17th Jun 2025 15:48
(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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Kavango Resources PLC - London-based, Botswana and Zimbabwe-focused precious metals exploration company - Announces further significant gold intercepts at the Prospect 4 Steenbok Target in the Hillside Project, Zimbabwe. Kavango completes a further 3,232m of diamond drilling at Steenbok, which built upon the success of Hole SKDD001, announced in April 2024. Kavango says seven of the eight holes drilled intersected "encouraging gold mineralisation." In total, there were 69 "significant" gold intersections using a cut-off grade of 0.7 grammes per tonne gold. In parallel to drilling, Kavango employed a firm of specialist structural geologists to review the geological setting at Steenbok. Based upon the extent of the claims, geological mapping and the structural review the company believes the strike length at Steenbok is up to 1.5km long and open in both directions.
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Pulsar Helium Inc - White Rock, Canada-based helium development company - Announces that the well clean up and flow testing program for the Jetstream 1 and 2 wells at the Topaz Project in Minnesota is to commence in mid-July and is scheduled to be completed in early-August. Drawing on research from geologically comparable settings, the company says it has tailored its well clean-up procedure to ensure optimal results. "The company is funded for this work program and the data will provide significant insights to the Topaz project's production potential," it adds.
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Sound Energy PLC - gas development projects in Morocco - Announces that it has signed an exclusive term sheet with Gaia Energy Ltd, a specialist in renewable energy, for the development of up to 270 mega watt of installed capacity of Photovoltac solar power at various locations in Morocco. Gaia has commenced feasibility studies at a number of sites. These include measurement and modelling of solar irradiation, land access studies, grid connection and capacity assessments. The next steps, upon formalisation of the joint venture, are to carry out the formal applications for grid capacity, other regulatory requirements, and negotiation of power purchase agreements. In addition, announces the completion of the regional screening study for natural hydrogen and helium undertaken in collaboration with Getech Group PLC, which specialises in locating essential energy and mineral resources crucial for the energy transition. The agreement was announced last October. "The study has yielded several high-potential targets that will now be the focus of our next phase of evaluation to refine a more targeted exploration programme," says John Argent, vice president Geoscience Sound Energy.
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Safestay PLC - London-based hostel operator - Notes recent speculation and share price movement. Confirms that it is considering the conditional sale of the freeholds of certain UK assets. It does not currently anticipate operational or headcount changes arising from any such freehold sale. Advises shareholders to take no action, stresses there there can be no certainty that the sale will proceed.
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Hemogenyx Pharmaceuticals PLC - London-headquartered biopharmaceutical company focused on treatments for blood diseases - Announces that the 30-day review period by the US Food & Drug Administration for the company's previously submitted amendment to the clinical protocol of its ongoing phase I trial of HG-CT-1 has concluded without a clinical hold. As a result, Hemogenyx Pharmaceuticals is now cleared to proceed with the next steps required to initiate pediatric enrolment in the trial. The protocol amendment expands the eligibility criteria for the phase I trial of HG-CT-1, Hemogenyx's proprietary CAR-T therapy for relapsed/refractory acute myeloid leukemia, to include children and adolescents with this aggressive and hard-to-treat disease. The company will now move forward with Institutional Review Board submissions and associated site activation procedures to enable the opening of pediatric cohorts. "Regulatory clearance to proceed with the pediatric expansion of our HG-CT-1 clinical trial is a significant milestone. It reflects continued momentum in our development program and underscores our commitment to delivering innovative therapies to patients across age groups," says Vladislav Sandler, chief executive of Hemogenyx Pharmaceuticals.
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Celsius Resources Ltd - developer of the Maalinao-Caigutan-Biyog copper-gold project in the Philippines - Confirms that the first drawdown from the funding arrangements previously announced with Mahalika Investment Corp has been received. The funds will be applied to the feasibility study update and FEED program at the MCB Project being undertaken by Ausenco. This represents a "strategic milestone", Celsius says. Continues to be confident that the feasibility study update and FEED will be completed on schedule, ready for anticipated early work construction in late 2025 followed by main construction and targeting first production by 2027. In addition, appoints Neil Grimes, currently a non-executive director, as executive director.
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Rainbow Rare Earths Ltd - developer of the Phalaborwa rare earths project in South Africa and Uberaba project in Brazil - Commences economic assessment for the recovery of rare earths from the Uberaba Project in Brazil. The EA will be carried out as a joint collaboration with Mosaic Co, a producer and marketer of concentrated phosphate and potash crop nutrients. It will be based on an operation processing the phosphogypsum from the Mosaic Uberaba phosphoric acid plant at a rate of around 4.3 million tonnes per annum, twice the size of Rainbow's flagship Phalaborwa Project. "Uberaba is an exciting project for Rainbow, given the technical similarities with Phalaborwa; however, it represents a significantly larger economic opportunity over the long-term due to the sheer scale of the planned annual feed rate and the long-term nature of the underlying phosphate deposit. As at Phalaborwa, we expect Uberaba to be a low-capital intensity project and a low-cost source of the critical rare earths driving the green energy transition and other advanced and emerging technologies," comments Rainbow Earths Chief Executive George Bennett.
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By Jeremy Cutler, Alliance News reporter
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Related Shares:
Kavango ResourcesPulsar HeliumSound EnergyGetech GrpSafestayHemogenyxCelsius ResRainbow Rare Earths