RNS Hotlist: Amigo, Condor, Hydrogen Utopia, Neometals, Powerhouse, President, Pure Gold, Sabien, SolGold, UKOG

Hydrogen Utopia International (HUI), a company pioneering non-recyclable waste plastics to hydrogen technology, confirmed that it has been in discussions with Powerhouse Energy (PHE) on a project opportunity in The Republic of Ireland. HUI said it has been exploring the possibilities in the region since November 2021and is searching for a JV partner to develop a first of a kind waste to hydrogen facility. There is currently no agreement in place and the PHE Board is considering the proposal and how it may become involved in the potential project, which is at a very early stage.

Pure Gold Mining (PUR) announced that its lending partner, Sprott Private Resource Lending II has agreed to extend the period wherein it will waive any existing defaults to May 23, 2022. The details of the Waiver Period and other terms of the Company's agreement with Sprott are included in the company's press release dated April 22, 2022.

Sabien Technology Group (SNT), a company focused on a Green Aggregation Strategy, said it welcomes the UK and Welsh Governments' announcement of co-operation in and £26m funding for the creation of a Welsh Freeport. b.grn Group Ltd, in which Sabien is a 33.3% shareholder, has been working actively to secure a site on Anglesey on which to locate its waste-to-plastic operations.

Neometals (NMT) said that Primobius GmbH, the incorporated JV company owned 50:50 by Neometals and SMS group GmbH, has executed a conditional, binding agreement with LICULAR GmbH. LICULAR is a wholly-owned subsidiary of Mercedes-Benz AG, founded specifically to develop a holistic and sustainable recycling approach for lithium-ion batteries, so something of a wow factor in the RNS.

UK Oil & Gas (UKOG) announced that the North Sea Transition Authority has granted a one-year extension to the agreed Retention Area work programme of the Company's operated PEDL137 licence (UKOG 85.635%) containing the producing Horse Hill oil field and its underlying Kimmeridge oil pool. The extension grants an additional year in which to drill a second Horse Hill Kimmeridge well, with the commencement of drilling to be prior to 30th September 2023.

SolGold (SOLG) revealed a quarterly update longer than War and Peace. Fortunately, it was not an annual update. The company said the PFS confirms the Cascabel project’s world class, Tier 1 potential. Once constructed, Cascabel is expected to be a top 20 South American copper & gold mine. The mine is expected to produce a clean copper-gold-silver concentrate. The estimated $5.2bn pre-tax Net Present Value and 25.3% Internal Rate of Return. There is an estimated $2.9bn after-tax NPV, 19.3% IRR and 4.7-year payback period from start of processing.

Condor Gold (CNR) revealed its unaudited financial results for the three months ending 31 March 2022 and the Management's Discussion and Analysis for the same period. The company said that during the first quarter, it continued to make significant progress on advancing the Feasibility Study for the La India open pit and associated mine site infrastructure . All technical studies undertaken at the Project level are complete.

President Energy (PPC), the international energy company announced key highlights from the independently reviewed Q1 2022 results from Argentina. The company said recent progress in Salta is encouraging with new wells coming on line step by step. The mission is now to exploit the enlarged well stock including opportunistic workovers as appropriate, commencing the secondary recovery capex programme and managing and optimising production and opex.

Amigo Holdings (AMGO), a provider of guarantor loans in the UK, provides an update in relation to the Schemes of Arrangement. The company said its customers have voted in favour of the New Business Scheme. However, this still needs to be sanctioned by the Court, and a significantly dilutive equity issue is needed to fund the Scheme and to recapitalise the ongoing business given the requirements of the Schemes for the transfer of virtually all existing assets to the redress creditors.