Oriole Resources PLC (LON:ORR) updated on the Senala project in Senegal where joint venture partner IAMGOLD has indicated that it will start the Year 3 Programme. IAMGOLD intends to move northwards in the programme, to drill the Faré prospect. An initial programme of 10,000 metres of AC drilling is planned with follow up drilling to be designed according to results.
Westminster Group PLC‘s (LON:WSG) ongoing gig as the technical partner on the container screening project in Ghana’s Tema port is set to be formalised. The screening project has been in operation since July 2019 but for various reasons, the contract between Meridian Port Services and Scanport had not been signed until now, paving the way for Scanport and Westminster to finalise their associated contract. The contract is for a renewable five-year term.
ECSC Group PLC (LON:ECSC) said it has secured two major managed service contracts with a national charity and high street retailer with a combined revenue value of over £590,000. The cybersecurity firm said the wins represented more than 20% of its current managed services order book and that the revenue will be recognised over the three year term of both contracts.
OptiBiotix Health PLC (LON:OPTI) has signed a licensing agreement for its cholesterol-lowering products in Bulgaria. Velinoff Pharma will promote and distribute the CholBiome and CholBiomeX3 brands, which contain the company’s LPLDL probiotic bacteria strain. It will target pharmacies, cardiologists, GPs and cardiology clinics.
Iofina PLC (LON:IOF) has confirmed that following a request for clarification made to him, Arron Banks has informed the firm that he does not intent to make an offer for the company. The AIM-listed group said Banks and an associate of his had made a number of statements to the media indicating that he was actively considering a possible offer for the entire issued and to be issued share capital of Iofina, and that until Thursday it had not received any communications regarding the possible offer from Banks.
Crossword Cybersecurity PLC’s (LON:CCS) consulting division has signed several new agreements, including three with companies in the legal, insurance and financial services sectors, to improve their cybersecurity posture. The AIM-listed firm said it had begun a cyber transformation project with a leading insurance company, the fourth client secured in the sector over the last 12 months, and is also working with a major UK law firm to implement new technical controls and “a more risk focussed governance structure”.
IronRidge Resources Ltd (LON:IRR) has agreed a deal to buy Joy Transporters Ltd to gain full ownership of a highly prospective lithium exploration portfolio in Ghana. The assets, known as the Saltpond and Cape Coast portfolio, comprises low-cost regional exploration activities, and, is located with “ideal” infrastructure support.
Arix Bioscience PLC (LON:ARIX) has said it will invest US$3.0mln (£2.3mln) in the initial public offering being undertaken by its portfolio company, Imara Inc., which will see the UK-listed firm retain a 9.4% stake in Imara. In a statement, the global venture capital company, which is focused on investing in and building breakthrough biotech companies, noted that Imara has priced its Nasdaq IPO of 4,700,000 shares of common stock at a public offering price of US$16.00 per share for aggregate gross proceeds of $75.2mln.
Primary Health Properties PLC (LON:PHP) is to fund the fitting out of a doctors’ surgery in Epsom, Surrey. Primary Health (PHP) will acquire the long leasehold interest of the property on completion of the work for a total cost of £4.1mln. The property will be let to the Ashley Surgery for an initial term of 20 years from practical completion.
Amur Minerals Corporation (LON:AMC) has secured a fixed-term loan note from Plena Global Opportunities. The loan note will provide Amur with up to £1.5mln and consists of three advances. The initial advance of £500,000 is likely to be received by the company on 13 March 202. A second advance of £500,000 is available after three months and a final advance of £500,000 is available after six months.
Mosman Oil And Gas Ltd (LON:MSMN) told investors that the operator of the Stanley project has chosen to defer the drilling of the Stanley-4 well. The operator had the right to make this decision under the joint venture agreement, and, now the last date that the operator can start drilling Stanley-4 is 20 June 2020. At the same time, amid oil market turbulence, the company has launched a full review of its operations.
