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#TEK Tek Capital PLC – Guident Portfolio Company Update
Tekcapital Plc (AIM: TEK), (OTCQB: TEKCF), the UK intellectual property investment group focused on transforming university technologies into valuable products that can improve people’s lives, is pleased to announce that Guident Ltd. (“Guident”) has executed a letter of intent with Auve Tech OÜ (“Auve Tech”) to provide remote monitoring and control (“RMCC”) services for Auve Tech’s autonomous vehicles.
By combining Auve Tech’s advanced Level 4 autonomous vehicles with Guident’s RMCC software, the two companies will bring an enhanced level of safety to self-driving technology. Guident’s patented software provides human-in-the-loop supervision, adding an extra layer of security to the Auve Tech’s new MiCa autonomous shuttle. The Auve Tech next-generation vehicle is capable of autonomous driving in a variety of traffic and weather conditions, making it an ideal solution for safe, reliable, and sustainable transportation in geofenced areas and mixed-traffic environments.
The companies’ plan to launch the Auve Tech MiCa autonomous vehicle combined with Guident’s RMCC software to customers in North America during the second half of 2023.
The Auve Tech autonomous shuttle is aimed at enhancing last-mile transportation offering alternative means of transport in geofenced areas and mixed-traffic environments. Auve Tech has demonstrated its technology in various commercial projects in 12 countries and has proven that its vehicles can provide real autonomous mobility.
“Collaboration is key to driving innovation and progress in the field of autonomous vehicles. We are pleased to have executed a letter of intent (LOI) with Guident to have them provide our autonomous vehicles with their RMCC and monitoring service,” said Johannes Mossov, Chairman of the Management Board of Auve Tech. “This will enable our SAE Level 4 autonomous vehicles to have state-of-the-art, remote monitoring and control upon delivery.”
“The partnership between Guident and Auve Tech represents a step forward in creating safer, smart, and sustainable transportation solutions for communities. We are excited to see the launch of the new MiCa autonomous vehicle with Guident’s RMCC software, which promises to deliver an added layer of safety and reliability in autonomous driving,“ said Harald Braun, Chairman & CEO of Guident Ltd.
According to Triton Market Research “the last mile AV autonomous vehicle delivery market is expected to reach $41.7 billion by 2028 with a CAGR of 19%. Contactless or “touch-free” delivery is in high demand since the COVID-19 pandemic, and Guident believes this increased demand will accelerate the roll-out of land-based delivery drones for pedestrians, food and medicines to improve their availability and reduce the costs of these deliveries.
Guident commercializes new technology to enhance the safety, efficiency and utility of autonomous vehicles and ground-based drones using its proprietary IP & software apps for remote monitoring and control. To learn more please visit www.guident.co
About Auve Tech OÜ
Auve Tech specializes on the development and manufacturing of autonomous transportation systems. We offer a full-scope service that entails autonomous vehicles, their integration to various environments and fleet management. To learn more, please visit https://auve.tech/
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.
Tekcapital owns 100% of the share capital of Guident Ltd.
For further information, please contact:
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)
Abigail Wayne / Rob Rees (Corporate Broking)
Flagstaff Strategic and Investor Communications
+44 (0) 20 7129 1474
Tim Thompson/Andrea Seymour/Fergus Mellon
#TYM Tertiary Minerals plc -Update -Copper Projects, Zambia
Tertiary Minerals plc is pleased to announce that it’s local partner and licence holder Mwashia Resources Ltd (“Mwashia”) has now received approval of Environmental Project Briefs (“EPBs”) from the Zambian Environmental Management Agency (“ZEMA”) for the Konkola West and Lubuila Copper Projects where the Company is earning up to a 90% interest.
The Company is also providing a project update for the Mukai and Mushima North Projects following a preliminary data review and first meetings with global copper producer First Quantum Minerals Ltd (“FQM”) with whom the Company has a data sharing and technical cooperation agreement (the “Data Sharing and Technical Cooperation Agreement”) .
