8th Apr 2025 21:42
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Savannah Resources PLC - Europe-focused lithium producer - provides an update on the Barroso Lithium project, one of the European Commission's 'Strategic Projects' under the Critical Raw Materials Act and Europe's largest spodumene lithium deposit. Continues to make good progress towards completion of the definitive feasibility study and licencing phase in the project's overall development into a key asset in Europe's lithium battery value chain. Says good progress continues to be made with the phase 2 drilling programme, with up to 6 drill rigs working in parallel across multiple orebodies.
Over the remainder of the first half of 2025, plans to push on with all its workstreams as it looks to finalise the DFS and make its submission for the final, confirmatory phase of the Environmental Licence by the end of the year. "The team has continued to make good progress with the Project's many workstreams over recent months, as we get ever closer to our long-term objective of lithium production," comments Chief Executive Officer Emanuel Proenca.
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European Green Transition PLC - company focused on developing green economy assets in Europe - announces the granting of a three year extension for the Pajala copper-graphite licences in northern Sweden. The licence extensions are granted by Bergsstaten, the Swedish mining authority, for a further three years until March 2028. This provides EGT with additional security to advance discussions with third parties as it seeks to sell or partner the project. "The length of the extension term is a key factor for any potential incoming acquiror or partner, providing them with sufficient time to plan the next stage of project development," EGT points out.
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Pulsar Helium Inc - helium project development company based in British Columbia, Canada - University Bancorp Inc extends a USD4 million project finance facility to wholly-owned Minnesota operating subsidiary, Keewaydin Resources Inc to fund operational activities on Pulsar's Topaz Helium project in the near term. The facility is guaranteed by Pulsar and secured by a pledge of all of the shares of Keewaydin and a first lien on all assets of Keewaydin. The facility will mature on March 31, 2026, and will bear interest on any amount drawn at 12% per annum.
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Serinus Energy PLC - Romania and Tunisia-focused oil and gas explorer and developer - Agenția Naționala de Administrare Fiscala, the Romanian fiscal authority, misses the court-imposed deadline to refund value added tax to the company, worth around USD1.8 million. Serinus Romania starts litigation against ANAF on the solidarity tax and is waiting for the hearing date to be set. The company is also reviewing other actions it could take in Romanian courts to ensure ANAF and the Romanian Ministry of Finance meets its court-ordered obligation.
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Checkit PLC - Cambridge-based workflow management software provider - announces the implementation of a comprehensive strategic plan to enhance operational efficiency and to accelerate profitability. Expects this to deliver annualised cash savings of GBP3 million and involve one-off exceptional cash costs of GBP0.4 million in the current year. Restructuring will involve a number of job losses, a reduction of non-staff-related expenditures, renegotiating supplier contracts, and streamlining processes. Remains confident in Checkit's strategic direction and its positioning in key growth markets.
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By Jeremy Cutler, Alliance News reporter
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Savannah ResourcesEuropean Green TransitionPulsar HeliumSerinus EnergyCheckit