Challenger Energy Group PLC (AIM:CEG, OTC:BSHPF) CEO Eytan Uliel talked with Proactive about the company's strategic shift following the sale of its remaining operations in Trinidad and Tobago. Uliel explained that this move allows Challenger Energy to fully focus on its high-impact offshore exploration in Uruguay, where it has a robust program planned for the next 18 months.
Discussing the deal, Uliel clarified that Challenger Energy will receive a total cash consideration of $1.75 million, with additional value from liabilities transferred to the buyer, Predator Oil & Gas PLC. There is also a potential performance-based bonus of up to $2 million, depending on future production outcomes. He described the agreement as beneficial for all parties, emphasizing that the company now has no residual exposure to Trinidad and Tobago operations.
Falcon Gold Corp (TSX-V:FG, OTC:FGLDF) has appointed veteran geologist Victor French to oversee its Great Burnt copper-gold project in central Newfoundland, the company said on Friday.
French, who has over 50 years of experience in mineral exploration and mining operations, will lead efforts to enhance geological modeling, optimize drilling strategies, and accelerate resource expansion at the project, Falcon Gold said in a statement.
Greatland Gold PLC (AIM:GGP, OTC:GRLGF) CEO Shaun Day talked with Proactive about the latest exploration update at the West Dome underground project. This marks the first-ever drilling campaign into this section of the Telfer gold-copper operation, yielding positive initial results.
Day highlighted that the underground beneath the Main Dome at Telfer has been operating for nearly two decades, producing over 3.0 million ounces of gold. The newly drilled West Dome underground area has shown high-grade intercepts, with some reaching over 19 grams per tonne gold equivalent. He emphasized the importance of this discovery, as it provides potential for extending the mine life at Telfer while leveraging existing infrastructure for efficient ore processing.
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) executive chairman Harry Anagnostaras-Adams talked with Proactive about the company’s latest resource updates for the Hawiah and Jibal Qutman projects in Saudi Arabia. He highlighted that the total reported resource at Hawiah has now reached 3.00 million ounces of gold equivalent, with the potential to double based on new exploration licenses. He noted that this reinforces the project’s status as a key development asset in Saudi Arabia.
Anagnostaras-Adams also discussed the upcoming resource update for Jibal Qutman, which was previously estimated at 700,000 ounces and is expected to increase, improving resource classification. He explained that KEFI has been actively realigning its business plan, enhancing management in Saudi Arabia, and focusing on growth in exploration licenses.
The more than 40% drop in Ceres Power Holdings PLC's (LSE:CWR, OTC:CPWHF) share price may be a little knee-jerk if the decision by Robert Bosch to exit the partnership agreement with the UK fuel cells group is a one-off.
That's Citi's take on the news German engineering giant has given its notice and will sell its stake in Ceres.
Orthocell Ltd has continued its global commercialisation push, preparing to enter the Thai market with a submission to the Thailand Food and Drug Administration (TFDA) for the sale of nerve repair product Remplir™.
The new regulatory submission follows continued record revenue growth due to strong sales in existing markets of Australia, New Zealand and Singapore.
Elixir Energy Ltd has entered into two farmout agreements for its Mongolian natural gas and renewable energy assets, effectively outsourcing operational and funding resources as the company focuses its attention on the Grands Gas Project in Queensland, Australia.
Read: Elixir Energy maiden Grandis deep coal contingent resource adds 245 billion cubic feet of 2C gas
TNR Gold Corp (TSX-V:TNR, OTC:TRRXF) told shareholders that Ganfeng Lithium has officially commenced production at the Mariana Lithium salt-lake project in Argentina, marking a significant milestone for the company, which holds a 1.5% net smelter return (NSR) royalty on the project.
Ganfeng, one of the world's leading lithium producers, held a ceremony last week, to celebrate the start of formal production at the first phase of the Mariana project.
GoviEx Uranium Inc (TSX-V:GXU, OTCQX:GVXXF) said on Thursday it has appointed Endeavour Financial as its financial advisor, taking the first step toward securing project financing for its Muntanga uranium project in Zambia.
Muntanga, a near-term uranium development, is expected to begin production in 2028 and could supply both Western and Eastern markets through established export routes, the company said.
Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) has agreed to issue US$30.5 million and US$35 million of three-year senior convertible bonds to repay existing bonds and for working capital.
The bonds, due March 2028 and with a coupon of 5.0% per annum, are being issued to Hong Kong-listed financial institution Sun Hung Kai & Co.
