Biotech Sareum (LON: SAR) co-founder and chief executive Tim Mitchell is transitioning to the part-time role of chief operating officer. Dr Stephen Parker becomes executive chairman. The share price improved 7.94% to 34p.
Capital Metals (LON: CMET) has received consents so that drilling can commence at the Eastern Minerals project in Sri Lanka. The focus will be resource extension and confirming the resource. The minimum target is to double the existing resource of 17.2Mt at 17.6% total heavy minerals. The share price is 7.35% ahead at 1.825p.
Union Jack Oil (LON: UJO) has spudded the Andrews 2-17 well in Oklahoma, where it has a 45% interest. The Andrews 1-17 well is already in production. The Wressle project in the UK has generated $1m of revenues since the end of April. The share price is 6.45% higher at 16.5p.
CleanTech Lithium (LON: CTL) expects to hear from the Chilean government about its expression of interest relating to the Laguna Verde and Viento Andino projects and three other joint ventures by the end of August. The share price rose 5.08% to 15.5p.
Pit optimisations at the Dokwe gold project in Zimbabwe, recently acquired by Ariana Resources (LON: AAU), have increased measured and indicated resources by 16%. Dokwe could produce 75,000-100,000 ounces of gold/year for more than a decade. A revised pre-feasibility study should be published in a few months. The previous study suggested a post-tax NPV10 of $160m. The share price improved 4.65% to 2.25p.
Quadrise (LON: QED) says that trials of its lower emissions MSAR and bioMSAR fuels for marine vessel the MSC Leandra have not started yet. In February, Quadrise announced a collaboration agreement with Cargill and MAC2 Solutions, but the full agreement has not been signed. Cargill will supply feedstocks and MAC2 provide jetty space. Cargill has a fleet of more than 500 vessels. The share price recovered 3.63% to 2.0725p.
FALLERS
UK Oil & Gas (LON: UKOG) has raised £500,000 at 0.015p/share. This will repay the convertible funding facility with RiverFort Global Opportunities and YA II PN. The remaining cash will fund hydrogen storage projects. the share price slumped 21.4% to 0.0165p.
Impax Asset Management (LON: IPX) reported a 7% fall in asset under management to £36.9bn in the quarter to June 2024. That is a 1.3% decline over nine months. There was a net outflow of £1.89bn in the quarter and the rest of the decline was negative performance. It appears that some investors are still reducing exposure to equities. The 2023-24 earnings forecast has been cut by 3% to 29.7p/share. Impax Asset Management is acquiring the European fixed income operations of SKY Harbor Capital Management, which covers assets under management of $2bn. The acquisition of Copenhagen-based Absalon Capital Management should be completed soon. The share price declined 9.47% to 377.5p.
Lithium explorer Atlantic Lithium (LON: ALL) says an investigation has commenced following the death of a worker at the Ewoyaa project in Ghana. Activities have been suspended. The share price dipped 5.45% to 18.91p.