Central Asia Metals (CAML LN) has reported Q1 2024 production results and as a result our full year forecasts are unchanged. Output across the three metals was down QoQ and YoY due to seasonal factors while management has highlighted that higher production at Sasa is due once construction is complete.

Central Asia Metals Plc

• 09 Apr 24
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Pressure Technologies (PRES LN) has today announced two new contracts, one in defence and the other in green energy.

Pressure Technologies plc

• 14 Mar 24
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Invinity Energy Systems (IES LN), which develops Vanadium Flow Batteries (VFB) for utility scale grid storage, has provided an update on trading for the Full Year 2023 (FY 2023). IES confirms that it expects to recognise a minimum total income of £21.6m for FY 2023, a 500% increase on the prior year. We highlight this is a minimum and therefore aligned with our expectations for revenue of £24.7m in FY 2023. The Group is investing in its next-generation product, codenamed "Mistral." Additionally, they announced today that, considering receipts from existing customers, forecasted receipts from current product deliveries, and recent project wins; specifically, the scheduled Mistral deliveries for 2024 and 2025, the Company foresees having ample cash resources into H2 2024. This is very positive and key as the Group concludes strategic discussions on investment and partnership.

Invinity Energy Systems PLC

• 18 Dec 23
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Prospex Energy (PXEN LN) has published an update highlighting the strong progress made in 2023. The company successfully permitted, constructed and commissioned (along with its partner PO Valley Energy (PVE AU)) the Selva gas project in Northern Italy. This now sits alongside the producing gas to power operation in Spain; El Romeral in which PXEN has a 49.9% interest.

Prospex Energy Plc

• 18 Dec 23
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Pressure Technologies (PRES LN) a UK-based precision engineering company, produces high pressure steel cylinders through its Chesterfield Special Cylinders (CSC) division, and its Precision Machined Components (PMC) division provides specialised machining services. PRES announced today that it has reached agreement in principle with Harwood Capital LLP, as Investment Adviser to Rockwood Strategic plc (who hold a 20.0% shareholding in the Company) and Peter Gyllenhammar AB (a 16.8% shareholder) for the provision of a new £1.5m, 5-year, Term Loan Facility. The proposed facility will be used to repay its £0.9m Lloyds bank facility, transaction expenses and provide working capital. PRES has also announced that it plans to divest the PMC division - this to fund growth in CSC’s defence and hydrogen businesses. Our FY 2024 P&L estimates are unchanged, end cash estimate increased from £0.9m to £1.5m and end net cash from £0.0m to £0.5m.

Pressure Technologies plc

• 24 Oct 23
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American Lithium (LI CN) has provided an update on the TLC claystone project in Nevada, USA. Ongoing testwork has demonstrated improved lithium purity, and a reduction in leach temperatures and acid consumption while maintaining recoveries, which has positive implications for future economics. The recently published PEA demonstrated an NPV8 of US$3.26bn with unit costs of US$7,443/t, (excluding the magnesium sulphate by-product potential) and LoM average production of 38ktpa from the 11mnt LCE resource and the company indicated that optimisation of the flowsheet would be a continuous process. This announcement demonstrates positive progress with respect to this. Sierra Madre Gold and Silver (SM CN) has provided an update on progress at La Guitarra, its wholly-owned near production silver and gold mine acquired earlier this year. The update is in line with our expectations with an updated resource estimate due by year end followed by a mine restart plan including a cost study and mine plan. Currently, the company has indicated that a timeline of 20-22 months is realistic for first production.

American Lithium Corp. Sierra Madre Gold & Silver Ltd.

• 08 Sep 23
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