Proactive news headlines: Argo Blockchain, Remote Monitored Systems United Oil and Gas, Plexus …

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Argo Blockchain PLC (LON:ARB) said it will co-lead an investment into Luxor Technologies, a management platform designed to maximise earnings for cryptocurrency miners. The AIM-listed crypto firm said as part of the deal it will invest US$100,000 into Luxor, which the investee will then use to make several key engineering hires to strengthen the development of its hashrate management platform and build out its proof-of-work software infrastructure.


Remote Monitored Systems PLC (LON:RMS) said it has noted shareholder concerns and has unveiled a number of changes to its board that it says are expected to be completed within a few weeks. The AIM-listed group said it intends to appoint Alex Vergopoulos as an executive director of RMS with responsibility for its subsidiary Pharm 2 Farm Limited (P2F), of which he is a director.


United Oil and Gas PLC (LON:UOG) shares rose on Wednesday as the company said the ASH gas pipeline has been completed at the Abu Sennan licence in Egypt, in which it holds a 22% interest. The AIM-listed company said the pipeline, which links the ASH field to gas processing facilities at El Salmiya, was completed on time and under budget and successfully brought onstream on December 27. United added that over the last two days the pipeline has delivered an average of 5.45mln standard cubic feet per day (MMscf/d) of gas, around 1,090 barrels of oil equivalent per day (boepd), equating to an additional 1.2MMscf/d (240 boepd) to its own working interest and in line with expectations.


Plexus Holdings Plc (LON:POS) finance director Graham Stevens has said the best days for the firm’s POS-GRIP technology “lie ahead” in an update to investors at the company’s AGM on Wednesday. In the statement, Stevens highlighted the company’s “proven disruptive technology” and that POS-GRIP “delivers true and verifiable leak-proof HG metal-to-metal seals and generates considerable cost savings for operators due to reduced installation and downtime”. In a separate statement, Plexus announced that at the annual general meeting held today which was held as a closed meeting as a result of the coronavirus pandemic and at which the required quorum was present, each of the resolutions set forth in the Notice convening the meeting were passed. The chairman of the meeting demanded a poll of votes on all of the resolutions proposed, each of which were passed by an excess of votes cast in favour of the requisite majority.


Chaarat Gold Holdings Limited (LON:CGH) has entered into an agreement to refinance the outstanding US$7mln of an investor loan originally made in November 2018. The refinancing includes US$0.2mln of accrued interest with the terms a reduction in the coupon to 9.5% and an extension of the maturity date until 31 December 2024.


Ncondezi Energy Ltd (LON:NCCL) shares rose on Wednesday as the company said it has submitted a third party Power Market Outlook Study (PMOS) and an updated Feasibility Study to Electricidade de Mocambique (EDM) for its 300-megawatt coal-fired power project and coal mine in Mozambique. The AIM-listed firm said the PMOS “confirms the project as one of the most advanced and credible baseload power supply options in Mozambique and one of the most competitive coal projects in the region”, and that the submission of both studies represented the last outstanding requirement from EDM following submission of the project power tariff in March. Ncondezi added that it has held meetings with EDM and departments in the Mozambique government to present the studies.


Powerhouse Energy Group PLC (LON:PHE) said it has established an environmental social and governance (ESG) committee with an aim to “integrate sustainability best practice into all decision-making” and support the development of the company’s technology to help accelerate the UK’s clean energy transition. The company, which specialises in technology that produces hydrogen from waste plastic, said the ESG committee will ensure that it “promotes achievement of the UN Sustainable Development Goals throughout its business”, with particular scrutiny applied to greenhouse gas emissions caused by the firm’s own activities as well as those of its suppliers and customers in order to achieve continuous performance improvements.


Pure Gold Mining Inc. (CVE:PGM) (LON:PUR) has announced that first gold was poured at the company’s high-grade PureGold Mine, in Red Lake, Ontario on December 29, 2020, following the introduction of ore to the mill on December 15. “Today, the PureGold Mine has come to life. With our first gold pour, we have transitioned to producer, and delivered on our promise to build Canada’s newest gold mine in the heart of Red Lake Ontario, on budget and on schedule,” said Darin Labrenz, president and CEO of PureGold in a statement.


Touchstone Exploration Inc (LON:TXP) said it has extended the term of its lease operatorship agreements (LOAs) with Heritage Petroleum Company Limited for its Coora-1, Coora-2, WD-4 and WD-8 blocks in Trinidad & Tobago to March 31, 2021. The AIM-listed oil and gas firm added that the LOAs, which were initially due to expire on December 31, 2020, have been extended under the existing terms and conditions while the two firms continue to progress negotiations regarding new 10-year LOAs for each property.


