew 297% in 2018, creating differentiated recipes unique to the U.S. market. To learn more about Presty! Foods please visit https://prestyfood.com/.

About MicroSalt

MicroSalt, is the developer and manufacturer of a proprietary low-sodium salt called MicroSalt®. We are passionate about improving peoples’ lives with better-for-you seasonings and snacks by taking the lead in the industry by providing the best low-sodium salt solution, based on the mechanical transformation of the salt particle itself. This solution is the only one that delivers real salt flavor because it is salt. Our new patented technology produces salt crystals that are approximately one hundred times smaller than typical table salt, delivering a powerful saltiness as the micro-grains dissolve in the mouth, with approximately 50% less sodium consumption. Additionally, the ultra-small particle size enhances product adhesion, which reduces waste and provides improved flavor consistency. MicroSalt® and SaltMe® are registered trademarks of MicroSalt Inc.


To learn more about MicroSalt please visit https://www.microsaltinc.com


Tekcapital owns 97.2% of the share capital of MicroSalt Ltd. and 73% of MicroSalt Inc. its U.S. subsidiary.  


About Tekcapital plc

Tekcapital creates value from investing in new, university-developed discoveries that can enhance people’s lives and provides a range of technology transfer services to help organisations evaluate and commercialise new technologies. Tekcapital is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in the UK. For more information, please visit www.tekcapital.com.



For further information, please contact:

Tekcapital Plc 

Via Flagstaff IR

Clifford M. Gross, Ph.D. 

SP Angel  Corporate Finance LLP                                                         (Nominated Adviser and Broker)

+44 (0) 20 3470 0470 

Richard Morrison / Charlie Bouverat (Corporate Finance)

Rob Rees (Corporate Broking)



Flagstaff Strategic and Investor Communications                                    +44 (0)207 129 1474

Tim Thompson/Andrea Seymour/Fergus Mellon        

#POW Power Metal Resources PLC – Molopo Farms Complex Project Update

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 the Molopo Farms Complex Project (“Molopo Farms” or the “Project”) targeting a large-scale nickel-copper-platinum group element (“PGE”) discovery in southwestern Botswana.

On 28 September 2022 the Company announced an update regarding the delineation of a second major conductor at target area T2-3, as well as an update regarding its ongoing geophysics programme. The link to this announcement is below:


The above update noted that further analyses in respect of target (T1-3) were ongoing, the results of which are now covered below.


T1-3 Major Drill Target

Final compilation and analyses of the ground-based moving loop electromagnetic (“MLEM”) and magnetic geophysical surveys over target area T1-3 are now complete.

 Geophysical inversion of the MLEM data has highlighted a significant ‘jelly-bean’ shaped, geophysical conductor at target area T1-3. This conductor remains open to the east-west and sits within a magnetic trough observed in both the ground and airborne magnetic surveys. No drilling has ever been completed over this target area.

 Historical airborne electromagnetic (“AEM”) data over T1-3 have been further analysed with results showing the MLEM conductor may extend out to 1.6km in an east-west direction, based on coincident airborne/ground survey anomalies.

 The T1-3 conductor has been given a high-priority (A+) ranking by the Company, the same priority attributed to the conductor at T1-6 (where drilling is ongoing) as well as the new conductor identified at T2-3.

 A planned 450m diamond core drillhole, DDH1-3A, has been designed to intersect the T1-3 conductor at approximately 300m downhole depth. The Company has added this hole to the list of holes to be drilled during the ongoing 2022 campaign. Considering the proximity of T1-3 to ongoing drilling at T1-6 (33km southwest), it is possible that T1-3 will be drilled after holes DDH1-6B and DDH1-6C complete, with drilling at T2-3 to follow (see map for relative locations).

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

The inventory of high priority A+ ranked drill targets at Molopo are building and we now have the third, T1-3, added to the list.   We plan to drill all three high priority targets during the current drill programme.

Our review has also identified further targets which we believe could become additional priority drill targets subject to additional technical work over those areas.


Each priority conductor identified to date, including T1-6, T1-3 and T2-3, are located proximal to a geological feeder zone but each possess unique size and scale dimensions. By drilling all of these targets, the Project becomes inherently de-risked, and the prospect of a discovery or discoveries increases.


Our attention is principally focused on drilling, with our first drill hole into the T1-6 conductor underway and I look forward to providing further updates at the earliest opportunity.”



