9th Oct 2025 21:57
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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ACG Metals Ltd - Tortola, Virgin Islands-based mining company - Subsidiary, Polimetal, secures a 2% net smelter return royalty over a mining license area located in Turkiye. The NSR interest originates from a joint operation and option agreement executed in 2012 between Polimetal and Kenz Madencilik, under which the license was transferred to Kenz in exchange for USD150,000 and the undertaking of exploration expenditures, while Polimetal retained an option to acquire the NSR right. The agreement provides ACG with future cash flow exposure without direct exploration investment or operational involvement.
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Tertiary Minerals PLC - mineral development company focused on deposits in the US, Zambia and northern Europe - Provides update on target A1 prospect located within its Mushima North Project in Zambia. Near surface mineralisation is identified up to a depth of 84 metres with a surface footprint of around 450m by 400m. Mineralisation remains open to the north/northwest, south/southwest and at depth. In addition, multiple targets are defined based on regional geochemical and geophysical targets still to be drill tested located within 12km of target A1. Managing Director Richard Belcher believes this could "represent a significant discovery for the company." Adds: "We are now undertaking mineralogical studies to better understand the mineralisation style as a prelude to initial metallurgical testing. We hope to be able to fast-track the project along the valuation pipeline towards a maiden mineral resource estimation in the next 12 months."
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Genflow Biosciences PLC - biotechnology firm, with research facilities in Belgium - Decides to terminate, and not to proceed with, the subscription announced last Thursday. Instead, raises GBP440,000 via an allotment to Chief Executive Eric Leire of 40 million shares at an issue price of 1.1 pence each. Leire will then issue 35.5 million of the shares to a consortium of existing shareholders. He will retain the balance. Genflow believes the alternative transaction is more favourable to, and less dilutive for, shareholders.
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Jangada Mines PLC - natural resources development company, with interests in Brazil - Announces a positive update on its fully funded exploration programme at the Paranaita Gold Project in Brazil. Says 21 of the planned 31 100m trenches have been excavated with the remaining expected to be completed by third week of October. Visual interpretation from the trenches TR-02 to TR-07 identified a consistent 700m vein with clearly defined mineralisation. The 31-trench programme, extending to 3,100m in total, will guide the planned drilling campaign locations. A contract to conduct 1,800m of diamond drilling has been signed with Sondagem Asafe, with two rigs expected to be on-site by end of October. The 15-hole programme is expected to last 10 weeks, with updates released as appropriate during the drilling campaign. Exploration is "progressing well", Jangada CEO, Paulo Misk says.
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Tern PLC - internet-of-things focused investor - Announces a reduction in pay of Tern's board and executive management, together with a distribution commitment for when significant proceeds are received from exits of the company's investments. Tern explains its focus is on realisations and specifically seeking to maximise the value that can be realised from Tern's portfolio companies. At the same time it is maintaining strict cost control and looking to make savings. From November 1, there will be a 50% reduction in the salaries of the two board directors, Jane McCracken and Iain Ross, and Tern's executive managers Al Sisto and Bruce Leith. This is expected to save GBP153,000 per annum. The remuneration policy will be adjusted whereby 12.5% of net proceeds of any exit of the company's investments will be allocated to the executive team and board. In addition, says that shareholders will receive a distribution or capital return of at least 50% of the net proceeds received from the exit of any individual investment over GBP1 million.
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Firering Strategic Minerals PLC - Zambia and Ivory Coast-focused mining company - Confirms it has exercised the second tranche of the option to acquire a further 3.8% shareholding in Limeco Resources Ltd, taking its interest to 30.7%. CEO Yuval Cohen says: "We are pleased to increase our stake in Limeco at a time when its operational performance continues to strengthen. Sales from the first kiln are now being realised, while the second kiln remains on track to come online before year-end, with two additional kilns to follow shortly thereafter. This momentum, coupled with the exploration of further product streams, underscores our confidence in Limeco's ability to deliver on its growth strategy as the project advances toward unlocking its full potential."
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Chesterfield Resources PLC - copper and gold explorer in Cyprus and Labrador - Raises GBP375,192 via an issue to Executive Chair Kashif Afzal of 31.3 million shares at GBP0.012 per share. Following issue, Afzal has requested the company's broker, Peterhouse Capital, facilitate the immediate sale at the same price to purchasers identified by him. Afzal says: "We are delighted to welcome our new strategic investors at a material premium to our prevailing share price, evidencing their confidence and commitment to supporting a strategic transformation of Chesterfield. The investors are led by an entity affiliated with Arowana, a leading B Corp investment group helmed by its founder, Kevin Chin, and includes a family office connected with a ruling family in the United Arab Emirates. In addition, Chesterfield says it has sold 443,400 shares in Sterling Metals for CAD980,000. The intention is to sell the remaining 400,000 shares in an "orderly manner at the opportune time."
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Gunsynd PLC - investor in companies and projects in the natural resource sector - Says it has sold the remaining 1.8 million shares in 1911 Gold Corp for CAD1.3 million, around GBP711,252, and no longer holds any interest. Also advises that it no longer holds any interest in any other publicly listed companies with the exception of its holding in Richmond Hill Resources PLC. Now intends to fully concentrate on its privately held assets in Canada and expects to receive assay results from its recent field work at both its Bear Twit and Barb Gold projects by the end of October.
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By Jeremy Cutler, Alliance News reporter
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Related Shares:
Acg MetalsTertiary MineralsGenflow BiosciJangada MinesTernFirering Strategic MineralsChesterfield R.Gunsynd