Dev Clever (DEV), the developer of online and immersive career guidance and development platforms, provided a trading update for the financial year ended 31 October 2021.
The company said it had made significant progress in FY21 with revenue expected to be circa £7.4m, an increase in the region of 500%, on the previous financial year (FY20: £1.2m). This figure includes an initially recognised amount of £3.6m for the first phase of its partnership collaboration with Aldebaron DMCC. Adjusted EBITDA is expected to be materially ahead of management’s expectations. The company ended the year with net cash of £7.5m.
Rainbow Rare Earths (RBW) is likely to be in focus in the wake of a gushing write up as a Midas Share Tip in the Mail On Sunday. Joanne Hart wrote that investor excitement centres around Rainbow’s project in Phalaborwa, next to the Kruger National Park in South Africa.
San Leon (SLE) the independent oil and gas production company focused on Nigeria, updated on the proposed reorganisation to consolidate Midwestern Oil and Gas Company Limited’s holding in the company and Midwestern Leon Petroleum Limited into a single holding in the company. San Leon said it has been informed that Eroton, in which San Leon currently has an indirect 39.2% economic interest, has signed a non-binding term sheet with Africa Import Export Bank for a prospective $750,000,000 senior secured reserve-based lending facility. San Leon said Eroton, in which San Leon currently has an indirect 39.2% economic interest, has signed a non-binding term sheet with Africa Import Export Bank for a prospective US$750,000,000 senior secured reserve-based lending facility. The company added that Eroton’s new loan term sheet and its consequential proposed acquisition of an additional interest in OML 18 demonstrates the widespread and ongoing support for OML 18 as a world class oil and gas asset.
Symphony Environmental Technologies (SYM), a specialist in technologies that make plastic and rubber products more sustainable”, is pleased that DEFRA has NOT listed oxo-biodegradable plastic in its November 2021 public consultation as a “frequently littered and problematic plastic.” The Scottish Government has likewise issued draft Regulations in November which do not list oxo-biodegradable plastic. Symphony views this as a major step in the right direction.
Belluscura (BELL), a medical device developer, , announces that the Medicare Administrative Contractor Palmetto GBA MolDx has issued a final local coverage determination for the X-PLO2R™ portable oxygen concentrator. Weighing only 3.25 lbs (1.5kg), the X-PLO2R is the world’s first portable modular oxygen concentrator.
The drip-drip of director buying continues at podcaster Audioboom (BOOM). Michael Tobin OBE, non-executive Chairman of the Company, purchased 2,000 ordinary shares in the company at 990p. Following this purchase, Michael Tobin holds 321,500 ordinary shares in the Company, representing approximately 2.05 per cent. of the company’s issued share capital.
Clinigen Group (CLIN), the pharmaceutical Services and Products company, announces it has signed an exclusive agreement with Nippon Shinyaku Co., Ltd to implement a Managed Access Program for VILTEPSO® for patients with Duchenne muscular dystrophy (DMD) who are amenable to exon 53 skipping therapy. DMD is a progressive muscle disease that primarily occurs in boys due to a genetic mutation in the dystrophin gene.
Rockfire Resources (ROCK), the gold and base metal exploration company, updated on its diamond drilling programme at the Company’s 100%-owned Copperhead porphyry project in North Queensland, Australia. Assay results for the first diamond drill hole (BCH001) are said to signal an excellent result for the company’s inaugural drill hole. Hole BCH001 is mineralised with visible copper veins for most of its length. A lengthy interval of 501 m grading 0.14 % CuEq has been intersected, with the drill hole finishing with visible copper in veins. This extensive interval includes a stronger zone of 244 m @ 0.20 % CuEq, as well as a more intense zone of 62 m @ 0.30 % CuEq.
There was progress at Bluejay Mining (JAY), the exploration and development company with projects in Greenland and Finland. A global investment bank has been appointed as lead arranger for Dundas. There is the commencement of project preparatory activities and works in 2022, and the appointment of Peter Davies as Project Manager for Dundas.
Eastinco Mining and Exploration (EM.P) has engaged the service of Quiver Limited to manage and operate the gravity separation wash plant on the Musasa project in western Rwanda. The Musasa project is restarting operations from 1 December 2021, after a six-month shutdown due to COVID 19 restrictions. Quiver is an African focused specialist mineral processing consultancy.
Ariana Resources (AAU), the mineral exploration and development company announced the second investment of the Asgard Metals Fund, which is being developed as part of its proprietary Project Catalyst Strategy. Asgard Metals Fund is to take an interest in Pallas Resources Limited, a UK company with several large copper and gold licences in highly prolific mineral belts of Kazakhstan. Ariana said that with an extensive portfolio focused on gold and copper, encompassing over 800km2, Pallas is well-positioned across several of Kazakhstan’s highly prolific mineral belts. These areas are host to several multi-million-ounce gold deposits, some of which are in production and under the ownership of western companies.
Serinus Energy (SENX) announced the release of its interim results for the nine months ended 30 September 2021, with the key metrics swinging in the right direction. Revenue for the nine months ended 30 September 2021 was $25.7 million (30 September 2020 – $18.2 million). The company generated net income of $0.8 million (30 September 2020 – loss of $13.7 million). Gross profit for the nine months ended 30 September 2021 was $4.4 million (30 September 2020 – gross loss $1.7 million).
Avacta Group (AVCT), a clinical-stage biopharmaceutical company, announced that the FDA has approved its Investigational New Drug (IND) application for AVA6000. This will allow the Group to expand its Phase I clinical trial, ALS-6000-101, into clinical trial sites in the United States.
Beowulf (BEM), the mineral exploration and development company, announced its unaudited financial results for the nine months ended 30 September 2021. Post period the Kallak North Mining Study was completed and shows that the Kallak mine could produce approximately 2.7 million tonnes per annum of concentrate based on the existing resource for Kallak North only and modelled over an initial 15 years.
Cloudbreak Discovery (CDL) and Alianza Minerals Ltd. announced the acquisition of the Stateline Property, located in Colorado and Utah, United States, which consists of 22 unpatented mining claims from local prospectors. The Alliance revealed its second property acquisition targeting sediment hosted copper mineralisation at the Stateline Project
Amigo Holdings (AMGO), announced its results for the six-month period ended 30 September 2021. The company said that following the Court not sanctioning the original proposed Scheme of Arrangement in May 2021, the Board continues to pursue a new Scheme to address the complaints liability and provide a solution for customers with a valid complaint.
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