 Spectral Geophysics have now completed the 2022 Phase I & II exploration programmes which included four MLEM and four magnetic geophysics surveys over targets T1-6, T1-14 and T2-3 and T1-3. The MLEM and magnetic survey results are assisting the company in refining further drill collar locations for the ongoing 2022 diamond drilling campaign.


 To date, the MLEM survey results have now highlighted:

 T2-3 (A+): A flat-lying, slightly concave (downward), conductor which remains open in all directions. Drilling is planned at this target.

 T1-6 (A+): A large, southerly dipping conductor which remains open towards the south, east and west. Drilling is ongoing over this target.

 T1-3 (A+): A ‘jelly-bean’ shaped conductor which remains open towards the east and west. Drilling is planned at this target.

 T1-14 (B): A conductor which is near-to the contact zone with known Transvaal carbonaceous mudstones. Due to the estimated depth required to reach this conductor (approx. 650m) and the geological complexity associated with this area, it has been given a lower priority ranking than T2-3, T1-6 and T1-3.


 The Company has also completed an in-depth review of a historical AEM report covering the majority of the Molopo Farms Complex Project. Considering priority areas T1-6, T2-3 and T1-3 were originally identified by the historical AEM survey results, it was decided that further investigation of the targets identified by this report were warranted. Significantly, five of the strong AEM conductors, including T1-2, T1-4, T1-5, T1-10 and T1-11 have been upgraded and are now classified as priority airborne targets by the Company. At T1-11, a 2020/2021 drillhole (KKME1-11) completed by the previous operator was determined to not have adequately targeted this conductor. The Company is in ongoing discussions with its geophysical contractor to determine next steps over these target areas.



Figure 1 – Molopo Farms Complex Project Plan Map: A plan map of the Project area, including the location of various elements mentioned above is outlined in Figure 1 below.

Figure 2 – Priority Target Area T1-3 3D View: A 3D view showing the location of the planned drillhole DDH1-3A and the MLEM results (new conductor in blue). The red-pink block model are magnetic inversion results showing the new ‘jelly-bean’ shaped conductor sits within a magnetic trough.

The diagrams and image presented above may also be viewed on the Company’s website through the following link:


Further photographs and videos from the drill programme are and will be available on the Company’s website gallery section, through the following link:





Power Metal currently has a current circa 53% effective economic interest in Molopo, held through a direct project interest and a shareholding in partner Kalahari Key Mineral Exploration (Pty) Ltd (“KKME”).  On 18 May 2022 Power Metal announced a conditional transaction that would see its interest in Molopo Farms increasing to 87.71% (the “Transaction”).  The announcement may be viewed through the following link:




As part of the Transaction, Power Metal will become the Project operator and in advance of completion the Company is working with the team at KKME to maintain momentum with regard to Project exploration.


Work streams are also in process to secure Botswana regulatory approvals enabling the Transaction to complete.




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 Qualified 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.



1:            Power Metal PLC announcement, Molopo Farms Complex Project, Botswana – Major Drill Target T2-3



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


#ORPH Open Orphan PLC – Director dealings

Open Orphan plc (AIM: ORPH), (to be renamed hVIVO plc (AIM: HVO) effective 26 October 2022), 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 has received notification that on 29 September 2022, Yamin ‘Mo’ Khan, Chief Executive Officer of the Company, purchased 510,204 ordinary shares of 0.1 pence each in the capital of the Company (“Shares”) at a price of 9.8 pence per Share. Following the purchase of shares Mo holds 510,204 ordinary shares representing approximately 0.08 per cent of the Company’s issued ordinary capital.


Yamin ‘Mo’ Khan, Chief Executive Officer of Open Orphan plc, said: The purchase of shares in the Company demonstrates both my commitment and my confidence in our long-term growth strategy. Since my appointment as CEO in February 2022, we have made significant progress, delivering continued growth and a record orderbook valued at c.£80m as of 1 September, which provides excellent forward visibility into H2 2022 and 2023.”


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 (as implemented into English law) (“MAR”). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.


For further information please contact:


Open Orphan plc

+44 (0) 20 7756 1300

Yamin Khan, Chief Executive Officer

Liberum Capital (Nominated Adviser and Joint Broker)

 +44 (0) 20 3100 2000

Ben Cryer/ Edward Mansfield/ Phil Walker/ Will King

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)

Stephanie Cuthbert / Phillip Marriage /
Louis Ashe-Jepson

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

+44 (0) 7796 794 663 / +44 (0) 7867 984 082 /
+44 (0) 7747 515 393

#TYM Tertiary Minerals – Appointment of Exploration Manager, Zambia

TYMTertiary Minerals plc is pleased to announce that it has retained the services of Richard Belcher as its Exploration Manager for Zambia.

