RNS Hotlist with Zak Mir: ORPH, EUA, PIRI, AXL, EST, CLON, MNRG, CUSN, RMM, POW, CORA & KAV via Vox Markets

Yet another bumper contract for Open Orphan (ORPH), a specialist contract research organisation, who announced that hVIVO, a subsidiary of Open Orphan, has signed a £7.3m influenza human challenge study contract.

Author @ZaksTradersCafe

This is with a leading biotechnology company to test its antiviral product using the hVIVO Influenza Human Challenge Study Model. Open Orphan said that hVIVO has seen a steady increase in flu studies, a reflection of the shift in market sentiment following recent scrutiny of infectious disease data that has outlined the significant threat of flu.

Eurasia Mining (EUA), the palladium, platinum, rhodium, iridium and gold producing company, which has just thankfully come out of a brief stock suspension, said that Artem Matyushok has been appointed as an independent Non-Executive Director of Eurasia with immediate effect.

Pires Investments (PIRI), the investment company focused on next generation technology, noted the announcement made yesterday by London-listed venture capital fund Sure Ventures, providing an update on its portfolio. This included its principal investment in Sure Valley Ventures, in which it has a 25.9% interest. During Q1 of 2022, SVV’s NAV per share increased from €1.33 to €1.47 which has driven SV plc’s NAV per share to 128.9p, representing an 8.9% uplift compared to its NAV per share at 31 December 2021 of 118.3p. The Q1 2022 growth in NAV was principally driven by the funding round secured by Getvisibility during this period when it raised €10 million in equity.

Blossoming stock market newcomer Arrow Exploration (AXL) announced the results of the Rio Cravo Este-2 well testing on the Tapir Block in the Llanos Basin of Colombia. The RCE-2 well was spud on April 2, 2022. RCE-2 targeted a large, three-way fault bounded structure with multiple high-quality reservoir objectives on the Tapir Block in the Llanos Basin of Colombia. The well was drilled to a total measured depth of 9,600 feet and encountered six hydrocarbon bearing intervals totaling 90 net feet of oil pay.

East Star Resources (EST), the Kazakhstan-focused gold, copper and now rare earths explorer, revealed a farm-in to the Talairyk Ionic Adsorption Clay Heavy Rare Earth Element project in the Kostanay region of Kazakhstan. The company said the Talairyk project represents the exact reason East Star is focussed on Kazakhstan. There are very few places in the world where a company can find a project of this “quality and potential.”

Clontarf Energy (CLON), provided an operational update on the drilling of the Sasanof-1 exploration well and said it will issue further updates upon the completion of campaign milestones. Drilling operations are expected to start during week starting Monday 23rd May.

MetalNRG (MNRG) said that it has completed its Phase I geochemical campaign at its Gold Ridge Gold mine property in Arizona with “very encouraging” results that pave a pathway to further exploration work to be focussed and planned. The company said “these results confirm our previous beliefs, that there is indeed a real possibility of a larger un-discovered gold/base metal system at Gold Ridge.”

Cornish Metals (CUSN), a mineral exploration and development company, released its annual audited financial statements and management, discussion and analysis for the year ended January 31, 2022. The company said that since listing last year it has simplified its capital structure, advanced the exploration program at United Downs, increased the Mineral Resource Estimate for South Crofty, reached agreement on the deferred consideration for the Cornish assets and agreed to the leasing of additional mineral rights at South Crofty.

Rambler Metals and Mining (RMM), a copper and gold producer, said that Toby Bradbury, Chief Executive Officer of the Company, has purchased 50,000 shares in the Company at a price of 23.4p per share. Bradbury now has 0.44% of the company.

Power Metal Resources (POW), the London listed exploration company announced an update from the Ditau Camp Project located in southwest Botswana. The company said that the core extracted from hole DITDD004’s Zone of interest, spanning a combined 28m, is “fascinating” from a geological perspective and it is “eager” to see the results from further analysis.

Cora Gold (CORA), the West African focused gold company, announced the second set of drill results from its recently completed 2022 drill programme at the Company’s Sanankoro Gold Project in southern Mali. The company said the latest results from Zone B North once again show shallow oxide mineralisation of good widths and grade. 17m at 2.85 g/t Au is a “very positive” drill hole as it targets upgrading the Zone B North deposit to Indicated Resources.

Kavango Resources (KAV) announced the successful completion of exploration hole DITDD004. DITDD004 was drilled to a depth of 389m into the i10 Target, a discrete 2.2km diameter magnetic anomaly that Kavango had previously modelled as a possible carbonatite. The company said DITDD004 appears to have intercepted the magnetic anomaly at the projected target depth.

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Author @ZaksTradersCafe

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