CORRECT: Getech signs an agreement; AfriTin confirms its name change | Zonebourse

(Corrects that Zenith Energy is low in Canada, not Scotland).

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

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Getech Group PLC – a geo-energy and green hydrogen company based in Leeds, England – signs a strategic collaboration agreement with Eavor Technology Inc. The two companies will work together to locate and risk several closed-loop geothermal projects for their development in Latin America. “This exciting agreement with Eavor is an important first step in building Getech’s global portfolio of geothermal assets. By integrating our geoscientific data and geospatial/economic modeling skills with Eavor’s development technology, it will be possible to establish large-scale geothermal development assets”, comments Jonathan Copus, Managing Director.

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MGC Pharmaceuticals Ltd – Perth, Australia based medicinal cannabis company – Completes preclinical testing in rodents for its anti-inflammatory treatment CimetrA. Explains that the preclinical results are necessary for the approval of the investigational drug by the US FDA. States that no pathological or cytotoxic changes were found in organs and tissue biopsies of test subjects. “The successful completion of this study and the excellent results achieved are a significant moment for the company as we continue to advance CimetrA™ along the prescribed clinical path. The results of this study are a critical milestone in advancing our submission of MGC to the FDA, and for the final approval of CimetrATM as an Investigational New Drug in the United States,” comments Roby Zomer, co-founder and CEO.

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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 mineral resource estimate for the Hawiah project from 2.1 million tons 29.0 million tons. Receives five additional exploration licenses through the company’s Gold & Minerals Ltd joint venture in Saudi Arabia. These are the Wadi Na’afa, Al Awja, Abu Salal North, Umm Al Khabath and Jabal Selm licenses, which were awarded for an initial period of 5 years. He said Hawiah drilling will begin in the second quarter of 2023 and that he aims to increase the ERM. “With our gold projects progressing rapidly in Ethiopia and Saudi Arabia, where we are heading towards stable production from 2025, we are delighted to have been awarded these five additional exploration licenses in Saudi Arabia to further expand the portfolio of KEFI GMCO,” commented Executive Chairman Harry Anagnostaras-Adams.

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Namibia-focused tech metals company AfriTin Mining Ltd confirms it is changing its name to Andrada Mining Ltd. The name change will be effective from January 11, 0800 GMT. “I am delighted to confirm the company’s name change and we look forward to rebranding ourselves as Andrada Mining. The potential size of the Company’s lithium resources in Namibia is extremely exciting, and the name change reflects its importance to our profile. production, beyond our existing tin operation. We look to the future with great enthusiasm, as Andrada Mining plays its part in the energy transition”, commented CEO Anthony Viljoen.

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Zenith Energy Ltd – a Calgary, Canada-based energy company with production, exploration and development assets in Tunisia, Italy and the Republic of Congo – says the Republic of Benin’s Minister of Water and Mines granted an exclusivity for Block 1 containing the Seme oil field, off the coast of Benin. “Block 1 represents a potentially transformative development opportunity for Zenith due to its considerable untapped potential, indicated by its independently assessed oil and gas reserves and past production, as well as the field’s existing infrastructure. We see Benin as an attractive jurisdiction for foreign investment and we look forward with great enthusiasm to working closely with local authorities to successfully formalize the PSC,” comments Andrea Cattaneo, Managing Director.

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Kropz PLC – African phosphate developer – estimates its total Elandsfontein phosphate resources in South Africa to be 106.6 million tonnes. Reports a proven reserve of 7.31 million tons of 10.7% phosphorus pentoxide. Reduces a large portion of its previously “indicated” measured resources and “inferred” previously “indicated” resources. Note that the total tonnages of measured and indicated resources have decreased by approximately 76%. “While the downgrading of the Measured and Indicated Resources is disappointing, it allows Kropz to move forward with a significantly increased level of confidence, which will allow for accurate and efficient mine planning. The increase in the Total Resource, and more importantly, the increase in grade, supported by the additional drilling program is great news, and the continued drilling planned for the coming year will further increase confidence, and support an increase in reserve tonnes.” CEO Mark Summers.

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Dekel Agri-Vision PLC – a producer of palm oil and cashew nuts in West Africa – reports that its crude palm oil production for 2022 is down 36%. For the month of December, it reports a drop of 20%, year-on-year. Note that 2022 is a record year for the price of palm oil. Says the average crude palm oil price in 2022 is €1,025, up 18% from €868 year-on-year. Expects this to be one of the best performing years since its inception. “With the annual peak season set to begin soon, we expect to see improved harvest volumes of fresh fruit clusters. With prices still robust, we are well positioned to see a strengthening of financial profitability. palm oil development to ensure that our shareholders are well informed during this exciting time for the company,” said Chief Executive Lincoln Moore.

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Thor Explorations Ltd – Vancouver-based mining explorer with assets in West Africa – reports that its gold production for the Segilola gold mine is at the upper end of the guidance range of 90,000 to 100,000 ounces for 2022, with production of 98,006oz. Completed a reverse circulation drilling campaign of 26,000 meters in Douta. Made a new discovery with Prospect Sambara. Guide for 85,000 to 95,000 oz of gold weighted towards the second half of 2023 as a whole. We are working to move this project forward to development. Now that Segilola is in a stable operating state, the company is also focusing on our growth strategy in Nigeria, where we have an aggressive drilling program on a number of targets. and continue to evaluate potential opportunities, to leverage our technical capabilities and leading edge,” commented Segun Lawson, President and CEO.

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Central Asia Metals PLC – a copper, zinc and lead explorer operating in Kazakhstan and North Macedonia – reports record Kounrad copper production, above its forecast range, with 4,254 tonnes of copper produced. Sasa zinc and lead production is in line with forecasts, with zinc in concentrate production of 21,473 tonnes and lead in concentrate production of 27,354 tonnes. Guides for Kounrad’s copper production of between 13,000 and 14,000 cathode tons in 2023. “We are entering 2023 in a debt-free position and look forward to delivering another year of strong base metal transition to the Sasa cut and fill mining method,” comments CEO Nigel Robinson.

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IQ-AI Ltd – Jersey based medical services company – Reports “significant progress” in phase I clinical trial of gallium maltolate. In addition, she is more focused on accelerating the rollout of IB Clinic. IB Clinc is a toolkit of post-processing software plug-ins designed to be integrated into existing medical image viewing applications.

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By Abby Amoakuh, Alliance News reporter

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