Roast News Service - RNS - Monday 10 March 2025
#SVML #CMRS #NFM #POW #POLX #DKL #DEC #EEE #SURE #ROQ #CORA #VRS #MARU
Sovereign Metals (AIM:SVML) announced outstanding purification results for coarse flake graphite from its Kasiya Rutile-Graphite Project, achieving battery-grade purities of 99.95% via acid purification and an exceptional 99.98% using alkaline purification—far exceeding the >99% target required for high-end applications such as powder metallurgy, isostatically pressed refractory products, and high-purity expandables. Conducted by ProGraphite GmbH, the testwork confirms Kasiya’s premium-quality graphite, which is amenable to alkaline purification, reducing reliance on hydrofluoric acid, a costly and hazardous reagent. This flexibility could lower reagent consumption for standard >99% purity products or enable the production of ultra-high-purity graphite, offering significant commercial optionality for future customers.
@sovereignmetals
Critical Mineral Resources PLC (LSE:CMRS) has secured a £2.5 million investment from Gilini Holdings Ltd to fund project acquisitions, expand its commodities trading venture, and support its Moroccan-focused exploration and development. The first £425,000 has been received as convertible loan notes (CLNs) at 1.1p per share, maturing in 2028 with a 15% interest rate and attached warrants. The remaining £2.075 million will be provided in two tranches: £1.325 million in Q2 2025 (£825,000 in equity at 1.45p and a £500,000 convertible loan at 5% interest) and £750,000 in Q1 2026 at 1.53p per share. Funding is contingent on CMR securing a development project in Morocco, likely in copper or manganese. The investor may accelerate funding based on capital needs, ensuring shareholding remains below 29.9% to avoid a mandatory takeover offer. CEO Charlie Long welcomed the investment as a catalyst for CMR’s growth, while Russell Tucker of Gilini Holdings highlighted Morocco’s copper potential and CMR’s leadership as key factors in their decision.
New Frontier Minerals Ltd (LSE:NFM) has agreed to sell its wholly owned subsidiary, BHA No. 1 Pty Ltd, which holds the non-core Broken Hill East Project, to Impact Minerals Limited (ASX: IPT) for $275,000 in IPT shares, based on a 14-day VWAP of $0.0073 as of 7 March 2025. These shares will be subject to voluntary escrow, with one-sixth released monthly over six months. IPT will also assume responsibility for a 2% net smelter return royalty on BHA’s tenements. The transaction is expected to complete on or around 10 March 2025. This marks NFM’s third non-core asset sale in 18 months, allowing the company to focus resources on developing its core Harts Range and NWQ Copper Projects. The company intends to retain its final non-core asset, the Mkushi Copper Project in Zambia, until a suitable development partner is secured. Chairman Ged Hall emphasized that the strategy of patient asset divestment has enabled NFM to maximize value, with proceeds being reinvested into advancing key projects.
@NewFrontierMin
Power Metal Resources PLC (AIM:POW) has agreed to extend the deadline for signing a binding agreement with Al Masane Al Kobra Mining Company (AMAK) by three months, following discussions on outstanding legal processes. Under the Letter of Intent (LOI) announced on 9 December 2024, Power Metal plans to invest $3 million to earn a 49% stake in the Qatan exploration licence in southern Saudi Arabia. While the LOI remains non-binding, both parties are confident that the agreement will be finalized within the extended timeframe. Further updates will be provided as appropriate.
@PowerMetRes
Polarean Imaging plc (AIM:POLX) has successfully expanded its Xenon MRI imaging service model for pharma-sponsored research in partnership with VIDA Diagnostics. This expansion is highlighted by its selection by a leading global pharmaceutical company to support a Xenon MRI sub-study within a worldwide multicenter clinical trial for an investigational lung therapy. The trial, set to begin in Q4 2025 at selected U.S. and Canadian sites, will evaluate drug-induced changes in alveolar gas exchange using Xenon MRI, providing critical insights into lung function. This revenue-generating model builds on prior pharma partnerships, positioning Xenon MRI as a powerful tool for pulmonary drug development by offering non-invasive, radiation-free imaging with greater sensitivity than traditional lung function tests. CEO Christopher von Jako emphasized that pharma-sponsored trials represent a key growth area, leveraging Polarean’s collaboration with VIDA to enhance the adoption of Xenon MRI in respiratory medicine and accelerate drug development. Chief Business Officer Alex Dusek highlighted that this milestone strengthens Polarean’s position in pharma research, expanding the Xenon MRI network and supporting new therapeutic advancements.
