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#TEK Tek Capital plc – Investee Company #BELL Belluscura plc
Belluscura, a leading medical device developer focused on lightweight and portable oxygen enrichment technology, is delighted to announce that it has won two 2022 HME Business New Product Awards for its X-PLOR® portable oxygen concentrator and Nomad Biometric™ App.
X-PLOR® is a lightweight portable oxygen concentrator (“POC”) with user replaceable oxygen enrichment cartridges and direct-charge batteries. Weighing only 3.75 lbs, its AirgonomicTM Design ensures user-friendly experience and maximum comfort and mobility. It has multiple Pulse Flow Settings including its novel X-PLORATIONTM Mode.
The next generation X-PLOR® also includes the new Nomad Biometric™ App, where patients can connect other Bluetooth® devices such as their iPhone® or Android phone, Nonin® or Masimo® pulse oximeters, and Fitbit® wearables to track healthcare data which can be shared with healthcare providers.
The New Product Award is run by HME Business, part of the HME Media Group, honouring outstanding product development achievements by HME manufacturers and service providers. The competition is judged by a panel of HME providers from a variety of backgrounds and category specialties.
Both products, along with Belluscura’s next generation POC, the DISCOV-R™, will be on display at Medtrade in Atlanta, Georgia between October 24-26. Medtrade is the largest home medical equipment trade show and conference in the US.
The DISCOV-R™, weighing just 6.5lbs when it is launched in Q1 2023, will be the world’s first ambulatory dual flow POC. Comparable competitive devices weigh nearly twice as much and lack Belluscura’s novel NOMAD Biometric App and patented technology.
Robert Rauker, CEO of Belluscura plc, commented:
“We are delighted that Belluscura has been awarded two 2022 HME Business New Product Awards for the X-PLOR® portable oxygen concentrator and the Nomad Biometric™ App. The awards recognize the outstanding product innovation behind the X-PLOR®, the Nomad Biometric™ App, and the DISCOV-R™. We look forward to introducing our latest portable oxygen concentrator to the market, DISCOV-R™, which, like all our products, was designed with our patients in mind and getting them back to doing the things that they love.”
ENDS
For further information, please contact:
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Belluscura plc |
www.belluscura.com |
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Robert Rauker, Chief Executive Officer |
via MHP |
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Anthony Dyer, Chief Financial Officer |
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SPARK Advisory Partners Limited (NOMAD) |
Tel: +44 (0)20 3368 3550 |
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Neil Baldwin |
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Dowgate Capital Limited (Broker) |
Tel: +44 (0)20 3903 7715 |
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James Serjeant / Nicholas Chambers |
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MHP Communications (Financial PR and Investor Relations) |
Tel: +44 (0)20 3128 8100 |
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Katie Hunt / Pete Lambie / Matthew Taylor |
Email: belluscura@mhpc.com |
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About Belluscura plc ( www.belluscura.com )
Belluscura is a UK medical device company focused on developing high performing, lightweight and portable oxygen enrichment technology used in a broad range of industries and therapies. Our innovative oxygen technologies are designed with a global purpose: to create improved health, mobility and economic outcomes for patients, healthcare providers and insurance organisations.
About Reach announcements
Reach is an investor communication service aimed at assisting listed and unlisted (including AIM quoted) companies to distribute media only / non-regulatory news releases such as marketing messages, corporate and product information into the public domain. An RNS Regulatory announcement is required to be notified under the AIM Rules for Companies.
#KAV Kavango Resources PLC – Ditau – IOCG system confirmed at i10
Botswana focussed metals exploration company Kavango Resources plc (LSE:KAV) (“Kavango”) is pleased to announce petrological confirmation of an Iron Oxide Copper Gold (“IOCG”) system at the Company’s Ditau Project in southwestern Botswana.
Kavango has received petrology results of core samples taken from Ditau, including exploration hole DITDD004, which the Company successfully drilled in May 2022. Kavango believes this is the first confirmation of IOCG-style mineralisation in Botswana and suggests there is considerable exploration upside at Ditau, both for higher grade IOCG discovery and for carbonatites that may contain rare earth elements (“REEs”).
Kavango has previously identified 12 ‘ring structure’ geophysical anomalies at Ditau, which remain the Company’s focus for exploration.
