The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
----------
SigmaRoc PLC - quarried materials company - Successful in claim to seek compensation from Sweden for land use restrictions related to subsidiary Nordkalk AB, acquired in August 2021. Nordkalk awarded compensation of SEK188 million, around £17 million. Will be adjusted for inflation and interest until payment is made.
----------
Mosman Oil & Gas Ltd - oil exploration, development, and production company with projects in the US and Australia - Says Cinnabar-1 well proved reserves lifted by 78% to 1.6 million gross barrels of oil equivalent. ‘Cinnabar is now the most significant project in Mosman’s portfolio both in terms of production and reserves,’ Chair John Barr says. ‘The board can now consider the best way to commercialise these reserves.’
----------
Sunrise Resources PLC - minerals company focused on Nevada, US - Stakes 27 new mining claims to cover targets for gold and base metals in central Nevada and adjacent to its Ridge limestone project. ‘The staking of the Reese Ridge claims is consistent with our policy to generate 100% owned attractive exploration projects at very low cost to be sold or joint ventured to other companies, and to mitigate risk from over exposure to one project or resource. We have already done this successfully with our Garfield, Stonewall, Jackson’s Wash and Pioche projects,’ Executive Chair Patrick Cheetham says.
----------
Ariana Resources PLC - exploration and development company with gold mining interests in Europe - Guides for 2023 output of 18,000 ounces of gold at Kiziltepe. Sum is ‘more than twice the production levels estimated in the feasibility plan for this approximate stage of mine life’, Ariana adds. Ariana says: ‘Average monthly production is expected at approximately 29,000 tonnes of ore, with a stockpile of approximately 120,000 tonnes currently maintained on site.’
----------
Sovereign Metals Ltd - Perth, Australia-based, Malawi-focused mining company - Independent benchmarking suggests Sovereign’s graphite co-product from Kasiya ‘should have significantly lower global warming potential’ than current natural graphite projects or those in development. One tonne of flake graphite concentrate at Kasiya estimated to be 0.2 tonnes of carbon dioxide. Sovereign adds: ‘Kasiya has the lowest GWP compared with currently known and planned future natural graphite projects. [It is] up to 60% lower than currently reported GWP of graphite producers and developers, including suppliers to Tesla Inc.’
----------
Tlou Energy Ltd - Brisbane, Australia-based power project developer with large gas field in Botswana - Begins next phase of drilling at Lesedi project. ‘Operations have commenced on a core-hole and will be followed by drilling of the next gas production well,’ Tlou adds.
----------
MGC Pharmaceuticals Ltd - Perth, Australia-based medicinal cannabis company - Enrols first patient to data collection app and machine learning algorithm Zam. Will log data to monitor effect of MGC’s epilepsy treatment CannEpil. MGC says: ‘The app will record daily metrics from patients, their symptoms, and the impact of their treatment in order to establish a baseline. This will provide both medical practitioners and MGC Pharma with a detailed record of the study and an enhanced understanding of the effect of CannEpil on refractory epilepsy patients. The app will not only provide the patients with reminders on how and when to take medication (per their medical practitioners’ advice), but will also measure treatment progress, and have the ability for a qualified doctor to prescribe alternative medication following a consultation.’
----------
Copyright 2023 Alliance News Ltd. All Rights Reserved.
