11th Aug 2025 18:55
(Alliance News) - The following is a round-up of trading updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Kavango Resources PLC - Botswana and Zimbabwe-focused precious metals explorer - Announces the start of resource drilling at the Bill's Luck gold mine at the Hillside Project in Zimbabwe. Says the multiphase programme aims to define a maiden mineral resource estimate to inform future mine planning and scheduling. Its "primary objective...is to define a gold resource that is mineable for a minimum of three years". Initial diamond drilling will aim to confirm and extend on mineralised zones that previous testing already identified. Later infill reverse circulation drilling will test the shear-hosted gold zones' lateral continuity, mainly along strike to the southeast and northwest. "Kavango believes there is significant future upside potential at Bill's Luck beyond the initial targeted maiden gold resource," the company says. Chief Executive Ben Turney comments: "A successful campaign will underpin the investment case for the placement of the [200 tonnes per day] production plant at Bill's Luck, as we work to scale up to a 250tpd gold production operation by the first half of 2026."
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Versarien PLC - Gloucestershire, England-based advanced materials engineering group - Appoints Leonard Curtis to conduct an accelerated sale process of its remaining assets. Says Curtis will contact potentially interested parties, with a view to offers being submitted by early September. If appropriate offers are made, and if the proposed strategic investment is not completed, asset sales will be "concluded as soon as possible thereafter". Versarien previously announced on March 5 that it was in advanced discussions with a third party, with a view to completing a strategic investment in Versarien at a premium to its then-current share price. Later on March 29, it said it had commenced the processes of placing Versarien Graphene Ltd into administration, and of the voluntary liquidation of Cambridge Graphene Ltd and 2-DTech Ltd, to extend its forecast cash runway through to the end of this month. On Monday, it said dialogue continues with a view to completing the strategic investment, and that it continues to market Total Carbide Ltd for sale. "In the event that asset sales are required to be concluded it is likely that the maximum proceeds...will be less than the liabilities of the group. In these circumstances, the company would cease trading and would be placed into administration," Versarien says.
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80 Mile PLC- Greenland and Finland-focused company with a portfolio of critical metal and industrial gas projects - Executes an asset purchase agreement with Amaroq Minerals Ltd for the sale of the Kangerluarsuk zinc-lead-silver project in Greenland. 80 Mile will receive USD500,000 in Amaroq shares following the sale's completion. It is also set to receive USD1,500,000 in cash or shares upon the discovery of an economic deposit. Says it identified multiple untested geophysical anomalies on the Kangerluarsuk property that are consistent with the style of mineralisation that supported historical production in the district. "Amaroq Minerals is a well-capitalised and technically proficient Greenland-focused explorer and developer, and 80 Mile is confident that their team is well-placed to unlock the value of the project through systematic exploration," the firm says. Adds that the sale reflects its strategy to monetise non-core assets and focus on its priority projects. Intends to use the proceeds to advance these core assets and for "further strategic initiatives".
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Lexington Gold Ltd - gold explorer and developer with projects in the US and South Africa - South African subsidiary White Rivers Exploration (Pty) Ltd has been granted a new prospecting right over the New Kroonstad North Extension in the Free State Province. The South African Department of Mineral & Petroleum Resources has granted the licence for approximately five years, with the option to renew it for a further three years. Licence covers approximately 18,340.5 hectares and "a broad suite of minerals, including gold, rare earth elements, silver, platinum group metals, diamonds (alluvial), uranium, copper, zinc, lead, sulphur, coal, iron, manganese, cobalt, nickel, molybdenum, and tungsten". Lexington says it is directly adjacent to its existing and historical Kroonstad licences held by WRE. Says WRE's combined Kroonstad area has an independently estimated non-code compliant gold exploration target of between 6.06 million ounces and 62.41 million ounces, at grades between 4.96 grams per tonne and 11.54 g/t. "The granting of this New Kroonstad North Extension Prospecting Right is an exciting development that expands our presence across one of South Africa's most prospective gold-bearing regions," says CEO Bernard Olivier.
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Cirata PLC - Jersey-based software solutions provider - Completes sale of its DevOps assets to UK-based software engineering analytics provider BlueOptima Ltd, receiving USD2.5 million upon successfully closing the transaction. Says final consideration of up to USD1.0 million will be payable in December 2025, conditional upon the transfer of Cirata's DevOps customers to BlueOptima. Says it will issue further updates "as appropriate". "This divestment reconfirms Cirata's focus on leveraging the growth potential of its Data Integration ("DI") business, the Company's core growth driver," the company says.
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By Emma Curzon, Alliance News reporter
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Related Shares:
Kavango ResourcesVersarien80 MileAmaroq MineralsLexington GoldCirata