Synairgen PLC (LON:SNG) chief executive Richard Marsden said positive results from a clinical trial of its drug to tackle the severe symptoms of coronavirus (COVID-19) “could signal a major breakthrough in the treatment of hospitalised patients”. People who received SNG001, an inhaled formulation of interferon beta had a 79% lower risk of developing severe disease compared to those given the placebo, the data revealed. They were also more than twice as likely to recover from the illness than those receiving the substance with no therapeutic value. A total of 101 people took part in the clinical assessment at nine sites between March 30 and May 27.
Touchstone Exploration Inc’s (LON:TXP) Cascadura project has been confirmed as a significant discovery in a new independent reserves report. Consultant GLJ Ltd has estimated Cascadura hosts between 241.2 and 571.5 billion cubic feet of discovered natural gas in place, with the ‘best’ estimate pitched at 398.5bn. GLJ gives the project some 73,19mln barrels of oil equivalent (boe) reserves in the 3P (proved, probable, possible) category, with 2P (proved and probable) reserves set at 45.03mln boe and there’s 23.62 boe of proved reserves. The reserves are valued by GLJ in a range between US$802.9mln and US$287.7mln, with 2P reserves valued at US$519.2mln.
Shanta Gold Ltd (LON:SHG) produced 22,216 ounces of gold from its New Luika mine in Tanzania during the second quarter of 2019, up on the 20,167 ounces produced in the first quarter. Free cash flow amounted to US$15.5mln, up from US$3.9mln in the first quarter. The company said it has also been working up the resource at Singida, which now stands at 243,000 ounces.
ReNeuron Group PLC (LON:RENE) said a decision to focus in-house activities on its retinal disease and exosome-based programmes will provide “significant near-term opportunities to deliver value-enhancing data and commercial partnerships” as it updated on the progress of its various treatments. In its results for the year ended March 31, 2020, the cell-based therapeutics firm said its hRPC stem cell therapy candidate for retinal disease had delivered “positive and sustained top-line efficacy data” in an ongoing US Phase 1/2a clinical trial, with further readouts from an expanded study expected over the next 12 months, leading to intention to file an application in the second half of 2021 to commence a pivotal clinical study. The company also said it has received regulatory approval in the US and UK to expand the Phase 2a study to allow for a subsequent potential single pre-approval clinical study and shorter route to market.
MTI Wireless Edge Ltd (LON:MWE) said its Mottech Water Solutions subsidiary has launched a new wireless irrigation solution developed for the French wine market. The system, dubbed Tethys, already has a customer list of 200 French vineyards since it is used by four water associations who provide irrigation services to the wine producers. The Tethys water management system enables accurate water distribution and irrigation management, resulting in a 30% increase in crop yields while reducing costs by around 30% from efficient use of water, fertiliser, energy and labour, MTI Wireless noted.
Frontier IP PLC (LON:FIPP) said portfolio company Cambridge Raman Imaging has raised £250,000 to help commercialise its innovative graphene-enabled scanning Raman microscope. Cambridge Raman, a spin-out from the University of Cambridge, is jointly developing the technology with a spin-out from the Politecnico di Milano in Italy. The investment will support the development of its graphene-based ultrafast laser technology for use in a medical microscope to diagnose and track tumours, and other detection applications. It is the first external equity investment in the company and values it at £1.5 million. Frontier IP’s equity holding is now 25.8% though it said the funding round does not materially impact the carrying book value.
Arix Bioscience PLC (LON:ARIX), the biotech venture capital company, has noted an announcement from its portfolio company Amplyx Pharmaceuticals regarding a positive result from the Phase 2 clinical trial of its novel antifungal agent, fosmanogepix. The trial, evaluating the safety and efficacy of fosmanogepix as a first-line treatment for patients with invasive fungal infections caused by Candida, met its primary efficacy endpoint, demonstrating a treatment success rate of 80%. Fosmanogepix was also well tolerated with no treatment-related serious adverse events or discontinuations, said Amplyx.
Alien Metals Limited (LON:UFO) has said finalisation of the geophysical review for the Donovan 2 copper-gold project in Mexico is “essentially complete”. The company is hoping to finalise the upcoming drill programme at Donovan 2 at the end of next week. The independent review confirms the company’s internal work, providing a number of priority targets that have the potential to delineate hidden copper-gold mineralisation. The company said it will “push ahead with drill planning” in the third quarter of this year.
