Avacta Group (AVCT), a clinical stage oncology drug company, announced that the first-in-human Phase I trial (ALS-6000-101) of AVA6000 Pro-doxorubicin will advance to the fourth dose cohort of patients following a positive review of the safety and tolerability data from the dosing of the third cohort.

Author @ZaksTradersCafe

San Leon (SLE), the independent oil and gas company, updated in relation to its forthcoming Proposed MLPL Reorganisation and the Further ELI Investments. San Leon said in order to acquire additional interests in OML 18 and take its economic interest to 45% of OML 18, Eroton proposes to enter into new senior secured reserve-based lending facilities totaling $750 million to be provided to Eroton by a lending consortium headed by Afreximbank. SLE is confident that the Proposed Transactions will complete by or during the final quarter of this year.

Oracle Power (ORCP), the international natural resources project developer, announced that it has received confirmation from the Directorate of Alternative Energy of the Government of Sindh that the Letter of Intent has been approved. The company said that following the advance of funds from both Oracle Power and Kaheel Energy on 16 August 2022, its joint venture company is suitably funded in the short term. It expects to finalise the bank guarantee soon, following the conclusion of negotiations to secure the best possible terms for this transaction, to ensure that it maximises the funds within the JV company to support development work for its green hydrogen project in Pakistan.

Firering Strategic Minerals (FRG), an exploration company focusing on critical minerals, announced an operational update on its flagship Atex Lithium-Tantalum Project, in Côte d’Ivoire. The company said its core drilling programme is continuing successfully with pegmatites intersected in every hole. Lithium mineralisation was visually observed in ten out of the eleven holes drilled to date and it is awaiting the assay and XRD results. The discovery of yet another potential pegmatite field in the NNW of its licence area provides further support of the potential of Atex becoming the next lithium development project in West Africa.

Rambler Metals and Mining (RMM), a copper and gold producer, explorer and developer provided a further update to its 2022 underground diamond drilling program at the Ming Copper-Gold Mine, Baie Verte, Newfoundland and Labrador, Canada released on 23 August 2022. The company said it has added a third drill to its program that it is using to drill short holes (up to 30m long) to accurately define the ore extents in and around currently developed levels of the mine.

Gulf Keystone (GKP), an independent operator and producer in the Kurdistan Region of Iraq, announced its results for the half year ended 30 June 2022. The company said that with the strengthening oil price and increased production, it has delivered strong profitability and cash flow generation in the first half of the year. It has continued to develop the Shaikan Field and recently resumed drilling with the spud of SH-16. GKP has paid a record $190 million of dividends in 2022 and announces an incremental interim dividend of $25 million, increasing total dividends declared this year to $215 million.

Another day, another RNS from Power Metal Resources (POW), the London listed exploration company. It announced an update from its wholly owned Australian subsidiary Power Metal Resources Australia Pty Ltd. POW said the grant of the first Wilan Project exploration licence (EL6819) represents a potentially significant milestone, as ongoing desktop work has identified a large Target located wholly within the newly granted licence.

Reabold (RBD) announced that Corallian Energy Limited is continuing negotiations with the potential purchaser for the acquisition of its entire issued share capital. As part of the Potential Sale process, Reabold had entered into a conditional sale and purchase agreement to acquire Corallian’s working interest in all the non-Victory licences within the Corallian portfolio.

EQTEC (EQT), a technology innovation company, confirmed that, further to its announcement on 30 June 2022, Deeside WTV Limited, a wholly owned subsidiary of EQTEC, and Logik Developments Limited are in advanced discussions with a third party for the sale of the Project: a 182,000 tonne waste reception plant along with 2 MW anaerobic digestion facility and a 9.9 MWe EQTEC Advanced Gasification Technology facility.

Hummingbird Resources (HUM) provided an update on the Company’s mine development progress and results from the final assays received from the 2021 Resources and Reserves infill drilling programme at the Kouroussa Gold Mine in Guinea. The company said the latest assay results from its 2021 infill drilling campaign are very positive in terms of grade profile and confidence levels they provide as it moves towards beginning to mine at Kouroussa later this year, ahead of the all-important first gold pour by end of Q2 2023.

LoopUp Group (LOOP), the cloud platform for premium hybrid communications, announced a new material contract win for the Group, and provided both a strategic business update for Cloud Telephony, its primary growth line of business, and a trading update for the six months ended 30 June 2022. LOOP said it has entered into a revenue sharing and customer transfer agreement with American Teleconferencing Services, Ltd. and Audio Telecommunications Technology II LLC, a provider of conferencing services.

Mode Global Holdings (MODE), the FCA registered crypto assets platform, announced that it is now offering Bitcoin Cashback to users from over 300 leading UK retailers, strengthening its vision of building a popular crypto reward wallet in the UK.

Aminex (AEX) announced that seismic and commercial activities on the Ruvuma PSC continue to progress under the direction of the operator, ARA Petroleum Tanzania Limited. The company said progress is being made on the commercial aspects of the development, with gas terms on the Ruvuma PSA being agreed and negotiations for the GSA currently ongoing. This progress reflects the commitment of the Operator and the Tanzanian authorities to work constructively together to advance this extremely important project for the Tanzanian energy sector.

First Tin Plc (1SN), a tin development company, announced that the latest two diamond drillholes received from the Gottesberg tin project in German has intercepted broad zones of higher grade mineralisation. The company said this confirms its exploration model and supports its vision of implementing a possible hub and spoke approach in the broader Tellerhäuser project area. It is awaiting results of the remaining drillholes at Gottesberg so it can combine the data and plan additional drilling that will enable it to update the existing resource under JORC 2012 guidelines.

Conroy Gold and Natural Resources (CGNR), the gold exploration and development company, announced assay results for the first three drill holes in the c. 3,000m eight-hole step-out drilling programme on its Clontibret Gold deposit in Ireland. Eighteen gold zones were intersected, including four new gold zones, and further continuity to the gold mineralisation in the stockwork was established. The company said these results have extended the known stockwork and discovered new gold lodes further enhancing the potential of the Clontibret target area.

Cambridge Cognition (COG), which develops and markets digital solutions to assess brain health, announced that it has won a £2.2 million contract providing cognitive assessments and electronic diaries for a neurodegenerative disease trial. Revenue from the contract is expected over the next two financial years. This is a follow-on sale from a £2.1 million contract announced by the Company on 2 February 2022 with the same customer.

Cloudbreak Discovery (CDL), a natural resources project generator, announced that it has elected to draw down £180,000 of the £10 million Equity Drawdown Agreement with Crescita Capital LLC entered into on 16 February 2021. The shares have been issued at 1.5 pence per share resulting in 12 million new ordinary shares being issued.

Author @ZaksTradersCafe

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The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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