Bens Creek Group (BEN), the owner of a metallurgical coal mine in North America, announced that it has raised £6.0 million, perhaps something of a bolt from the blue.
The company said it was grateful for the strong support for its strategy by new and existing shareholders, particularly MBU and its beneficial owner Mohammed Iqbal. The net proceeds from this Placing and Subscription will enable it to fulfil the next stage of its growth strategy which is to move away from a contractor model and become an owner of its own rolling stock of heavy equipment.
LifeSafe (LIFS), a fire safety technology business, announced that it has been granted a patent in the UK for the Group’s eco-friendly fire extinguishing fluid known as FER1000. The Group was founded in 2015 to develop an innovative, novel and eco-friendly fluid capable of extinguishing multiple types of fire. Following a successful testing programme, an initial patent application was submitted in April 2017 for the Company’s FER1000 fluid.
Intelligent Ultrasound (IUG), the ‘classroom to clinic’ ultrasound company, announced its unaudited half year results to 30 June 2022. The company said it has made an excellent start to the year. Although Covid-19 has restricted sales in China, it simulation revenues grew by over 50% thanks to an outstanding performance from the UK and sales of the new clinical AI related products are starting to grow. The recent announcement that our ScanNav Assist software has now been incorporated on GE Healthcare’s new Voluson Expert 22 ultrasound machine is particularly encouraging.
TERN said it noted that in its press release dated 11 August 2022, FundamentalVR, an independent privately held company, stated that it “has raised an additional $20 million to significantly accelerate medical skill-transfer and increase surgical proficiency through its world-leading medical simulation platform, Fundamental Surgery.” Tern confirmed that all the information disclosed in its announcement dated 11 August 2022 is correct and understands that the figure of $20 million referred to by FundamentalVR includes committed contingent funding yet to be received by FundamentalVR.
Chill Brands Group (CHLL), the international consumer packaged goods company, announced that it has entered into a brokerage agreement with Bellator Group LLC to support and expand US distribution of its product lines. As part of the agreement, Bellator will work closely with Chill Brands’ internal sales team to monitor market trends.
Kavango Resources (KAV) said it has successfully concluded its “Proof of Concept” exploration programme in the Kalahari Suture Zone. The company said that when it first set out on this project it was purely conceptual in nature. Today, it has assembled a significant data set that validates the discovery potential.
Tekcapital (TEK), the UK intellectual property investment group, announced that Innovative Eyewear Inc. a subsidiary of portfolio company Lucyd, has closed its $7.35 million Initial Public Offering.
Empire Metals (EEE), the AIM-quoted resource exploration and development company, announced the results of the airborne magnetic survey carried out in June 2022 at the Pitfield Copper-Gold Project, located in Western Australia. The company said that this is a tremendous result for Empire, and clear evidence of the mineralised potential of this geologically significant asset. Early success from the airborne magnetic survey has confirmed that the historical geochemical sampling closely aligns with a significant magnetic anomaly.
Westminster Group (WSG), a supplier of managed services and technology-based security solutions, announced its unaudited interim results for the six months ended 30 June 2022. The company said the outlook for 2022 is positive as the impact of the global pandemic recedes and with the worst of the disruption and travel challenges behind it.
East Star Resources (EST), the Kazakhstan-focused gold, rare earths and copper explorer, provided an interim update on the ongoing Diamond Drilling programme on the Apmintas Licence on the Chu-Ili Orogenic Gold Belt in Kazakhstan. The company said it has seen consistent sulphides over large intersections as well as quartz veins which have the potential to carry much higher grades as they have done in historical surface samples and in its RC drilling. The presence of chalcopyrite will help to build a geological understanding of the deposit and the region.
Light Science Technologies (LST), the controlled environment agriculture technology group, provided an update regarding the company’s growing sales pipeline and increased forward order book. The company said it was delighted that there is growing demand for paid-for trials, which have the potential to generate significant revenues.
Pantheon Resources (PANR), the AIM listed oil and gas company, announced the conclusion of drilling operations, and the commencement of preparations for stimulation and flow testing at the Alkaid #2 well. The company said it has achieved another important milestone in demonstrating the ability to successfully drill a long lateral well.
SYME (SYME), the fintech business, announced the results of an open offer. The open offer has raised gross proceeds of £320,855.04 (and net proceeds of £269,855.04).
First Class Metals (FCM), the UK metals exploration company, provided an update on activities in respect to the Esa claim block. The company said it was delighted that it has managed to acquire the raw data to a recent modern VTEM survey which incorporates the Esa property, from a previous claim owner at zero cost to FCM. This data set has now been forwarded to Patterson Grant Watson Ltd.
Ariana Resources (AAU), the AIM-listed mineral exploration and development company, announced an updated Mineral Resource Estimate for the Apliki Copper Project, for which Venus Minerals Ltd. has entered into a formal conditional 50:50 Joint Venture agreement with Hellenic Apliki Mines Ltd. Venus is focused on the exploration and development of copper and gold assets in Cyprus and is 50% owned by Ariana. Ariana said within two years, through Venus, Ariana has achieved its objective of establishing a substantial copper resource base in Cyprus, which now comprises 34Mt with a grade range of circa 0.3 to 1.10% copper. Even at the lower end of this grade range, and excluding the potential of by-product metals, such as gold, this represents substantial in-ground (risked) value.
Invinity Energy Systems (IES), a manufacturer of utility-grade energy storage, announced that it has successfully delivered, installed and energised a 1.8 MWh VS3 flow battery system at the European Marine Energy Centre hydrogen R&D facility on the island of Eday in the Orkney Islands, UK.
TECC Capital (TEC) announced its final audited results to 31 March 2022. During the period, the majority of the company’s administrative expenditure has related to one-off expenses incurred in connection with Admission. In addition, some additional costs have been incurred in conducting due diligence on opportunities under consideration by the Board. The loss for the period was £253,408. On 26 July 2022, the Company invested £300,000 into a Convertible Loan Note with EDX Medical Ltd, a company established by Professor Sir Christopher Evans.
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