Genflow Biosciences PLC (LSE:GENF, OTCQB:GENFF) shares were up as much as 8% in morning trading after the company cleared a major hurdle in securing a European patent for its SIRT6 variant, a potential breakthrough in treating age-related diseases.
The European Patent Office completed its review with no further questions, allowing the application to advance.
Greatland Gold PLC's (AIM:GGP, OTC:GRLGF) stock surged 9% after what were described as “exceptional” drilling results from the company’s first underground exploration at West Dome, confirming the potential for high-grade gold and copper below the Telfer open pit.
Out of 19 drill holes, 16 hit strong mineralisation, with an average intercept of 23.2 metres grading 2.95 grams per tonne of gold and 1.07% copper.
Shares in Ceres Power Holdings PLC (LSE:CWR, OTC:CPWHF) fizzled 42% lower to 75.75p after major partner Robert Bosch pulled its partnership as part of a strategic realignment of its operations.
The German giant will sell off its 17.44% stake and its non-executive board representative is stepping down with immediate effect.
Genflow Biosciences PLC (LSE:GENF, OTCQB:GENFF) has moved a step closer to securing a European patent for its SIRT6 variant, a potential breakthrough in tackling age-related diseases.
The European Patent Office has completed its review with no further questions, allowing the application to move to the next stage.
Zephyr Energy PLC (AIM:ZPHR, OTCQB:ZPHRF) has completed drilling at its State 36-2 well in Utah's Paradox Basin, reaching a depth of 15,288 feet.
The company said everything went according to plan, with the well following the expected path and matching up with existing seismic data.
Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) has appointed Alaskan energy executive Max Easley as its new chief executive officer as it prepares for a possible US listing and shifts from exploration to development and production.
The oil and gas company, which is focused on the Kodiak and Ahpun oil fields on Alaska's North Slope, said current CEO Jay Cheatham will continue to serve as a non-executive director for a handover period.
Greatland Gold PLC's (AIM:GGP, OTC:GRLGF) chief executive Shaun Day described the first underground drilling results from the West Dome project as “exceptional”, confirming the potential for high-grade gold and copper below the Telfer West Dome open pit.
Out of 19 holes, 16 returned strong mineralisation, with an average intercept of 23.2 metres grading 2.95 grams per tonne of gold and 1.07% copper - this equates to 4.23 grams per tone of gold equivalent.
Solis Minerals Ltd has rapidly discovered four new copper-gold targets at the Chocolate Project in the Peruvian Coastal Copper Belt, identifying two new copper porphyry and two vein-hosted iron-oxide copper-gold (IOCG) targets.
The company used geochemical assays of rock samples to identify each target zone, with analysis done by ALS Global laboratories in Lima, Peru.
Livium Ltd subsidiary VSPC Pty Ltd has taken a big step towards its goal of establishing an Australian lithium ferro phosphate (LFP) demonstration plant by securing a grant of up to A$30 million from the Australian Renewable Energy Agency (ARENA).
VSPC, a developer of the critical battery material LFP, has executed a binding agreement with ARENA for the grant, which will be put towards the construction and operation of the plant.
American Rare Earths Ltd has achieved a metallurgical milestone for the Halleck Creek Rare Earths Project, confirming the ore from the tenure can be upgraded at a ratio of 10 to 1 through a simple early-stage beneficiation process.
The company also highlighted that 93.5% of non-rare earth material can be removed in early-stage processing, meaning only 6.5% of mined ore will require further refining, notably reducing processing costs.
West Wits Mining Ltd has inked a credit approval term sheet for a senior debt syndicated loan facility of up to ZAR 902.5 million (about US$50 million) subject to final loan documentation and conditions precedent.
The credit facility will be used to develop the Qala Shallows Gold Project in South Africa as the first phase of development for its greater Witwatersrand Basin Project.
Alkane Resources Ltd has delivered a golden set of results for the half-year ending December 31, 2024, highlighted by company profit after tax of $13,157,000, an increase of $731 million or 6% on the same period 12 months earlier.
This was largely driven by higher sale prices of $3,498 per ounce, a 20% increase on the previous period, and improved production at the Tomingley Gold Operations (TGO) in New South Wales, Australia, of 33,270 ounces, a 15% lift.
Firebird Metals Ltd has secured non-binding MoUs with four offtake partners for the supply of manganese sulphate and manganese tetra-oxide from the company’s proposed manganese production plant in Jinshi, China.
The offtake MoUs are with tier-one, China-based battery cathode manufacturers and cover up to 70% of potential manganese sulphate production (a total of 50,000 tonnes) and up to 100% of potential manganese tetra-oxide production (10,000 tonnes) from the first stage of production at the plant.