Richard is a multi-commodity, multi-disciplined explorationist with a strong technical background and 19 years’ post-PhD experience across all stages of exploration with an emphasis on gold and base metals in Africa, including in Zambia.

He has a proven capability from reconnaissance through to resource stage in challenging environments and was most recently a senior consulting geologist to Altus Strategies before its recent merger with Elemental Royalties.

Richard holds a BSc (Hons) Exploration Geology from Cardiff University (UK) and a PhD from Stellenbosch University (RSA) and is a Chartered Geologist and Fellow of the Geological Society of London.

Commenting today, Executive Chairman Patrick Cheetham said:

“This is a key appointment for the Company as we ramp up our exploration in Zambia. Richard will be leading the collaboration with major Zambian copper producer First Quantum Minerals that we announced earlier this month.

We look forward to working with Richard and with FQM and to our first joint technical meeting with FQM which is due to be held next week.”


For more information please contact:

Tertiary Minerals plc:
Patrick Cheetham, Executive Chairman +44 (0) 1625 838 679
SP Angel Corporate Finance LLP

Nominated Adviser and Broker

Richard Morrison +44 (0) 203 470 0470
Caroline Rowe  
Peterhouse Capital Limited

Joint Broker

Lucy Williams + 44 (0) 207 469 0930
Duncan Vasey  


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 which forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (‘MAR’). Upon the publication of this announcement via a Regulatory Information Service (‘RIS’), this inside information is now considered to be in the public domain.


About Tertiary Minerals plc

Tertiary is exploring for copper and precious metals in Nevada, USA, and in Zambia through local subsidiary Tertiary Minerals (Zambia) Limited (“TMZ”) which is 96% owned by Tertiary Minerals plc. TMZ has the right to acquire up to a 90% interest in five licences held by local company and licence holder Mwashia Resources Ltd, two of which are subject to a technical collaboration with First Quantum Minerals as announced on 15 September 2022 .

Further details of Tertiary’s agreements with Mwashia are given in the Company’s news releases of 2 August 2021 and 18 November 2021.


#KAV Kavango Resources Plc – KCB – completion of acquisition of 90pc of LVR JV

Botswana focussed metals exploration company Kavango Resources plc (LSE:KAV) (“Kavango”) is pleased to announce completion of the acquisition of 65pc of the LVR Joint Venture (the “LVR JV”) (the “Acquisition”). This takes Kavango’s holding in the LVR JV to 90pc.

The LVR JV incorporates prospecting licences PL082/2018 & PL 083/2018, which together cover 809km2 of ground highly prospective for copper/silver discoveries in the Kalahari Copper Belt (“KCB”).

Ben Turney, Chief Executive Officer of Kavango Resources, commented:

As we move towards our maiden drill campaign in the Kalahari Copper Belt, completing the acquisition of 90 per cent of the LVR Joint Venture is an important step forward. The two prospecting licences in this vehicle are highly prospective for copper/silver exploration.

PL082 is one of our most exciting and advanced opportunities. Located in the heart of the Belt, this licence has two primary target areas that have returned significant in-soil copper anomalies, with a peak pXRF value of 118.8ppm copper. The Central Zone is 27km in strike length and the Northern Zone is 8km in strike, emphasising this project’s scale.

Meanwhile, PL083 is located near the Namibian border. Sand cover here has limited historic exploration, but with the strength of our in-house geophysics team we are working on some ground-breaking regional modelling that we expect to enable us to unlock previously unrecognised potential.

We look forward to commencing drilling here in the near future.”

Acquisition Details

Kavango Resources plc and its Botswana subsidiary Kavango Minerals (Pty) Ltd (together “Kavango”) have executed a sale purchase agreement (“SPA”) with LVR GeoExplorers (Pty) Ltd (“LVR”) to acquire a further 65pc in the LVR JV. Kavango had already earned into 25pc of the LVR JV (announced >>> 03 June 2021).

Kavango entered into an Memorandum of Understanding (“MoU”) with LVR in November 2021 (announced >>> 26 November 2021), which outlined the terms of the Acquisition. These remain the same.

As a result of signing Kavango now owns 90pc of the LVR JV and remains as operator.

