The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Kavango Resources PLC - London-based mineral explorer focused on Botswana - Says five prospecting licences in Kalahari Suture zone in Botswana renewed. One at Ditau project has also been renewed. In addition, it has been awarded a new licence at Kalahari Suture. ‘The renewal of six of our prospecting licences and the issue of one additional licence by the Department of Mines enables Kavango to plan a substantial work program across its portfolio, as well as advance discussions with potential partners,’ says Chief Executive Ben Turney.
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Tlou Energy Ltd - Brisbane, Australia-based power company focused on sub-Saharan Africa - Progresses in transmission line construction at Lesedi asset in Botswana. ‘Overall progress achieved is currently 11% which is up from 8% reported last month. The planned target was 17% indicating a slippage of 6%,’ Tlou adds. Says ‘slippage’ may be recovered in coming months. Tlou says: ‘Procurement and other issues outside the company’s control could delay the project further which will be advised in further updates if necessary. However, at this time the transmission line section should remain close to the target completion date of mid-2023.’
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CleanTech Lithium PLC - Jersey-based lithium exploration and development company focused on Chile - Reports boosted resource estimate of 1.51 million tonnes of lithium carbonate equivalent at Laguna Verde project in Chile. Resource estimate increases 22%. ‘We are very pleased with this upgrade in the Laguna Verde resource estimate to 1.51 million tonnes of LCE with more than half of the resource now in the measured and indicated category, providing much higher confidence in the resource potential of the asset,’ Chief Executive Officer Aldo Boitano says.
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Panther Metals PLC - mineral exploration in Canada - Says survey identifies new area of note at Dotted Lake property. Says zone is ‘considered very prospective zone for nickel mineralisation’. The Dotted Lake asset, wholly owned by Panther, is in close proximity to the Barrick Gold Corp-owned Hemlo gold mine.
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Neometals Ltd - London-based battery materials from upstream extraction and downstream processing - Says engineering cost study for first stage shredding plant, part of a wider lithium-ion battery recycling operation in Germany, completed. Operating cost estimate is $1,400 per tonne of feed. Capital cost estimate is $103.9 million. It factors in ‘land, buildings, plant and equipment, installation, infrastructure, pre-production and owner’s costs’.
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Artemis Resources Ltd - Perth-based miner with gold, copper and cobalt projects in Australia - Says a large copper and nickel area has been identified at Carlow asset in West Pilbara. ‘Intersecting broad shallow zones of continuous copper and nickel at Chapman is encouraging, especially as these mineralised zones appear to be related to the margins of regional gabbros and related structures,’ Executive Director Alastair Clayton says.
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Gunsynd PLC - London-based investment company focused on the natural resources, life sciences & alcohol sector - Invests further £100,000 in investee Rincon Resources Ltd. Rincon is an ASX-listed gold and base metals exploration company. ‘This further investment is subject to Rincon shareholder approval at a general meeting of Rincon shareholders to be held during the fourth quarter of 2022,’ Gunsynd says. Currently owns 8.9 million Rincon shares, roughly a 17% stake.
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Microsaic Systems PLC - Surrey-based mass spectrometry equipment company - Appointed by DeepVerge Group PLC to carry out related mass spectroscopy-based sample analysis for an environmental monitoring and remediation project. Dublin-based environmental and life science group Deepverge says it has secured a two-year environmental monitoring and remediation project with environmental technology company MereMer. Deal relates to Deepverge’s Blue Carbon Resilience project.
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Yu Group PLC - supplier of gas, electricity and water to businesses - Says adjusted earnings before interest, tax, depreciation and amortisation exceed management forecasts, as do operational cashlow and net profit. Expects adjusted Ebitda of £4.7 million for 2022. ‘The board continue to closely monitor the ability for customers to meet increased prices; especially as we enter a period where customers traditionally renew contracts and could see a significant price increase due to the exceptionally high global commodity market prices,’ Yu adds.
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Porvair PLC - Hampshire, England-based manufacturer focused on filtration and separation technology - Says performs well in its third quarter ended August 31 and is trading in line with market expectations for full-year. Order book remains elevated, but it adds: ‘In recent weeks some segments have seen signs that lead times, and thus order levels, are starting to return to more traditional levels.’
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