OptiBiotix Health PLC (LON:OPTI) said the first half of 2020 saw all of its divisions make progress towards its goal of being profitable this year. The functional fibres division reported a profit during this period, the ProBiotix division was profitable in three of the six months, and the consumer health division was profitable in one of the six months, OptioBiotix told investors. Total invoiced sales of LPLDL and SlimBiome as an ingredient or final product shot up by 398% to £741,504 from £148,818 in the first half of last year.
Landore Resources Limited (LON:LND) said it was informed on July 17, 2020, that well-known Canadian investor Eric Sprott has a beneficial interest in 174,814,815 ordinary shares in the company, representing 9.72% of the issued share capital. It noted that Sprott’s shareholding in the company is held through 2176423 Ontario.
Instem PLC (LON:INS) said its first-half trading was in line with forecasts with momentum continuing into the second six months of the year. The software group, which has developed and sells packages used to record R&D data, said revenues for the six months ended June 30, 2020, were up 20%, or 12% on a like-for-like basis. Cash generation was strong, leaving Instem with £9.1mln, which when added to the £15.75mln raised earlier this month leaves it with “significant capital” to accelerate its acquisition strategy. It said it has a number of “potential compelling opportunities” for bolt-on deals, with “more substantial targets” have also been identified.
Gore Street Energy Storage Fund PLC (LON:GSF) has welcomed legal changes to allow battery projects larger than 50Mw in England and 350Mw in Wales. The new legislation removes energy storage, except pumped hydro, from the Nationally Significant Infrastructure Projects regime in England and Wales, said the fund. This will allow larger projects to receive planning permission without government approval.
ANGLE PLC (LON:AGL) said the results of a new study from the University of Southern California (USC), published in the International Journal of Molecular Sciences, have highlighted the “key advantages” of its Parsortix liquid biopsy system compared to a standard of care tissue biopsy. The AIM-listed firm said in addition to the known advantages of a non-invasive, repeatable and low-cost procedure, the USC study showed that “potential actionable therapeutic targets” were found in the Parsortix biopsy that were missed in the tissue biopsy of a single metastatic site.
Karelian Diamond Resources PLC (LON:KDR) has been granted rights of way over the entire Naviskangas private forest road, together with a side road, giving vehicular access to the company’s Lahtojoki diamond deposit, the adjacent Lahtojoki South exploration permit area and the surrounding reservation in the Kaavi region of Finland. The granting of vehicular rights of way by the National Land Survey of Finland will facilitate the company in its technical assessment of the Lahtojoki diamond deposit over which it has been granted a mining concession. The two-hectare Lahtojoki diamond deposit is located in the Kaavi region of Eastern Finland and lies in the Karelian Craton which extends across north-eastern Russia and northern Finland.
Mosman Oil And Gas Ltd (LON:MSMN) has updated on its operations, revealing that drilling of the Duff well at the Greater Stanley project will start in the fourth week of July. Additionally, the group said, results of a workover in the Stanley-1 well are expected shortly and preparations are underway for the Falcon-1 well with site works due in late August ahead of drilling in September. The project operator is also planning the proposed Stanley-4 well.
Trident Royalties PLC (LON:TRR) has booked A$903,215 in second quarter royalty payments from the Koolyanobbing iron ore project in Australia. The increased payment is a result of strong iron ore prices, as well as the continued ramp-up of operations at Koolyanobbing. The iron ore price increased significantly over the second quarter, rising by 19% to US$99.4 per tonne from US$83.3 per tonne, with an intra-month peak of US$105.7 per tonne. What’s more, that price trend has continued into the third quarter, with spot prices reaching US$112 per tonne in mid-July.
Metal Tiger PLC (LON:MTR) has subscribed for two million units in Aurelius Minerals Inc (CVE:AUL) at a price of C$0.05 per unit, for a total investment of C$100,000. Aurelius is raising a total of C$4.4mln. Each unit consists of one common share in Aurelius and half a warrant exercisable at a price of C$0.07 for a period of 24 months. Aurelius is a Venture Exchange-listed gold exploration and development company, with a primary focus on the Aureus gold project, comprising four different properties in Nova Scotia, Canada. Separately, Metal Tiger also highlighted an announcement from 18.8%-owned Cobre Ltd (ASX:CBE) in which it revealed high-grade massive sulphide copper intercepts at the Schwabe prospect on its Perrinvale property in Western Australia.
