RNS Hotlist with Zak Mir: LIFS, UOG, TXP, OKYO, SED, CTL, BRES, EDL, AFN, VAL, HE1, NCYT, SCIR, ECHO & VNET via Vox Markets

LifeSafe (LIFS), a fire safety technology business, provides a trading update for the eleven month period ended 30 November 2022. The company reported that sales growth through the Group’s consumer channels has materially exceeded its expectations in the eleven months to 30 November 2022.

Author @ZaksTradersCafe

Revenue in that period is now above current market guidance of £3.0 million for the full year ending 31 December 2022. The Board has therefore upwardly revised its expectation of FY22 revenue to between £3.5 million and £3.8 million.

United Oil & Gas (UOG), the oil and gas company with a portfolio of production, development, exploration and appraisal assets, announced the spudding of the ASW-1X exploration well in the Abu Sennan licence, onshore Egypt. United holds a 22% non-operating interest in the Abu Sennan licence, which is operated by Kuwait Energy Egypt.

Touchstone Exploration (TXP) announced that the company launched a private placement in Canada on December 5, 2022 to raise a minimum of C$7.5 million (£4.5 million) up to a maximum of C$10 million (£6.1 million) at a price of C$0.90 (54.5p).

OKYO Pharma (OKYO), an ophthalmology-focused bio-pharmaceutical company, said it has filed a registration statement on Form F-1 with the SEC relating to a secondary public offering of its ADSs, each of which will represent 65 of the company’s ordinary shares of no par value each in the United States.

Saietta (SED) announced substantial progress in its stated strategy for the Indian light duty mobility market. The company said that through its joint venture in India, Saietta VNA, it has signed the first of a series of agreements with a global OEM which is one of the largest OEM’s operating in the light duty mobility market in India. In line with its recently announced strategy to focus on substantial customers with significant longer-term contract potential, it has now reached agreement with a global OEM to prepare for large scale commercial production at Saietta VNA’s production facilities in India.

CleanTech Lithium (CTL), an exploration and development company, announced an operations and corporate update including progress achieved during a recent Board visit to Chile, in which very positive meetings were held with Chilean Government representatives, and on other activities as the company maintains progress towards the expected commencement of lithium production in 2025.

Blencowe Resources (BRES), announced that additional metallurgical test work on its Orom-Cross graphite project in Northern Uganda has been completed by leading technical specialist firm IMO based in Perth, Australia. The company said his work is critical to understanding the quality of the end-product that Orom-Cross can deliver as a high-grade graphite concentrate, as well as what the process flow will look like to achieve this on a pre-commercial scale. It also provides significantly greater quantum of end product for end user testing which is critical for the Definitive Feasibility Study.

Edenville Energy (EDL) is pleased to provide an update on operations at its Rukwa Coal Project in Tanzania, together with a placing to raise gross proceeds of £400,000. The company said that whilst the operations at Rukwa have proved challenging, it believes it has now put in place an operational structure that will enable the potential of Rukwa to be properly exploited.

ADVFN (AFN) said it is announcing a proposed equity fundraise of up to approximately £6.82 million, through an Open Offer. Qualifying Shareholders are offered to subscribe at an Issue Price of 33p per Open Offer Share on the basis of 11 Open Offer Shares for every 14 Existing Ordinary Shares for an aggregate of up to 20,676,322 Open Offer Shares.

ValiRx (VAL), a life science company, provided an update on operational activities and strategy. The company said that it is currently operating as a virtual Biotech Company, ValiRx out-sources all testing of current evaluation and pre-clinical projects to a wide range of external contract research organisations. It is of the view that this fragmented approach to early-stage drug development is non-optimal and is assessing options to acquire capabilities and infrastructure to create a more efficient and effective translational drug development service for both internal and 3rd party use.

Helium One (HE1), the primary helium company with exploration licences in Tanzania announced audited results for the year ended 30 June 2022. HE1 said this was a significant year as it completed its first two exploration wells in Rukwa and significantly de-risked the Rukwa project by identifying a working helium system at our Tai prospect. As the Phase II exploration moves towards drilling, it has the potential to prove up what it believes to be a world class helium province.

Novacyt (NCYT), an international specialist in clinical diagnostics, announced that the company’s genesig® COVID-19 3G Real-Time PCR test has been approved in the UK, making it the company’s seventh PCR test to be added to the CTDA register of approved COVID-19 diagnostic products.

Scirocco (SCIR), the AIM investing company, provide an update on the divestment of the Ruvuma asset, where Scirocco has entered into an agreement to sell its 25% interest to ARA Petroleum Tanzania . The Tanzanian Fair Competition Commission has now granted its unconditional approval for the transaction and issued the Company with the Merger Clearance Certificate. The issuance of the certificate is an important step towards completion of the asset divestment.

Echo Energy (ECHO), the Latin American focused energy company, provided an operational update regarding progress in the reactivation of three wells in the Chorillos field, announced by the company on 10 November 2022. Echo said this three well reactivation programme is in addition to the enhancement plan first announced by the company in July and has been prioritised by the Santa Cruz Sur partners in seeking to further increase liquids production from the Chorillos field.

Vianet Group (VNET), an international cloud base provider of business intelligence, announced its unaudited results for the six months ended 30 September 2022. Adjusted operating profit hit £1.21 million (H1 2022: £0.82 million) – a 48% increase. EBITDA came it at £1.37 million (H1 2021: £0.99 million) – a 38% increase.

Author @ZaksTradersCafe

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