HIGHLIGHTS
– Petrological analysis confirms IOCG system at Target i10 in Hole DITDD004
– 15 samples from Ditau tested by an internationally recognised laboratory in the UK
– Kavango believes this is an important exploration lead as such IOCG mineralising systems seldom occur in isolation and can be extensive
– Minor amounts of mineral bastnaesite (a REE carbonate) identified in DITDD004
– This may provide evidence for nearby REE mineralisation
– REE hosting intrusions, such as carbonatites, can occur in proximity to IOCG deposits
– Further deeper and lateral drilling at i10 will test this potential
– Kavango’s geophysical data over Target i10 shows the presence of coincident magnetic and gravity anomalies, which are typical of IOCG deposits
– Next steps
– Kavango to prepare an updated exploration plan, incorporating IOCG deposit model
– Final processing, analysis and interpretation of existing Controlled Source Audio MagnetoTelluric (“CSAMT”) data acquired in H1
– Extensive CSAMT and gravity surveys planned across all 12 Ditau targets
– Drill planning
Ben Turney, Chief Executive Officer of Kavango Resources, commented:
“These are surprising, positive results for Kavango. The Iron Oxide Copper Gold deposit style has never been considered at Ditau. However, given the project’s geological setting, there is a compelling logic to this model.
Ditau sits towards the western edge of the Kaapvaal Craton and is within an established kimberlite/carbonatite corridor. These are supportive indicators of a potentially favourable environment for IOCG mineralisation.
Sand cover at Ditau has always made this a conceptual geophysical venture, but now that we have physical evidence of hydrothermal mineralising processes occurring here this will help shape future exploration.
Our current strongest lead is Hole DITDD004, which tested Target i10 and remains open in what we believe to be an IOCG breccia at 393m. We believe i10 would benefit from deeper and lateral drilling. However, before we send a rig back to Ditau, we need to conduct more CSAMT and gravity surveys over all 12 targets. Results from these surveys should enhance our updated exploration plan and increase our confidence in future drill targeting.”
Background
The i10 Target is a discrete 2.2km diameter magnetic anomaly (the “i10 Target”) that Kavango drilled two exploration holes into, during April and May 2022 (drill completion announced >>> 18 May 2022). The holes were designated DITDD003 and DITDD004.
DITDD004 was drilled to a depth of 393m and intercepted a Zone of Interest, from which the majority of samples in the hole were taken and sent for petrological investigation. This Zone of Interest was first interpreted to extend from 293m to 321m. However, subsequent analysis confirmed the Zone of interest extended from 293m to the end of hole at 393m and was open at depth. In addition to this, assay results confirmed the presence of a gold mineralising system in the Zone of Interest, with a peak grade of 0.175 parts per million (“ppm”) over 2m from 312m to 314m (announced >>> 30 August 2022).
i10 Petrology Results
Subsequent to this, Kavango has now received a petrology report on samples from Ditau, including hole DITDD004, which confirms brecciation and alteration that are considered to represent part of an Iron Oxide Copper Gold (“IOCG”) system.
Kavango believe this to be the first discovery of an IOCG system in Botswana.
The report, carried out by an internationally recognised petrological laboratory, describes mineralogical studies carried out on thin sections prepared from 15 samples of drill core provided by Kavango. These cover the four holes drilled in the 2022 drill program.
Work consisted of optical mineralogy, augmented on two samples by Scanning Electron Microscope Point and Identification techniques.
Kavango regards this development as an important exploration lead; such IOCG mineralising systems seldom occur in isolation and can be extensive.
Taken together it is interpreted that the protolith (initial rock type) was generally a Banded Iron Formation (“BIF”), laid down in a BIF sedimentary process that this has subsequently been partially re-worked and over-printed by later mineralised brecciation, containing predominantly pyrite and quartz and subordinate magnetite.
There are also a series of samples containing altered intrusives that are assumed to be younger. Some of these contain elevated levels of rare earth elements (“REE”). Point Identification Scanning Electron Microscopy work by the petrology laboratory identified the presence in hole DITDD004 of minor amounts of the mineral bastnaesite, a REE carbonate. This may provide evidence for nearby REE mineralisation.
REE hosting intrusions, such as carbonatites, can occur in proximity to IOCG deposits, and so the presence of more than once deposit style in the area is entirely possible.
Kavango’s geophysical data over the i10 Target, shows the presence of coincident magnetic and gravity anomalies, which are typical of IOCG deposits.
Next exploration steps
There is considerable exploration upside at Ditau, both for higher grade IOCG discovery and for carbonatites.
