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TRADING UPDATES: Lexington completes Bothaville drilling phase

30th Jan 2024 14:20

(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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Lexington Gold Ltd - gold exploration and development company focused on South Africa and the US - Says that it has successfully completed a percussion drilling phase at Bothaville, its project in the Witwatersrand Gold Basin in South Africa. The upper section of the Karoo sediments is currently being sampled to test for heavy minerals, while diamond drilling below the sediments has now started on two of the four planned holes. It will be followed by wedging. Lexington adds that the drilling programme is progressing as planned, and should complete by the end of February.

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Northcoders Group PLC - Manchester-based software coding training provider - Says that trading during the year ended December 31 was "in line" with revised market expectations. Expects to report revenue of GBP7.1 million, up 27% from GBP5.6 million, driven by "accelerating demand for digital training". Notes that its business-to-business division improved sales towards the end of the second half despite a "challenging macroeconomic environment", securing three new contracts and generating an improved pipeline moving into the year ahead. Further, registrations in the business-to-consumer Bootcamp division reached 872 in January, representing a 74% increase from 501 in the same month a year prior. Looking forwards, says revenue visibility for financial 2025 "already stands at GBP3.7 million".

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Galileo Resources PLC - mining company focused on Zambia, Zimbabwe, Botswana, South Africa and the US - Announces results of Terraleach soil survey over its wholly-owned licence, PL253/2018, in the Kalahari Copper Belt in Botswana. A study has identified three potential drill targets, with a combined strike length of more than six kilometres. All targets are in the southern sector of PL253/2018, thus bisecting licences held by Cobre Ltd. Galileo says that when combining its own soil anomaly maps with those of Cobre, the targets "appear contiguous" and associated with the same geological and structural features. A fourth possible target has also been found to the north of the recent discoveries. Galileo is considering its approach to follow-up exploration, leading to drilling of better defined targets.

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Alkemy Capital Investments PLC - London-based company focused on acquisitions in the mining and technology metals sectors - Says that its wholly-owned subsidiary, Tees Valley Graphite Ltd, has signed a non-binding memorandum of understanding with Syrah Resources Ltd. Both parties will establish a joint venture to develop a commercial scale natural graphite active anode material processing facility at the Wilton International Chemicals Park. The Wilton AAM facility is expected to be financed at project level through green bonds, "combined with a mix of debt, strategic equity finance and grant funding".

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Arkle Resources PLC - exploration company with principal assets in Irish gold and zinc exploration licences - Says that the Stonepark zinc project in Limerick, Ireland, in which it has a 23% interest, has been awarded a further prospecting licence. Adds that PL3824 is surrounded by the five licences already held by its joint venture with Group Eleven Resources Corp, which is the firm that owns the other 77% of the project. The interpreted Southwest continuation of the prospective Coonagh Castle Fault underlies the new licence area.

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Voyager Life PLC - Perth, Scotland-based CBD and hemp business with operations in Scotland and Poland - Buys Amphora Health Ltd, the owner of the Amphora and Infused Amphora brands which comprise a range of CBD oils, vapour products and accessories. The consideration for the acquisition is satisfiable through the issue of 416,666 new shares at 12 pence per share, for a total of GBP50,000. A further 416,666 new shares, also at 12p each, may be issued in the event that sales of Amphora or Infused Amphora branded products exceed GBP100,000 over the two-years from completion. The buy should complete by February 29.

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Oriole Resources PLC - gold exploration company focussed on West Africa - Says that, following an earn-in agreement on the Mbe gold project in Cameroon, it has received the first tranche of a payment from BCM International Ltd. BCM has paid Oriole GBP500,000 towards the USD1 million signature payment, against which it had already received a USD50,000 advanced payment. A further USD450,000 is due from BCM on or before February 29.

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By Holly Beveridge, Alliance News reporter

Comments and questions to [email protected]

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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