RNS Hotlist: Agronomics, Chaarat, ECR, Kore, Nanosynth, Neometals, Petropavlovsk, Pires, Pure Gold, Strategic, Zinc
ECR Minerals (ECR), the gold exploration and development company, updated on drilling at HR3 including the highest grade Gold intercept yet below the soil anomaly drilled by hole BH3DD027. The company said a significant amount of work has gone into the drilling programme at HR3, and it has seen encouraging and consistent gold grades in the assay results to date.
Chaarat (CGH), the AIM-quoted gold mining company, said that it will post its 2022 notice of annual general meeting and annual report and financial statements for the year ended 31 December 2021 later today.
Kore Potash (KP2), the potash development company, provided a quarterly update for the period ended 31 March 2022. The company said progress towards financing its Kola Project is “exciting” and it looks forward to receiving the financing proposal later this year.
Agronomics (ANIC), the cellular agriculture specialist, said that its unaudited Net Asset Valuation calculation as at closing on 31 March 2022 was 15.11p, including uninvested cash of £53.8 million. Net Assets stand at £141.8 million, including investments of £89.2 million. This quarter's NAV per share represents an increase of 5.5% from the previous quarter's NAV of 14.32 pence per share. The share price closed at 21p yesterday.
Neometals (NMT) said that Primobius GmbH, the JV company owned 50:50 by Neometals and SMS group GmbH, has received its 'BlmSchG' operating permit for its 10tpd commercial lithium-ion battery recycling facility in Hilchenbach, Germany. Primobius is receiving and storing EV battery modules from its disposal service customer ahead of the commencement of commercial operations in mid-May.
Petropavlovsk (POG) issued its sales and production results and corporate update for the quarter ending 31 March 2022. The company said it had achieved its production targets in the first quarter of this year, with higher output from Pioneer, aided by its new flotation plant, and 3rd-party concentrate offsetting expected lower production at Albyn and Malomir due to lower grades. Despite the conflict in Ukraine and related sanctions that have led to “various challenges” at the corporate level, its mines operated without disruption throughout the period.
Zinc Media (ZIN) announced its audited results for the year ended 31 December 2021. Revenues for the year to 31 December 2021 were of £17.5m (18 months ended 31 December 2020: £30.6m), with H2 2021 revenues increasing by 50% to £10.5m (H1 2021: £7.0m). The company said it is “very encouraged” by the Group's performance this year which positions it well for sustained growth and profitability in the years ahead.
Strategic Minerals (SML), a mineral company, updated on the company's cash position and ore sales at the Cobre magnetite operation in New Mexico, USA for the quarter ended 31 March 2022. The company said the resumption of demand from the largest Cobre client combined with the long-awaited formal extension of access for five years, has placed it on a solid cash flow footing for the years ahead.
Pires Investments (PIRI), the investment company, has received notification for the exercise of warrant over 2,500,000 shares at an exercise price of 4p providing it with proceeds of £100,000.
It would appear that silence has been golden for nanosynth (NNN), the AIM quoted company, as it noted the recent enquiries from its shareholders and wished to confirm that as stated in the announcement on 10 February 2022, the company intends to grow by acquisition. The Board said it continues to progress this strategy and, at the appropriate time, a further announcement will be made.
Pure Gold Mining (PUR) said it has entered into an agreement with its lending partner, Sprott Private Resource Lending II (Collector) in which Sprott has conditionally agreed to provide to PureGold an additional, secured, first-priority, non-revolving credit facility up to a maximum principal amount of $6 million and waive any existing defaults under the Credit Agreement, Stream Purchase Agreement, and Production Payment Agreement for a period of time ending no later than May 15, 2022.
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