RNS Hotlist: African, AfriTin, Angus, Audioboom, Chaarat, Coro, Cornish, EnSilica, Open Orphan, Powerhouse, Rambler, TM1, URA

Coro Energy (CORO), the South East Asian energy company, delivered a corporate update. The company said as the constraints imposed by COVID are further eased in the region, momentum is building for the Company’s development assets. The opportunities presented by its Italian assets leave it in a “strong” financial position as we look to generate revenues from its “blended” portfolio of gas and renewables assets.

Technology Minerals (TM1), the battery metals specialist, said that the Environment Agency has awarded its 49% owned battery recycling business, Recyclus Group Ltd, an environmental permit for its recycling plant in Wolverhampton, West Midlands.  The company said the EA permit at its Wolverhampton plant will provide the critical legal foundation from which Recyclus can receive the variation of licence required to enable the Wolverhampton site to be fully operational. This variation of licence is required due to the novelty of recycling lithium-ion batteries within the UK.  

Chaarat (CGH), the AIM-quoted gold mining Company, announced the results of the revised JORC compliant Tulkubash Mineral Resource Estimate and Ore Reserves estimate following the 2021 drilling programme. The company said the drilling has delivered a 13% increase in gold in the Ore Reserve to 647koz at a grade of 0.87g/t, adding about a year of production to what was already an economically robust project, while also improving its understanding of this “exciting asset."

African Pioneer (AFP), the exploration and resource development company, said that a shallow diamond drilling programme has commenced on the Ongombo Project, Namibia. The company said it was “delighted” with the early results from its drilling programme, particularly since the core appears to be sulphides close to surface.  The programme has the intention to identify a small open pit and thereafter proceed ex highwall to commence underground mining.

Open Orphan (ORPH), a specialist contract research organisation, said that it will release its full year results for the year ended 31 December 2021 on Tuesday 7 June 2022. ORPH said Yamin 'Mo' Khan, Chief Executive Officer, and Leo Toole, Chief Financial Officer, will be hosting a live online presentation relating to the final results via the Investor Meet Company platform at 6pm on Tuesday 7 June 2022.

Powerhouse Energy Group (PHE), who are commercialising syngas and hydrogen production from non-recyclable waste plastic, unveiled its plan to create a UK based, Global Technology and Innovation Centre (GTIC), which it aims to open in early 2023. The GTIC is designed to “add strength” to building the technology readiness level of technologies and systems PHE has within its offering, so “reinforcing” the company's growth strategy.

Yourgene (YGEN), an international molecular diagnostics group, announces the launch of Yourgene's Accelerator Phase for its Microdeletions1 Plugin, which expands on the clinical menu and capabilities of the IONA® Nx NIPT Workflow offering. This Accelerator Phase follows a successful pilot project with a key partner and IONA® Nx lab customer, LifeStrands Genomics, a clinical and translational genomics group based in Singapore.

EnSilica (ENSI), a designer and supplier of mixed signal ASICs (Application Specific Integrated Circuits), is pleased to announce the admission of its Ordinary Shares to trading on the AIM market of the London Stock Exchange. Dealings commenced at 8.00am today, Tuesday 24 May 2022. Answers on a postcard as to what ASICs actually do.

It would appear that Audioboom’s (BOOM) Chairman enjoys leading from the front. Michael Tobin OBE, non-executive Chairman of the Company, purchased 2,917 shares in the Company at an average price of 1344p. He now holds a 4.3%. Apparently, given that directors of companies do not traditionally buy stock in close proximity to M&A news, it will be interesting to see how this situation pans out given recent speculation in BOOM.

Also leading from the front is Toby Bradbury, CEO of Rambler Metals and Mining (RMM), a copper and gold producer, who has purchased 50,000 shares at a price of 23.5p. Following completion of the share purchase, Toby Bradbury a 0.55% stake.

AfriTin (ATM), an African technology metals mining company, where the clue could be in its EPIC code, announced metallurgical test work results showing the successful production of a petalite lithium concentrate, indicating the potential for a lithium by-product at the Company's flagship polymetallic asset, the Uis Mine.

Cornish Metals (CUSN), a mineral exploration and development company, announce that it has closed the previously announced £40,500,000 unit offering. The company said the completion of the financing allows Cornish Metals to push ahead with the dewatering of the mine and delivery of a Feasibility Study in order to make a production decision for the South Crofty tin project.

URA Holdings (URAH) said that ACA Howe have been commissioned to prepare a Competent Persons Report on the mineral potential, particularly with respect to emeralds, at the Gravelotte Emerald Mine property in South Africa. It is anticipated that this assessment will include the reporting of Mineral Resources and/or Exploration Targets in compliance with the JORC code (2012).

Simec (SAE) said that it has entered an agreement with Energy Optimisation Solutions and Quinbrook Infrastructure Partners via their portfolio company Uskmouth Energy Storage Limited to deliver a 230MW / 460MWh battery energy storage system at the Uskmouth site. The company said this will be one of the largest BESS developments in the UK. The 230MW / 460MWh BESS will help play “a key role” in the UK's energy transition and the integration of more renewable power into the electricity system.

Angus Energy (ANGS) said it has executed a share purchase agreement to acquire the entire issued share capital of the company's current joint venture partner in the Saltfleetby Project, Saltfleetby Energy Limited, which owns a 49% working interest in the Project thereby giving Angus Energy a 100% interest in the Project. The company has arranged a direct subscription of £6m to fund the deal.