Proactive news headlines: Panthera Resources, Genel Energy, Anglesey Mining, ReNeuron …
Panthera Resources PLC (LON:PAT) said its associated company, Moydow Holdings Limited (Moydow), has secured all the previous drilling, geological, geochemical and geophysical data on the Labola Project, collected by High River Gold Mines Limited (HRG), later acquired by Nord Gold SE (Nordgold). The diversified gold exploration and development company with assets in West Africa and India noted that the Labola (Wuo Land) gold exploration project is located in the Banfora greenstone belt situated in the southwest of Burkina Faso approximately 370 kilometres west-southwest of the capital city Ouagadougou and 100 kilometres northeast of the Wahgnion gold mine.
Genel Energy PLC (LON:GENL) said it has received notice from the Kurdistan Regional Government (KRG) that override payments, whereby the company receives 4.5% of monthly Tawke gross field revenues, will resume with the January 2021 invoice, to be paid in February 2021. Assuming the prevailing oil price, this translates into over $5mln of additional cash proceeds on a monthly basis.
Anglesey Mining PLC (LON:AYM) said it is “much encouraged” by a positive outlook for commodity prices and “increased investor interest” over the last few months and the group added that it has made advances on a number of fronts. In an outlook statement accompanying its results for the six months to September 30, 2020, the company said it is confident that a rise in iron ore prices, as well as other base and precious metals due to the impact of the coronavirus pandemic “, will continue” and that the fundamentals driving the rise in commodity prices will “provide solid support” for its projects.
Sunrise Resources PLC (LON:SRES) said it is aiming for first commercial production in 2021 at its CS Pozzolan project in Nevada. Assay results from the maiden hole of a three-hole programme at the Clayton silver-gold project, also in Nevada, are pending it said alongside results for the year to September 2020. Sunrise posted a loss of £303,000 for the year with cash and equivalents at the year-end of £1.1mln.
ReNeuron Group PLC (LON:RENE), a UK-based global leader in the development of cell-based therapeutics, announced that it has conditionally raised total gross proceeds of approximately £2.5mln through the open offer announced on November 23, 2020, representing the full amount proposed. Accordingly, the company has conditionally raised total gross proceeds of approximately £17.5mln (before expenses) in aggregate by way of the placing and subscription and the open offer. In a statement, Olav Hellebø, chief executive officer of ReNeuron, commented: “Our thanks go to the shareholders that participated in this Open Offer, which has resulted in a total of £17.5 million gross being raised in this significantly over-subscribed fundraising. We are at a very exciting time in the development of the Company. During the months ahead, we will continue to advance our pioneering Phase 2a clinical study in retinitis pigmentosa, including the opening of a UK trial site, and to deliver further clinical data. We will also pursue licensing deals from our exosome platform and from our induced pluripotent stem cell (iPSC) technology with the overall objective of creating significant value in the year ahead.” In a separate statement, ReNeuron announced that at a general meeting held on Friday, all resolutions proposed were duly passed by shareholders.
Power Metal Resources PLC (LON:POW) said early-stage exploration has started at the Alamo gold project in Arizona. Work is focusing on six areas to delineating focus areas for a mini-bulk sampling programme that will follow this fieldwork. Paul Johnson, Power Metal’s chief executive, said these six prospects are related to the areas where coarse gold and gold nuggets had already been identified.
Remote Monitored Systems PLC (LON:RMS) said its Pharm 2 Farm (P2F) subsidiary expects to produce a maximum of 1mln anti-viral face masks in January 2021 and 2mln in February. The mask-making machine is now expected to be delivered on December 28 at the earliest, it added, with factory acceptance testing of the machine taking place today by manufacturer Lemu Group, to be followed by final finishing and hardening in the coming week. Once delivery is taken by P2F’s Nottingham Biocity premises, it can begin building production towards a theoretical maximum capacity of 5mln masks per month if the machine is working 24-hours per day, seven days per week.
Crossword Cybersecurity PLC (LON:CCS) said it is working with the Sultan Qaboos University in Oman as well as the UK Oman Digital Hub to develop a series of technical cybersecurity challenges for the qualifying rounds of the national cybersecurity capture the flag tournament, due to take place on January 14, 2021. The AIM-listed firm said the competition will see students from across the region use their cybersecurity skills and learn from their peers, with topics in the competition to include web security, digital forensics, reverse engineering, network security and cryptography. Crossword noted that the contest forms part of a wider programme in Oman to promote cybersecurity as a career and build a cyber eco-system through coherent initiatives across education, economy and government.
Westminster Group PLC (LON:WSG) said its guarding subsidiary, Keyguard UK, has expanded its guarding and security services to one of the UK’s leading home builders. The contract, which extends a relationship that started in 2018, is valued at more than £750,000 over three years, starting from the beginning of 2021. Keyguard will provide static and mobile guarding and security services at one of the home builders’ many sites in the UK.
Arix Bioscience PLC (LON:ARIX) said that portfolio company Atox Bio has had a new drug application accepted by US regulator, the FDA, for reltecimod, an immunotherapy treatment for organ failure in patients suffering from the “flesh-eating” disorder NSTI. NSTI or necrotizing soft tissue infection is a rare, life-threatening disease that can travel quickly from the infection site and requires frequent, rapid surgical intervention to remove dead and infected tissue to stop further progression and the need for amputation. Atox’s application is for the use of reltecimod in conjunction with surgical debridement, antibiotic therapy, and supportive care.