Multiple attributes of IOCG deposits have been identified as present at Ditau by the petrology laboratory as well as by Kavango. Exploration for both IOCG and intrusive hosted REE mineralisation is considered by Kavango to be best achieved by geophysical means. Accordingly, Kavango is planning further Closed Source Audio MagnetoTelluric, and gravity survey work over across Ditau prior to drilling.
8 of Kavango’s 12 targets remain untested by CSAMT and gravity surveys.
In addition to this the Company is considering next steps for drilling. Kavango believes Target i10 in particular would benefit from deeper and lateral drilling, with hole DITDD004 remaining in breccia at depth (393m). The Company will also assess further drilling on Targets i1 and i8, which were also drilled earlier this year.
Kavango has data queued for analysis and interpretation from the additional CSAMT surveys completed on Targets i10, i1 and i8. Further updates shall be provided in due course.
Further information in respect of the Company and its business interests is provided on the Company’s website at www.kavangoresources.com and on Twitter at #KAV.
For further information please contact:
Kavango Resources plc
Ben Turney
+46 7697 406 06
First Equity (Joint Broker)
+44 207 374 2212
Jason Robertson
SI Capital Limited (Joint Broker)
+44 1483 413500
Nick Emerson
Kavango Competent Person Statement
The technical information contained in this announcement pertaining to geology and exploration have been read and approved by Brett Grist BSc(Hons) FAusIMM (CP). Mr Grist is a Fellow of the Australasian Institute of Mining and Metallurgy with Chartered Professional status. Mr Grist has sufficient experience that is relevant to the exploration programmes and geology of the main styles of mineralisation and deposit types under consideration to act as a Qualified Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’.
#TM1 Technology Minerals – Global Battery Metals Exercises Leinster Option
Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, is pleased to announce that Global Battery Metals Ltd (“GBML”), (TSXV: GBML; OTCQB: REZZF; Frankfurt: REZ), an international critical mineral exploration and development company focused on growth-oriented battery metal projects, has elected to exercise its first option with respect to the Company’s lithium North-West Leinster Property in the Republic of Ireland (“the Property”).
The Leinster Property is currently operated as an Earn-in Option between LRH Resources Limited (Ireland) (“LRH”) (a wholly-owned subsidiary of the Company) and GBML. The project is operated under an exclusive Earn-in and option agreement with GBML with no project expenditure required by the Company.
The agreement provides GBML with three staged options to acquire up to 90% of the Property as follows:
· First Option: to earn 17.5% equity by spending on the Property by 12 October 2022:
o (i) up to €85,000 (already spent) in expenditures on the Property, separate from the license fees
o (ii) up to €6,500 (already spent) in connection with all such license charges, fees and rents as may be required to keep the Property in good standing
· Second Option: to earn a further 37.5% equity by spending a further €500,000 (with credit given for overspend by GBML prior to 12 October 2022) within two years of the exercise of the 1st Option, and paying the Company €50,000 (i) in cash or (ii) GBML shares at market price and €5,000 in cash
· Third Option: If Option 2 is exercised, to earn a further 35% equity by spending a further €1,000,000 within two years of the exercise of the 2nd Option, and paying the Company €200,000 (i) in cash or (ii) GBML shares at market price and €20,000 in cash.
· GBML is required to maintain the applicable Option in good standing, and when GBML reaches 55% interest, pursuant to the terms of the Second Option, a joint venture between the Company and GBML will be formed. The joint venture terms include:
(i) each party having a right of first refusal on the other party’s shares;
(ii) each party having tag along rights in the event a party seeks to sell its shares (and the other party does not exercise its right of first refusal); and
(iii) each party’s interest shall convert to a 2% gross smelter royalty (the “GSR”) if its interest dilutes below 10%. The royalty payor of the GSR has a buy back right on one half of the GSR exercisable within a period of 12 months after its grant for an acquisition price of €1,000,000 payable in cash or GBML shares at market price.
The Leinster Property
The Leinster Property, located in the counties of Wicklow and Dublin, is focused on the exploration for lithium mineralisation within spodumene-bearing granite pegmatites. The Property consists of fifteen prospecting licences, termed ‘the North-west Leinster Block’, which cover a total area of approximately 477km2, and a new Prospecting Licence (“PL”), PL1597 which was awarded on 22 March 2022. All the Property prospecting licences were granted to LRH.
The Property lies on a 135km long zone of lithium-bearing pegmatites, centred on the Aclare and Moylisha deposits which were discovered during 1960’s and 1970’s and are currently being explored by the Ganfeng – International Lithium joint venture.
