TRADING UPDATES: Fulcrum pilot plant partnership; BWA survey results
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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Premier African Minerals Ltd - developer of the RHA tungsten and Zulu lithium projects in Zimbabwe - Updates on the progress of operations at its Zulu Lithium and Tantalum Project. Says preliminary analysis confirms the presence of spodumene within the concentrate produced to date. ‘Whilst concentrate grades achieved to date remain below target levels, the company has observed a progressive improvement in concentrate quality as commissioning and initial optimisation activities continue,’ Premier says, noting that it is ‘normal during the early stages of flotation plant commissioning for concentrate grades to be below target specification as operating parameters are refined and the circuit stabilises.’ Commissioning and optimisation are ongoing. Says it is ‘very encouraged’ by the initial plant performance.
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Blackbird PLC - London-based video editing software for media and entertainment industry - Ahead of the annual general meeting, Chair Ian McDonough says the company is focusing its ideal customer profile on business and marketing teams ‘to build on elevate.io’s competitive advantages.’ Says ‘resources will be allocated’ to attract such customers. Notes early testing with this audience indicates that they ‘resonate with workflow focused messaging.’ Chair McDonough adds: ‘The company’s board believe that there is a huge market opportunity out there that elevate.io is well positioned to target. On behalf of the board, I would like to thank the team for all their hard work over the last year and our shareholders for their support.’
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Fulcrum Metals PLC - mineral explorer in Canada - Subsidiary Fulcrum EnviroTech Corp signs a contract with Test Design Implement Solutions LLC for the deployment and operation of a standalone pilot plant in Ontario. The pilot plant will utilise Extrakt Process Solutions’ cyanide-free leach technology to process material from Fulcrum’s Teck-Hughes project, and provide the capability to evaluate additional third-party mine waste materials. The programme is supported by Bechtel Energy Technologies & Solutions Inc, which has a long-term alliance agreement with Extrakt. Says the partnership extends beyond the Teck-Hughes and Sylvanite projects. ‘Fulcrum holds exclusive rights to deploy Extrakt’s proven cyanide-free technology across legacy gold mine waste sites within the Timmins and Kirkland Lake mining districts of Ontario. These two world-class gold camps have collectively produced more than 110 million ounces of gold over the past century and are estimated to contain more than 70 documented legacy mine waste sites, providing a significant pipeline of potential future reclamation and metal recovery opportunities,’ company adds.
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BWA Group PLC - London-based company focusing on early-stage mining - Releases results from the Aracari Gold Project ground magnetic survey. The fieldwork focused on an area of the Bandjoukri Ouest exploration permit to the west of the Benue River specifically the AOI-01 target, and strike extensions from Oriole Resources PLC’s Mbe exploration permit, which hosts an announced Inferred mineral resource estimate of 1.23 million ounces of gold, with a weighted average grade of 1.08 grammes per tonne. Says this latest dataset ‘provides a vast improvement in sensitivity and spatial resolution over the regional airborne magnetic survey’. Initial interpretation shows major regional thrust and strike-slip faults, as well as possible second order structures ‘more favourable for gold deposit formation.’ Says the magnetic data correlates with new geological mapping completed over the AOI-01 target, delineating granites, schists, and a wide mylonitised zone in between marking intense deformation along the Poli Thrust System. Additionally, artisanal gold mining sites have been identified in the granite and mylonite zones, with numerous quartz veins mapped in the schists having been sampled. Calls the presence of sulphides associated with the veins ‘promising for a hydrothermal system carrying gold.’
