TRADING UPDATES: Fulcrum amends Terra option; Galantas expands drilling
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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Hercules PLC - Cirencester, England-based labour supply company for the UK infrastructure and construction sectors - Successfully implements its new Pay and Bill platform across the business. "The platform provides a modern, scalable operating foundation for the business and is expected to deliver a range of operational benefits over time. These include greater automation of core processes, stronger operational and financial controls, improved management information and a more scalable operating model capable of supporting future growth," Hercules comments. Says implementation represents "completion of a critical deliverable in the company's business transformation programme," adding it "continues to make good progress with the implementation of its enterprise resource planning platform, which represents the final phase of its transformation programme."
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Aurrigo International PLC - Coventry, England-based transport technology provider - Is awarded £1.43 million in grant funding from the UK Government to investigate "how autonomous vehicles can be used to make airports safer." The company will use the grant to deploy its Auto-Shuttle vehicles to complete routine tasks including performing security patrols and perimeter inspections, as well as reviewing runway and taxiway surfaces for cracks, wear or loose objects that can damage aircraft. The grant forms part of the UK Government's £150 million CAM Pathfinder programme. CEO David Keene says: "This grant funding reflects the quality of our autonomous vehicle technology and our commitment to building the next generation of intelligent, sustainable, and scalable transport systems. The project aims to free-up experienced airport staff for the work that genuinely needs human judgement and gives airports a practical way to raise their safety standards."
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Tertiary Minerals PLC - mineral development firm with projects in Zambia, the US state of Nevada, and Sweden - Completes phase 4 drill programme at Target A1 at its Mushima North Project in Zambia. Mushima North is located in the prospective iron-oxide-copper-gold region of Zambia. Target A1 is a polymetallic, silver-copper-zinc prospect 28 killometres to the east of the historic Kalengwa copper-silver mine, currently under redevelopment. Says preliminary internal analysis using a portable xr-ray fluorescence analyser "continues to not only support the current extent of the oxide mineralisation contained within the exploration target, and in places to potentially extend this, but also the presence of a higher-grade silver and copper zone within the core." Tertiary's near surface exploration target at the site is 15-30 million tonnes at 40-60 grammes per tonne silver equivalent and the presence of a higher-grade mineralised zone. "The potential extent and tenor of silver mineralisation is not yet being reported as the pXRF results for silver are not sufficiently reliable to indicate average grades over known mineralised extents," company notes. "With the drilling now completed we eagerly await the remaining pXRF results and the first certified laboratory results. We will also proceed with our initial metallurgical testwork as we aim to announce a JORC mineral resource estimate before the end of the year," adds Managing Director Richard Belcher.
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Galantas Gold Corp - mining and exploration company, focused on producing gold and copper from its assets in Northern Ireland and Chile - Updates on its ongoing exploration program at the Indiana gold-copper project near Copiapo, Chile. Glantas has drilled 5,060 metres of a planned 5,000-metre programme to date. "For the first time at Indiana, disseminated sulphide mineralization, including molybdenite, has been recognized in drill core. The significance of this disseminated mineralization is being assessed, as is the significance of the hypogene (primary) chalcocite and bornite associated with intense alteration. Surface exploration has identified new targets in a large land package of approximately 8 km by 10 km within a major IOCG belt which we expect will merit drill testing," says Chief Executive Mario Stifano. Galantas has expanded the drill program to 12,500 metres, to be funded from the its current cash position, due to "potential disseminated style mineralization and the resulting potential exploration targets. Notes "very few" assays have been received due to a back-up in the lab electircity loss due to recent flooding.
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Xtract Resources PLC - London-based diversified metals and minerals producer - Update on development activities at its Amghas antimony project in north-west Morocco. Appoints a local mining contractor and a local civil works contractor to advance site preparation, mine access and infrastructure works ahead of the delivery, construction and commissioning of a planned 70,000 tonnes per annum gravity processing plant for run-of-mine material. Chair Colin Bird calls the appointment "a important step" on the peth towards initial production at Amghas, where Xtract is "pleased with the progress being made". "We believe the company is well positioned to advance the project towards commissioning of the gravity plant on receipt of the environmental licence, which has been applied for, to unlock value from this strategically relevant antimony asset in Morocco," Bird adds.
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ECR Minerals PLC - Australia-focused gold exploration and development company - Conditionally raises £636,250 gross by way of a placing with existing shareholders and other investors of 363.6 million new ordinary shares at an issue price of 0.175 pence each. Proceeds will advance ECR's 50%-held Maddens gold project in Northern Queensland.
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ImmuPharma PLC - London-based specialist drug discovery and development company - Selects Kymos Germany/Prolytic as bioanalytical contract research organisation partner for its Kapiglucagon program. "Kymos Group will support the development and validation of regulated bioanalytical methods for Kapiglucagon, including subsequent analysis of samples generated during the nonclinical and Phase 1 clinical programmes," company says, calling the selection "a further important milestone in the progression of Kapiglucagon".
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H-Power PLC - Cranleigh, England-based provider of hydrogen power-generation technologies - Announces successful completion of the first phase of its joint development agreement programme, with Komatsu Ltd. The companies are working to design and integrate H-Power's proprietary ammonia cracking technology with a Komatsu industrial internal combustion diesel engine, aiming to assess the feasibility of a new ammonia fuelled engine platform capable of scaled production. The final phase of the agreement, to deliver the build out and demonstration of thed ammonia cracker, is scheduled for September 2026 through December 2027. "Successful operational delivery under the JDA would potentially provide Komatsu customers with an alternative, sustainable solution for their fleets of construction and mining plant equipment, thereby introducing H-Power's technology into a further business vertical with a significant addressable market," company says. The previously announced contract value is around USD2 million. CEO John Wilson comments: "We are delighted to enter into the final phase of this agreement with Komatsu, which further strengthens our partnership and validates the inherent value of our proprietary ammonia cracking technology to global players through helping heavy industry to decarbonise its operations and fleets of equipment."
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Fulcrum Metals PLC - mineral explorer in Canada - Completes a second amendment to its purchase option agreement with Terra Balcanica Resources Corp and Terra North Resources Corp relating to the option to acquire a 100% interest in Fulcrum's Saskatchewan uranium portfolio. Under the amendment, Terra North will issue 5.6 million shares to Fulcrum's Canadian subsidiary at CAD0.10 per share, or CAD560,000 in total, in accordance with the share consideration due to Fulcrum under the terms of the Saskatchewan option. Additionally, the CAD75,000 cash payment due on the second anniversary has been deferred to the earlier of: the new anniversary date following Terra North's completion of a going-public transaction and October 31 2026. Following the share issuance, Fulcrum retains potential consideration of CAD225,000 in cash and CAD1.9 million in Terra North shares, alongside a minimum cumulative exploration expenditure commitment of CAD3.25 million. Fulcrum will retain a 1% net smelter return royalty on the properties if Terra North exercises the Saskatchewan option.
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Cadence Minerals PLC - London-based mining services company - Says refurbishment of the Azteca processing plant at its Amapa Iron Ore Project has progressed to 87% from 77% weighted physical completion since July 27. "The programme continues to target operational readiness by the end of August 2026. Commercial operations and shipments remain subject to successful commissioning and receipt of the operating licence," company says.
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