Open Orphan (ORPH), (to be renamed hVIVO plc (AIM: HVO) effective 26 October 2022), a contract research organisation, announces its unaudited interim results for the six months ended 30 June 2022.
Revenue was of £18.9m (H1 2021: £23.2m), with a strong order book for delivery in H2 2022. The company said that at 1 September 2022, Open Orphan’s order book of signed contracts had increased further to c. £80m, which is expected to be recognised across 2022, 2023 and 2024, and it remains well capitalised with a cash balance of c.£20m.
Speaking of name changes, Fiinu (BANK), a fintech company and creator of the Plugin Overdraft®, announced that the change of its subsidiary’s name from Fiinu 2 Limited to Fiinu Bank Limited has been approved by The Secretary of State, registered at Companies House and appears on the Financial Services Register.
Sovereign Metals (SVML) reported first results from its H1 2022 AC drilling program at the Kasiya Rutile Project (Kasiya), the world’s largest rutile deposit in Malawi. The results confirm that rutile mineralisation is continuous in many pit areas from surface down to the top of saprock, normally between 20m and 30m from surface. Results reveal the potential for mining pits to be extended at depth to the top of saprock in numerous areas.
Tirupati Graphite (TGR) announced that its subsidiary Tirupati Madagascar Ventures SARL has entered into agreement to acquire three additional mining permits in Madagascar, covering a total area of 31.25km2. The consideration agreed for the acquisition is a total of MGA 800 million (c.£167,000). The transfer requires approval by the ministry of Mineral Resources and application thereof is in the process of being made to the Bureau du Cadastre Minier de Madagascar.
Greatland Gold (GGP), a mining development and exploration company, provided an exploration and development update at the Havieron gold-copper project in the Paterson region of Western Australia. The company said growth drilling program at Havieron continues to deliver outstanding results as high-grade extensions to the mineralisation are identified across the expanse of the ore body.
Duke Royalty (DUKE), a provider of alternative capital solutions, announced its audited final results for the 12 months ended 31 March 2022. This revealed a 67% year on year increase in total cash revenue to £18.4 million (FY21: £11.0 million), driven by a strengthening of the underlying investment portfolio and increased deployments. The company said it was delighted to report significant growth across all its core KPIs for the 12 months to 31 March 2022.
Chaarat Gold (CGH), the AIM-quoted gold mining company, published its unaudited results for the six-month period ended 30 June 2022. Revenue was up 5% in H1 2022 ($50.4 million) compared to H1 2021 ($48.1 million), reflecting stronger commodity prices and a higher volume of own ore sales (25,118 ounces of AuEq in H1 2022 vs 22,909 ounces in H1 2021). The company said Kapan remains on track to deliver on its full-year guidance of 56-62koz, comprising of 50-53koz from own ore and 6-9koz from third-party ore. The company has also exercised its discretion to waive the requirement for a mandatory offer by Labro Investments Limited upon the acquisition of up to 7,500,000 shares in the market.
Alien Metals (UFO), a minerals exploration and development company, announced that it has completed and closed a Placing and Subscription. The Fundraise has raised gross proceeds of £1.5 million through the placing at 0.5p. As well as working capital, the funds will be used to accelerate a previously announced drilling program at the Brockman Iron Ore Project.
Beowulf (BEM) announced the positive conclusions from additional analysis of drilling and exploration activities in and around the Majdan Peak South target within the Mitrovica licence in Kosovo, which has produced new exploration targets each of which could represent an economic deposit.
ATOME Energy (ATOM), the green hydrogen and ammonia production company, announced the entry into two significant Memoranda of Understanding in Paraguay. The MOUs are timed to coincide with the Invest in Paraguay conference currently being held by the Government of Paraguay in association with the Inter-American Development Bank and at which ATOME’s Chair, Peter Levine, is speaking.
Shield Therapeutics (STX), a commercial stage specialty pharmaceutical company, reported its unaudited interim results for the first half of 2022 (H1:2022). The company said it delivered a strong first half of 2022 and executed well across the company’s main commercial priorities. It is increasing awareness, developing new writers, growing prescriptions and expanding payor access, all with a small, motivated commercial footprint in the US.
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