17th Jul 2024 19:40
(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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Pennpetro Energy PLC - Texas-focused oil and gas company - Signs deal with energy trading firm Globalvision International to sell its shares in Texas Nobel USA Inc. In return, Pennpetro gets a life of asset overriding royalty interest on Texan oil wells and a 10% profit share on any other wells drilled or developed within Pennpetro's 2,036 acres in Texas. It notes a 12.5% overriding royalty interest, over the life of asset which is estimated at around 30 years. The Texan wells are City of Gonzales #1 well, Chalk Talk #1 well, Chalk Talk #4 well and Whistling Straits #5 well in Gonzales. "In addition, Globalvision will take over all creditors that existed in Texas leaving Pennpetro completely free of any financial obligations associated with Texas," Pennpetro says. Chief Executive Officer Tom Evans says: "Shareholders should not underestimate the material value of receiving a ORRI on oil production from these wells. There is a lot of oil in these 2,036 acres and we will rank equally with the landowners with this ORRI and receive monthly revenue income from all oil sales from Texas once production recommences. We are hopeful to see oil production starting within months."
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Nanoco Group PLC - Runcorn, England-based developer and manufacturer of cadmium-free quantum dots and other nanomaterials - Reports launch of new wafer device facility at Runcorn headquarters. "The new fab is a state-of-the-art wafer device facility and represents a significant step forward in the company's ability to deliver high performing materials for use in infra-red sensing applications," it says.
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Valereum PLC - focused on tokenised digital markets as an exchange and marketplace operator - Says will work with blockchain consulting company Antier. Duo will develop the V-Wallet, a mobile device app which will allow Valereum customers access to products and services. "This collaboration with Antier will form part of VLRM Markets' go-to-market strategy by ensuring the development of a fully customisable wallet infrastructure. It aligns with VLRM's strategy to collaborate with trusted technology vendors to develop and deliver full stack technology solutions to support all aspects of VLRM's business," Valereum adds.
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Audioboom Group PLC - podcast publisher - Announces new partnerships with "top tier podcasts" including Cancelled with Tana Mongeau, Stavvy's World, and The 13th Juror. "These shows are expected to contribute more than 4 million downloads per month to the Audioboom Creator Network," it adds.
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Agronomics Ltd - venture capital firm which invests in cellular agriculture companies - Portfolio firm Good Dog Food Ltd is first ever company to receive regulatory clearance for cultivated meat to be sold as pet food. Backing came from UK regulators. "Meatly's cultivated chicken for pet food can now be sold in the UK," it adds.
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Premier African Minerals Ltd - British Virgin Islands-based mining company focused on Southern Africa - Says commissioning of newly installed scrubber unit is ongoing at Zulu lithium and tantalum project. "Premier is encouraged with preliminary results that indicate a lower loss of spodumene to tailings and improving grades to concentrate cells, with longer production runs. As commissioning continues and production runs are extended this trend is expected to continue," it adds.
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Great Western Mining Corp - Nevada-focused gold, silver and copper explorer - Nevada division of Environmental Protection grants a new water pollution control permit to Western Milling LLC, authorising the construction, operation and closure of approved mining facilities. Western Milling is 50% owned by Great Western and has constructed a mill for processing precious metal concentrates from mining waste at Sodaville in Mina, Nevada. The permit will become effective on July 31, subject to any appeals. Accordingly, Western Milling will shortly begin the commissioning process.
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SulNOx Group PLC - London-based greentech company, which provides solutions towards decarbonising and improving the efficiency of liquid hydrocarbon fuels - Reports conclusion of extended shipping evaluation with Caspian Marine Services BV, an operator of a fleet of more than 25 offshore marine support vessels. "Two CMS offshore support vessels were included in a long-term evaluation of the SulNOxEco fuel conditioner. Both vessels demonstrated improvements in consumption that has resulted in the evaluation being extended to a third vessel," SulNOx adds.
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Ormonde Mining PLC - natural resources company with assets in Newfoundland and Scotland - Investee TRU Precious Metals Corp starts copper exploration programme at Golden Rose, Newfoundland. Ormonde owns just over 36% of TRU. "Exploration work will include prospecting, grab (rock) sampling, reconnaissance soil sampling and trenching over interpreted critical minerals anomalies determined through previous work by TRU, historical data compilation, and recently acquired high resolution satellite and remote sensing data over the entire property," Ormonde adds.
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Oracle Power PLC - Western Australia and Pakistan-focused energy projects developer - Receives assays from aircore drilling at Northern Zone gold asset in Western Australia. Says 27 aircore holes drilled have "successfully more than doubled the prospective gold system". "Further targeted drilling is being planned over the expanded footprint of the mineralised porphyry," Oracle Power adds. "A drilling rig has been contracted for the middle of August 2024."
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By Eric Cunha, Alliance News news editor
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