28th Aug 2024 18:31
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Graft Polymer (UK) PLC - biopolymer drug delivery systems development; London-based arm of Ljubljana, Slovenia-based Graft Polymer doo - Hails "substantial progress" in work with Awakn Life Sciences Corp. Graft says Awakn has "identified two aminoindane chemical series as co-leads for further development". It has also achieved a step which "enables efficient and scalable production of the drug candidates". A new provisional patent has been filed in the US, and in addition, Charnwood Discovery has been selected as a synthesis partner. "The selection of Charnwood Discovery, known for its technical expertise, ensures that the synthesis process will be conducted to a high standard," Graft says. The collaboration between Graft and Awakn is focused on "substantial unmet needs in mental health and addiction treatment".
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Octopus Renewables Infrastructure Trust PLC - invests in renewable energy assets across the UK, continental Europe, and Australia - Completes sale of Swedish onshore wind farm, Ljungbyholm to DWS Infrastruktur Europa. The buyer is a DWS core infrastructure fund. "The sale price of EUR73.7 million delivers an IRR of 11.3% over the lifetime of the company's investment. The proceeds represent a premium of GBP1.4 million to the prevailing valuation of Ljungbyholm prior to agreeing the sale," ORIT adds. Proceeds to partially repay short-term debt facility, following which short-term debt is expected to be trimmed to around GBP134 million. "The transaction is part of the company's previously announced capital recycling programme, and follows the sale of two Polish onshore wind assets in December 2023, and the divestment of an option over a Spanish solar PV project in January 2024. Post the transaction, the capital recycling programme has to date generated gross proceeds of approximately GBP159 million," ORIT says.
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Kavango Resources PLC - Botswana and Zimbabwe-focused precious metals exploration company - Hails latest assay results at Hillside asset in Zimbabwe, which gives firm increased confidence that "wider mineralised system extends across the project area". "Results from the three diamond holes completed at prospect 2 (BRDD001, BRDD002 & BRDD003) have returned what Kavango believes to be significant assay results," it adds. "The holes are considered to provide further evidence of a wider gold mineralised system that it believes extends across the Hillside project area."
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Ariana Resources PLC - mineral exploration and development company with gold mining interests in Africa and Europe - Says final laboratory assay results received for Hizarliyayla drilling programme. Ariana owns just under 24% of Zenit Madencilik San ve Tic AS, which owns all of Hizarliyayla. Ariana Managing Director Kerim Sener says: "The latest diamond drilling and geophysics results from the Hizarliyayla exploration programme continue to demonstrate the lateral extent and depth of the mineralised system. As we had predicted from the geological model, most of the better intercepts are located at deeper levels, in several places, below 500m from the surface." Sener adds: "This was always an ambitious and challenging exploration programme. Still, these results have shown genuine potential in this location for mineralisation."
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Firering Strategic Minerals PLC - Zambia and Ivory Coast-focused mining company - Says "pleased" with progress at Limeco quicklime project in Zambia which is being refurbished. The aim is to commence "phased production during Q4 this year". Engineering work has advanced, and crushing plant modifications and on-site laboratory are "fully operational". Firering Chief Executive Yuval Cohen says: "I am very pleased with the progress being made at Limeco where engineers are rapidly completing the modifications to the lime plant. Key to this plan has been the manufacturing of the coal gasifier parts, which are now on their way to Limeco having left the Port of Mundra, India, on 23 August 2024. Notably, work on the gas ducting required to convey the hot gas from the gasifier to the kilns has also started."
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Cobra Resources PLC - focused on Boland rare earths project in South Australia - Hails results from study at Boland. Reports "exceptionally high recoveries of high value rare earths of up to 82%". "High recoveries from high grade ore coupled with low acid consumption and low cost ISR mining are standout factors for the Boland project. We are defining a scalable, high grade ionic rare earth project whose unique geology supports an ISR process, a point of difference to conventional ionic REE projects," CEO Rupert Verco says.
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Bezant Resources PLC - copper and gold exploration company with projects in Africa, South America and the Philippines - Confirms issue of environmental clearance certificate for Hope & Gorob copper and gold project in Namibia. Certificate is valid until August 2027. "The licence was previously renewed for a further period of two years from the previous expiry to 22nd October 2025 subject to the granting of the ECC. With the granting of the certificate the way is clear for the company to continue with exploration on this important extension to the pending Hope & Gorob mining licence and EPL 5796 exploration licence for which renewal is also in process," Bezant adds.
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By Eric Cunha, Alliance News news editor
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