TRADE UPDATES: Gunsynd Invests; AQRU launches crypto-backed lending

The following is a summary of updates from London-listed companies released on Tuesday and not separately reported by Alliance News:

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Tolsa USA Inc has received approval from the US Bureau of Land Management for the proposed trenching program at Sunrise’s Pioche Sepiolite project in Nevada, according to Sunrise Resources PLC, a mineral project developer based in Macclesfield, England. The recultivation guarantee has been submitted, and excavation by excavator, which is up to two kilometers long, is scheduled to begin this week. This “better exposes and samples” sepiolite deposits. Tolsa is the US subsidiary of Tolsa SA. Tolsa was given a six-month option to purchase the Pioche project for $1.3 million back in June and would pay a 3% royalty to Sunrise. The option can be extended by a further 12 months for a payment of USD 50,000 to Sunrise. Sunrise notes that their focus remains on the CS and Hazen pozzolan projects, but Pioche exemplifies their strategy of “identifying overlooked mineral opportunities” to convert them into cash and freely borne royalties, “like those that do that.” Company already holds at Junction, Garfield and Stonewall exploration projects”.

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Georgia Capital PLC – the Tbilisi, Georgia-based investor in companies in Georgia – announces the results of its tender offer for outstanding $365.0 million 6.125% Notes due 2024 for cash. The aggregate principal amount of the Notes accepted for purchase is US$29.2 million, which are subject to cancellation. Georgia Capital will also cancel an additional $35.8 million of Notes it already owns, leaving $300.0 million of Notes outstanding.

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Kavango Resources PLC – London-based mineral explorer focused on Botswana – agrees to raise £500,000 from the issuance of 27.8 million shares at 1.8p each. The shares will be issued contingently on a direct subscription by a single strategic investor, Arigo Capital Ltd. Follows Monday’s £3m capital raise to be used towards his plans in Botswana. “We are now excellently positioned to pursue our goal of making several large metal discoveries in Botswana,” said CEO Ben Turney.

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Gunsynd PLC – London-based investment company focused on the natural resources, life sciences and alcohol sector – is investing A$90,000, around £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 A$15.1 million by issuing 75.3 million shares at A$0.20 each. Gunsynd has subscribed for 450,000 shares at this price and now holds a 0.4% stake. Omega holds two exploration permits and one petroleum license in the Surat Bowen Basin of South East Queensland, Australia. For the year ended 30th June Omega reported insignificant revenues and a loss of A$2.0 million.

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Deltic Energy PLC – AIM-listed company investing in natural resources – says the operator of license P2252, Shell UK Ltd, states that it is preparing to move the Maersk Resilient drill rig to the Pensacola site, with mobilization scheduled for early November. Drilling is expected to begin mid-November at which time Deltic will provide further information.

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Cloudbreak Discovery PLC – producer of natural resource projects based in Vancouver, Canada – has decided to draw £203,500 from its £10m equity loan agreement with Crescita Capital LLC, which it entered into last February. Accordingly, 18.5 million Cloudbreak shares will be issued at 1.1 pence each. “The capital raised will be used to advance the Company’s acquisitions of energy royalty, lithium assets and bauxite projects worldwide,” the Company said.

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Lamprell PLC — the United Arab Emirates-based provider of oilfield services — confirms that its listing on London’s Main Market has been demolished when trading opens on Tuesday. The shareholders had already approved the delisting in September.

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Gaming Realms PLC – London-based developer and licensor of gaming content for mobile devices – is officially launching its content in the state of Connecticut, along with its partner DraftKings Inc. Five games are live now, with another nine to come. “Users will be able to play some of the company’s top titles including Lucky Larry’s Lobstermania Slingo, Blackjack X-Change and our collaboration with the American Cancer Society – Slingo Gems.” Notes that the US is a “significant” growth market for the company and that a “number” of new operators are planned.

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Ingenta PLC – Oxford, England-based provider of software and services to the publishing industry – is making an offer to buy 1.8 million shares at 115p each, representing around 11% of the issued share capital. A general meeting will take place on November 11th.

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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. According to the Tulu Kapi Gold Project in Ethiopia, project costs have been updated by suppliers and have included a 7% increase in capital requirements to US$320 million within the proposed syndicate. It is estimated that the money from the project will be enough to pay off the debt in the first two years. Earnings before interest, taxes, depreciation and amortization will average $127 million annually for the first seven years, with $89 million of that for Kefi’s stake. It is also planned to resume exploration of additional projects in the Tulu Kapi District prospect. Meanwhile in Saudi Arabia, the company says its operations have benefited from the Saudi government’s push to bring international expertise and rapid growth to the mining sector. Notes rapid progress in the quarter. “Going forward, the company’s Saudi assets are expected to have shorter development, permitting, financing and development timelines,” says Kefi.

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AQRU PLC – incubator for decentralized finance companies based in London – launches “BlockLender”, “a start-up company offering cryptocurrency-backed lending services. BlockLender will allow digital asset holders to access instant loans using their cryptocurrency as collateral, starting with a minimum value of $100. “While crypto-backed lending allows customers to use their digital assets to make real-world purchases, many providers have taken undue risk on people’s assets without their customers knowing. With the launch of BlockLender, AQRU brings much-needed transparency to the evolving digital asset lending market,” said CEO Philip Blows, who will also serve as Managing Director of BlockLender.

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Open Orphan PLC – the London-based research organization that tests products for infectious and respiratory diseases – confirms that the name change to hVIVO PLC will take effect on Wednesday. The company previously said it would adopt the moniker of its clinical research subsidiary, saying the name change will better reflect its core human challenge and early clinical services business.

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MGC Pharmaceuticals – Perth, Australia-based medical cannabis company – announces 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 suffering from post-acute Covid, also known as Long Covid. Administered in 10 drops twice a day for six weeks, the nutraceutical has been shown to alleviate symptoms of the long Covid associated with disability. These include pain, mental confusion, trouble sleeping, and inflammation. “The biological markers in the blood tests also showed a reduction in inflammation and enterohepatic involvement and liver response proteins,” she explains. “The clinical study showed that MGC Pharma’s ArtemiC-Rescue formulation significantly affected the external symptoms of Long-COVID, which is an excellent step forward to advance the clinical proof of the benefits of ArtemiC,” says co-founder and Managing Director Roby Zomer.

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