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TRADING UPDATES: Fulcrum Metals finds uranium oxides at Charlot-Neely

7th Sep 2023 17:13

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


Fulcrum Metals PLC - Canada-focused mineral exploration and development company - Says it has identified multiple areas of strong radioactive outcrop at Charlot-Neely lake. Adds that some of the radioactive zones contained visible uranium oxides. Notes that two radioactive trends were discovered in South Neely over 100 metres strike length. Says 56 samples have been collected for laboratory analysis. Panther Metals PLC - a Canada-focused mineral and exploration company - noted the announcement. It holds 20% interest in Fulcrum. Fulcrum Chief Executive Ryan Mee said: "We are extremely pleased with the preliminary results of the fieldwork at our Saskatchewan properties which has not only produced high radioactive readings from historical trends including off-scale scintillometer readings [more than] 65,535 [counts per second], but also identified new discovery areas with significant radioactivity."


RegTech Open Project PLC - technology business focused on automation and optimisation of regulatory compliance operations - Says it has appointed Paul McFadden as its new chief financial officer, effective December 5. Says McFadden has most recently served as CFO aT Shearwater Group PLC and financial controller at Wilmington PLC. "As noted in RTOP's recent prospectus, we have conducted a lengthy process to identify and appoint an appropriate candidate for the role of Chief Financial Officer. I am delighted that Paul is joining the RTOP senior management team and bringing significant experience and knowledge as an established CFO in the technology sector and high growth PLC environment," Chief Executive Ian Halliday-Pegg says.


Arrow Exploration Corp - oil and gas company with projects in Colombia and Canada - Says it is preparing to test the C7 formation in its CN-3 well, with results expected in mid-September. Adds that once CN-3 is on production, the rig will move to its RCE field, before returning to the CN field where it will drill additional targeted wells. Notes that Its CN-3 well was spud on July 20, and encountered two oil pay zones. Notes that the lower pay zone was producing at 593 barrels of oil per day during testing, while the upper zone was producing at 194 barrels per day. Chief Executive Marshall Abbott says: "The CN-3 well is the 8th well in a row where the Company has proven commercial production. The thick pay zone and production from the CN-3 well provides additional evidence of the potential in the Ubaque formation. The company expects material reserve additions and production from further development of this zone at Carrizales Norte. Additional pay zones currently behind pipe provide further opportunities for production and reserve increases in the future."


Amaroq Minerals Ltd - mine development company with a land package of gold and strategic mineral assets in Southern Greenland - Says it is preparing to move its shares in Iceland from Nasdaq First North Growth Market Iceland to the Nasdaq Main Market in Iceland. Adds that the move will take place in the third week of September. Says the Main Market will make it eligible for future inclusion in Icelandic and international stock market indices. Chief Executive Eldur Olafsson says: "Moving our shares to Iceland's Main Market will place Amaroq in a very favourable position. Since listing on First North last year, we have benefitted from strong demand from the Icelandic market and believe the Main Market listing will further enhance this."


By Harvey Dorset, Alliance News reporter

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