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Amigo Resources PLC - targets gold and rare earth minerals in Africa, specifically Tanzania and Mauritania - Announces ‘highly encouraging’ results from its geochemical exploration programme at the Kabete Project in the Kilindi-Handeni District of Tanzania. Analysis confirms the presence of a robust, multi-style gold system, while also identifying emerging potential for platinum group metals and rare earth elements. Amigo continues to seek a possible reverse transaction, which it says is ‘likely’ to be within the mining sector. Amigo has identified multiple coherent gold anomalies across Kabete, with the Kwamsambia-Negero corridor now a Tier-1 drill target. Records peak gold-in-soil value of 1,030 parts per billion, which it calls ‘exceptional for residual soil sampling and strongly indicates proximal bedrock mineralisation.’ Further, analysis establishes a background gold median of 15 ppb, with a mean of 38.7 ppb, confirming a strongly anomalous terrane typical of orogenic-gold systems. Amigo notes PGM potential with elevated nickel, chromium, cobalt, and vanadium anomalies identified. Says this is ‘consistent with mafic-ultramafic lithologies that are globally recognised as favourable hosts for platinum group elements.’ Also notes REE potential with discrete lanthanum, thorium, and uranium anomalies providing ‘early indications of potential rare earth element enrichment within the licence area.’
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ECR Minerals PLC - Australia-focused gold exploration and development company - Provides operational update on activities at its Raglan Gold Project in Queensland, Australia. Says several initiatives completed in recent weeks ‘gives it confidence that more consistent gold production and recovery outcomes can be achieved from the project.’ These include a drone light detection and ranging survey which it says has the potential to ‘significantly improve ECR’s understanding of historical drainage systems, palaeochannels and mining targets across the project area.’ Expects the data to assist future mine planning, identify additional mining opportunities and support production scheduling activities. ‘Mining operations to date have already identified areas with potentially higher gold grades, specifically gullies into the main stream which can act as traps for alluvial gold. The survey therefore forms an important component of the Company’s ongoing efforts to optimise mining operations and maximise the broader potential of the Raglan Project,’ ECR adds.
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Medpal AI PLC - London-based digital health and AI company - Begins digital marketing campaign for its weight management clinic, New Health, which operates at new.co.uk. CEO Jason Drummond says: ‘The scale of patient demand for GLP-1 therapy is one of the defining healthcare trends of this decade, and the data emerging from the US oral launch underlines how much of that demand is coming from people new to the treatment. We are investing now to build new.co.uk into a recognised UK brand in weight management, so that MedPal is well positioned to serve patients across both injectable and, in due course and subject to regulatory approval, oral therapies. Our pharmacy dispensing infrastructure is a genuine differentiator as this market matures.’
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Portmeirion Group PLC - Stoke-on-Trent, England-based ceramics maker and retailer of homeware brands - Raises £1.6 million gross through the issue of 3.1 million retail offer shares to existing shareholders at 50 pence per share. Together with the recently completed placing, Portmeirion has raised £18.6 million. Chair Peter Tracey says: ‘This capital will enable us to take a major leap forward towards achieving our fortress balance sheet objective. We expect additional self-help initiatives that we have already announced will strengthen our financial position further over the next 12 months.’
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CleanTech Lithium PLC - Chile-focused lithium explorer - WRAP retail offer conditionally raises £603,830 gross in addition to the £4.8 million raised through its placing announced on Friday. CEO Ignacio Mehech says: ‘I would like to extend my thanks to retail investors who, alongside institutional investors, have supported CleanTech Lithium as we progress our flagship project Laguna Verde in Chile. This fundraising and the associated conversion of loan notes, in my view, reflect encouraging confidence in our long-term plan to develop lithium projects of high quality.’
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Marula Mining PLC - London-based Africa-focused mining and development company - Delivery and sale of copper production from Kinusi to Traxys Europe SA is now expected in late June or early July, delayed from May previously. ‘This adjustment follows a period of infrastructure upgrades, asset deployment on-site, annual licence fee payments and work commencing on the proposed submission of a new environmental impact assessment application.’ Additionally, subsidiary Muchai Mining Kenya Ltd postpones the purchase order for an initial trial shipment of 500 tonnes of processed manganese ore with Jindal Pelletising LLC. This is due to the Middle East conflict. ‘Following the commencement of sales, the Company intends to expand it mining and processing operations at the Kilifi Manganese Processing Operations and surrounding areas. Additionally, as announced on May 1, the company will be advancing its work with JKUAT under a five-year collaborative research and academic agreement where work has already commenced on the production of high purity manganese sulphate monohydrate,’ company says.
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