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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Wheaton Precious Metals Corp - Vancouver-based investor in precious metal mining through royalty and streaming deals - Reports 2021 gold equivalent production of 750,220 ounces, in line with guidance due to strong performances from the Penasquito and Antamina, more than offsetting challenges at other mines. For 2022, expects production of 700,000 to 760,000 gold equivalent ounces.
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Mila Resources PLC - natural resources company - Team for the Kathleen Valley gold project in Australia have mobilised on site, with final preparations complete as the company prepares to restart drilling as part of the 13,500 metre programme. Drilling will focus on the Coffey Deposit, with results expected late in the first quarter of 2022.
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Cobra Resources PLC - Wudinna gold project in South Australia - Following 14-hole phase of reverse circulation drilling on the Clarke prospect, additional results show that further gold mineralisation has been intercepted within the northern drill transect, while additional rare earth elements have been intercepted above and proximal to gold interceptions.
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Brown Advisory US Smaller Cos PLC - investment trust formerly known as Jupiter US Smaller Cos - As at December 31, net asset value per share increases 0.9% to 1,530.47 pence from 1,516.34p at end of June. The increase compares to a 0.5% fall from the company's benchmark, the Russell 2000 total return index, which Brown Advisory attributes to stock selection, particularly in the Healthcare sector, as well as a positive return from Information Technology.
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Bezant Resources PLC- copper-gold exploration and development company - Following all-parties technical visit to review the Hope and Gorob project in Namibia, consensus to optimise project development has been met. Engineering consultant Practara Pty Ltd has made several recommendations aimed at including near-surface mineralisation into the Resource Model, while plant design consultants will work on high-level design referencing project throughput, ore types, scheduling and life of mine. The current 2,000m drill programme objectives are to be realigned with the mining licence application process.
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President Energy PLC - Leeds-based oil & gas company focused on Latin America - Well DP-2001 at the Dos Puntitas field within the Puesto Guardian concession in Argentina is now in production and flowing the first commercial oil. The well is currently cleaning up and producing 90% oil with little water. The second well, DP-2003 is being tested with results on-track to be announced by the end of week.
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Vaalco Energy Inc - Houston-based hydrocarbon exploration company - Etame 8H-ST well has been placed on production with a lateral of 162 meters in high quality Gamba sands, at an initial flow rate of 5,000 gross barrels of oil per day. For the fourth quarter of 2021, Vaalco expects revenue to reach USD57 million, and USD200 million for the year as a whole. Looking ahead, expects new production from its current drilling programme to help drive additional cash flow in 2022.
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Water Intelligence PLC - London-based leak detection services - For 2021, earnings before interest, tax, depreciation and amortisation rises 44% to USD9.5 million from USD6.6 million the year before, on revenue which grows 44% year-on-year to USD54.5 million from USD37.9 million, due to increased demand from the rising price of water, extreme weather conditions and upsales of new offerings.
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Tlou Energy Ltd - power company focused on sub-Saharan Africa - Notes that work at the Lesedi power project in Botswana is due to start on the transmission line and substations to connect the project to the electricity. In addition, Tlou has also received a 10 megawatts electricity generation licence from the Botswana Energy Regulatory Authority, which has a term of 15 years.
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EPE Special Opportunities Ltd - investment firm - As at January 31, net asset value per share is 455.66 pence, a 4.1% increase from 437.63p the same period a year before, driven by strong performances from investees Luceco PLC and The Rayware Group.
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SulNOx Group PLC - London-based supplier of fuel conditioners - Looking ahead, the company is pursuing an admission for SulNOx shares on the OTC Market in the US, which would provide instant access to US investors and help drive brand recognition. SulNOx is also seeking certification from several sources, including B-Corp and Lloyds Register.
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Premier African Minerals Ltd - southern Africa-focused miner - At the Zulu lithium and tantalum project, 6,000 meters have been drilled to date, with mineralisation and early results suggesting important on-strikes extensions to the main ore body. Also, the company signs a non-binding heads of terms agreement with an unnamed lithium manufacturer for a direct investment into the project.
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By Dayo Laniyan; dayolaniyan@alliancenews.com
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