Amur Minerals Corporation (LON:AMC), the nickel-copper sulphide mineral exploration and resource development company focused on the far east of Russia, has raised £1.2mln before expenses through the subscription of just under 70.6mln shares at a price of 1.7p per share. The subscription is by an asset manager specialising in natural resources. More than half of the money raised will be used to repay in full the convertible loans outstanding to Riverfort Global Opportunities PCC Limited and YA II PN Ltd, together with any interest due.
Anglo Asian Mining PLC (LON:AAZ) said it had uncovered new mineralisation in the north-east of the licence area that is host to its Gedabek open-pit mine in western Azerbaijan. The new discoveries at Avshancli and Gilar were the result of a regional exploration field mapping programme that included an airborne process called ZTEM. The former was found to be host to new gold-copper “mineral occurrences”, while the latter was prospective for gold only.
Shanta Gold Limited (LON:SHG), the East Africa-focused gold producer, announced that it has received a VAT refund of US$1.4mln in the form of a cash payment at its Tanzanian wholly-owned subsidiary. The company noted that the current VAT Receivable balance has reduced to US$26.6mln as of 31 October 2019. The group said further information will be communicated as appropriate.
Bango PLC (LON:BGO) is partnering up with app intelligence and optimisation firm, MobileAction, to boost revenues for developers from in-app payments by users. The mobile commerce firm said that by using its Bango Audiences product, MobileAction’s developers will be able to target advertising campaigns for their apps at users that are likely to spend more, with the product having been proven to increase revenue generated from user acquisition campaigns by between 2 to 9 times compared to targeting “vanilla audiences” with no insight.
Mining royalty specialist Anglo Pacific Group PLC (LON:APF) remains on track for another record year even though prices of coal and vanadium, two key commodities, have weakened recently. Royalty revenue dipped 7% to £9.5mln in the three months to September, though a big increase in the dividend from iron ore group LIORC meant income overall for the quarter rose by 7% to £12.9mln.
Alba Mineral Resources PLC (LON:ALBA) has hailed “rapid progress” in the drilling of a horizontal well at the Portland reservoir of the Horse Hill project near Gatwick, in which it owns an 11.8% stake. The AIM-listed firm, citing an update from Horse Hill’s largest stakeholder, UK Oil & Gas PLC (LON:UKOG), said the Horse Hill-2z well had successfully drilled 2,016 feet into the Portland reservoir’s most oil-productive zone, and that the remaining 1,200 ft of drilling is expected to be completed “over the coming days”.
Union Jack Oil PLC (LON:UJO) and Europa Oil & Gas Holdings PLC (LON:EOG) have reassured investors that their operations will not be affected by a recent decision by the UK government to ban fracking. In a major reversal of policy on Saturday, the government announced that fracking, also known as hydraulic fracturing, a method of pumping high-pressure water, chemicals and sand underground to split shale rock and release oil and gas, will be halted in England immediately following a series of earthquakes at the country’s only fracking site at Preston New Road in Lancashire.
Office property firm Circle Property PLC (LON:CRC) is expecting growth in net asset value (NAV) per share to pick up over the next few months. The company’s portfolio has been independently valued at £135.6mln as at 30 September, up from £124.6mln at the end of March. The NAV per share edged up to 278p per share, up a penny from six months earlier.
Alien Metals Ltd (LON:UFO) has extended the option it holds with Windfield Metals over two iron ore projects in the Pilbara region of western Australia. The Pilbara is famously one of the most prolific mining districts in the world. The option acquired by Alien was originally stipulated to last for 45 days, but has now been extended until 18 November 2019 to allow for the completion of due diligence and analysis work.
Labro Investments Ltd, a company in which the chairman of Chaarat Gold Holdings Ltd (LON:CGH) Martin Andersson holds a majority interest, has exercised all 21.4mln of its warrants to subscribe for Chaarat shares. The issuing of the new shares also served to offset more than US$700,000 in loans made by Labro to Chaarat. Following the issuing of the new shares, Labro will hold just over 161mln shares in Chaarat, representing 35.33% of the issued share capital
Sunrise Resources PLC (LON:SRES) has raised £350,000 for its CS pozzolan-perlite project in Nevada, USA through a conditional placing. The funds will be used to complete mine permitting, scheduled for the end of this quarter, further sampling and customer trials, work preparatory to mine start-up and for general working capital purposes. The AIM-listed miner issued 350,000,000 new ordinary shares at a price of 0.1p each.
Oncimmune Holdings PLC (LON:ONC) has drawn down €3.5mln from its credit facility with IPF Management. It is the second and final tranche from the facility after the diagnostics specialist banked €5mln on September 20. The new funds will be used to bankroll its commercial push based around its EarlyCDT technology, which is used to detect cancer.