The LVR JV includes the following prospecting licences:


Licence No.

Next renewal date

Area (sq.km)










Application has been made by both parties to the Department of Mineral Resources for transfer of the LVR JV prospecting licences to Shongwe Resources (Proprietary) Ltd. (“Shongwe”), a company which will be controlled by Kavango. On completion of this, Kavango will issue shares to LVR as detailed below.

Kavango will issue to LVR 2,000,000 Ordinary Shares (at an issue price of 5.5p per share) and 2,000,000 warrants, exercisable at 8.5p per share for a period of two years (the “Warrants”). No royalty or other deferred payment to LVR is required to be made by Kavango.

Kavango will carry LVR’s 10pc holding in the LVR JV through to Bankable Feasibility Study (“BFS”). Beyond this, LVR are to contribute on a pro-rata basis or will be diluted.

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                                                                                     

Ben Turney


 First Equity (Joint Broker)

+44 207 374 2212

Jason Robertson             

SI Capital Limited (Joint Broker)                                                                          

+44 1483 413500

Nick Emerson

Kavango Competent Person Statement

The technical information contained in this announcement pertaining to geology and exploration have been read and approved by Brett Grist BSc(Hons) FAusIMM (CP).  Mr Grist is a Fellow of the Australasian Institute of Mining and Metallurgy with Chartered Professional status.  Mr Grist has sufficient experience that is relevant to the exploration programmes and geology of the main styles of mineralisation and deposit types under consideration to act as a Qualified Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’.

Andrew Hore Quoted Micro 1 April 2019


Brewer Adnams (ADB) increased its revenues last year, but it reported a loss. Beer volumes grew by 2.2% and revenues were 6% ahead at £78.9m. The loss of £877,000 was after £1.77m of pension and property impairment costs. The final dividend is unchanged at 150p per B share. Adnams is optimistic about the proposed government review into small breweries relief – if Adnams paid the same duty rates as small brewers it would save £7m a year.

European Lithium (EUR) is making progress with its definitive feasibility study for the Wolfsberg lithium project in Austria. The plan is to produce lithium chemical for batteries. A test programme has been completed and this is designed to improve grades and the amount of lithium-bearing mineral. Laser sorting was found to be the best method.

Capital for Colleagues (CFCP) has increased its NAV by 9% to 48.05p a share in the six months to February 2019.

Trading in the shares of Block Commodities (BLCC) has restarted following the publication of its interim results. There was $1,000 in the bank at the end of 2018 and a further $400,000 has been raised via a convertible loan. This will fund the entry in the cannabis market. Block is collaborating with Hexis Lab to develop cannabis-based therapeutic and cosmeceutical products

Altona Energy (ANR) has net assets of £11m, but these are predominantly intangible assets. There are also £19.8m of potential tax losses. Altona is re-evaluating its underground coal gasification project in South Australia and assessing an investment in a Chinese vanadium mine.

MetalNRG (MNRG) plans to move to the standard list. An option agreement has been replaced with a farm-in agreement for the Kamushanovskoye uranium deposit. This will reduce the immediate cash outflow. A $161,000 payment was made under the option agreement and $400,000 more has to be paid by 10 April to earn a 51% economic interest. This payment is conditional on a capital raising at the time of moving to the standard list. A further $1.99m investment is required in three equal tranches in order to maintain the stake. The payments are due in November 2019, April 2020 and October 2020.

Walls and Futures REIT (WAFR) outperformed the MSCI UK Residential Property index last year, because it achieved 8.75% growth, compared with 5.2% for the index.

The net liabilities of Welney (WENP) increased from £234,000 to £301,000 in 2018. This is being funded by loans from directors. Costs have been kept low as management seeks a suitable acquisition.

Sport Capital Group (SCG) has issued 800,000 shares at 0.625p each to pay for adviser fees on the unwound acquisition of Palermo FC.


Churchill China (CHH) improved margins last year. Revenues were 7% higher at £57.5m, but underlying pre-tax profit was 26% higher at £9.4m. Growth in exports is a major factor and they account for three-fifths of revenues. Retail sales fell and hospitality sales increased by £5m. The total dividend was raised from 24.6p a share to 29p a share. There was £14.4m in cash at the end of 2018.

Cloud-based communications software provider Cloudcall (CALL) increased recurring revenues by one-third last year and total revenues were 28% ahead at £8.8m. The fastest growth was in the US. The cash outflow from operations increased from £1.57m to £2.38m. This is due to higher operating costs in terms of product development and marketing.

