The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Galantas Gold Corp - Owner and operator of an open pit gold mine in County Tyrone, Northern Ireland - Drills 13.3 grams per tonne of gold over a 2.5 metre intersection at the Omagh project in Northern Ireland. Chief Executive Officer Mario Stifano says: ‘We are pleased with the encouraging early results of our new drill program from surface. As we continue drilling on the Joshua Vein, we will test the down-dip potential of this dilation zone with the aim of expanding the resource to ultimately add to the Omagh mine’s production capacity.’
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Metals Exploration PLC - Philippines-focused gold producer - Says David Cather resigns as chair, effective immediately, after two years in the role, at the insistence of the company’s second largest shareholder, Runruno Holdings Ltd. Says the majority of the board, as well as its largest investor, MTL Lux, were against his departure. Notes Cather will continue to provide services to company’s subsidiaries as director of Metals Exploration Pte Ltd. Appoints non-executive director, Steven Smith, as interim chair.
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Fulcrum Metals PLC - Canada-focused mineral exploration and development company - Identifies a 3 kilometre gold mineralised corridor at the Schreiber-Hemlo project in North West Ontario, Canada.
Says corridor shows rock samples of 45 grams per tonne of gold, with soil sample of 0.92g/t. Notes drilling at Schreiber-Hemlo is planned for October. Also plans to drill at the Tully project, which it acquired back in August, as soon as possible.
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Panther Metals PLC - Canada-focused mineral and exploration company - Notes statement from Fulcrum Metals, which it currently holds a 20% interest in. Chief Executive Officer Darren Hazelwood says: ‘Panther are pleased to note that Fulcrum have submitted a drilling permit application for a multi-target drill programme at Big Bear during 2024. In the nearer-term the planned winter drilling programme at the Tully Project, which has an existing historic gold resource of over 100,000 ounces, has the potential to bring a material uplift to the value of Fulcrum, especially given the high-grade nature of the historic gold drill intersections that will be confirmed and the open-ended nature of the mineralised body.’
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Hunting PLC - London-based equipment manufacturer for the energy industry - Says joint-venture company with Jindal SAW Ltd, Jindal Hunting Energy Services Ltd, has opened a new manufacturing facility in India for the production and supply of pipes, tubes and the oil country tubular goods market within the Indian oil and gas sector. Says the facility will have an annual threading capacity of 70,000 metric tons OCTG. Hunting Chief Executive Officer Jim Johnson says: ‘This is a fantastic milestone, firstly with our strategic partnership with Jindal SAW Ltd back in August 2019 to the realization of the vision developed over the past four years, great progress has been made. Today, both Jindal SAW and Hunting make history, with the opening of the JV’s full-fledged premium OCTG, accessories and manufacturing operations, in support of the government’s ’Make in India‘ initiative. Hunting will work alongside Jindal SAW to provide the highest standards in quality and services in delivering the best premium OCTG and accessories to our valued customers in India and also abroad.’
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Mobeus Income & Growth VCT PLC - London-listed venture capital trust - Says net asset value per share at June 30 was 60.12 pence, down 20% from 75.55p a year prior while NAV total return was 1.7%. Declares an interim dividend of 5.00p per share, up 25% from 4.00p per share the year before. Net unrealised gains in the six months to June 30 were £1.5 million. Says it received proceeds from investments totalling £2.7 million in the first half of 2023, which contributed to a net realised gain of £390,000.
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Valeura Energy Inc - Alberta, Canada-based Thailand and Turkey-focused oil and gas company - Says wells A28 and A28-ST1 successfully drilled in Wassana oil field, and confirm net oil pay of 72 feet and 75 ft respectively. Adds wells successful in confirming an increase in volumetric estimates. Says it has started to review development options to expand production infrastructure.
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