Lithium mineralization on the Property has been confirmed, with spodumene bearing samples from various prospects identified within the project area: Sorrel (1.6% Li2O equivalent); Tonygarrow (1.0% Li2O); Aghavannagh (1.78% Li2O). Lithium mineralization on PL1597 has also been confirmed, with spodumene bearing samples from two boulder trains identified, the results of which will be released in the near future.
The Company and GBML plan further work programmes on the Property (including PL1597) in Q4 2022, with geological mapping, lithogeochemical sampling, ground surveying, deep overburden sampling and limited diamond drilling where warranted.
As part of an on-going workflow, the Company continues to identify, fully assess and apply for other spodumene-pegmatite exploration opportunities along the district-scale Irish lithium belt.
Alex Stanbury, CEO of Technology Minerals, said: “I am pleased that Global Battery Metals will be exercising their first option at the Leinster Property. This news demonstrates the strength of our working relationship with Global Battery Metals and underlines their faith in the potential of this project and the Irish pegmatite belt.
“It also vindicates our strategy to move early-stage mining assets up the value chain and shows the value of Technology Minerals exploration work. We look forward to continuing to work closely with Global Battery Metals, as well as our other joint venture partners, to develop our portfolio of projects focused on the critical minerals needed to power the transition to net zero.”
Enquiries
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Technology Minerals Plc |
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Robin Brundle, Executive Chairman Alexander Stanbury, Chief Executive Officer |
+44 20 4582 3500 |
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Global Battery Metals Ltd. |
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Michael Murphy BA, MBA, MSc., ICD, President & CEO |
+1 604-649-2350 |
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Arden Partners Plc |
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Ruari McGirr, George Morgan |
+44 207 614 5900 |
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Gracechurch Group |
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Harry Chathli, Alexis Gore, Amy Stupavsky |
+44 20 4582 3500 |
Technology Minerals Plc
Technology Minerals is developing the UK’s first listed, sustainable circular economy for battery metals, using cutting-edge technology to recycle, recover, and re-use battery technologies for a renewable energy future. Technology Minerals is focused on extracting raw materials required for Li-ion batteries, whilst solving the ecological issue of spent Li-ion batteries, by recycling them for re-use by battery manufacturers. With the increasing global demand for battery metals to supply electrification, the group will explore, mine, and recycle metals from spent batteries. Further information on Technology Minerals is available at www.technologyminerals.co.uk
Andrew Hore Quoted Micro 2 December 2019
NEX EXCHANGE
Coinsilium (COIN) has signed a memorandum of understanding with Devmons to set up a joint venture using Coinsilium’s existing Gibraltar subsidiary TerraStream. The company will offer blockchain software and systems development. Devmons supplies the technology development expertise. More details will be published when the agreement is signed, and it is hoped that operations will commence in the first quarter of 2020. The new venture should not need significant funds, due to advanced payments being requested when any contract is won.
Gunsynd (GUN) has entered an agreement to sell its stake in Oyster Oil and Gas to Sajawin Pty Ltd. There will be a payment of £20,000 after the signing of the term sheet and a further £240,000 to be paid in two tranches, the second of which will be payable 60 days after completion. Sajawin still has to complete due diligence and raise at least A$1.5m when it reverses into an ASX shell. Gunsynd will subscribe for A$200,000 of shares. The deal can be terminated if the conditions are not met by the end of April. Production sharing contracts for four blocks in Djibouti are not included in the transaction. George Garnett has resigned as a non- executive director of Gunsynd.
Sativa Group (SATI) is exploring the possibility of an AIM quotation. It has appointed Cenkos Securities as adviser. Management hopes that the move could happen early next year. The first batch of seedlings is being prepared for a move to the cultivation room with the first extract of medicinal cannabis set to be delivered to King’s College London before the end of 2019. That will be used in research on inflammation and respiratory conditions. Crops take 12 weeks to grow.
NQ Minerals (NQMI) says that production at the Hellyer gold mine in Tasmania is ahead of expectations, but there is room for improvement in 2020. NQ has made an additional investment of £150,000 in Tasmania Energy Metals in the form of a three-year convertible loan. NQ has an option to acquire the exploration licences and minerals processing facility that is being developed. The Barnes Hill nickel project mineral resource estimate has increased to 14.3 million tonnes grading 0.725 nickel and 0.05% cobalt.
