RNS Hotlist: Berkeley, Europa, Hummingbird, MGC, Ormonde, Poolbeg, Sovereign, Thor, Tirupati
Tirupati Graphite (TGR) provided an update to its agreement to acquire the entire issued share capital of Suni Resources SA from Battery Minerals Limited, as announced on 17 August 2021. The completion of the acquisition is pending regulatory approval and all supporting documentation has been submitted to Mozambique's Minister of Natural Resources and Energy. To facilitate the receipt of all necessary Mozambique government approvals for the transaction, all parties have agreed for the Long Stop Date for the transaction to be extended to Wednesday 31 August 2022, with further extensions possible if required.
Sovereign Metals (SVML) provided its quarterly report for the period ended 30 June 2022.The company said the Expanded Scoping Study confirmed Kasiya as one of the world's largest and lowest cost producers of natural rutile and natural graphite with a carbon-footprint substantially lower than current alternatives. A MRE upgrade confirmed Kasiya as the largest rutile deposit ever discovered: 1.8 Billion tonnes @ 1.01% rutile and 1.32% graphite (Indicated + Inferred) equating to 18 million tonnes contained rutile and 23 million tonnes contained graphite.
Berkeley Energia (BKY) said it had strengthened its technical capacity and Spanish operating experience with the appointment of Francisco Bellón as an Executive Director. The company added that the outlook for nuclear power and the uranium market strengthened further during the quarter, with a number of important recent developments, including that the European Parliament voted to reject objections to the inclusion of natural gas and nuclear power in its taxonomy plan which had been subjected to extensive debate since late 2021.
MGC Pharmaceuticals (MXC), a European based bio-pharma company, announced that it has entered into a new convertible securities financing agreement with Mercer Street Global Opportunity Fund, LLC, to provide the company with a substantial funding facility of up to a total of $10m. This fully funds the current MGC Pharma business plan and replaces the unused amount of the convertible facility announced in September 2020.
Ormonde (ORM) announced that it is has entered into a conditional framework agreement for the sale of its interests in the La Zarza Copper-Gold Project in Spain for a cash consideration of EUR 2.3 million to La Zarza Mineria Metalica S.L.U., a subsidiary of Spanish company Tharsis Mining S.L., which controls the mining rights to La Zarza.
Thor Mining (THR) delivered its Quarterly Activities Report. The company said the June quarter has seen a flurry of on-ground activities, with its exploration focus on advancing the Ragged Range Project (WA), including the completion of a c. 3,000m RC program and organising upcoming drilling for our Uranium and Vanadium Wedding Bell Project in Colorado, USA.
Poolbeg Pharma (POLB), a clinical stage infectious disease pharmaceutical company, said it has appointed Singer Capital Markets as Joint Broker with immediate effect. finnCap Ltd will continue to act as Nominated Adviser and Joint Broker alongside J&E Davy as additional Joint Broker.
Europa Oil & Gas (EOG), the AIM traded UK, Ireland and Morocco focused oil and gas, announced that the Irish government Department of the Environment, Climate and Communications has advised the Company that its FEL 4/19 licence will remain live until the DECC notifies the Company otherwise.
Hummingbird Resources (HUM) announced its unaudited results for the six months ended 30 June 2022. Sales of $66.3 million (H1 2021: $84.0 million) were generated from 35,668 ounces of gold sold during the period at an average price of $1,859/oz (H1 2021: 46,809 oz sold at an average price of $1,794/oz), with additional $4.1 million (H1 2021: $2.6 million) revenue generated from the sale of single mine origin gold. Adjusted EBITDA of negative $9.3 million for the period (H1 2021: positive $16.2 million).
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