Keras Resources (KRS) shares jump 137.50% to 0.095p as it increases ownership of mine
Keras has increased its ownership in the Diamond Creek Phosphate Mine in Utah to 100%, to assume full management and recommence production operations at the processing facility.Addressing investors, CEO, Russell
Lamming, said: “We are delighted to have acquired 100% of Falcon Isle, securing the high-grade Diamond Creek phosphate mine and strategically located Spanish Fork processing plant in a very buoyant organic fertiliser market.”
He said the acquisition has brought what has been an incredibly frustrating period to a close and results in the business now having complete autonomy over all mine to market activities.
Ncondezi Energy (NCCL) shares jump 52.38% to 0.8p as it moves to conserve cash
On Tuesday, Ncondezi updated the market on its integrated 300MW power project in Tete, Mozambique, as well as the company’s working capital facility term loan with Seritza, amid confusion over the Chinese government’s approach to funding overseas coal projects.
It said Seritza would extend the period in which it would not call in the loan to 29 April and that this would therefore allow for restructuring discussions to be finalised, which it said is ongoing.
As a result, it has implemented a cash conservation strategy to potentially extend its working capital runway from August to 1Q of 2023, depending on the restructuring outcome, it noted.
Empire Metals (EEE) shares rise 38.46% to 1.35p as it reports very high-grade intercepts
The resource company reported very high-grade intercepts from a recently completed reverse circulation (RC) drilling programme at the Gindalbie Gold Project in Western Australia, over which it holds a Tribute Agreement granting exploration, development and mining rights.
Shaun Bunn, Managing Director, said: “We are extremely pleased with the results from our initial drilling campaign at Gindalbie, which was a purely speculative effort aimed at identifying priority targets for further, more detailed exploration activities. To hit such high-grade shoots at Homeward Bound on the first pass is very encouraging, and to have a 100% success rate on all four holes drilled at this target bodes well for future, more targeted drilling campaigns.
Avacta Group (AVCT) shares jump 23.64% to 68p ahead of full year results next month
Shares in the clinical stage oncology company and developer of powerful diagnostics based on its innovative Affimer® and pre|CISION™ platforms jumped today after it confirmed that its financial results for the full year ended
31 December 2021 will be published on 6 April 2022.