EARNINGS AND TRADING: Asia Strategic Holdings revenue declines
The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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London BTC Co Ltd - bitcoin miner with operations in the US and Canada - Wholly-owned US subsidiary Tethered Gold LLC stakes 111 mineral claims covering 2,293 acres at the Huntington-Whitman Gold-Silver Project in Humboldt County, Nevada. ‘The staking of this exciting gold project in the heart of Nevada’s premier gold province marks the company’s first project under the company’s previously announced US gold hedging strategy and the first cornerstone of a planned gold portfolio expansion in the USA,’ company says. Key next steps include modern surface sampling across all historical workings in the project area, compilation of geoscientific data to develop an understanding of local structural setting, and progressing permitting work to advance towards active drilling. Says further project staking in Nevada and Arizona is actively progressing through its technical adviser Schiehallion Consulting. ‘This is an extraordinary project for us, that sits amongst some incredibly large gold mines in the heart of Nevada’s gold production.’ says Chair David Lenigas. ‘I see this project as adding significant value towards our gold hedge in short order and I am hoping to have further updates in the coming weeks.’
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capAI PLC - company focused on artificial intelligence systems for media and medicine - Announce public availability of its Movie42 and Gamers42 beta applications, as well as ‘significant enhancements’ to Author42. Chair Ronjon Nag says: ‘Over the past year we have focused on building a portfolio of AI-powered content creation platforms. With Author42 operational and Movie42 and Gamers42 now publicly available in beta, we are entering the next phase of development focused on user acquisition, commercial evaluation, and monetisation. We believe these technologies have the potential to help creators extend a single intellectual property asset across written, visual and interactive formats while opening up new opportunities for audience engagement. We look forward to demonstrating these capabilities during our webinar on 12 June.’
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Andrada Mining Ltd - tin producer targeting Namibia - Announce the third batch of results for an additional six holes of diamond drilling at Lithium Ridge Project. ‘The additional six holes show the presence of consistent high-grade lithium mineralisation from surface. Following the completion of drilling, the exploration team continues to prioritise logging and sampling activities to expedite sample delivery,’ company says. Highlights include: hold LRD027, which recorded 9.05 metres at 2.28% lithium oxide from 50.82m to 59.87m, including 3.97m at 3.46% lithium oxide from 51.82m to 55.79m; and hole LRD023, which records 9.64m at 1.24% lithium oxide from 50.36m to 60.00m, including 5.11m at 1.89% lithium oxide from 53.58m to 58.69m. Chief Executive Officer Anthony Viljoen comments: ‘Having strategically expanded our drilling footprint to fast-track the definition of the geological system’s true boundary and economic value, these results further endorse our course of action. The additional presence of significant associated tin and tantalum mineralisation adds a highly attractive multi-commodity dimension to the potential project economic profile. Lithium Ridge is rapidly establishing itself as a standout, project within Andrada’s critical minerals portfolio in Namibia.’
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Rockfire Resources PLC - London-based mining firm targets metals and critical minerals, with assets in Australia as well as Greece - Provides drilling update at its 100%-owned Molaoi zinc deposit in Greece. Diamond drilling is underway to upgrade the deposit’s inferred resource to indicated resource status. Hole HMO-019 drilling is currently in progress. Results from hole HMO-016 include: 0.76m at 22.4% zinc, 187 grams per ton gold, 8.8% lead and 34.6 g/t germanium at 314.18m downhole depth; 1.08m at 8.2% zinc, 42.5 g/t gold, 1.6% lead and 22 g/t germanium from 407.11m downhole depth; 4.5m at 3.0% zinc, 20.7 g/t gold, 0.9% lead and 20 g/t germanium from 417.95m downhole depth. Rockfire is awaiting lab results for drill holes HMO-017 and HMO-018. Additionally, x-ray fluorescence readings from hole HMO-018 include: peak individual values of 47.2% and 46.5% zinc; peak individual readings up to 5.3% lead; peak individual silver values including 168 g/t gold and 121g/t gold; and a highest individual copper 0.76%. CEO David Price says: ‘Strong analytical results from hole HMO-016, together with high grade pXRF results from holes HMO-017 and HMO-018 continue to build the case for a successful upgrade to the indicated category.’