Zaim Credit Systems PLC (LON:ZAIM), the Russian small loans specialist, has said it continues to exceed expectations with another record month for the online business in November. Amounts funded online rose by 63% to £854,000 in November from September’s level and are up 490% since June. The amount funded offline totalled £303,000, down 17% since September as the lender’s focus switches to its online business.
DeepVerge PLC (LON:DVRG) said a new R&D service designed to quickly validate the impact of ingredients such as probiotics and prebiotics on the skin microbiome has enjoyed significant success. ‘Soft launched’ in August, it has already generated £400,000 in completed sales in the fourth-quarter having inked agreements with 10 new clients that had previously not used the company’s Labskin offering. The deals include framework master services agreements with two of the world’s largest suppliers of consumer products related to skincare, DeepVerge revealed.
U.S. Oil & Gas PLC, the oil and gas exploration company with assets in Nevada, said it has successfully plugged the Eblana-9 well, with the site now ready for remediation. The group said its technical team is currently reviewing downhole data from the Eblana-9 well, along with all previously collected and analysed data, to revise the company’s picture of the oil system in the East and to identify possible additional drill targets. During the Eblana-9 drill, downhole data fully corroborated the pre-drill interpretation of the 2-D seismic lines used to target the well. Structures were encountered as predicted by the interpretation. The company said it believes this development is highly significant, as it greatly increases confidence in the potential of existing seismic lines to accurately identify structures of interest.
Inspired Energy PLC (LON:INSE) said it has completed the disposal of its SME division to its management team by way of a buyout for a total consideration of up to £10.5mln. The energy procurement consultant said the sale will enable it to focus exclusively on its strategy of providing expert assurance and utility cost optimisation services to corporate energy consumers. Inspired said it considered the SME division to be a “non-core activity”, contributing 7% of total revenues during the first half of 2020, and that the division’s performance had also been impacted by the coronavirus (COVID-19) pandemic.
genedrive PLC (LON:GDR), the near-patient molecular diagnostics company, announced that BGF Investments Ltd has exercised its right to convert the remaining £1,500,000 of its Loan Note Instrument into new ordinary shares of 1.5p each in the company. Following this conversion the company will be debt-free. Under the terms of the conversion, BGF will be allotted and issued 6,718,022 new genedrive ordinary shares and will also be paid approximately £226,000 in cash reflecting the accrued interest owed on this tranche of the loan.
Asiamet Resources Limited (LON:ARS) said the US$163mln disposal of its BKM prospect in Kalimantan, Indonesia, has been affected by coronavirus (COVID-19) disruption but it expects to complete it by the end of 2020. The junior has a non-binding agreement for Indonesian group PT Win to acquire the subsidiary that owns the KSK licence that contains BKM. Diligence for the transaction is now nearing completion, Asiamet said, including the proposed IPO of PT WIN on the Indonesian Stock Exchange as well as the binding Sale and Purchase Agreement (SPA) documentation.
Falcon Oil & Gas Ltd. (LON:FOG) (CVE: FO) said that at its general & special shareholders meeting, held via conference call on Thursday, December 10, 2020, all resolutions considered and voted upon by the shareholders were approved. The meeting presentation is available on the Falcon website at https://falconoilandgas.com/
Power Metal Resources PLC (LON:POW) the AIM-listed metals exploration and development company said it has received notices to exercise warrants over 10,899,400 new ordinary shares of 0.1p each in the company. The group said 2,899,400 warrants are being exercised at a price of 1.0p per ordinary share, 6,500,000 warrants at an exercise price of 0.70p each, and 1,500,000 warrants at an exercise price of 0.75p per ordinary shares. Subscription monies of £85,744 have been received by Power Metal in respect of these exercises.
Braveheart Investment Group PLC (LON:BRH) said it was notified on Thursday that Trevor Brown and Vivian Hallam, both directors of Braveheart and persons discharging managerial responsibilities of the company have sold 945,000 and 260,980 Ordinary Shares of 2p each in the group, respectively, at an average price of 22.55p and 20.74p per share, respectively, in on-market transactions. It noted that Brown now holds a total beneficial interest in 7,643,288 ordinary shares (equivalent to 20.60% of the company’s voting rights) and Vivian Hallam now holds a total beneficial interest in 775,562 ordinary shares (equivalent to 2.09% of the company’s voting rights).
Eco (Atlantic) Oil & Gas Ltd. (LON:ECO) (CVE:EOG) announces that its annual and special meeting will be held at 10.00am (Toronto time) on December 30, 2020, at the offices of the chief financial officer of the company at 559 Briar Hill Avenue, Toronto ON M5N 1N1.
Proactive Research has issued a note on Shield Therapeutics PLC (LON:STX) which recently updated on its commercialisation plan for the US market for its oral treatment Feraccru, (Accrufer in the US) to treat iron deficiency. Analyst Emma Ulker noted that while the company has engaged with a range of potential commercial partners for Accrufer, it is unlikely to conclude a deal in 2020 as planned, although STX remains confident that there is still room for negotiating on advantageous terms.