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TRADING UPDATES: Aterian granted 10 exploration licences in Morocco

10th Aug 2023 14:38

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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Cizzle Biotechnology Holdings PLC - London-based diagnostics developer - Expands research agreement with University of York for the development of its CIZ1B biomarker technology for the diagnosis of early stage cancer. Says recent developments in CIZ1B have met "key milestones" to begin commercial trials ahead of its commercial launch. Executive Chair Allan Syms says: "The latest exciting developments have met important milestones, and so I am delighted to expand our investment with the university, which continues to provide support to the company from the leading-edge research and state-of-the-art laboratories."

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Galantas Gold Corp - owner of Omagh open pit gold mine in County Tyrone, Northern Ireland - Says mining contractor QME Mining Services (NI) Ltd has provided a contract mining plan for the Omagh project in Northern Ireland. Adds QME will begin development mining at the Kearney and Joshua veins in Omagh and expects approximately 5,000 tonnes of mineralised material per month. Also notes it has successfully intersected sulphides in drill hole FR-DD-23-196 at Joshua vein. Chief Executive Officer Mario Stifano says: "We are looking forward to having QME begin development work at Omagh, as it has the workforce and equipment to quickly commence development and mining with a plan to provide a sustainable 5,000 tonnes per month of mill feed. As we've kicked off drilling at the Joshua ein from surface, we will focus on resource expansion at the Joshua and Kearney veins to expand known resources with a goal to increase the mill capacity from 180 tonnes per day to 500 tonnes per day."

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Tertiary Minerals PLC - US and Zambia-focused mineral exploration and development company, concentrated on energy transition metals - Says soil sampling is underway at the Konkola west project in Zambia, while soil sampling is set to start "immediately" at the Mukai project once work is completed at Konkola. Adds approximately 310 soil samples have been collected at a 300-metre by 100-metre grid at Mukai.

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Checkit PLC - Cambridge-based workflow management software provider - Says revenue in the six months to July 31 grew by 19% to GBP5.7 million from GBP4.8 million a year prior. Annual recurring revenue grew by 24% to GBP12.6 million from GBP10.2 million, in line with market expectations. Says this was driven by "consistent execution" of its 'land and expand' strategy. Adds it has renewed its framework agreement with London-based John Lewis PLC, which operates the John Lewis department and Waitrose grocery stores, for another three years. Says the total contract value of the deal is around GBP6 million.

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Power Metal Resources PLC - Metals exploration company focused on North America, Africa, and Australia - Launches lithium exploration at North Wind lithium project in Ontario. North Wind is wholly-owned by its subsidiary Ion Battery Resources Ltd, which focuses on transition metals in Ontario, Saskatchewan and Quebec. Chief Executive Officer Sean Wade says: "Based on studies conducted by the Ontario Geological Survey, and highly anomalous lake sediment sampling results, the North Winds project area is considered highly prospective for lithium pegmatite exploration, and the significant opportunity means we are moving ahead at pace with this programme."

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Aterian PLC - London, England-based mining firm, formerly known as Eastinco Mining & Exploration PLC - Says it has been granted 10 new licences in Morocco for an area of 139.6 kilometres squared. This includes two new copper projects, Akka and West Tazalaght, in central Morocco within the western Anti-Atlas region. Adds it has received an additional exploration licence adjacent to Tata, Azrar and Jebilet projects. Says it now holds 17 projects covering a total of 897 km squared in Morocco. Adds it has raised GBP1 million through the issue of 100.0 million new shares at one penny each. Chair Charles Bray says: "I am very pleased to report on these new projects and the additional licences secured as part of Morocco's recent licence tender process. The increase in total land area and the expansion of the copper project portfolio clearly demonstrates our strong belief that Morocco represents an exciting mining destination, particularly for critical minerals vital for a successful energy transition."

By Sabrina Penty, Alliance News reporter

Comments and questions to [email protected]

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