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TRADING UPDATES: Zenith Energy picks up two solar projects in Italy

ALN

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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Power Metal Resources PLC - metals explorer with projects in North America, Africa, Saudi Arabia and Australia - Reports that permitting and access milestones have now been achieved at its Tati gold project in Botswana. This paves the way for the start of on-site technical work. Work is expected to commence in ‘short order’, and rotary air blast drilling is planned following the completion of site preparations. ‘An extremely strong gold price environment continues to materially support the advancement of the Tati Gold Project and the potential for small-scale mining at Cherished Hope, reinforcing the economic rationale for continued investment and evaluation,’ the company says.

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Total Graphite PLC - specialist flake graphite supplier, formerly called Tirupati Graphite PLC - Says operations have resumed on site in Madagascar following the completion of the fundraising at the end of March. Extensive preparatory maintenance across the project’s processing plant and mining fleet was completed ahead of the operational restart. Meetings were held with the Ministry of Mining to brief the minister on current operations and future potential development plans, and shipments from Vatomina to port for onward delivery to international customers resumed during April. Production from PCU1 and 2 is expected to restart in the first half of June, and the company is finalising a full-year mine plan and a 12-month drilling programme to support long-term growth. Fuel supplies have remained available despite the conflict in the Middle East, but average fuel costs have risen by over 15%.

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Zenith Energy Ltd - energy production company with interests in the US, Italy, and Tunisia - Announces the acquisition of two solar development projects, both situated in Puglia in Italy, of 2.5 megawatt peak each. As part of the deal, Zenith buys a 2-hectare photovoltaic plant and a 5-hectare agrivoltaic project, both located in areas designated for solar and agrivoltaic development. Pays an average of €70,000 per hectare for the land, with payment to be made upon securing all required permits and achieving ready-to-build status at the conclusion of the development process. The deal strengthens Zenith’s solar development pipeline to a total of 183.5 MWp. Chief Executive Andrea Cattaneo says: ‘We are now approaching our target of 200 MWp and are excited to begin construction of our first site in July 2026. At the same time, we are advancing other projects towards the Ready-to-Build stage and exploring the divestment of selected assets on potentially highly advantageous terms to support further expansion.’

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Rome Resources PLC - mineral explorer with tin project in Democratic Republic of the Congo - Raises a further £390,000 via a subscription, taking total to £1.6 million. The company notes it had intended to raise £1.2 million but was approached by existing non-UK shareholders who requested to participate in the financing on the same terms. ‘Their decision to approach the company after the initial subscription and request participation on the same terms is a strong vote of confidence in the broader potential of our DRC projects following on from our most successful drilling campaign at Kalayi to date,’ says Chief Executive Paul Barrett.

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Gana Media Group PLC - London-based mobile gaming content provider - Announces a strategic partnership with Vor Interactive, a provider of AI-powered marketing and content solutions for the iGaming and sports industry. The agreement will see Estadio Deportes integrate Vor’s ‘Vor Turbo’ product across its media platforms to enhance user engagement and drive traffic to Estadio Gana’s betting operation in Mexico. ‘The Vor Turbo solution is a great opportunity to further increase our growth - at an exciting time in the market,’ says Chief Executive Mark Epstein.

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Beowulf Mining PLC - exploration for iron ore, graphite, gold and base metals in Sweden, Finland and Kosovo - Says that the consortium formed for the NordicPipe project will continue work on the project, but that it has withdrawn from the European Institute of Innovation and Technology funding programme. Concludes that the project’s objectives can be achieved ‘more efficiently, with greater flexibility, and with a lower overall cost and administrative burden’ independently from the EIT programme. The consortium, led by Jokkmokk Iron, remains committed to advancing the pipeline solution with the support of the consortium members and expects to progress this work on a timetable aligned with the broader Kallak infrastructure development.

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AOTI Inc - wound healing-focused medical technology company - Says findings from a study demonstrate a high rate of complete durable healing utilising AOTI’s intermittent TWO2 therapy as an adjunct to standard of care in hard-to-heal wounds that had failed to heal with other advanced wound care for an average of 7 months. The study encompasses 3,126 patients with broad wound types, building on previously published randomised clinical trial data and real-world evidence as to the therapy’s efficacy. The primary outcome of complete wound healing was achieved in 64.8% of patients, in a mean time of 4.2 months, despite a mean pre-treatment wound age of 7 months. The need for retreatment due to wound recurrence was only 2.7%, over a mean follow-up time of 13.9 months. TWO2 significantly reduced the rates of hospitalisations and amputations for this high-risk patient population when compared with historical norms, reporting only 3.7% and 6.1%, respectively. ‘These results build on our growing body of robust randomised controlled trials and real-world evidence validating the role our unique therapy plays in improving patient outcomes in a meaningful way,’ the company says.

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Shield Therapeutics PLC - Newcastle, England-based commercial-stage pharmaceutical company - Announces that its partner, MEDLEAP Pharma, a subsidiary of Vital KSK Holdings Inc, has confirmed its first patient enrolment for the phase II clinical trial for ACCRUFeR, a drug candidate for pulmonary arterial hypertension for patients in Japan. The trial is an exploratory study intended to support a planned Phase III trial. It follows the Pharmaceuticals and Medical Devices Agency’s confirmation of the development plan for the drug as a PAH treatment in Japan, based on the drug’s prior clinical results from trials in Europe, the UK, and the US.

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Zinnwald Lithium PLC - Europe-focused lithium company - Announces that its 100%-owned subsidiary, Zinnwald Lithium GmbH, has been granted a permit to construct an exploration tunnel to access the Zinnwald ore body that underpins the Zinnwald lithium project. Says this is an important step in the ongoing de-risking of the project, enabling the collection of ‘valuable data to inform future design and development planning.’ ‘This permit enables the first new access development to the Zinnwald ore body and underlines that the project meets the technical and regulatory requirements to successfully obtain the necessary permits from the Saxon Mining Authority,’ the company says.

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