RNS Hotlist: All Star, Castillo, Celadon, Cobra, Clontarf, Corcel, Empire, Oriole, Roquefort, Savannah, Thor, Tirupati

Tirupati Graphite (TGR), the specialist graphite and graphene company, updated covering progress across its primary flake graphite operations. In Q4 FY 22 (January to March 2022), the company said it had recorded its highest quarterly shipment and sales of 1,137 metric tonnes at its highest average realisation of $866 per MT. During FY 22, total production was 2,996 MT (FY 21 1,718 MT) and sales were 2662 MT (FY 21 1,857 MT). It rather beggars belief that the TGR share price at 43p is now below where the company listed at 45p, despite all the progress made over the past 18 months.

Celadon Pharmaceuticals (CEL), a UK-based pharmaceutical company, updated on its business and operations, having listed on AIM in March. The company said it has advanced all the necessary preparatory work to be in position for an MHRA inspection and continues the preliminary works for the build-out of its Phase 2 grow facilities. LVL has been experiencing significant levels of new enquiries from those looking to participate in the chronic pain study.  The LVL team is working hard to keep pace with patient onboarding as we continue to advance towards the objective of conducting the UK's only MHRA approved clinical trial exploring the use of medical cannabis for the treatment of chronic pain.

Empire Metals (EEE), the AIM-quoted resource exploration and development company, announced the commencement of the next campaign of reverse circulation drilling at the combined Eclipse-Gindalbie Gold Project in Western Australia. The company said it will focus on the most prospective targets identified to date within the combined Eclipse-Gindalbie project area. The previous drilling at Homeward Bound produced very high grades and it also encountered significant gold mineralisation at depth below the small open pit at Bud's Find and a 3m wide mineralised lode was identified at Laurel. 

Cobra (COBR), a gold, IOCG, and rare earth exploration company focused on the Wudinna Project in South Australia, said that it has been successful in an application for funding through the South Australian Government's Accelerated Discovery Initiative. COBR said the award to Cobra at this stage carries greater significance than the quantum itself - it demonstrates recognition of the company's progress and technical execution of recent work programmes.

Thor Mining (TGR) said that all drilling approvals have been granted on the company's 100% owned Wedding Bell and Radium Mountain Projects, located in the historic uranium-vanadium mining district within the Uravan mineral belt, southwest Colorado, USA. Thor said it now has all permits now in place for its proposed upcoming drilling program, and is encouraged by the extent of mineralisation observed on site.

Corcel (CRCL), the natural resource exploration and development company, updated across its various interests and operations. The company said it is “highly encouraging to see our progress” maturing offtake arrangements for Wowo Gap and Mambare. It looks forward to meeting Cosmos over the summer to take forward these discussions on offtake and working together more broadly.

Savannah Energy (SAV), the British independent energy company, said that Accugas Limited, the company's 80% indirectly owned subsidiary, has commenced gas sales to First Independent Power Limited's Trans Amadi power plant in Port-Harcourt, Nigeria.

Castillo Copper (CCZ), a base metal explorer, has granted London-based Hyperion Copper a 12-month option to acquire 100%-owned subsidiary, Zed Copper, which owns four projects in Zambia's copper-belt - including the prime Luanshya and Mkushi Projects1,2 for a total consideration of £3.75m in a “value creating” transaction.

All Star Minerals (ASMO), a mining investing company, has raised £200,000 through the issue of 1m new shares at a price of 0.02 pence per share. The company also announces appointment of Monecor (London) Ltd, trading as OvalX, as its Broker. The net proceeds of the Placing will be used for general working capital purposes and to fund investment into the Blesberg Lithium and Tantalum Project and the Nkombwa Hill Tantalum, Rare Earth Elements and Phosphate Project.

Clontarf Energy (CLON), the oil and gas exploration company, which recently somewhat pulled the rug from under its proponents, announced its preliminary results for the year ending 31 December 2021. The company said it is now evaluating further Australian prospects, in addition to the deeper prospects on WG-519-P.  These include additional offshore prospects acquired by its partners Western Gas from the original Hess portfolio (on which Hess had invested circa $1.5 billion).

Roquefort Therapeutics (ROQ), the Main Market listed biotech company, has entered into a conditional share sale and purchase agreement with the shareholders of Oncogeni Limited, a UK biotech company developing novel patented cancer medicines. Roquefort Therapeutics has agreed to acquire the entire issued share capital of Oncogeni Limited by the issue of 50,000,000 new ordinary shares in the company.

Oriole Resources (ORR), the AIM-quoted exploration company focussed on West Africa, updated on the Muratdere copper-molybdenum porphyry development project in Turkey. The company has a 1.2% post-tax net smelter return royalty in the Project, which is operated by Lodos Maden Yatırım Sanayii ve Ticaret A.Ş., a wholly-owned mining investment company of Istanbul-quoted investment company Pragma Finansal Danışmanlık Ticaret A.Ş. The company said it commends Lodos' "tenacity and professionalism" in working alongside more than a dozen governmental departments to reach this point of EIA resubmission. It anticipates a positive outcome, and a subsequent move towards the mine development stage, later this year.