The company said the decline project to Level 19 is progressing on schedule and the company has commenced mining fresh higher grade ore at the polymetallic mine in Romania.
Mining and concentrate production has and will continue uninterrupted during this development phase at Baita Plai, with underground production currently focused on Levels 17 & 18 in addition to the new mining area on Level 19, the company said.
9.55am: ValiRx’s quarterly cash burn running at around £350,000
The clinical stage drug development company said its cash balance at the end of March stood at £1.5mln, versus a balance of £1.85mln at the end of 2020, implying a quarterly cash burn of £350,000.
The pre-reenue company saw its loss before tax narrow to £1.54mln in 2020 from a loss of £2.72mln in 2019.
9.05am: New leading light in the cast at Chamberlin
The specialist castings and engineering group said it has made good progress with its restructuring and as part of this process Kevin Price, currently the operations director of the group’s foundry and machining facility, will take over chief executive officer (CEO) duties.
The current CEO, Kevin Nolan, will retain responsibility for key projects and client accounts.
The company told investors the findings of the analysis of sidewall cores, cuttings, mud gas and fluid samples from the Merlin-1 well are expected in the next two to ten weeks.
The oil producer detailed a series of results scheduled over the period including core photography and geological descriptions in two to three weeks, along with isotope analysis of mud gas in up to four weeks and similarly VAS for cuttings in up to four weeks.