The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Marula Mining PLC - Africa-focused mining and development company - Says its R 25 million resource drilling and mine planning programme at its Blesburg lithium and tantalum project is proceeding well, in budget and ahead of schedule. Says phase 1 has been completed, with drill cores from 21 holes sent to laboratories in South Africa. Results are due shortly. Says phase 2 on schedule for completion in mid-December. Chief Executive Jason Brewer says: ‘’Marula’s management is pleased with the progress that is being made on this, the company’s first drilling program across its battery metals portfolio of project. These are exciting developments as we target the release of a maiden, JORC 2012 Code compliant mineral resource for Blesberg, an independent Competent Persons Report and detailed financial forecasts for the planned open pit hard rock mining plan which we anticipate will commence in early 2024.‘
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Wheelsure Holdings PLC - Fareham, England-based industrial engineering company - Says its admission to the AQSE Growth Market has been cancelled on Wednesday due to its continued suspension. Shares were suspended due to delayed publication of financial year 2022 results, and remain so due to lack of working capital. Says it has received limited additional funding support since its final results. Says it is in investment discussions, but has no visibility of immediate funding and is not in a position to restore shares. Adds that following cancellation it is no longer subject to AQSE rules, including requiring shareholder approval for a reverse takeover.
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Foresight VCT PLC - invests in UK small and medium-sized enterprises - Launches subscription offer to raise £20 million, with an over-allotment facility of up to £5 million, via the issue of new shares. Says offer will close on April 3 2024 in respect of the 2023/2024 tax year, and on April 30 for the 2024/2025 tax year. Notes that funds raised will maintain liquidity to take advantage of investment opportunities, as well as support running costs.
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Technology Minerals PLC - London-based battery metals and recycling firm - Says Global Battery Metals Ltd has completed phase one drilling at its Knockeen Lithium Pegmatite project in Ireland. Adds that assays confirm and define pegmatite dike swarm within host granites, revealing a ’significant‘ LCT pegmatite system. Says it intersected 24 intervals of lithium-bearing spodumene across all nine drillholes. Notes that it records gradings of Li2O over 1% in five of nine holes. Chief Executive Alex Stanbury says: ’We are pleased to announce the successful confirmation of lithium mineralisation at Knockeen following the inaugural phase of exploration drilling. This milestone underscores our commitment, from the initial stages of surface mapping and sampling, towards realising the full potential of Leinster. Moving forward, we eagerly anticipate advancing the project in collaboration with our partners GBML.‘
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