Bens Creek Group (BEN), the owner of a metallurgical coal mine in North America, said that it was notified on 4 July 2022 by John Story that, following a sale of 12,175,963 ordinary shares in the Company on 29 June 2022 at an average price of 40.778 pence per share, he no longer holds a notifiable interest in the company’s issued share capital.
It will be interesting to see whether this sale marks the bottom for the stock. It remains intriguing as to why the sale was not done nearer to the highs for Bens over 100p, or handled in a rather smoother fashion?
AfriTin Mining (ATM), an African technology metals mining company, said that its majority owned subsidiary, Uis Tin Mining Company (Pty) Limited, has entered into a conditional, credit approved, term sheet for a lending facility with the Development Bank of Namibia Limited to fund the Uis Phase 1 Stage II Continuous Improvement Project. The company said the new strategic financing partnership reinforces its commitment to developing long-term relationships within Namibia and ultimately will be to the benefit of the people of Namibia.
ValiRx (VAL), a life science company, announced that the Broker Option granted to Turner Pope Investments (TPI) Limited has been fully subscribed, receiving applications for 10,000,000 Ordinary Shares (representing £1.0 million raised before expenses) available on the same terms as the Fundraising. The good people of TPI certainly sung for their supper in terms of getting the recent £1.5m placing away in current stock market conditions, where it would be easier to raise the Titanic.
PetroTal Corp. (PTAL) updated on Q2 2022 production averaged approximately 14,500 barrels of oil per day, a new quarterly record, representing 7% above revised guidance provided on May 26, 2022, the seventh straight quarter of production growth. The company said Q2 2022 was a strong operational period, having unconstrained production for the majority of the quarter. Production was supported with strong oil rates from wells 8H, 9H, and 10H, each flowing between 3,000 and 4,000 bopd with well 11H commencing production on June 30, 2022 at an initial four-day average of 9,550 bopd.
Totally (TLY), a provider of frontline healthcare services, continues to blow the fundamental lights out. The latest is that it has signed contract extensions for the provision of five urgent treatment centres across North-West London. The Contract Extensions, together valued at £19 million, have been awarded to Totally’s wholly-owned subsidiaries, Greenbrook Healthcare Limited and Vocare Limited, which make up its Urgent Care Division and run until 31 January 2023.
Cizzle Biotechnology (CIZ), the UK based diagnostics developer, updated on its progress to develop antibodies for use in its proprietary early lung cancer tests, and to announce a new project that may extend the range of early-stage cancers that its technology can detect, with a focus initially on breast cancer. The company said the recent progress made in developing these tests at Cizzle Biotechnology, not just for lung cancer, but for a range of other cancers is a significant step forward in its ambitions to provide the right tools to improve cancer patient outcomes
Nuformix (NFX), a pharmaceutical development company, announced that both of the abstracts submitted for presentation at the European Respiratory Society International Congress 2022 in Barcelona on September 4-6, on its lead asset NXP002, have been peer-reviewed and accepted for presentation. NXP002 is a potential novel inhaled treatment for Idiopathic Pulmonary Fibrosis
Oxford BioDynamics (OBD), a biotechnology company, confirmed the assignment and publication of a Proprietary Laboratory Code by the American Medical Association’s CPT Editorial Board. The code, 0332U, was issued for the EpiSwitch® CiRT to Oxford BioDynamics Plc and its partner lab NEXT Bio-Research Service LLC.
Invinity Energy Systems (IES), a manufacturer of utility-grade energy storage, noted the official launch of the Energy Superhub Oxford, marked today with Europe’s most powerful electric vehicle (EV) charging hub and the launch of the world’s largest hybrid energy storage system, incorporating a 5 MWh Invinity Vanadium Flow battery. The company said, Developed by Pivot Power, part of EDF Renewables, this achievement marks an important step in the UK’s shift to renewables and the widespread rollout of critical EV charging infrastructure.
Mast Energy Developments (MED), the operator in the Reserve Power market, updated with regards to its producing asset, the 9 MW Pyebridge Synchronous Gas-powered Standby Generation Facility that was acquired in August 2021. The company said the past few months have been used fruitfully and provided the MED management and operational teams the opportunity to further optimise and enhance the Site’s performance.
Mkango Resources (MKA) announced the results of the DFS for the Songwe Hill Rare Earths Project in Malawi, which contained something of a wow factor. This included $559.0 million post-tax NPV, using a 10% nominal discount rate, with an IRR of 31.5%, payback period of 2.5 years from full production (5 years from start of capital expenditure) and post-tax life-of-operations nominal cash flow of $2.1 billion. The DFS is for 100% of Songwe on a stand-alone basis. Under the Mines and Minerals Act of Malawi, the Government of Malawi is entitled to a 10% free carried interest in Songwe.
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