· ZEMA has now approved EPBs for the Konkola West & Lubuila Licences.
· The approval process for the Mukai & Mushima North Project EPBs is at an advanced stage.
· EPB approval is required before exploration can take place.
· Initial prospectivity reviews completed by consultant Remote Exploration Services (RES) of South Africa, based on historical data.
· First meetings held with FQM under the Data Sharing and Technical Cooperation Agreement. Data transfer from FQM to the Company is currently in progress.
· Exploration targeting underway with initial priority areas already defined by RES at:
Ø Mukai, where the host stratigraphy for FQMs nearby Enterprise Nickel Mine and giant Sentinel Copper Mine can be traced into the Mukai Licence where there are both copper and nickel geochemical anomalies.
Ø Mushima North, where historical drilling in the 1960s encountered wide zones of low-grade copper-sulphide mineralisation and which is prospective for iron-oxide-copper-gold (“IOCG”) deposits.
Commenting today, Executive Chairman Patrick Cheetham said:
“I am delighted to report that, following a recent series of positive updates for the Jacks Copper Project in Zambia where we have now earned a 90% interest, the necessary EPBs are now starting to be issued for the other Zambian projects where we have similar earn-in rights.
I am also pleased and excited to be reporting progress in our data sharing and technical cooperation agreement with FQM along with the definition of several exploration targets from a desktop study of historical exploration results commissioned with RES prior to our agreement with FQM.“
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
+44 (0) 203 470 0470
Peterhouse Capital Limited
+ 44 (0) 207 469 0930
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.
Tertiary is exploring in Zambia through its local subsidiary Tertiary Minerals (Zambia) Limited (“TMZ”) which is 96% owned by Tertiary Minerals plc. TMZ now holds 90% of the Jacks Copper Project with the remaining 10% held by local company and licence holder Mwashia Resources Ltd (“Mwashia”). TMZ holds an option to purchase Mwashia’s 10% interest in the Jacks exploration licence for US$3.5 million at any time.
TMZ also holds options to earn up to a 90% interest in four other licences held by Mwashia, namely the Mukai, Mushima North, Lubuila and Konkola West exploration licences. Further details of Tertiary’s agreements with Mwashia are given in the Company’s news releases of 2 August 2021 and 18 November 2021.
The Mukai and Mushima North licences are covered by a Data Sharing and Technical Cooperation Agreement with First Quantum Minerals Limited (“FQM”). Further details of the Agreement can be found in in the Company’s news release of 15 September 2022.
Before exploration can be carried out on a licence in Zambia, an Environmental Project Brief (“EPB”) must be submitted for approval by the Zambian Environmental Management Agency (“ZEMA”).
An approved EPB is already in place for the Jacks Copper Project and Mwashia has now advised that EPBs have been approved for the Lubuila and Konkola West Licences and that the process for EPB approvals for Mukai and Mushima North is at an advanced stage within ZEMA.
The Company and FQM have now held their first meeting and data transfer is underway from FQM’s proprietary regional exploration programmes that included the Mukai and Mushima North project areas. This includes extensive geological, geophysical and geochemical data.
Prior to reaching its agreement with FQM the Company had commissioned South African company Remote Exploration Services (“RES”) to conduct a desktop study on the exploration history and prospectivity of the four Mwashia licences held under option.
The following information is intended as a preliminary update of the prospectivity of the two licences that are covered by the FQM agreement and is based on the earlier RES project review which has already defined priority targets. Target generation is ongoing and will incorporate the FQM data. The Company aims to be in a position to commence field exploration as soon as possible.
Mukai Copper Project, 27066-HQ-LEL
Exploration Licence 27066-HQ-LEL covers 55.4 sq. km. and is located 125km west of Solwezi in the north-western Province of Zambia. Geologically it is in the Domes Region of the Central African Copperbelt and it encompasses Lower Roan Group rocks on the southern flank of the highly prospective Kabompo Dome.
