RNS Hotlist with Zak Mir: ORPH, MILA, TOM, FCAP, BVC, BHL, SOS, BOIL & IAE via Vox Markets

Open Orphan (ORPH), (to be renamed hVIVO plc (Ticker: HVO) effective 26 October 2022), a specialist contract research organisation, announced the appointment of Stephen Pinkerton as Chief Financial Officer and as an Executive Director, effective with immediate effect

Mila Resources (MILA), the post-discovery gold exploration accelerator, announced highly encouraging preliminary visual results from the deepest holes drilled to date at its Kathleen Valley Gold Project in Western Australia as part of its ongoing ~13,500m programme. The two deepest holes so far drilled at Coffey (KVDD0036 and KVDD0037) have intersected the down dip extension of the mineralised Coffey shear zone (figure 1) and encountered three additional sheared zones either side of the main shear zone over an apparent 87m wide length at ~339-426m.

TomCo Energy (TOM), the US operating oil development group focused on using innovative technology to unlock unconventional hydrocarbon resources, announces that the company has received a conversion notice from certain Convertible Loan subscribers to convert £137,500 principal amount of the second tranche of the Convertible Loan and the associated interest of £6,875 (5%), into new Ordinary Shares.

finnCap (FCAP) said it noted recent speculation and confirms that it has received indicative non-binding proposals from Panmure Gordon Group Limited regarding a possible combination of the two companies structured as the acquisition for cash of finnCap by Panmure Gordon with the alternative for electing shareholders to receive partial consideration in Panmure Gordon securities. Discussions between the Company and Panmure Gordon are still at an early stage.

BATM (BVC), a provider of real-time technologies for networking solutions, announced that it has signed a multi-year contract with CityFibre, the UK’s largest independent carrier-neutral Full Fibre platform, to begin the deployment of its Edgility virtual networking and edge compute solution, with this initial order expected to be worth $3.5 million. BATM expects this order to be rapidly followed by a substantial expansion in deployments as CityFibre rolls out Edgility to its full network.

Bradda Head Lithium (BHL), the North America-focused lithium development company, announced the completion of a further step-out drilling phase at its Basin East lithium in clay project in Arizona as well as a reduction of claims at Wikieup South. The company said these further results from Basin East are a significant addition to the existing resource base established at its Basin project. The results should bolster the Basin MRE and further demonstrate the potential in the ground of its clay assets and it is particularly excited about the intervals shown in holes BES-22-01 and BES-22-02, both located on the western side of BE near the BEE where Bradda will be starting drilling shortly.

Sosandar (SOS), a UK fashion brands in the UK, provided a trading update covering the six-month period ended 30 September 2022. The company said trading throughout H1 FY23 has been strong with continued revenue growth and our second six-month period of positive PBT. Net revenue of £20.9 million, was a 72% increase against the same period in the prior year (H1 FY22: £12.2m).

Baron Oil (BOIL), the AIM-quoted oil and gas exploration and appraisal company, announced that Baron’s wholly owned subsidiary, SundaGas Banda Unipessoal Lda. which operates the TL-SO-19-16 Production Sharing Contract offshore Timor-Leste, has been granted a six-month extension to Contract Year Two of the PSC by the relevant Timor-Leste national authority, Autoridade Nacional do Petróleo e Minerais.

It would appear that some still have faith in the idea of a stock market listing, despite all the barriers to entry, the cost, the red tape and the current “volatile” conditions. Ithaca Energy (IAE), a UK independent exploration and production company focused on the UK North Sea, announced that it intends to publish today a Registration Document and is considering proceeding with an initial public offering. Ithaca Energy is considering applying for admission of its ordinary shares to the premium listing segment of the Official List of the FCA and to trading on the main market for listed securities of the London Stock Exchange.

Author @ZaksTradersCafe

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