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TRADING UPDATES: First Class says Zigzag enthusiasm "vindicated"

28th Nov 2023 17:18

(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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First Class Metals PLC - Canada-focused exploration company - Says samples from Zigzag property, "focussed on the lithium and tantalum potential", are of "high-grade". "The results from the channel samples have vindicated our enthusiasm to advance the potential of this property. The tenure of the spodumene and therefore the lithium reporting in the central sector of the property gives increased confidence in the prospectivity over the strike extensions. We are eagerly advancing the planning for drilling now the funds have been secured," CEO Marc Sale says.

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Red Rock Resources PLC - Africa, South America and Australia-focused natural resource exploration and development company - Says decree issued granting second licence to Red Rock subsidiary LacGold Resources in Ivory Coast, for an initial term of four years. The licence covers square 380.9 kilometres. Says its granted licences now total 725.4 square kilometres of "prospective gold ground". With the grant of a second licence yesterday we now have critical mass in our licence application areas in the gold province centred around Yamoussoukro. We regard the granted licences, and those still in process of grant, as being licences with good gold potential. We have already received an expression of interest from a company wishing to discuss co-operation or a transaction, and expect further interest," Chair Andrew Bell says.

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Kazera Global - mining-focused investment company - Says pulsating diamond jig ordered for Deep Blue Minerals asset in South Africa. The jig has 20 tonnes per hour processing capacity and is expected to be in operation early next year. "Pulsating jigs are widely used for diamond recovery and, with a processing capacity of 20 tons per hour, we believe this purchase provides a cost effective way to swiftly and dramatically improve operations at Deep Blue," Chief Executive Dennis Edmonds says.

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Saietta Group PLC - Towcester, England-based designer, engineer and manufacturer of 'eDrive' solutions for electric vehicles - Raises GBP6.7 million at 17 pence per share from placing and subscription. Saietta announced the plans for a fundraise on Monday. The fundraising is expected to satisfy the company's working capital requirements through to the end of March 2024, by which time the company is expecting to have announced a number of major commercial developments.

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Unicorn AIM VCT PLC - venture capital trust - Plans to launch offer for subscription to raise GBP15 million. Fundraise will also have a GBP5 million over-allotment facility.

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Seed Innovations Ltd - investment firm focusing on early-stage health, wellness and medical cannabis companies - Says investee Clean Food Group Ltd strikes deal with Roberts Bakery. Deal will see "bread product waste transformed into valuable oils and fats". Seed investee CFG adds: "Roberts will be the first bakery in the UK to validate the use of factory bread waste in the production of sustainable oils. The companies aim to establish a circular, sustainable ecosystem to address the challenges of the strained food system in the UK."

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By Eric Cunha, Alliance News news editor

Comments and questions to [email protected]

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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