Rose Petroleum PLC (LON:ROSE) has signed a Letter of Intent (LoI) to acquire a 9% interest in shale assets in the prolific DJ Basin in Colorado. There is also an option to increase the working interest to around 80%. Rose said the acquisition will provide near-term, low-risk horizontal development drilling exposure in the prolific Niobrara shale play and on acreage contiguous to other major DJ Basin operators.
Echo Energy PLC (LON:ECHO) has extended its acquisition agreement for the Santa Cruz Sur asset package in the Austral basin in Argentina. The South America-focused energy group said the extension has been agreed to allow enough time for a waiver to be received from the minority co-owner of the assets, which is expected to be received by 6 November.
Cadogan Petroleum Plc (LON:CAD), an independent, diversified oil & gas company listed on the Main Market of the London Stock Exchange, said late on Friday that further to the announcement it made on September 30, its incumbent CEO has agreed to extend his term from the previously announced date of 30 September until November 15. The group said further announcements will be made in due course.
SIMEC Atlantis Energy Limited (LON:SAE), a global leader in the renewable energy sector, announced that following the formal launch of its proposed five-year bond through Abundance Investment Limited, investor commitments have now passed £1.8mln. The company said it has extended the offer to investors which will now remain open until 31 January 2020.
Xpediator PLC (LON:XPD), a leading provider of freight management services across the UK and Central and Eastern Europe announced that Wim Pauwels and Charles McGurin have been appointed as independent non-executive directors with immediate effect. The company noted that Pauwel is a well-known industry figure having worked in multiple senior logistics roles across Europe and the US over the past 40 years. In his most recent executive role, he was chief regional officer for Yusen Logistics Europe up until this year. It pointed out that McGrin is also a well-known industry figure having worked extensively in the international supply chain sector, most recently as CEO of Allport Cargo Services Group, the global logistics organisation with annual revenues of £300mln.
Summit Therapeutics PLC (NASDAQ:SMMT) (LON:SUMM) said that, as part of its activities for CDI awareness month, the firm will be presenting at the 7th Annual C. diff. Conference and Health EXPO in St. Louis, Missouri. The group said the presentation will review data from the Phase 2 clinical trial in which ridinilazole achieved statistical superiority over vancomycin in the measure of sustained clinical response, which captured whether patients were cured of CDI and remained cured for 30 days after treatment. In addition, an exploratory endpoint in the trial showed patients treated with ridinilazole had significantly preserved gut microbiomes compared to vancomycin. Dr David Roblin, president of R&D at Summit commented. “By being targeted to C. difficile, our precision antibiotic ridinilazole has the potential to preserve patients’ microbiomes and improve outcomes for patients with CDI.”
Ceres Power Holdings PLC (LON:LON:CWR) announced that, following the conclusion of a formal tender process led by the Company’s Audit Committee, the board has approved the proposed appointment of BDO LLP as the Company’s auditor for the financial year ending 30 June 2020, subject to approval by shareholders at the Annual General Meeting to be held on 4 December 2019. The group said KPMG, the company’s current auditor, has resigned and confirmed that there are no matters connected with it ceasing to hold office that should be brought to the attention of the members or creditors of the company.
Amryt Pharma PLC (LON:AMYT), a biopharmaceutical company focused on developing and delivering innovative new treatments to help improve the lives of patients with rare and orphan diseases, said it will announce a trading update for the nine-months ended 30 September 2019 on Tuesday, 5 November 2019.
US Oil & Gas PLC (USOP) remains optimistic it can drill a well on its Hot Creek Valley leases in Nevada by the end of the first quarter of next year. The Tertiary East Play is the best near-term candidate, subject to testing, the company said. USOG had hoped it might be possible to drill this quarter, but the complexity of the geological challenge has slowed progress.
bit bio has unveiled a new executive team following its rebranding from Elpis Biomed in October. The biotech, which specialises in coding and reprogramming stem cells, is now headed by chief executive Mark Kotter, a stem cell biologist and neurosurgeon at the University of Cambridge, while Florian Schuster, the former finance boss of Tessa Therapeutics, is taking up the positions of chief financial and chief operations officer. The firm’s chief business officer, meanwhile, is Paul Morrill, the co-founder of gene editing firm Horizon Discovery Group PLC (LON:HZD), with immune-oncology clinician Ramy Ibrahim and stem cell reprogramming specialist Marius Wernig serving as scientific advisors.
appScatter Group PLC (LON:APPS) revealed that it plans to relist under the name ‘Airpush’ on London’s alternative investment market (AIM), once its takeover of US-based mobile advertising company Airpush is complete. Shares were cancelled from AIM in late October, following a six-month trading suspension while it worked to acquire the privately-owned Airpush through the issue of stock to Airpush shareholders at a price of 26.8p each.