HudBay Minerals Inc. (TSX:HBM) saw its shares fall more than 12% on Wednesday afternoon after releasing its latest production guidance, which included a downward revision for 2025 copper and gold output.
Hudbay’s 2025 production guidance now forecasts copper output of 117,000 to 149,000 tonnes, which is approximately 13% lower than the previous range of 132,000 to 172,000 tonnes, while gold production is expected to be between 248,000 and 308,000 ounces, about 6% below the prior estimate of 264,000 to 326,000 ounces.
GameStop Corp (NYSE:GME) plans to sell its Canadian and French operations as part of its evaluation of its international assets, the video game retailer said in a statement late Tuesday.
The company did not provide any further details about the decision.
Falcon Gold Corp (TSX-V:FG, OTC:FGLDF) said on Wednesday it has completed road plowing and access improvements at its Great Burnt copper-gold project in Central Newfoundland, overcoming heavy snowfall to ensure full accessibility to the drill site.
The company has now mobilized its drill equipment to camp and expects to begin drilling by the weekend, according to a statement from Falcon.
EnWave Corp (TSX-V:ENW, OTC:NWVCF) announced that it has expanded its partnership with Sprouted Proteins SAC of Peru with an equipment purchase agreement and a license amendment.
The updated deal builds on an initial royalty-bearing license signed in February 2024 and it grants Sprouted Proteins exclusive rights to produce specific starch-based snacks and instant soup mixes in Peru.
North Bay Resources Inc. (OTC:NBRI) said it has produced a gold concentrate grading 8.52 ounces per ton from ore at its Fran Gold Project, processed through the gravity circuit at the company's Bishop Gold Mill.
The results align with previous metallurgical studies in December that yielded 8.54 ounces per ton gold concentrate using gravity separation, the company said.
NanoViricides (NYSE-A:NNVC) is positioning itself for a pivotal year in 2025, with plans to advance its lead antiviral candidate, NV-387, into multiple Phase II clinical trials.
The company is planning to accelerate its development pipeline, focusing on MPox treatment in Central Africa, viral acute respiratory infections, and a potential pediatric RSV indication.
C3 Metals Inc (TSX-V:CCCM, OTC:CARCF) has announced the results of a grid-based soil sampling program at its Khaleesi copper-gold project in southern Peru which has allowed it to identify a copper-molybdenum anomaly measuring 1,900 meters in length and up to 650 meters wide.
The soil sampling program covered a 3.3 square kilometre alteration footprint, previously identified through mapping and rock sampling.
Helium One Global Ltd's (AIM:HE1, OTCQB:HLOGF) share price rose 2.5% after the company confirmed drilling has started at Jackson-31, part of its Galactica helium project in Colorado. The well is targeting the Lyons sandstone formation, a known gas reservoir, with results expected to provide key data on the site’s helium potential.
Helium One, which holds a 50% stake in Galactica, said drilling is progressing as planned, with equipment in place and preparations underway to reach target depth. Once complete, tests will measure gas flow and pressure to estimate how much helium the well can produce.
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) said chief financial officer Chester Goodburn is to step down on March 24 after overseeing the company’s full-year results. He will be replaced immediately by Ross Jerrard, subject to routine checks.
Goodburn, who has been CFO since July 2022, will stay on briefly as a consultant to ensure a smooth handover.
Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) has announced that drilling has begun at the Jackson-31 well, part of the Galactica helium project in Colorado.
The company, which holds a 50% stake in the project, confirmed that early work is progressing, with equipment in place and preparations underway to drill deeper.
Additional metallurgical test-work by Titan Minerals Ltd has confirmed previous ore processing outcomes with recoveries of 85-88% for gold and 70-75% for silver from the Dynasty Gold Project in southern Ecuador.
Recoveries of gold from oxide ore material which extends from surface at the Cerro Verde prospect confirm and validate historical recoveries from previous open pit mining which was trucked and processed at the Svetlana 1 Plant in 2018 and 2019.
Terra Metals Ltd has received high-grade titanium results in addition to high concentrations of copper, platinum group metals (PGMs) and vanadium which extend the strike at Reef 1 North within the Dante Project in Western Australia’s West Musgrave region.
Results from nine reverse circulation (RC) drill holes at Reef 1 North have extended the discovery strike by an additional 1,200 metres to a total strike length of approximately 4,200 metres.
Sovereign Metals Ltd has expanded potential markets for products from the Kasiya Rutile-Graphite Project in Malawi after confirming that graphite concentrate meets or exceeds all requirements for refractory applications with comprehensive tests by leading German laboratories.
