Mosman Oil And Gas Ltd (LON:MSMN) shares jumped in early deals on Monday following news of a farm-out deal for exploration permit (EP) 155 in the Amadeus basin, in Australia’s Northern Territory. Westmarket Oil & Gas, a subsidiary of Georgina Energy PLC, has inked a deal to earn a 70% stake by investing in work programmes at the project. Mosman will retain 30% and the transaction allows for the AIM-quoted firm to be ‘carried’ in an exploration well in return for a further 15% interest in the project.
Tissue Regenix Group PLC (LON:TRX) has received a further loan of US$417,000 under the US government-backed coronavirus (COVID-19) business support scheme. This funding is in addition to the receipt of a similar loan, for US$629,000, announced in mid-April. Following receipt of the loan, the board now expects that the group’s current cash runway will extend at least until after the first week of August.
Open Orphan PLC (LON:ORPH) said its subsidiary hVIVO has agreed a coronavirus (COVID-19) antibody testing partnership with NASDAQ-listed medical devices firm Quotient. hVIVO will use Quotient’s recently-certified MosaiQ system to screen for SARS-CoV-2 antibodies. The technology has been shown to be 100% effective in detecting the tell-tale antibodies and was able to rule out a person having them in 98.8% of cases. Open Orphan also announced the appointment of finnCap Ltd as its joint broker with immediate effect.
Gfinity PLC (LON:GFIN) has partnered with BT Sport to co-produce a new competitive gaming series, ‘The BT Sport FIFA Challenge’. The esports firm said the six-episode series, which will encompass a four-team tournament featuring members of BT Sport’s football and rugby talent, will be produced remotely using BT’s newly developed remote technology, while both firms will work together to oversee gaming content and competition elements. The series will use the FIFA20 video game developed by game developer EA Sports and will feature sports stars such as Robbie Savage, Joe Cole and Ugo Monye while Chelcee Grimes, singer, songwriter and Fulham Ladies player, will captain a women’s team.
Galileo Resources PLC (LON:GLR) has announced it is to acquire 21 prospecting licences inside the Kalahari Copper and Limpopo Mobile Belts in Botswana from Crocus-Serv (Pty) Ltd. covering 14,875 square kilometres. The consideration for the acquisition comprises 38.8mln shares and £10,082 in cash. Galileo will conduct due diligence during a 30-day exclusivity period. “We are very pleased with this proposed acquisition,” Galileo chief executive Colin Bird said in a statement posted after the market close on Thursday.
Bidstack Group PLC (LON:BIDS) has confirmed to investors that it will deliver in-game advertising for Codemasters Group Holdings PLC’s (LON:CDM) new DIRT 5 game. DIRT 5 is due for release in October 2020 on the new generation consoles Xbox Series X and PlayStation 5 along with the current Xbox One and Playstation 4 systems and PC (via Steam). It will also be available via Google Stadia by early 2021. “It’s great to be working with Codemasters, using our technology to deliver native in-game advertising for DIRT 5, which is the first racing game to be confirmed for the all-new Xbox Series x,” James Draper, Bidstack chief executive said in a statement.
OptiBiotix Health PLC (LON:OPTI) has signed an exclusive distribution agreement with Taipei-based nutraceuticals firm MAXCARE to commercialise its SlimBiome product in Taiwan. The AIM-listed group said MAXCARE was “well placed to educate customers on the benefits and functionality SlimBiome can provide” and had a team of registered dieticians to support commercialisation, with market exclusivity to be linked to minimum sales targets being achieved.
Tiziana Life Sciences PLC (LON:TILS) (NASDAQ:TLSA) has said it will showcase data via four submissions at the virtual replacement for the world’s leading cancer conference. Leading the way are two poster sessions on StemPrintER at the American Society of Clinical Oncology (ASCO) summit. The technology is being developed to predict the potential recurrence of breast cancer. In one of those posters, there is a direct comparison of Tiziana’s product with current market leader, Oncotype DX. A further two ‘e-abstracts’ assess the potential of the firm’s Milciclib drug candidate in treating hepatocellular carcinoma.
BlueRock Diamonds PLC (LON:BRD) has said mining and processing operations have restarted at its Kareevlei diamond mine in the Kimberley region of South Africa. The company added that it expects to be operating at capacity by the end of this month but said that its expansion plans for the mine remain on hold.
Primary Health Properties PLC (LON:PHP) has acquired twenty purpose-built medical centres in England and Wales and conditionally signed contracts for a further two. The consideration is £47.1mln for the acquired centres with a further £6.9mln payable for the additional two. PHP said that the acquired properties are leased to GPs, NHS operators or pharmacies with 91% of their rental income backed by the UK government. The deal will increase the size of FTSE250- group’s portfolio to 510 properties worth just under £2.5bn and with annual rents of £131mln.