The licence is directly adjacent to FQM’s Trident Project licences which includes the recently opened Enterprise Nickel Mine and the giant producing Sentinel (Kalumbila) Copper Mine, located 8km south and 18km southeast of the licence, respectively. FQM has invested US$2.1 billion in the Sentinel copper mine where the plant has the capacity to treat 55 million tonnes of ore per annum.
Enterprise is a sediment-hosted nickel-sulphide deposit with a total measured and indicated resource of 40 million tonnes of ore containing 431,000 tonnes of nickel from which FQM envisages processing some 4 million tonnes per year of nickel ore making Enterprise the largest nickel mine in Africa.
Just west of Mukai is Arc Minerals Ltd.’s Zambia Copper-Cobalt Project where Anglo American plc has the option to earn a 70% interest from Arc Minerals through expenditure of US$88.5 million including US$14.5 million in cash payments to Arc Minerals.
Historic exploration in the Mukai licence area has been carried out for copper by Roan Selection Trust (“RST”) in the 1960s, for uranium by Agip in the 1980s, and by an Equinox- Anglo American JV (“Zamanglo”) in the early 2000s. Most of this work was of a regional nature comprising stream sediment sampling and soil sampling.
To date, FQM has provided Tertiary with licence-wide geophysical data including magnetic data, radiometric data and electromagnetic data. FQM’s mapping, in part based on this data, has traced the Enterprise and Sentinel host rocks into the Mukai Licence where they occur in similar proximity to the deep seated Kalumbia Fault Zone.
A copper soil anomaly was identified within the Mukai licence by RST in the 1960s close to the boundary with FQM’s licences and is seen to continue into FQM’s adjacent licence as a copper and copper:scandium anomaly (high copper:scandium ratios are seen as an indicator of copper sulphide mineralisation as opposed to enhanced background level of copper in the rock). This is a high priority target for follow-up exploration.
Nickel anomalies have also been identified in the licence area, in soils by Zamanglo and in stream sediments by the Zambian Geological Survey. Data interpretation and targeting is ongoing.
The Mukai Licence contains an area of designated forest, which, although affording a higher level of environmental protection, does not exclude exploration or mining.
Mushima North Copper Project, 27068-HQ-LEL
Exploration Licence 27068-HQ-LEL covers 701.3 sq. km. and is located 100km east of Manyinga.
The licence encompasses basement rocks outside of the traditional Copper Belt and the region is a focus of exploration for copper-gold in so called Iron-Oxide-Copper-Gold (“IOCG”) deposits, best exemplified by the giant Olympic Dam copper-gold-uranium deposit in South Australia.
The past producing Kalengwa Copper Mine is situated approximately 20km west of the licence and is believed to be one of the highest-grade copper deposits ever mined in Zambia. In the 1970s high grade ore in excess of 26% copper, making up approximately 20% of the orebody, was trucked for direct smelting at Copper Belt mines.
Historical exploration at Mushima North has been carried out by RST in the 1960s, African Minerals Corporation in the early 2000s and by BHP Group Limited later in the 2000s. BHP flew their proprietary Falcon gravity gradiometer over the licence area, defining geological structures and targets for further exploration.
Historical exploration has focused on the eastern margin of a series of syenitic-granitic intrusives. A number of historic copper prospects occur within the licence and soil anomalies have been identified in RST soil sampling programmes in the 1960’s. One of these anomalies was followed up with a 154m deep drill hole, RKN 800, which intersected pyritic siltstone and sandstone containing chalcopyrite (copper sulphide) in association with calcite veins. Sampling of drill cores was very rudimentary with random samples taken at the end of each core run. Nevertheless, copper values were anomalous throughout with many samples grading more than 0.3% copper (0.3% being the upper limit on the graphical scale of analytical results presented with the drill log). This is an immediate target for follow-up exploration.
FQM has so far provided the Company with airborne magnetic and VTEM electromagnetic survey data for the Mushima North licence. This data will be processed with a view to additional target generation and data compilation and reviews are ongoing.
