The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Arkle Resources PLC - Ireland-focused gold and zinc explorer - Discovers lithium-bearing pegmatites in its Mine River Block on the Wexford/Wicklow border in Ireland. Says that the results suggest that the Mine River Block is fertile for lithium caesium tantalum pegmatite deposits. ‘These are exciting results. We have discovered lithium on our licences. We found the rock type needed, pegmatites, and in the pegmatites found lithium and other indicator minerals. This opens compelling new opportunities for our Mine River Block. Prospecting will resume in the near future,’ Chair John Teeling comments.
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Apollon Formularies PLC - London-based medical cannabis pharmaceutical firm - Enters binding letter of intent with Global Hemp Group Inc. Says GHG will pay Apollon a total of $250,000, C$341,000, in two distinct tranches and issue 10 million common shares at a deemed price of C$0.015 per share for a total consideration of C$491,000. In return, GHG will be granted an exclusive licence to four Apollon patents in North America, with supporting third-party test data.
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Marble Point Loan Financing Limited - Guernsey-based closed-ended investment firm - Notes that its investment manager Marble Point Credit Management LLC was acquired by Investcorp, effective today.
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First Class Metals PLC - metals exploration company seeking large scale metal discoveries in Canada - Identifies high-grade drill hole intercepts from the West Pickle Lake massive sulphide discovery in Ontario, Canada. Notes that the assay results include a high grade from hole TK-22-073 at 10.3% nickel and 2.9% copper over 1.8 meters. ‘The West Pickle Lake nickel-copper sulphide discovery continues to report high grade nickel assays and FCM remains further encouraged by these results which includes over 7% Nickel and 2% Copper Cu over 2.6 meters in hole TK22-073. The success to date and accordingly the potential of the discovery continues to grow and, significantly for FCM, remains open to the west in the direction of the 100% FCM-owned North Hemlo property. I look forward to reporting on the progress and remaining assays in due course,’ CEO Marc J Sale comments.
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Oxford Cannabinoid Technologies Holdings PLC - cannabinoid medicines-focused pharmaceutical firm - Confirms that its Research Ethics Committee review meeting for its combined clinical trial application for phase I clinical trials for its lead programme OCT461201 took place on Wednesday. Adds that the ongoing review process is being undertaken in parallel by the Wales Research Ethics Committee and the UK Medicines & Healthcare Products Regulatory Agency.
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Atlantic Lithium Ltd - African-focussed lithium exploration and development company - Receives final assay results for a further 10,052 metres of exploration and infill diamond core and reverse circulation drilling from its Ewoyaa lithium project in Ghana. Says that the assay results confirm new mineralised pegmatites at the Grasscutter North, Kaampakrom North and Assan targets. Identifies multiple high-grade drill intersections reported at these targets.
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Tertiary Minerals PLC - mineral exploration and development company focused on energy transition metals - Reports that the Mingomba copper deposit, adjacent to its Konkola West Copper Project recently received a $150 million investment by KoBold Metals. Says that its project is currently targeting deep down-dip extensions of the contiguous Musoshi-Lubambe-Mingomba-Konkola copper deposits.
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Beowulf Mining PLC - Natural resource developer and explorer focused on the Nordic region - Invests £250,000 in Vardar Minerals Ltd which increases its stake in the company to roughly 61% from 60%. This funding will be used to start preparations for the company’s 2023 exploration programme.
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Phoenix Copper Ltd - base and precious metals explorer in US state of Idaho - Finds significant drill results from the sixth and seventh holes of the programme at the Empire open pit copper project in Idaho. ‘The metallurgical testing program is progressing as planned; however, as previously communicated, assay results are taking longer than originally anticipated due to laboratory backlog. We look forward to reporting additional assays from the program as they become available and appreciate everyone’s patience while the assay laboratory continues to make headway on the sample backlog,’ CEO Ryan McDermott says.
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Landore Resources Ltd - Mining exploration and development company in Canada - Completes the strategic review on the options available to Landore in relation to its Canadian subsidiary and assets. Says the processes generated significant interest in the assets. Does not believe that it will be possible to maximise the value of the company’s assets through a transaction ‘at this time’. Determines that it will be in everyone’s best interests for management to continue to focus on developing the value within the company’s existing assets in the near term.
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Marwyn Value Investors Ltd - investment company managed by Marwyn Asset Management Ltd - Expects to receive a £5.0 million from value-added tax reclaim.
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