Bahamas Petroleum Company PLC (LON:BPC) said following its announcement on December 29 that the Supreme Court of The Bahamas had rejected a request to halt drilling activities at the Perseverance #1 well, a hearing of the court for a renewed application for judicial review of the well’s environmental authorisation has been delayed to December 30 from its original date of December 29. In addition to those matters to be addressed at this hearing, the AIM-listed firm said the lawyers acting for the applicants have also sought leave to amend their application to add the Town Planning Committee as a further respondent, and this additional application will also be considered at the rescheduled hearing.


Power Metal Resources PLC (LON:POW) said the maiden drill programme targeting the discovery of nickel and platinum group metals (PGM) is now underway at the Haneti nickel project in Tanzania. The AIM-listed explorer, which owns a 35% stake in Haneti, said the programme involves 2,000 metres of Rotary Air Blast (RAB) drilling with a planned 50 holes to circa 40 metres depth per hole.


Canadian Overseas Petroleum Limited (LON:COPL) said it has raised gross proceeds of GBP6mln through a non-brokered private placement of units with institutional investors, family office, high net worth private investors, its chief executive and directors to help fund its purchase of Atomic Oil and Gas. The company said it has raised the funds through the placing of units at 0.2p each, a 35% discount to its last closing price, with each unit including one share in the firm and one half of one warrant, with a whole warrant entitling the holder to purchase a share at 0.26p for 12 months from the settlement date of the placing.


Power Metal Resources PLC (LON:POW) the AIM-listed metals exploration and development company said it has received notices to exercise warrants over 2,500,000 new ordinary shares of 0.1p each, comprising 1,500,00 warrants at an exercise price of 1.0p per ordinary share and 1,000,000 warrants at an exercise price of 0.75p per ordinary share. Subscription monies of GBP22,500 have been received by Power Metal in respect of these exercises.


Empire Metals Limited (LON:EEE), the AIM-quoted resource exploration and development company, announced that it has received approval from the Australian Foreign Investment Review Board to proceed with the acquisition of the Eclipse Gold Project, located 55 kilometres north-east of Kalgoorlie, Western Australia. The final condition precedent is Ministerial Consent which is expected to be received shortly.


European Metals Holdings Limited (LON:EMH) (ASX:EMH) has announced the arrangement of a further funding agreement with 6466 Capital Limited. The agreement allows for the draw-down of up to A$1mln in tranches as required over 12 months. Any funds drawn down will convert to CDI‘s in the company at a price equal to a 15% discount to the 10-day volume-weighted average price of the company’s securities. The issue of shares pursuant to draw-downs is not subject to shareholder approval.


Kodal Minerals PLC (LON:KOD), the mineral exploration and development company, said it has received a conversion notice in relation to its US$1.5mln unsecured convertible loan agreement with Riverfort Global Opportunities PCC Limited and YA II PN Ltd, details of which were announced on July 15, 2020. The group said the investors have elected to convert a total amount of $150,809.59 (equivalent to GBP111,704.66), made up of a principal amount of $150,000.00 and accrued interest of $809.59, into 176,190,315 new Kodal ordinary shares of 0.03125p each, at a price of 0.06340p per ordinary share.


Corcel PLC (LON:CRCL), the natural resource exploration and development company with interests in battery metals and flexible grid solutions announced that all resolutions put to shareholders at its annual general meeting held on Wednesday were duly passed on a show of hands.


Block Energy PLC (LON:BLOE), the development and production company focused on Georgia, announced that, at its general meeting held on Wednesday, both resolutions were passed with 99.90% of votes cast in favour. The company confirmed, therefore, that 176,000,000 new ordinary shares of 0.25p each have today been allotted to existing and new investors at an issue price of 3p per ordinary share.


Genedrive PLC (LON:GDR), the near-patient molecular diagnostics company, announced that at its annual general meeting, held on Wednesday, all resolutions proposed were duly passed.


Ariana Resources PLC (LON:AAU), the AIM-listed exploration and development company operating in Europe, announced that at its general meeting held on Wednesday, the resolution put to shareholders was duly passed with 100% of shares voted in favour.


Eco (Atlantic) Oil & Gas Ltd. (LON:ECO) (CVE:EOG), the oil and gas exploration company with licences in highly prospective regions in Guyana and Namibia, announced that all resolutions were duly passed by shareholders at its annual general meeting on Wednesday.


Asiamet Resources Limited (LON:ARS) said that, further to its announcement on December 24, 2020, a general meeting of shareholders will be held at Level 22, 303 Collins Street, Melbourne, Australia at 5.00pm (Australia Eastern Standard Time) on January 29, 2021. The purpose of this meeting is to put forward a resolution to shareholders for the proposed disposal of Indokal Limited, the 100% owner of the Kalimantan Surya Kencana Contract of Work, located in Central Kalimantan, Indonesia. The proposed disposal has been previously announced on October 8, 2020, and December 24, 2020. If shareholders have any questions they are invited to submit them by email to [email protected] by 10.00am (British Standard Time) on January 25, 2021. It added that Asiamet executive chairman, Tony Manini will provide a corporate update following the general meeting.

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