Futura Medical PLC (LON:FUM) said it expects to have the headline data from its erectile dysfunction drug (ED) by the end of the year after completing dosing for the European phase III clinical trial. Chief executive James Barder said the release of healding findings from the FM57 study would be a “key value inflection point” for the company.
Respiratory specialist Circassia Pharmaceuticals PLC (LON:CIR) will later on Monday announce the US launch of a new product for chronic obstructive pulmonary disease (COPD), describing the landmark as a “major strategic milestone”.
Woodbois Ltd (LON:WBI) said converting all the preference shares in its Argento subsidiary into convertible bonds will increase transparency and enable it to “take advantage of the many opportunities ahead”.
Echo Energy PLC (LON:ECHO) is set to expand its footprint in Argentina with the acquisition of the Santa Cruz Sur asset package which includes production. It will pay US$7mln in cash, plus US$1.5mln worth of shares, for the acquisition supported by an equity raise and new convertible debt.
Diversified Gas & Oil PLC (AIM: DGOC) has appointed Sandy Stash as an additional independent non-executive director as it prepares for a move to the premium segment of the main market of the London Stock Exchange. Stash is currently executive vice president and executive advisor at Tullow Oil, following a career with ARCO, Anaconda, TNK-BP and BP.
Bluejay Mining PLC (LON:JAY) has applied for an additional licence to expand its Kangerluarsuk zinc-lead-silver project in Greenland by more than five-fold.
Landore Resources Limited (LON:LND) is expecting an increased gold resource from its BAM deposit at the Junior Lake project in Ontario, Canada, following a drilling campaign at the site this year.
Arc Minerals Limited (LON:ARCM) said it has issued 6.5mln shares to its drilling contractor in Zambia under the first part of its drill for equity programme, with a price of roughly 3p per share representing consideration of £194,518 in part-settlement of the company’s share of drilling costs incurred in the two months July and August 2019, with the £31,123 balance payable in cash. The drilling shares are subject to certain trading restrictions to the volume that can be traded.
Ariana Resources PLC (LON:AAU) has enjoyed one its strongest quarters ever for revenues generated. Production from the Kiziltepe mine in Turkey was just shy of 7,000oz and combined with a very strong gold price boosted sales said managing director Karim Sener.
Horizonte Minerals (LON:HZM) has completed a US$25mln royalty transaction with Orion Mine Finance and drawn down the funds.
Bacanora Lithium Group PLC (LON:BCN) said that it now has a “clear line of sight” towards construction at the Sonora lithium project in Mexico. Operating losses fell by a quarter to US$8mln in the year to June, with its cash balance at US$14.8mln.
Open Orphan Plc (LON:ORPH) will present at The London Investor Show on Friday 25 October, where there will be an opportunity for existing and potential shareholders to discuss the company’s business plans.