@PolareanImaging
Dekel Agri-Vision Plc (AIM:DKL) reported strong February 2025 results for its Ayenouan palm oil project in Côte d'Ivoire, with CPO sales volume up 28.5% and prices rising 25.2% to €950 per tonne, leading to an expected revenue increase of over 70% year-on-year. PKO prices surged 54.4% alongside a 176.9% rise in sales, driven by strong international market trends. While CPO production dipped slightly by 5.7%, the extraction rate improved to 21.9%. The Cashew Operation also continues its positive momentum, with procurement of an initial 2,500 tonnes of raw cashew nuts underway to support increased production in 2025. Executive Director Lincoln Moore highlighted the strong market conditions and expects both operations to deliver significantly improved financial performance, including the Cashew Operation achieving its first-ever EBITDA-positive year.
@DekelAgriVision
Diversified Energy Co. PLC (LSE:DEC), FuelCell Energy, Inc. (NASDAQ: FCEL), and TESIAC have announced a strategic partnership to supply up to 360 megawatts of net-zero power to data centers in Virginia, West Virginia, and Kentucky. The partnership will establish an Acquisition and Development Company (ADC) to deliver reliable, cost-efficient power using natural gas and captured coal mine methane (CMM). Diversified Energy will provide the fuel, FuelCell Energy will deploy its fuel cell technology for high-efficiency power generation, and TESIAC will secure financing to accelerate deployment. The electrochemical process used will convert methane into hydrogen and then electricity without combustion, reducing emissions and qualifying for environmental and tax credits. The initiative aims to create a decentralized, high-performance energy solution that ensures continuous power for data centers, with optionality to sell into the grid. The project is expected to generate significant economic benefits, including job creation in construction, operations, and engineering. The companies will share further details on project timelines and developments soon.
@DiversifiedE
Empire Metals Limited (LSE:EEE) has announced successful results from its titanium dioxide (TiO2) product development testwork at the Pitfield Project in Western Australia. Preliminary testwork has produced a high-purity TiO2 product assaying at 91.6%, free of deleterious impurities and suitable for titanium sponge metal or high-grade pigment production. Ongoing testwork aims to refine the metallurgical process and further enhance product quality. Bulk metallurgical samples are being collected to support the company’s product marketing strategy. Managing Director Shaun Bunn highlighted the breakthrough achievement and the rapid progress in developing the processing flowsheet. The next phase will focus on improving process efficiency through further bench-scale testing, leading to industry-scale trials and pilot plant design.
@Empiremetalsltd
Sure Ventures PLC (LSE:SURE) has announced the sale of its entire position in cybersecurity firm Visibility Blockchain Limited ("Getvisibility") to Forcepoint, generating a gross cash inflow of £1.52 million. The sale, expected to deliver a c4.5x return on Sure Valley Ventures Fund 1’s total investment, remains subject to customary conditions. As of 31 December 2024, Sure Valley Ventures’ direct investment in Getvisibility was valued at €7.024 million on an unaudited basis. The proceeds will be used to pay down debt, ensure adequate working capital, and fund a shareholder dividend in line with investment trust tax rules. Director Gareth Burchell highlighted the success of the sale and confirmed that SVV Fund 1 is now in "exit mode," with future exits expected to enhance shareholder returns through additional dividends.