Europa Oil & Gas Holdings PLC (LON:EOG) has told investors it is confident that the next year will be a highly active period for the company, led by the Wressle start-up later in 2020. Onshore Lincolnshire, the 30%-owned Wressle project is due to begin production during the second half of this year and it will deliver some 500 barrels oil equivalent per day (boepd) of gross production. It will mean that Europa’s net UK onshore production will double to over 200 boepd. Significantly, Europa today highlighted that with a US$17 per barrel breakeven Wressle promises to be very profitable at current oil prices of over US$40 per barrel. Europa also announced the intended retirement of its finance director Phil Greenhalgh, who will remain on the board until October 14, 2020. The company said it does not intend to appoint a replacement at the current time, instead, his responsibilities will be assigned to existing team members, with Alison Fuller becoming financial controller and Murray Johnson becoming company secretary.
Bezant Resources PLC (LON:BZT) has completed its due diligence in relation to the Hope copper project in Namibia, and the parties are now proceeding to the administrative process of completing the acquisition. As announced on June 19, 2020, the acquisition of 100% of Virgo Resources Ltd and its interests in the Hope copper-gold project in Namibia was subject to certain conditions precedent, including completion of due diligence, regulatory consents for Bezant to proceed, and execution. “The completion of our corporate and technical due diligence on the acquisition of Virgo and its +70% interest in the Hope gold-copper project is an important milestone for Bezant,” executive chairman Colin Bird said in a statement.
Bezant Resources also said its annual general meeting (AGM) will be held at 7/8 Kendrick Mews, South Kensington, London SW7 3HG, England, at 10.00am. on Monday, August 10, 2020. In light of current restrictions on public gatherings and to ensure shareholders can comply with the government measures, the company has concluded that shareholders will not be permitted to attend in person and therefore requests that shareholders cast their votes by proxy 48 hours in advance of the AGM.
Pembridge Resources PLC (LON:PERE) said the Minto copper mine in the Yukon, Canada, which it partially owns, produced 6,820 wet metric tonnes of concentrate during the second quarter of 2020. Payments of US$9.8mln were received by Minto from its major customer Sumitomo, it added. The next shipment to Japan is planned before the end of the third quarter, based on current production levels.
NQ Minerals PLC (AQSE:NQMI) (OTCQB:NQMLF) (OTCQB:NQMIY) said it has appointed Deutsche Gesellschaft für Wertpapieranalyse GmbH (DGWA – the German Institute for Asset and Equity Allocation and Valuation), a mining and resource focused European investment banking boutique, as its Investor and Corporate Relations advisor in Europe. With offices in Frankfurt, Berlin and Vienna as well as representatives in Australia and Canada, NQ said DGWA will focus on the growing interest in mining and exploration within the European financial community due to Europe’s considerable investment commitments in the clean energy, electric vehicle and energy storage systems industry.
Alpha Growth PLC (LON:ALGW) said its BlackOak Alpha Growth Fund had seen a significant rise in interest since April though there has been an impact from the coronavirus (COVID-19) disruption. Several major US registered investment advisors, or RIAs, have now moved to the next step of conducting due diligence on the BlackOak fund, it added. Alpha Growth has also started discussions with certain proprietary funds to manage the longevity assets within those funds through separately managed accounts. Longevity assets are life insurance policies sold before the maturity date to a third party for cash.
Canadian Overseas Petroleum Limited (LON:COP) (CSE:XOP) said it has raised £1.3mln in a share placing and has also reached a ‘debt exchange’ agreement with creditors. The placing investors comprise two institutions and two high net worth investors. Some 621mln new shares will be issued, at a price of 0.3p each. In the proposed ‘debt exchange’ transaction, the company will issue around 411mln new shares as settlement of debts to unsecured creditors, along with accrued payments due to employees and management.