Refractories are ceramic units designed to withstand very high temperatures in manufacturing, used in a wide variety of industrial applications and representing 24% of market demand for natural graphite.
EnWave Corp (TSX-V:ENW, OTC:NWVCF) announced that it has signed an amendment to its royalty-bearing license agreement with Patatas Fritas Torres SL (PFT), a leading snack manufacturer based in Spain.
The updated agreement allows PFT to leverage its established distribution network to quickly broaden its offerings in the global snack market.
GoviEx Uranium Inc (TSX-V:GXU, OTCQX:GVXXF) said it has signed a letter of intent with the Republic of Niger to establish a structured roadmap for resolving the ongoing dispute over the Madaouela uranium project.
As part of the process, GoviEx has agreed to temporarily suspend arbitration proceedings under the ICSID Convention while negotiations continue within the agreed framework.
Invinity Energy Systems PLC (AIM:IES, OTCQX:IESVF, AQSE:IES) saw its shares jump 14% after announcing a major partnership with UK energy developer Frontier Power.
The deal could see up to 2 gigawatt-hours of Invinity’s ENDURIUM vanadium flow batteries used in large-scale energy projects across the UK.
Adriatic Metals PLC (LSE:ADT1, ASX:ADT, OTCQX:ADMLF) has confirmed the completion of its A$80 million equity raise.
The institutional placing saw the company issue 20.5 million CHESS Depositary Interests (CDIs) over new ordinary shares at A$3.90 per CDI.
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) has reported a major increase in its mineral resource estimates at the Hawiah copper-gold project in Saudi Arabia, strengthening its position as one of the country’s most significant base metals developments.
The total resource at Hawiah has risen by 26% to 38.2 million tonnes, with 14.7 million tonnes now identified as suitable for open-pit mining.
Challenger Energy Group PLC (AIM:CEG, OTC:BSHPF) has agreed to sell its Trinidad and Tobago operations in a deal worth up to $8 million.
Initially, the asset sale is priced at $6 million, but it can rise to $8 million subject to the performance of the production assets (if output exceeds 750 barrels of oil per day by the end of 2027).
Cobalt Blue Holdings Ltd has proposed a name change in line with its diversification strategy, proposing to rename Core Blue Minerals Ltd on the back of an earn-in agreement with AuKing Mining Ltd for the Halls Creek Project.
Halls Creek in Western Australia's north is a large-scale copper, lead, zinc, silver and gold project with significant cobalt potential.
In a major economic and ESG win for Ionic Rare Earths Ltd, a preliminary Life Cycle Assessment on subsidiary Ionic Technologies’ magnet recycling process has revealed substantial reductions in carbon emissions compared to existing primary rare earth sources.
A 30-50% potential reduction in production carbon footprint has been highlighted by Minviro, whose results will be peer-reviewed with final outcomes released in March this year.
Provaris Energy Ltd is adopting a capital-light revenue model designed to secure early cash flow while limiting large-scale capital expenditure as an important component of its commercialisation strategy.
The company aims to generate revenue through Technology Licence Fees and Origination Fees, ensuring upfront, recurring income streams.
88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) new farm-out deal has shone a light on the asset value that’s currently unrecognised by the share price.
The Alaska-focused explorer on Monday announced it had agreed a new farm-out deal for the Project Phoenix horizontal test well, on Alaska’s North Slope.
Petra Diamonds Limited (LSE:PDL, OTC:PDLMF) shares fell 16% after the immediate resignation of CEO Richard Duffy was announced.
The company said Juan Kemp, operations executive at Cullinan Mines, and Vivek Gadodia, chief restructuring officer, will step up as co-CEOs.
Allergy Therapeutics PLC (AIM:AGY, OTC:AGYTF) says the latest publication of phase III trial data provides important validation of its treatment, Grass MATA MPL.
The findings, shared in the journal Allergy, confirm the effectiveness of the company’s short-course immunotherapy for grass pollen allergies.
CleanTech Lithium PLC (AIM:CTL, OTCQX:CTLHF) is opening a retail share offer of new stock, via the Bookbuild platform, to raise additional funding.
It comes after last week’s £2.4 million equity raise – which sold 15 million new shares priced at 16p. In the retail offer, further new shares are available at the same price.
Scancell Holdings PLC (AIM:SCLP, OTC:SCNLF) will present new findings from its ongoing phase II clinical trial at the American Association for Cancer Research Immuno-Oncology (AACR IO) conference in Los Angeles from 23-26 February.
The data will highlight how its experimental melanoma vaccine, SCIB1, is working in combination with two widely used cancer drugs, nivolumab and ipilimumab.