Alba Mineral Resources (LON: ALBA) has agreed to acquire the 10% minority interest in the company that owns the Clogau gold mine and plans to dewater the Llechfraith mine shaft. It is also buying back a 3% net smelter return royalty leaving a 1% net smelter royalty and £72,000 of loans held by the vendor. The total cost is £400,000 in the form of 200 million Alba shares at 0.2p each, which was a 25% premium to the closing price. There are also 81.9 million warrant exercisable at 0.4p each. The share price has risen 9.03% to 0.175p.
Power Metal Resources (LON: POW) is preparing for its first drilling programme at the Molopo Farms Complex nickel copper platinum project in Botswana. Precision drill targeting is underway. There are two more high-priority targets selected for electro-magnetic surveys. The share price increased by 8.33% to 1.625p.
Rambler Metals & Minerals (LON: RMM) says underground diamond drilling at the Ming copper gold mine in Newfoundland and Labrador has intersected a new zone of copper mineralisation. This sparked a 6.17% rise in the share price to 21.5p.
AMTE Power (LON: AMTE) says it is achieving operational developments for all three battery cell technologies and there is significant commercial interest in the technology. Ultra High Power cells for the automotive sector are achieving a six-minute full charge time. There are five non-binding MOUs with automotive partners. Ultra Safe cells for energy storage have reached the energy density specification. WH Ireland believes that year to June 2022 revenues could grow to £16.2m and generate a pre-tax profit of £1.4m. That assumes the injection of additional cash through debt or equity, with some contribution from grants. The share price moved 5.95% ahead to 98p.
Shares in corporate finance adviser Marechale Capital (LON: MAC) continue to rise on the back of yesterday’s results. NAV increased from £686,000 to £3.63m, or 3.8p a share. The share price has risen 5.08% to 3.1p.
Alaska-focused oil and gas explorer Pantheon Resources (LON: PANR) says a report by Baker Hughes AHS indicates that the Theta West #1 well penetrated a world class petroleum system with abundant good quality reservoirs. The previously indicated recoverable resource is 1.7 million barrels of oil, which is 10% of the estimate of oil in place. Flow testing will be the most important thing for determining whether the Pantheon Resources wells are commercial. The share price edged up by 3.08% to 134p.
Australia-focused explorer Artemis Resources Ltd (LON: ARV) initially recovered its share price loss following yesterday’s disappointing drilling results at the Osborne nickel prospect. However, today the share price has fallen 10.9% to 2.1p.
Wishbone Gold (LON: WSBN) has secured an option to acquire the Anketell gold copper project, which is north of the company’s Red Setter project in Western Australia. The option payment is £25,000. The consideration would be £50,000 in cash and 2.17 million shares at 14.75p each. The share price fell 3.33% to 14.5p.
Powerhouse Energy (LON: PHE) is proposing a joint venture with Aquis-quoted Hydrogen Utopia International (LON: HUI) to develop a plant using non-recyclable waste plastic to produce hydrogen. Powerhouse Energy shares dipped 2.78% to 1.75p. Hydrogen Utopia International will be allowed to recover its costs of €250,000 with a €250,000 premium. This is similar to the agreement for the Tipperary plant.