@SureVenturesPlc
Roquefort Therapeutics (LSE:ROQ) has signed a term sheet for the proposed sale of its wholly owned subsidiary, Oncogeni Ltd, to Nations Trust Holding LLC for up to $12 million in cash, including upfront and milestone payments. The parties aim to finalize a binding share purchase agreement within 60 days. Oncogeni holds exclusive licenses for Mesodermal Killer cell (MK) and STAT-6 siRNA patents, which Roquefort Therapeutics has developed since acquiring Oncogeni in 2022 for £5 million in shares. CEO Ajan Reginald highlighted the transaction as a key milestone in the company’s strategy to acquire and develop pre-clinical assets and then realize value through trade sales. Further updates will be provided as the agreement progresses.@RoquefortTherap
Cora Gold Limited (AIM:CORA) has welcomed the Mali government's decision to partially lift the suspension on mining title allocations, effective 15 March 2025. The government will now process renewals of exploration and exploitation permits, applications to transition from exploration to exploitation, and transfers of operating permits, though new mining titles and exploration permit transfers remain under suspension. Cora sees this as a major positive step for its Sanankoro Gold Project, where it aims to secure a mining permit and advance towards mine development. With key permit areas re-drawn, the company plans to submit an application for the Sanankoro Mining Permit, covering parts of the Bokoro II, Kodiou, and Sanankoro II exploration permits. CEO Bert Monro emphasized the project's strong development potential, backed by an updated 1Moz mineral resource estimate and an anticipated revision to the 2022 DFS. Cora remains focused on progressing permitting and moving swiftly into construction.
@cora_gold
Versarien Plc (AIM:VRS) has signed a two-year supply agreement with Montana Química LTDA to provide its proprietary graphene dispersions and formulations (Graphinks™). This builds on the existing manufacturing, know-how, and technical assistance agreements announced in March 2024. Montana, a multinational company specializing in paints, wood preservatives, and coatings, plans to use Graphinks™ in applications such as construction, composites, coatings, and lubricants. The agreement adds to Versarien’s existing royalty arrangement, which grants the company 5% of Montana’s total sales revenue from products using Versarien’s technology, with a minimum royalty of £25,000 per year. CEO Dr. Stephen Hodge highlighted the strengthening partnership, noting Montana’s establishment of its advanced materials unit, SOMA, in November 2024 and upcoming business development meetings in the UK in May 2025.
@versarien
Marula Mining (AQSE:MARU) has provided an update on its first copper concentrate sales from the Kinusi Copper Mine in Tanzania’s Dodoma Region. Executives from Takela Mining Tanzania Limited have finalized logistics with a buyer, detailing the arrival of trucks, sampling procedures, and loading processes. Over the weekend, material loading and check sampling commenced, with a provisional payment of 90% of the estimated value expected by the end of next week, based on grade, tonnage, and prevailing copper prices. The remaining balance will be settled after final grade and weight confirmation. Mining operations continue in the expanded No. 4 Open Pit, with stockpiling and processing ongoing to complete initial copper sales within this quarter.
@MarulaPlc
DAILY ROUNDUP Pre-Market Open
London stocks are poised for a higher open on Monday, recovering from last week's losses despite mixed trading in Asia following weak Chinese inflation data. FTSE 100 futures suggest a 25.8-point rise to 8,706.00 after closing slightly lower on Friday, capping a 1.5% weekly decline. The pound edged lower to USD1.2913, while the euro and yen also slipped against the dollar. Oil prices dipped, with Brent at USD70.10 a barrel, and gold eased to USD2,912.33 an ounce. In Asia, the Shanghai Composite fell 0.2%, and the Hang Seng dropped 1.8%, while Tokyo's Nikkei 225 gained 0.4%, and Sydney's ASX 200 rose 0.2%. China's consumer inflation fell 0.7% in February, marking its first deflationary reading in a year and surpassing forecasts of a 0.4% decline, reversing January’s Lunar New Year-driven uptick. Analysts remain concerned about ongoing weak domestic demand despite government stimulus efforts. In the US, Wall Street closed higher Friday, with the Dow up 0.5%, the S&P 500 rising 0.6%, and the Nasdaq gaining 0.7%. Federal Reserve Chair Jerome Powell signaled no urgency to adjust interest rates, citing uncertainty over President Trump’s economic policies, particularly tariffs. Market analysts warn that fluctuating tariffs and a shifting labor market could weigh on business and consumer confidence, while the Fed must navigate inflation risks carefully. Monday’s economic focus includes German industrial output data, while UK corporate updates feature annual results from Clarkson.