TRADING UPDATES: Gunsynd Invests; AQRU launches crypto loans

(Alliance News) – The following is a roundup of London-listed company updates released on Tuesday and not reported separately by Alliance News:

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Sunrise Resources PLC – Macclesfield, England-based mining project developer – Says Tolsa USA Inc is receiving approval for the proposed trenching program at Sunrise’s Pioche Sepiolite project in Nevada from the US Bureau of Land Management. The reclamation bond has been submitted, and now up to two kilometers of trenching by excavator is due to start this week. This will allow “better exposure and sampling” of the sepiolite deposits. Tolsa is the American subsidiary of Tolsa SA. Tolsa was given a six-month option to buy the Pioche project for $1.3 million in June and would pay a 3% royalty to Sunrise. The option is extendable for an additional 12 months upon payment of USD 50,000 to Sunrise. Sunrise notes that it remains focused on the CS and Hazen pozzolana projects, but Pioche is an example of its strategy to “identify overlooked mineral opportunities ‘to be converted into cash and free royalty’, such as those the company already holds on the Junction, Garfield and Stonewall exploration projects”.

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Georgia Capital PLC – Tbilisi, a Georgia-based investor in businesses in Georgia – announces the results of its tender offer for $365.0 million 6.125% outstanding notes due 2024 for cash. The total principal amount of notes accepted for purchase is $29.2 million, which he intends to cancel. Georgia Capital will also cancel an additional $35.8 million of notes it already holds, leaving $300.0 million of notes outstanding.

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Kavango Resources PLC – a London-based mining explorer focused on Botswana – agrees to raise £500,000 from the issue of 27.8 million shares at 1.8 pence each. The shares will be conditionally issued via direct subscription by a single strategic investor, Arigo Capital Ltd. Following Monday’s £3m equity fundraising to fund its projects in Botswana. “We are now extremely well placed to pursue our ambition of making several major metal discoveries in Botswana,” CEO Ben Turney said.

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Gunsynd PLC – London-based investment company specializing in the natural resources, life sciences and alcohol sector – Invests AUD 90,000, or approximately GBP 50,000, in Omega Oil & Gas Ltd. Omega is a Sydney-listed natural gas explorer and oil producer that began trading on the Australian Stock Exchange on Tuesday. It raised AUD 15.1 million through the issuance of 75.3 million shares at AUD 0.20 each. Gunsynd subscribed for 450,000 shares at that price, now holding a 0.4% stake. Omega holds two exploration permits and one petroleum license in the Surat-Bowen Basin in southeastern Queensland, Australia. For the year ended June 30, Omega recorded insubstantial revenue and a loss of AUD 2.0 million.

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Deltic Energy PLC – AIM-listed natural resources investment company – Says license P2252 operator Shell UK Ltd says it is preparing to move the Maersk Resilient drilling rig to the Pensacola site, with mobilization scheduled for early November. Drilling is expected to begin in mid-November, when Deltic will update further.

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Cloudbreak Discovery PLC – Builder of natural resources projects based in Vancouver, Canada – is electing to withdraw £203,500 from its £10 million equity drawdown agreement with Crescita Capital LLC, in which it entered into last February. As a result, 18.5 million Cloudbreak shares are issued at 1.1 pence each. “The capital raised will be used to advance the company’s acquisitions of energy royalties, lithium assets and bauxite projects globally,” the company explains.

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Lamprell PLC – an oil services provider based in the United Arab Emirates – confirms that its listing on the main London market was canceled when the market opened on Tuesday. Shareholders had approved the delisting in September.

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Gaming Realms PLC – London-based developer and licensor of mobile-focused gaming content – is officially launching its content in the US state of Connecticut, alongside partner DraftKings Inc. Five games are now live, and nine others will follow shortly. “Users will be able to play some of the company’s best titles including Lucky Larry’s Lobstermania Slingo, Blackjack X-Change and our collaboration with the American Cancer Society – Slingo Gems,” it says. Notes that the United States is an “important” growth market for the company, and that a “number” of new operator launches are planned.

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Ingenta PLC – Software and services provider to the publishing industry based in Oxford, England – Proposes tender offer to purchase 1.8 million shares at 115 pence each, approximately 11% of its issued share capital. will have a general meeting on November 11.

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Kefi Gold & Copper PLC – Cyprus-based gold and copper exploration and development company with projects in Ethiopia and Saudi Arabia – Updates on its third quarter operations. At the Tulu Kapi gold project in Ethiopia, project costs were updated by suppliers and resulted in a 7% increase in capital requirements to $320 million within the planned syndicate. It is estimated that the cash flow from the project in the first two years will be sufficient to repay the debt. Earnings before interest, taxes, depreciation and amortization will average $127 million per year over the first seven years, including $89 million for Kefi’s stake. Also plans to restart exploration for additional projects in the Tulu Kapi District exploration area. Meanwhile, Saudi Arabia says its business has benefited from pressure from the Saudi government to bring in international expertise and accelerated growth in the mining sector. Note rapid progress during the quarter. “Going forward, the company’s Saudi assets are expected to have shorter gestation, approval, financing and development timelines,” Kefi said.

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AQRU PLC – London-based incubator for decentralized finance companies – Launches ‘BlockLender’, a start-up offering cryptocurrency-backed lending services. BlockLender will allow holders of digital assets to access instant loans, using their cryptocurrency as collateral, starting at a minimum value of $100. “While crypto lending allows customers to use their digital assets to make real purchases, many vendors have taken excessive levels of risk with people’s assets, unbeknownst to their customers. With the launch of BlockLender , AQRU brings transparency to the evolving digital asset lending market,” says CEO Philip Blows, who will also serve as BlockLender’s Managing Director.

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Open Orphan PLC – London-based research organization testing products for infectious and respiratory diseases – Confirms that its name change to hVIVO PLC will take effect from Wednesday. The company previously explained that it will take the moniker from its clinical research subsidiary and said the name change will better reflect its core human challenge and early clinical services business.

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MGC Pharmaceuticals – Perth, Australia-based medicinal cannabis company – announces the results of an open-label clinical study, for a white label version of ArtemiC Support. The study was conducted on 60 Covid-vaccinated participants in Spain who were suffering from post-acute Covid, also known as long Covid. The nutraceutical was given as 10 drops twice a day for six weeks, and was found to ease symptoms of long Covid, which are linked to functional limitations. These include pain, mental confusion, sleep disturbances and inflammation. “Biological markers in blood tests have further proven a reduction in inflammation and enterohepatic involvement, as well as reactive liver proteins,” he explains. “The clinical study demonstrated that MGC Pharma’s ArtemiC Rescue formulation significantly affected the outward symptoms of Long-COVID, which is an excellent step forward in advancing clinical evidence of ArtemiC’s benefits,” said co-founder and managing director Roby Zomer.

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By Elizabeth Winter; [email protected]

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