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Asia Strategic Holdings Ltd - London-based developer and operator of consumer businesses in emerging Asia - First half revenue falls to $13.1 million from $16.0 million a year prior. Pretax loss narrows to $2.2 million from $3.6 million. Does not recommend a dividend as it ‘needs to conserve cash for working capital and future expansion.’ Looking ahead, emphasises its ‘disciplined asset-light approach to capital, with the existing businesses financing growth through organic cash flow generation.’ Says turning around Wall Street English Vietnam remains a top priority, with efforts focused on ‘operational maturity, cost rightsizing, and commercial recalibration.’ Notes newer brands in Myanmar ‘have already established market-leading positions and are well positioned for continued expansion, with two schools under construction and three more in the pipeline.’
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First Development Resources PLC - explorer for critical minerals and rare-earth elements in Western Australia and Northern Territory - Wholly owned subsidiary URE Metals Pty Ltd is selected as a successful recipient under Round 19 of the Northern Territory Government’s Geophysics and Drilling Collaborations Programme. As such it is awarded A$100,000 to support the phase I reverse circulation drilling programme at the Lander West Gold Target, part of the company’s flagship Selta Project in the Northern Territory, Australia. Plans to begin maiden drilling programme in July. CEO Tristan Pottas says: ‘We are delighted to have been selected as a successful recipient under the Northern Territory Government’s Round 19 Geophysics and Drilling Collaborations Programme. The award provides independent validation of the technical work completed to date and highlights the prospectivity of the Lander West Gold Target. Over the past seven months, the company has adopted a systematic and methodical approach to advancing Lander West from an initial concept to a drill-ready opportunity. The support provided by the Northern Territory Government and the Northern Territory Geological Survey represents an important endorsement of both the quality of our technical work and the potential of the project.’
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Imaging Biometrics Ltd - medical imaging technology company - Publishes results from its phase 1 clinical trial NCT04319276 of oral gallium maltolate in patients with recurrent or treatment-refractory glioblastoma. This marks the first in-human study results of GaM for glioblastoma. Data shows oral GaM to be well tolerated and preliminary signals of survival benefit. Imaging Biometrics says this supports further clinical development in phase 2. Amongst 22 patients evaluable for tumour response, median overall survival is 16 months and median progression-free survival 2.5 months. Notes median overall survival compares favourably with the range of 5.5 to 12.6 months reported in a published meta-analysis of treatments for recurrent GBM. 13 of 22 patients achieve a survival of greater than 12 months. One patient achieves a partial response and remains on treatment after more than 38 months.
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Rome Resources PLC - mineral explorer with tin project in Democratic Republic of the Congo - Field programme at the New Brunswick tin-tungsten-indium project in Eastern Canada to commence this week. Expects to incur a maximum of C$150,000 in costs in relation to the programme, following which it will assess its position regarding the exercise of its option to acquire working interests in early-stage exploration licences across 109 square-kilometres of mining claims in the Canadian Province of New Brunswick, close to the Mount Pleasant deposit, hosting the Three Lakes and Schoullar Mountain Projects.
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Thalia Therapeutics PLC - biotechnology company developing innovative RNA therapeutics - Shares new article, ’RNA medicine enters its second act’, in European Biotechnology Magazine’s RNA Therapeutics Special. ‘The RNA therapeutics market continues to gather momentum, presenting significant opportunities for innovation and value creation,’ Thalia says. The article discusses its strategic focus on RNA therapeutics, the potential for new RNA modalities including microRNAs and the opportunity to address new therapeutic areas such as cardiovascular disease and oncology.
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Mkango Resources Ltd - Vancouver-based mining company - Wholly-owned subsidiary, Mkango Rare Earths Ltd, formerly Lancaster Exploration Ltd, files an amended registration statement on Form F?4 with the US regulator in connection with its previously disclosed proposed business combination contemplated by MKAR, certain other wholly-owned direct and indirect subsidiaries of Mkango, and Crown PropTech Acquisitions. The amended form includes a preliminary proxy statement for the meeting of CPTK shareholders and a preliminary prospectus relating to MKAR’s common shares and warrants. ‘The filing...marks an important milestone toward the expected completion of the proposed business combination. Subject to the completion of the SEC review process and satisfaction of customary closing conditions, including approval by the shareholders of CPTK, MKAR’s common shares and warrants are expected to be listed on the Nasdaq Stock Market under the symbols ’MKAR’ and ’MKARW’, respectively, upon the closing of the transaction.’ company says.
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