Southern Africa-based social impact company Inqo Investments Ltd (INQO) increased its interim revenues but also made a higher loss. The Kazuko Lodge was hampered by the water shortage in the Cape Town area, but the weak Rand is boosting demand for holidays from Americans. There was an increase in honey produced by Bee Sweet Honey in Zambia. Cash in the bank improved from R12.3m to R21.2m. following a further cash injection by existing shareholders. The NAV was R179m at the end of August 2019.
AfriAg Global (AFRI) has completed the sale of its African operations. The share consolidation was completed on 29 November.
Dana Group International Investments Ltd (DANA) says that its NAV fell from $51.9m to $7.03m in the 12 months to June 2019. There was a small profit for the year and the decline in NAV came from write-downs. Trading has ended in London Capital Group Holdings and Queros Capital Partners 8% bonds 2025.
AIM
Sustainable wood products supplier Accsys Technologies (AXS) is raising €46.3m in order to fund the completion of the Tricoya plant in Hull and the fourth Accoya reactor in Arnhem. It will also finance the evaluation of an Accoya plant in the US. The cash will be raised at €1.05 a share via a placing and a one-for-seven open offer. The Hull plant could be operational in the second half of 2020.
STM Group (STM) warns that the rebranding of its UK pensions business has been delayed as it awaits regulatory approval to operate as a Master Trust for auto-enrolment. New pension applications have been lower than expected. The 2019 underlying pre-tax profit is forecast at £2.5m. Next year’s indemnity insurance payment will cost an additional £500,000.
Wilmcote Holdings (WCH) is raising up to £6.5m via a 31.199996 for one open offer at 1p a share in order to replenish its coffers while it seeks a suitable acquisition in the chemicals and other sectors. There was £7.5m in cash at the end of June 2019. Wilmcote will look at smaller acquisitions than in the past.
Online fashion retailer Sosandar (SOS) increased interim revenues by 53% to £2.82m with growth accelerating in the second quarter to September 2019. October revenues were more than £1m. Sosandar is still loss-making, but it could move into profit in 2020-21. The customer database has been significantly increased.
Parcel delivery firm DX (DX.) says its recovery continues to be on track. It expects to return to profit this year.
Cyber security services provider Shearwater Group (SWG) generated organic revenue growth of 11% in the first half. Overall revenues grew 262% to £16.3m. New managed service contracts provide revenue visibility. There was £1.68m in the bank at the end of September 2019.
A £5m fundraising at 0.15p a share will help Union Jack Oil (UJO) to finance the drilling of two appraisal wells at West Newton, where it has a 16.665% interest. There will also be a side-track well drilled at Biscathorpe.
There will be a second half shortfall in revenues at Malvern International (MLVN) with little improvement on the same period last year. Delays in approving overseas students, plus poor trading in London and Malaysia. WH Ireland has withdrawn forecasts. Cutting out Malaysian losses could enable Malvern to make a profit in 2020.
CAP-XX (CPX) is acquiring supercapacitor manufacturing assets from Murata, which a licensee of CAP-XX IP. This will boost manufacturing capacity and should improve profit. CAP-XX has raised £2.75m and an open offer could raise up to £750,000 more.
Live data systems company WANdisco (WAND) is raising $16.5m at 425p a share, which was a premium of 23% to the previous closing price. This will provide additional working capital. An existing customer has extended its relationship with WANdisco and the contract is worth $500,000.
MAIN MARKET
Interim figures from Associated British Engineering (ASBE) show improved revenues and a lower loss. That is mainly down to a better performance by British Polar Engines. The business has been rationalised and surplus space will generate revenues in the fourth quarter. The pension deficit remains a concern.
Flavourings supplier Treatt (TET) reported flat full year revenues of £112.7m, but a 5% improvement in underlying pre-tax profit to £13.3m. There was a 10% decline in citrus revenues, which was made up for by growth elsewhere. The dividend was raised from 5.1p a share to 5.5p a share. There will be increased US capacity next year.
Nuformix (NFX) is raising £1.25m at 7p a share in order to provide funds while it negotiates deals in Asia and North America for NXP002, which is focused on the treatment for human idiopathic pulmonary fibrosis. There will also be additional money spent on two other treatment programmes.
Highway Capital (HWC) had net liabilities of £908,000 at the end of August 2019. It continues to seek a suitable acquisition.
Blake Holdings is making a mandatory cash offer for Hardy Oil and Gas (HDY) having taken its stake to 42.27%. The 5p a share offer values Hardy at £3.7m.
Andrew Hore