Galantas Gold Corporation (LON:GAL) (CVE:GAL), the gold producer and explorer with a 100% interest in Northern Ireland’s Omagh gold mine said its proposed private placement for 2,833,132 common shares for gross proceeds of C$637,454 (£376,240), previously announced on June 26, 2020, and July 03, 2020, has now closed and was fully subscribed. A four-month hold period will apply to the common shares issued under the private placement which will expire on November 18, 2020.
Catenae Innovation PLC (LON: CTEA), the AIM-quoted provider of digital media and technology, has announced that Guy Meyer, its interim chief executive officer, has taken on the role of on a permanent basis with immediate effect. The firm also said it has conditionally granted options to certain directors over 15,631,579 new ordinary shares, with all of the options having an exercise price of 3.8p: Meyer has been conditionally granted options over a maximum of 11,578,947 new ordinary shares (representing a maximum of 5.34% of the current issued capital of the company); John Farthing, its chief financial officer, has been conditionally granted options over a maximum of 4,052,632 new ordinary shares (representing a maximum of 1.87% of the current issued capital of the company).
Tiziana Life Sciences PLC (NASDAQ:TLSA) (LON:TILS), a US and UK biotechnology company that focuses on the discovery and development of novel molecules to treat human disease in oncology and immunology, has announced the appointment of John Brancaccio to its board as a non-executive director. It noted that Brancaccio, a retired CPA, is a financial executive with extensive international and domestic experience in pharmaceutical and biotechnology for privately and publicly held companies. He is currently a director of Cardiff Oncology, Inc.,Rasna Therapeutics, Inc., OKYO Pharma LTD and Hepion Pharmaceuticals, Inc. From April 2004 until May 2017, Brancaccio was the chief financial officer of Accelerated Technologies, Inc., an incubator for medical device companies. From May 2002 until March 2004, he was the chief financial officer of Memory Pharmaceuticals Corp., a biotechnology company. And from 2000 to 2002, he was the chief financial officer/chief operating officer of Eline Group, an entertainment and media company.
Redx Pharma PLC (LON:REDX), the drug discovery and development company focused on cancer and fibrosis, announced that at a general meeting of the company held on Monday, all resolutions put to the meeting were duly passed.
Amryt Pharma PLC (LON:AMYT) (NASDAQ:AMYT), a global, commercial-stage biopharmaceutical company dedicated to developing and commercializing novel therapeutics to treat patients suffering from serious and lie threatening rare diseases has said it will issue its unaudited financial results for the second quarter ended June 30, 2020, on August 6, 2020, at 12.00pm BST. It added that management will host a webcast for analysts and investors on August 6 at 1.30pm BST.
TomCo Energy plc (LON:TOM) has said its annual general meeting will be held at 12.00pm BST on August 5, 2020, at the offices of Novum Securities, 8-10 Grosvenor Gardens, Belgravia, London, SW1W 0DH. Whilst the UK government’s current social distancing rules and guidelines remain in place, no shareholders will be permitted to attend the meeting in person and any shareholder who attempts to attend the meeting in person will have to be refused entry.
Quadrise PLC (LON:QFI) announced that its chairman, Mike Kirk, and CEO, Jason Miles, will provide a live presentation at a Shares & AJ Bell investor evening webinar on Tuesday, July 21, 2020. It will be the first of four companies presenting, each having a presentation slot followed by Q&A, with the webinar taking place from 6.00pm BST. The group said no new material information will be disclosed at the presentation and a copy of the company’s updated presentation being provided will be available on the Quadrise website on the evening of Tuesday, July 21, 2020.
Eco Equity said it has been valued at US$210mln by accounting and consultancy firm Baker Tilly following an assessment of its operations. The cannabis firm said Baker Tilly had met with the executive team of its cultivation project in Zimbabwe and were “very impressed” with its business model and operational progress. Using a weighted valuation method, Eco Equity said the valuation from the consultancy’s report meant its shares were currently worth 56p each compared to the investment price of 10p each in the firm’s first round fundraising.
Hardman & Co Research has issued a research note on Allergy Therapeutics PLC (LON:AGY), a long-established specialist in the prevention, diagnosis and treatment of allergies. It noted that another reassuring trading update stated that the company has hit new records and has the resources in place to fund its pending R&D investment programme required to get its products approved by the regulators. The research report can be viewed at: https://www.hardmanandco.com/research/corporate-research/record-sales-and-a-covid-19-wildcard/