TRADING UPDATES: Atlantic Lithium accepts Zhejiang Huayou approach
The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Geo Exploration Ltd - oil and gas exploration company focused on Africa, Australia and the Mediterranean - Says the systematic exploration campaign at Gorge Project in Western Australia is scheduled to commence this month with geological reconnaissance to start on or around mid-May. Airborne geophysical surveys are expected to have commenced by the fourth week of May with information allowing to rank priority targets for follow-up geochemistry and maiden drilling campaign. ‘This work is designed to unlock the potential of what the company believes to be a potentially underexplored gold system, with mineralisation already identified over approximately 5km of strike,’ Geo says.
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Active Energy Group PLC - London-based, biomass-focused renewable energy developer - Announces that its subsidiary, Active Mining Group, has entered into a services and facilitation agreement with the Private Office of His Highness Sheikh Mohammed bin Ahmed bin Hamdan bin Mohammed Al Nahyan and Black Road Investment Group and its affiliated companies as a liaison partner. The deal establishes a framework to its continued expansion within the United Arab Emirates’ regulated digital asset mining sector. ‘This agreement is an important step in aligning the key components required to deliver our strategy in the UAE,’ says Chief Executive Paul Elliott.
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Creo Medical Group PLC - Chepstow, Wales-based medical device company - Announces a clinical and commercial update on MicroBlate Fine, its microwave ablation platform, as momentum builds across early US clinical adoption and commercial rollout. Says MicroBlate Fine has now crossed the threshold of 50 clinical cases worldwide across multiple institutions, with particularly strong engagement from leading US interventional endoscopy centres. MicroBlate Fine is being further evaluated through an international investigator?led study across the US, Europe and Asia?Pacific. The study is targeting patients with pancreatic and liver lesions. The first patient was treated in March. Creo expects continued expansion of site adoption through 2026, alongside growing US clinical engagement, supporting both near?term revenue generation and longer?term market penetration in advanced therapeutic endoscopy.
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BWA Group PLC - London-based company focusing on early-stage mining - Says it has engaged SRK Exploration Ltd to conduct a ground magnetometry survey and interpretation at the Aracari gold project. The primary focus is the company’s AOI-1 target and the potential extrapolation of structures associated with the 1.23 million ounces of gold recently reported by Oriole Resources at its Mbe exploration permit. BWA expects to make a further announcement regarding progress made in the second quarter.
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Atlantic Lithium Ltd - Sydney-based lithium exploration company - Accepts $210 million offer from Zhejiang Huayou Cobalt Co Ltd, worth $0.25486 per share. Says the deal with a ‘leading participant in the new energy materials industry’ validates the company’s flagship Ewoyaa Lithium Project and the potential of its exploration tenure within Ghana and Cote d’Ivoire. Calls offer an ‘attractive, certain, and accelerated realisation of value on a risk-adjusted basis versus other strategic alternatives.’ AL’s largest shareholder, Assore International Holdings Ltd, which holds a 26.4% stake, backs the deal. Follows a ‘detailed evaluation of its strategic options.’
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88 Energy Ltd - Australia-based, Alaska-focused oil explorer - Announces that it has secured Nordic?Calista Services Rig-3 to drill the Augusta?1 exploration well, located within the company’s South Prudhoe acreage on Alaska’s North Slope. Execution of the rig contract is a ‘key operational and de-risking milestone’ ahead of 88 Energy drilling its highest-priority target planned for the first quarter of 2027 winter drilling season, it says. 88 Energy is progressing a farmout-led funding strategy, supported by its existing cash position, to enable the drilling of well while retaining material exposure to exploration upside.
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Agronomics Ltd - Ramsey, UK-based investment holding company - Says its portfolio company, Good Dog Food Ltd, trading as Meatly, has completed a £10.4 million Series A funding round. Participants included Clean Growth Fund, Oyster Bay, JamJar Ventures, Jim Mellon and existing investors. The financing follows £7.1 million of seed funding from Agronomics and Pets at Home, bringing total funding raised by Meatly to £17.5 million. The new funding will support development of a 20,000-litre bioreactor facility in London.
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GreenRoc Strategic Materials PLC - Greenland-focused critical mineral project developer - Announces receipt of a notice to exercise warrants over a total of 11.5 shares at an exercise price of 2 pence per share, raising £230,769. In addition, notes that Morrow Batteries ASA in Norway announced a filing for bankruptcy. GreenRoc had previously announced it has signed a non-binding memorandum of understanding with Morrow, however the directors consider that the recent news from Morrow has minimal influence over GreenRoc’s position as a future producer of graphite active anode material.
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Majestic Corporation PLC - recycler of precious and non-ferrous metals from used electronics and batteries - Announces that its new processing facility in Wrexham, Wales, is now operational and processing material. The site is the largest in Majestic’s UK network, marks a step-change in its installed processing capacity and a cornerstone of its objective of increasing annual processed volumes to 100,000 tonnes by 2030. The plant ‘materially’ expands the company’s ability to handle the rising volumes of complex waste streams flowing to its end users.
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