Faron Pharmaceuticals Oy (LON:FARN) shares rose on Monday as the firm received an €800,000 grant from Business Finland as part of Cancer IO, a research and innovation consortium to integrate immune-oncology activities between Finnish universities and hospitals. The AIM-listed firm said the grant will enable state-of-the-art characterisation of immunological responses in its MATINS trial, which is currently investigating the tolerability, safety and efficacy of Faron’s Clevegen precision cancer immunotherapy targeting Clever-1 positive tumour associated macrophages (TAM), in selected metastatic or inoperable solid tumours.
Alien Metals Ltd (LON:UFO) said it has raised £275,000 of new capital so that it can expedite exploration work across projects in Mexico and Australia. The money will also allow the company to examine strategic opportunities that are being presented to the company in the current market, it added. Through a placing, the company is selling 343.75mln shares priced at 0.08p each. Investors will also receive one share warrant for every new share they buy.
Pure Gold Mining Inc (CVE:PGM) (LON:PUR) has told investors that the current gold price augurs well for the financials of its Madsen mine in Ontario, which is on track to start producing in the fourth quarter this year. The combination of the firmer gold price and a falling Canadian dollar is materially positive for the project, which will be Canada’s next large scale producer, the group said Monday. In its 2019 feasibility study for the project, gold was put at US$1,275 an ounce, which, when factoring in the exchange rate, represents C$1,700 an ounce As of May 7 this year, with gold at C$2,400 per ounce, the mine would generate an additional C$679 million in revenue over the base case of the feasibility, Pure Gold said.
Vast Resources PLC (LON:VAST) has updated investors on the Baita Plai polymetallic mine project, in Romania, where it has placed new hire Adrian Badita as general manager. In a statement, the firm said Badita, who will report into chief operating officer Craig Harvey, will be responsible for the overall management of Baita Plai including, but not limited, to ensuring the safety and health of all the team at the mine as well as implementing and monitoring the company’s development plan. Badita is due to start his position on May 18. He brings over 20 years’ mining experience including progressive supervisory experience in all phases of the mining industry, with specific experience including drill & blast, haulage, waste management, risk management strategy and environmental site rehabilitation.
Amryt Pharma PLC’s (LON:AYP) has revealed that its business performance exceeded expectations in the first quarter of 2020. The commercial-stage biopharmaceutical company, which is focused on life-threatening rare diseases, said its revenues in the first quarter of this year rose by 30% to US$44.6mln from US$34.3mln in the corresponding period of 2019. Revenues were 10% higher quarter-on-quarter. The group made an adjusted operating profit of US$4.6mln before finance expenses versus a loss of US$2.8mln in the same quarter of last year.
Ariana Resources PLC (LON:AAU) has boosted the resource estimate at its Kizilcukur project in Turkey. The new resource stands at 21,100 ounces of gold and 620,000 ounces of silver, with contained metal on three main veins, the group said, with 85% of the tonnage in the measured and indicated categories. Higher grade ore has been found on the Zeki Main Vein, and trial mining has commenced, it added. “This is a significant improvement over the previous resource estimate, which integrates the latest drilling data and geological modelling,” Ariana’s managing director Dr Kerim Sener said in a statement.
Oriole Resources PLC (LON:ORR), the exploration company-focused on West Africa, said it plans to commence its maiden drilling programme later this year on its Bibemi gold project in Cameroon, subject to the easing of coronavirus (COVID-19) related travel restrictions. The AIM-listed firm noted that results from its exploration programme in the fourth quarter of 2019 have enabled the company to expand its planned 2020 drilling campaign at the Bakassi Zone to almost 2,000 metres (m).
Union Jack Oil PLC’s (LON:UJO) has confirmed the onshore UK firm is fully funded for all its current drilling and well testing commitments in its full-year 2019 results statement. The AIM-quoted company told investors it had a £5.5mln cash balance at the start of May 2019 and it remains debt-free. “My confidence in respect of Union Jack’s future remains highly positive,” executive chairman David Bramhill said in the statement.
IronRidge Resources Ltd (LON:IRR) has raised £4.75mln through a conditional share placing, with the funds earmarked for an accelerated drill programme at the Zaranou gold project in Côte d’Ivoire. The group is issuing some 67.85mln new shares priced at 7p each. The funding comprises two tranches, due to the company’s existing allowances, with just over 50mln new shares issued in the first tranche and a further 17.8mln to be issued conditionally with the passing of resolutions at a general meeting in June.
Rosslyn Data Technologies PLC (LON:RDT) , the big data specialist, revealed late on Thursday that it has raised £7.3mln in a heavily oversubscribed placing to strengthen its balance sheet against possible coronavirus (COVID-19) pandemic disruption. Coronavirus has had relatively little impact so far, the group said, aside from some delays in the signing of contracts, which should now occur in the current year ended April 30, 2021. Roger Bullen, Rosslyn’s chief executive, noted that the level of demand for the shares reflected confidence in Rosslyn’s strategy and future growth. The placing was priced at 5p, a small premium to last Thursday’s closing price, and amounted to 43% of the shares in issue.
