RNS Hotlist with Zak Mir, 21st December 2021, ORPH, IME, XTR, EUA, JAN, BEM, FRG, TUN, ROQ & GST via Vox Markets

Another day, another contract win from Open Orphan (ORPH), the specialist contract research organisation and vaccine and antiviral testing company using human challenge clinical trials. It announced that hVIVO, a subsidiary of Open Orphan plc, has signed a £5m influenza human challenge study contract with a biotech company.

By Zak Mir

The study is expected to commence in H2 2022, and Open Orphan expects the majority of revenues to be recognised in 2022. The company said it has now signed contracts for 95% of its 2022 forecasted revenues. This is the fourth Influenza human challenge study signed in 2021.

Immedia (IME), a supplier of multi-media content and digital solutions for leading brands and global businesses, came up with a rather busy update. This included a contract extension with IKEA for a further three years, warrant extension to 30 June 2022 and increasing the Sprift loan to £2.55m from £1.05m.

Xtract Resources (XTR) said that independent laboratory assays have been received for drill hole BRDD-021-015 on the Phase 2 diamond drilling programme at the Bushranger copper-gold exploration project. The company said that there are higher grade gold intervals above the copper mineralised zones, suggesting zones of gold do exist in the system.

Eurasia Mining (EUA), the platinum group metals producing company, announced that it has appointed Mr. Kotaro Kosaka as a non-executive Director of the Company. Eurasia said it sees significant interest from Japan in PGM and battery metals assets. With JOGMEC and Hanwa having already acquired PGM assets in South Africa, the Japanese players are interested to further expand their presence in lower cost and energy abundant mining jurisdictions. Kosaka’s appointment is a part of the execution of EUA’s strategy as previously announced.

Jangada Mines (JAN), a natural resources company, updated on the preparation of the Feasibility Study of the Pitombeiras Ferrovanadium Project located in the state of Ceará, Brazil. The company said as the FS reaches finalisation, it is very encouraging to confirm it has had no technical or geological impediments to proceeding. The economics of the Project are, as expected, dependant on the commodity process and the extraction of the right commodity basket. On the advice of GE21, it is assessing the potential of the titanium component of the Project. This, together with the pricing variabilities in the iron ore and vanadium prices, has pushed back the completion date of the FS to Q1 2022.

Beowulf (BEM), the mineral exploration and development company, updated on its application for an Exploitation Concession for the Kallak North Iron Ore Project. The company said that it is very pleasing that the new Minister of Enterprise and Innovation has injected new momentum into the handling of the Company’s Kallak application, and has sought to consult with Sami stakeholders, including, in the last week, the Sami Parliament’s Chairman of the Board.

Market newbie, Firering Strategic Minerals (FRG), an exploration company focusing on critical minerals, said that SEMS Exploration has completed the first regional detailed geological map of the Company’s flagship Atex Lithium-Tantalum Project in Côte d’Ivoire. The company said that, as of 16 December 2021, it has completed 240 auger holes as part of its Phase 1 exploration programme.

Tungsten West (TUN), the owner and operator of the Hemerdon Mine in South West England, announced its half-yearly results for the six months ended 30 September 2021. The company said The first half of the financial year was one in which it continued to prepare for recommencement of mining operations, with significant progress made on designing the re-build of the processing plant, strengthening the management team, finalising the AIM admission process and agreeing terms with Orion Resource Partners for arranging project finance from a Royalty and Senior Loan Facility. After completing a successful admission to AIM and securing sufficient funds to complete the investment and working capital required to restart production at Hemerdon, TUN said it is well positioned for 2022.

Roquefort Investments (ROQ), the London listed investment company focused on early-stage opportunities in the biotechnology sector, announced the completion of its acquisition of the entire issued share capital of Lyramid Pty Limited for an initial consideration of a cash payment of £500,000. The company’s admission follows a successful placing of £3,000,000 at 10p.

GSTechnologies (GST), the fintech and information technology solutions company, announced its interim results for the six months ended 30 September 2021. The company said despite the backdrop of the continuing pandemic the period has been one of significant progress. Revenue continues to be provided by its subsidiary, EMS Wiring Systems Pte Ltd, whilst the GS Fintech companies are currently pre-revenue.

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