#KAV Kavango Resources Plc – Publication of Prospectus
Further to the announcement of 24 October 2022 in which Kavango announced it had conditionally raised £3,000,000 before expenses by the issue of 166,666,660 new ordinary shares of £0.001 each in the capital of the Company (the “New Ordinary Shares”) at a price per share of 1.8 pence, the Company is pleased to announce that the Financial Conduct Authority has approved its prospectus dated 18 November 2022 (the “Prospectus”) issued in connection with:
– the placing of 158,555,555 New Ordinary Shares (the “Placing Shares”);
– the subscription of 8,111,105 New Ordinary Shares (the “Subscription Shares”);
– the issue of 60,000,000 New Ordinary Shares to Power Metal Resources PLC (further to the announcement of 8 July 2022) (the “Kanye Consideration Shares”);
– the issue of 2,000,000 New Ordinary Shares to LVR GeoExplorers (Pty) Ltd (further to the announcement of 16 September 2022) (the “LVR Shares”);
– the issue of 13,478,951 New Ordinary Shares to Mindea Exploration and Drilling Services (Pty) (further to the announcement of 10 June 2021) (the “Fee Shares”); and
– admission of the enlarged share capital and up to 395,918,682 New Ordinary Shares.
The Prospectus has been published in electronic form and will shortly be available on the Company’s website at:
A copy of the Prospectus has also been submitted to the National Storage Mechanism and will shortly be available for inspection at
In connection with the publication of the prospectus and as announced by the Company previously, the following warrants have been issued, subject to Admission:
· 166,666,660 warrants to the placees and the subscribers of the placing and subscription announced on 24 October 2022, as applicable, and 27,777,777 warrants to Arigo Capital Limited, as announced on 25 October 2022. The warrants are exercisable at 3p per share for a term of 24 months from the date of issue. These warrants are conditional upon the approval of shareholders and details of a general meeting at which such approval will be sought will be sent to shareholders in the near future.
· The issue to Power Metal Resources PLC of the following:
o 30,000,000 warrants at an exercise price of 4.25p per share for a period of 30 months from 8 July 2022;
o 30,000,000 warrants at an exercise price of 5.5p per share for a period of 30 months from 8 July 2022; and
o 15,000,000 variable price warrants (“VP Warrants”) with a six-month life to expiry, with a minimum exercise price of 3p and an actual exercise price at a 15% discount to the volume-weighted average share price on the date of exercise per share. Should all VP Warrants be exercised by 8 January 2023, Power Metal Resources PLC will receive 15,000,000 replacement warrants, on the same exercise terms and with a 12-month life to expiry from the issue date.
· 2,000,000 warrants to LVR GeoExplorers (Pty) Ltd, exercisable for two years from the date of issue and with an exercise price of 8.5p per share.
· 8,333,334 warrants to Tamesis Partners LLP, exercisable for two years from the date of issue and with an exercise price of 3p per share.
Admission and Total Voting Rights
Application will be made for the Placing Shares, the Subscription Shares, the Kanye Consideration Shares, the LVR Shares and the Fee Shares to be admitted to the Standard List segment of the Official List and to trading on the main market of the London Stock Exchange plc (“Admission”). It is expected that Admission will become effective and that dealings in the Placing Shares, the Subscription Shares, the Kanye Consideration Shares, the LVR Shares and the Fee Shares will commence at 8.00 am on 25 November 2022.
Following Admission, the total issued share capital of the Company will consist of 705,569,314 Ordinary Shares*. Therefore, the total number of voting rights in the Company is 705,569,314 and this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest, in the share capital of the Company.
*This figure is inclusive of the 27,777,777 shares which are being admitted on 30 November 2022, as announced on 25 October 2022.
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
+46 7697 406 06
First Equity (Joint Broker)
+44 207 374 2212
SI Capital Limited (Joint Broker)
+44 1483 413500