Frontier IP (FIPP) has increased the value of its portfolio of investments by 27% to £11.5m in the six months to £11.5m. NAV is 38.8p a share. The deal by investee company Exscientia, which is involved in AI-based drug discovery, with Celgene Corporation should result in a substantial uplift in its valuation in the current six month period.

Parity (PTY) says it has lost a major contract with the Scottish government, but it should not have a significant effect on profit because it is low margin. This year’s revenues will be 10% below expectations. The 2018 results will be announced on 16 April.

Rambler Metals and Mining (RMM) has launched a one-for-one open offer to raise up to £1.7m at 1.4p a share and it closes on 12 April. This follows the £8.4m placing at 1,4p a share, which raised cash to pay off debt and provide working capital.

Alliance Pharma (APH) improved its pre-tax profit from £23.9m to £28.1m. This excludes a £1.9m write down of an acquired intangible relating to a manufacturing supply contract. A pre-tax profit of £32.8m is forecast for 2019.

Quixant (QXT) reported a strong second half to 2018 even though the gaming machines market was tough. Full year revenues were 5% higher at $115.2m and pre-tax profit improved from $17.7m to $18.2m. This year will also be second half weighted with revenues expected to hit $119m and pre-tax profit of $20m forecast.


Funds managed by Epiris LLP have launched a recommended cash offer of 193p a share for Ireland-based financial services group IFG (IFP), valuing it at £206m.

Ovoca Bio (OVB) is increasing its stake in IVIX to 59.9%. The additional 9.9% costs $2.04m. IVIX’s drug Libicore has met the pre-specified primary efficacy endpoint and significant outcomes in secondary endpoints as part of its phase 3 clinical trial for the treatment of hypoactive sexual desire disorder.

Standard list shell Baskerville Capital (BASK) still had £1.54m in the bank at the end of 2018. Potential technology acquisitions are being assessed.

Blockchain Worldwide (BLOC) is still seeking an acquisition after the deal to buy Chorum fell through due to weak stockmarkets. There was £1.21m in the bank at the end of 2018.

Andrew Hore

Ian Pollard: Stagecoach Pleased With Operating Loss of £6.2m (Unadjusted)

Stagecoach Group plc SGC  is pleased to report positive half-year financial results, ahead of expectations, at least according to the Chief Executive, David Griffiths. These included a total unadjusted operating loss of £6.2m compared to a profit of £114.8m profit for 2018, which may lead the more cynical to comment that some people are easily pleased. Virgin Rail did produce a strong profit in the six months to the  27th October but a statutory loss of 5.5p per share compares with last years first half earnings per share of 13.6p. Not surprisingly the interim dividend remain unchanged. Encouraging results have been delivered at the UK regional bus business, together with high customer satisfaction. The above forecast rail earnings have enabled increased  expectations for full-year adjusted earnings per share.

Wood Group plc WG  has been awarded a $43 million (USD) contract by a large-cap midstream US company to construct 80 miles of steel pipeline in west Texas. This is a strategic pipeline for the US and a milestone project for the company.


Versarian plc VRS is delighted to have entered into an MOU with a subsidiary of a subsidiary of China Railway Group Limited (“CRG”).one of the world’s largest construction and engineering contractors. The cooperation is intended to explore the applications for graphene, which are specific to CTCE’s needs. IT is envisaged that CTCE will provide funding for any manufacturing venture in a structure to be agreed.

Image Scan Holdings IGE after rapid growth in both sales and profits between 2015 and 2017 the year to the 30th September proved to be a disaster. Sales fell from £5m to £3.5 and profit before tax slumped from £480,000 to £90,000 as the company was impacted by exceptional costs associated with the an aborted acquisition and a decline in portable X-ray orders .However the order pipeline is strong, the team has been strengthened and  research and development has been refocused with the aim of returning to the growth of previous years.

Brave Bison Grp plc BBSN reports it is on track for a year of real progress in 2018. Trading is ahead of management expectations with an improved financial performance, revenues growing and full-year EBITDA3 positive for the first time since the Group came to market in 2013, as well as expectations of cash flow being positive. In October the company was named as the worlds second-biggest digital media publisher for views and consistently in the top 10 during 2018. The shares are so far responding well in early trading this morning.

·     Luxury Villas For Sale in Greece  http://www.hiddengreece.net

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.