(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Resolute Mining Ltd - Perth, Australia-based, Africa-focused gold miner - Scoping study for the ABC project in Ivory Coast confirms its strong economic potential. "It outlines a robust, long-life operation with attractive economics and meaningful potential upside from further resource growth and exploration success," Resolute Mining says. Study shows output profile of 141,000 ounces of gold per year for 12 years, delivering total gold production of 1.7 moz at a life-of-mine all-in sustaining cost of USD1,614/oz, supporting "robust operating margins." Study also shows strong early cash flow generation with average annual gold production of 163,000 oz over the first five years at an AISC of USD1,565/oz using a gold price assumption of USD3,500/oz. Net present value at 5% discount rate is USD1.2 billion, with an internal rate of return of 39%, and 1.4-year payback at a gold price assumption of USD3,500/oz. Next steps include accelerating drilling efforts with a focus on infilling resource as well as resource expansion and optimising metallurgical testwork to increase recovery rates of the deposits. "Building on the strong results from the ongoing step-out drilling at the Kona South and Central deposit, we are confident the Project has potential to grow and become more commercially attractive," says Chris Eger, managing director and chief executive.
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Kelso Group Holdings PLC - investor in London-listed companies - Plans to raise GBP650,000 via a placing and subscription at 3.0 pence per share. Says since announcing full year results in April, it has seen further growth in its investments, resulting in its estimated net asset value per share increasing to 2.7 pence per share, as of May 11, an increase of over 17% during 2026. As of May 11, the estimated unrealised pretax profit in the business is GBP2.3 million, up GBP1.5 million since the start of the year. Kelso plans to use the proceeds to expand its current investment portfolio into "identified opportunities which the board believes will improve the balance of risk versus reward". Also announces that Cavendish Capital Markets Ltd has been appointed as joint broker with immediate effect.
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Premier African Minerals Ltd - mining company based in Togo - Completes a GBP1 million subscription and updates on commissioning progress at its Zulu lithium project. The mining company says the majority of cold commissioning work at the Zulu spodumene flotation plant has now been completed and it is preparing to transition into hot commissioning activities. Adds the latest subscription was completed at an issue price of 0.0185p per share.
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Chill Brands Group PLC - London-based distributor of fast-moving consumer products such as tobacco alternatives and functional beverages for sale via convenience stores - Says it is engaged in a number of early-stage conversations regarding potential partnerships, investment opportunities and transactions that would create value for shareholders. These include, discussions in respect of extending the digital platform portfolio as disclosed in April. Chill Brands says it believes the Main Market listing is capable of delivering more than its current scale allows and its ambition is for the public company to be "larger and more diversified" in its activities, and it regards the listing itself as a platform for achieving that. "No course of action has been determined and no commitments have been made," it adds.
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Panther Metals PLC - Canada-focused mineral deposits exploration company - Vibracore sample assay results for the Winston Tailings project show good grade consistency and support or exceed prior findings, company says. The sampling is in support of the mineral resource estimate programme. Chief Executive Darren Hazelwood says: "These final, remarkably consistent and exciting assay results mark the completion of the on-the-ground tailings sampling work at Winston and the Vibracore results are feeding into the Mineral Resource modelling and estimation, and metallurgical recovery work streams." He adds: "The next phase of groundwork will be relatively low-cost, and will concern the engineering design for the exploitation and reprocessing of the tailings, in support of our mining recovery permit application."
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Guardian Metal Resources PLC - London-based mining company targeting tungsten in Nevada - Says that it is evaluating near-term resource and tungsten production opportunities relating to historical mine tailings present at the Tempiute tungsten project in Nevada. As a critical defence metal, tungsten has been designated as a strategic priority by the US government and Guardian Metal's aim is to establish its co-flagship tungsten projects as the cornerstone of US mined tungsten supply. Chief Executive Oliver Friesen says: "Our initial assessment has confirmed the presence of tungsten across a substantial surface footprint. As a result we are advancing towards an auger drilling program which will help us better understand the characteristics of the material subsurface."
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Maintel Holdings PLC - London-based provider of communications services - Raises GBP5 million via placing of shares at 80 pence each and the issue of convertible loan notes. Placing will raise around GBP3 million and CLN issue around GBP2 million. In addition, looks to raise a further up to GBP1 million via retail offer at the same price. Proceeds will be used to strengthen the balance sheet and provide sustainable working capital resourcing to support delivery of newly signed projects, enhance tendering capability, improve procurement terms and payment performance, and enable the full roll‑out of the company's Transformation programme. The placing is being undertaken by Cavendish Capital Markets Ltd.
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Great Southern Copper PLC - Says scout reverse circulation drilling has commenced on the Artemisa North porphyry copper target at the Especularita project, while drilling recently completed at the nearby Piedras Blancas target has confirmed evidence of a strong porphyry copper-style alteration system. At Artemisa, says four holes are planned to target interpreted phyllic alteration system plus test beneath historical copper workings. Rock chip geochemistry results from mine workings grade up to 1.21% copper, 0.6 grammes per tome g/t gold and 201 parts per million Molybdenum. At Piedras Blancas, says four holes drilled for 574 metres. All holes successfully intersected strong porphyry type phyllic alteration. "Drilling is progressing well and, importantly, the alteration and mineralisation observed in the initial Piedras Blancas holes has provided encouraging support for our porphyry copper exploration model at La Colorada including recognition of both phyllic and potassic styles of alteration," says Chief Executive Sam Garrett.
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By Jeremy Cutler, Alliance News reporter
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