Ceres Power Holdings PLC (LON:CWR) has raised aggregate proceeds of £49mln in total from share subscriptions by existing investors German firm Robert Bosch GmbH and Weichai Power of China. The group Bosch’s holding will increase from 11.8% of the existing share capital to approximately 18.0% of Ceres’ enlarged issued share capital. It added that Weichai will maintain its shareholding at 20% of the subsequently enlarged issued share capital.
Tiziana Life Sciences PLC (LON:TILS) (NASDAQ:TLSA) said it has priced its US fundraiser at US$3 per American Depositary Share (ADS), meaning the gross proceeds of the stock offer will be US$10mln. The injection of cash will be used to advance the clinical development of Foralumab, the company’s phase I drug candidate for Crohn’s Disease and progressive multiple sclerosis. It will also be deployed to “expedite” clinical development of TZLS-501 for coronavirus COVID-19, as well as providing working capital.
Metal Tiger PLC (LON:MTR) has told investors that its proposed acquisition and joint venture in Thailand has been terminated, by mutual agreement. An agreement was originally signed in August 2016 and, subsequently, the company was negotiating so that it could earn into a 49% in the partnership, by paying for a two-year drill programme, without upfront payment. However, it was unable to reach agreeable terms and, amid prevailing market conditions, the company has deemed that the risk-reward ratio was not acceptable.
Metal Tiger also announced it has acquired an additional 270,000 shares in Sandfire Resources Limited at an average price of A$4.02866 per share, for an aggregate net investment of A$1,087,739.61 (£547,665). This brings Metal Tiger’s total shareholding in Sandfire to 6,566,990 shares, representing approximately 3.69% of Sandfire’s issued share capital. As announced on 17 December 2019, 1,675,125 of the Sandfire shares the company holds are subject to the equity derivative collar financing arrangement with a global investment bank. For the financial year ended 30 June 2019, Sandfire reported net profits of A$104,013,000 and gross assets of A$735,850,000.
Berkeley Energia Ltd‘s(LON:BKY) latest results statement detailed ongoing progress as it works to deliver the Salamanca uranium mine in Spain. During the last financial year it made significant management changes, with chief executive Paul Atherley leaving the company, and, it switched office headquarters to Spain from London. Recruitment is presently underway with the aim hiring of a suitably qualified Spanish national for the managing director and chief executive.
Europa Oil & Gas (Holdings) PLC (LON:EOG) has announced the appointment of Stephen Williams, co-chief executive officer of Reabold Resources PLC (LON:RBD), as an independent non-executive director of the company. It said Williams replaces independent non-executive director, Roderick Corrie, who is stepping down from the board after twelve years of service, with the changes effective immediately. Simon Oddie, Europa’s interim chief executive officer and executive chairman commented: “Stephen’s appointment to the Board of Europa is well-timed. His proven track record at Reabold in sourcing, securing and participating in upstream appraisal opportunities, which have subsequently generated multiple discoveries, will prove invaluable to Europa.“
United Oil & Gas PLC (LON:UOG), the AIM-listed oil and gas exploration, development and production company, said it has appointed the chief financial officer (CFO) of Rockhopper PLC (LON:ROK), Stewart MacDonald as a non-executive director of the company with immediate effect. MacDonald, who has 17 years of energy and corporate finance experience, was appointed as CFO of Rockhopper in March 2014 and prior to that was a director of Rothschild’s global oil and gas group Graham Martin, United’s chairman, commented: “I am delighted to welcome Stewart to the Board of United Oil & Gas. His familiarity with the Abu Sennan asset and experience in Egypt will prove invaluable to United. We are sure Stewart will make a very positive contribution to the Board.”
Benchmark Holdings PLC (LON:BMK), the aquaculture health, nutrition and genetics business, announces that at the company’s Annual General Meeting, held at 12pm on Thursday, all resolutions were duly passed.
Oracle Power PLC (LON:ORCP) announced that it has received a notice of exercise in respect of certain pre-existing warrants to subscribe for, in aggregate, 29,000,000 new ordinary shares at a price of 0.25p each. The group said the exercise of these warrants amounts to an aggregate cash subscription of £72,500.