Pan African Resources plc (LON:PAF) shares were higher on Monday as the group said it has remained cashflow positive despite the coronavirus pandemic and lockdown measures in South Africa. The AIM-listed miner also said, despite its operations being “severely affected” by the lockdown, its production forecast for the 2020 financial year has been lowered by “only 5%” to 176,000 ounces of gold. Pan African said the small downgrade reflected its ability to “increase output from surface toll treatment and low-grade surface stockpile processing initiatives, in substitution of underground production”.
Kodal Minerals PLC (LON:KOD) said it has received initial test results from a bulk sample of pegmatite-hosted lithium mineralisation taken from the Bougouni lithium project in southern Mali. The group said the recoveries from the Bougouni bulk sample rang in at up to 83%, to give a 5.5%-to-6% Li2O spodumene product. That is significantly higher than the 71% recovery used in Kodal Minerals’ initial feasibility study and indicates upside on the project. It also said the spodumene concentrate is low in impurities with iron content reported at below 0.5%
Adamas Finance Asia Limited (LON:ADAM) said it has raised around US$1.72mln through a new subscription to its US dollar-denominated corporate bond from high net worth individuals and family offices in the Middle East. The AIM-listed company said the result represented the second close of its corporate bond issuance programme of up to a combined total of US$10mln, through which it has raised around US$3.6mln to date.
Premier African Minerals Ltd has completed its US$290,000 investment agreement with D-Beta One EQ, YA II PN and Riverfort Global Opportunities PCC at an annual interest rate of 10%. “This agreement provides a further cash buffer as we approach finality in regard to both our EPO application at Zulu Lithium Pvt Limited and the ongoing negotiations at RHA Tungsten Private Limited (“RHA”) in Zimbabwe,” Premier African’s chief executive George Roach said in a statement. He added that he was also “deeply grateful” for the provision of US$106,000 in funding from Zimbabwe’s Ministry of Commerce and Industry.
KRM22 PLC (LON:KRM) confirmed it has received a firm commitment to undertake a £1mln equity investment at 30p per share, a 27.7% premium to its closing price last Thursday, exceeding its initial fundraising target. The software firm said it remains in dialogue with other existing and new potential investors regarding addition investment to add to the total, with a further announcement to be made once the investor roadshow and fundraising is completed around May 14. KRM22 said the proceeds will help strengthen its working capital facilities and accelerate growth, adding that it has also reached an agreement with its debt provider that it may draw down a further £500,000, conditional on completion of the fundraise.
KRM22 also unveiled a brief trading update for the year ended December 31, 2019, ahead of its final results, due to be announced next week, reporting that its adjusted (EBITDA) loss had narrowed to £3.07mln from £3.32mln in 2018 while revenues climbed to £4.1mln from £1.29mln.
NQ Minerals PLC (LON:NQMI) (OTCQB:NQMLF), the Aquis Exchange-listed base and precious metals producer from its Hellyer Gold Mine in Tasmania Australia, announced that it has raised £150,694 gross from an issue of 2,620,766 new ordinary shares at 5.75p per share to a UK based Institutional investor and a group of private investors for general working capital purposes.
Afarak Group PLC (LON:AFRK) has placed its South African subsidiaries Afarak South Africa and Afarak Mogale into voluntary business rescue, following financial distress caused by coronavirus-related lock-downs. In a statement, Afarak’s board of directors said there is a reasonable prospect of rescuing both. They added that Afarak Mogale Ltd and Afarak South Africa Ltd being placed into business rescue does not and will not affect the remaining mining assets and businesses held by the Afarak Group.
Ashley House PLC ((LON:ASH) said late last Thursday that it has raised £850,000 from the sale of its interests in Partnering Health and Infracare LIFT to its main lender Invescare. The disposals reduce Ashley House’s outstanding loan with Invescare to £320,000. Ashley House said it is continuing to look for funding for its ongoing affordable housing strategy, without which it will not be able to trade.
CentralNic Group PLC (LON:CNIC), the global internet platform that derives revenue from the subscription sales of domain names and web services, announced late on Thursday that Mike Turner has resigned as a non-executive director of the company with immediate effect having recently accepted a new full-time role as a partner with an international law firm. A stipulation of Mike’s engagement is that he resign any non-executive director roles he currently holds and, as such, he is stepping down from his position at CentralNic. Ben Crawford, CentralNic CEO, commented: “Mike’s experience and guidance has proven invaluable to CentralNic since he joined our board in 2015. We are sorry to see him leave, and we wish him every success in his new role.”
Iconic Labs PLC (LON:ICON), a multi-divisional new media and technology business, said after the market close on Thursday that it has received a notice of exercise from the European High Growth Opportunities Securitization Fund in respect of conversion rights under the Convertible Bonds issued in respect of the first tranche drawn down under the Financing and Settlement Agreement entered into by the company on February 7, 2020, for the aggregate principal amount of £100,000 resulting in the issue to the investor of 500,000,000 new ordinary shares in the company.