Castillo Copper (CCZ), announced that its exploration planning is well underway at the Harts Range project, 140km north-east from Alice Springs with new targets identified and further rock chip samples sent for testing. A notable finding was at the newly named Big Jay Prospect where a 500m long pegmatite was observed. The geology team consider this to be prospective for uranium-niobium-HRE mineralisation. CCZ said the geology team’s recent follow up visit to the Harts Range Project reinforces the Board’s commitment to accelerating development efforts and identifying new prospective targets in the region. The critical next phase of the exploration campaign will be a heliborne geophysical survey which has the potential to significantly expand the areas of interest.
Comment: Shares of CCZ have more than doubled since the end of September, as the market appreciates the progress here, something today’s announcement should only enhance.
Emmerson (EML), the Moroccan focused potash development company, has raised £0.85 million through an oversubscribed placing and subscription at a price of 0.65 pence per share. The net proceeds of the fundraising will primarily support the Company as it looks at its various options with respect to the dispute with the Moroccan Government, referred to in the Company’s announcement dated 1 November 2024.
Comment: Given that there are only 12 placing days to Christmas, it is good to see EML get some cash in via our friends at Shard Capital, and a fist full of warrants at 3p.
Celadon Pharmaceuticals (CEL), a UK-based pharmaceutical company focused on the development, production and sale of breakthrough cannabis-based medicines, wishes to provide an update on its financial position. Further to recent updates the Company is pleased to announce that it has received the balance of £150,000 due from the subscriber.
Comment: One appreciates the act of the subscriber in finding the final £150,000 behind the sofa. The question remains whether CEL can sort out its big picture financing?
Nativo Resources (NTVO), which has interests in precious metals mining and production in Peru, is pleased to announce it has signed a binding term sheet to acquire the Morrocota Gold Mine, located in the Arequipa province, 3km from the Bonanza Gold Mine which is held by Nativo’s 50%-owned joint venture, Boku Resources SAC.
Comment: With a £1.3m market cap, and the share price bumping along the bottom, a roll of the dice with a new project was certainly worth a go.
Rockfire Resources (ROCK), the base metal, precious metal, and critical mineral exploration company, announced that it has conditionally raised £660,000 (before expenses) by way of a placing of a total of 550,000,000 new ordinary shares of 0.1 pence each in the Company at a price of 0.12 pence per new Ordinary Share.
Comment: There are rats in drainpipes that would find it tough to compete with the speed at which ROCK managed to take advantage of the latest spike in the shares. Well done all round.
Aptamer Group (APTA), the developer of novel Optimer® binders to enable innovation in the life sciences industry, announced three new members to its Scientific Advisory Board (SAB). APTA said the new appointments to its Scientific Advisory Board bring additional focus to its strategy and will give valuable insights to support the advancement of its high-value assets and programmes towards the clinic.
Comment: APTA underpins its recent newsflow with today’s SAB announcement, something which should go to remind the industry and the market of the strength of its counterparties if nothing else.
EnSilica (ENSI), a chip maker of mixed signal ASICs announce that it has been awarded a contract for the design and supply of a precision timing controller ASIC to be used in high-value industrial test equipment products. The total value of the Contract, including non-recurring engineering and supply, is projected to exceed US$30m over 10 years, based on quoted NRE fees and the client’s forecast production volumes.
Comment: Although the journey and the share price progression has not been as smooth as some might have hoped, ENSI underlines with today’s news that it could be a leading company in its field.
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