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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Marble Point Loan Financing Ltd - investment company focused on dollar-denominated, broadly syndicated floating rate senior secured corporate loans - In the three months to March 31 reports net investment income of $1.3 million, rising from $1.1 million. Total investment income increases to $2.6 million from $2.3 million.
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Rockfire Resources PLC - Greece and Australia-focused gold, base metal and critical mineral exploration company - Provides update of exploration activities at its 100%-owned Molaoi zinc deposit in Greece. Says digital terrain model topographic, ortho-mosaic photographic, light detection and ranging and portable X-ray florescence surveys in progress. Notes a resource consultant has identified a minimum of 12 parallel zinc lodes with an updated resource estimation in progress.
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Cobra Resources PLC - rare earth minerals miner - Announces further re-assay results from the Yarranna southeast prospect. Re-assaying of 25 holes and 674 samples validates historical reports of uranium mineralisation and has enabled Cobra to refine and interpret mineralised roll-fronts, defining priority drill targets for high-grade uranium mineralisation and ionic rare earths, company says. These re-assay results are an important step in the company’s pathway to refining scalable ionic REE targets while simultaneously advancing non-core assets. Chief Executive Rupert Verco says: ‘These results re-affirm that Cobra has a province scale ionic rare earth system that is different to other projects, owing to its potential to be mined through a materially lower cost process - in situ recovery.’
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Coro Energy PLC - South East Asian energy company with a natural gas and clean energy portfolio - Has identified an intended additional director for appointment to Coro board. This process is progressing well and is expected to be completed prior to July 5. However, with the board not being quorate, the annual report and accounts for 2023 will not now be published by June 30. As a result, shares will be suspended from July 1.
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Panthera Resources PLC - gold exploration and development company owning multiple assets across West Africa and India - Says the Government of Rajasthan has announced the preferred bidder for a mining lease for the Bhukiya-Jagpura block. Notes in order for the preferred bidder to be considered the successful bidder and qualify for the grant of a mining lease, an upfront payment and performance security must be provided by the preferred bidder. These total $120 million. Panthera believes that the mineral resource potential of Bhukia significantly exceeds that reported by the Geological Survey of India.
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AFC Energy PLC - Cranleigh, England-based provider of hydrogen power generation technologies - Says Chief Technology Officer of the Fuel Conversion division Mike Rendall on Wednesday presents to the MariNH3’s 2024 conference. AFC says the presentation will highlight the positive results achieved to date through adoption of its novel ammonia cracker technology to improve the combustion and emissions of future ammonia fuelled maritime engines.
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Sovereign Metals Ltd - mining exploration and development company with assets in Malawi - Signs memorandum of understanding with The Palladium Group, a US-based development entity implementing several development projects in Malawi. Sovereign and Palladium will collaborate around Sovereign’s Kasiya project to provide key agricultural inputs, training, technologies, and financing to develop and integrate smallholder farmers into the emerging high growth agriculture value chains. A central pillar of the MoU and partnership is Sovereign’s existing conservation farming programme, which aims to promote tried and tested improved small-scale agricultural practices, and the creation of community support and mentorship networks.
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Thor Explorations Ltd - West Africa-focused mineral exploration company - Announces the first set of drilling results from its 2024 drilling programme at the Douta gold project in Senegal. Notes drill-intersections of significant gold mineralisation are from the Makosa East prospect where the programme commenced. The Douta gold project encompasses the Makosa gold deposit which currently comprises a total resource of around 1.78 million ounces of gold. President & Chief Executive Segun Lawson says: ‘We are pleased to announce new significant drilling results from the Makosa East Prospect which forms an important component of the larger Douta resource. These results will help us in achieving the main purpose of the 2024 drilling programme, which has been to increase the oxide component of the resource.’
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Ananda Developments PLC - London-based pharmaceutical firm, which is developing cannabinoid-based medicines for chronic pain conditions - Shares results from recent preclinical studies investigating the efficacy of MRX1 in treating cardiac fibrosis and heart failure with preserved ejection fraction. Says administration of MRX1 has shown significant cardioprotective effects in a mouse study, demonstrating its potential as a treatment for patients with heart failure with preserved ejection fraction. The research has been conducted at Robert Gordon University. The successful outcomes suggest MRX1 could be a valuable therapeutic option for HFpEF and other cardiac conditions and Ananda is currently investigating next steps on how to bring this treatment to clinical use.
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Avacta Group PLC - Wetherby, West Yorkshire-based life sciences company developing cancer treatments and diagnostics - Provides business update ahead of Wednesday’s annual general meeting. Confirms that Arm 2 of the phase 1 trial for AVA6000, a peptide drug conjugate form of doxorubicin chemotherapy, has successfully completed its second cohort without dose limiting toxicities observed. Patients are now being dosed in the third cohort. This puts Avacta on track to achieve its stated clinical objectives for the second half of 2024. To support the progress of this trial, Avacta has appointed a scientific advisory board of senior cancer experts and researchers.
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