Open Orphan (ORPH), a specialist contract research organisation, noted the announcement from Poolbeg Pharma (POLB), regarding a number of new investors having expressed interest in acquiring up to £1.6m of Poolbeg which are currently locked-up as a result of the distribution in specie from Open Orphan on 18 June 2021.
As part of these proposals, the New Investors have committed to purchase up to £1.6m of the distribution in specie shares on or around 26 April 2022 at a price of 5.9p, the closing market price on Friday 8 April 2022.
Oracle Power (ORCP), the international natural resources project developer, updated with respect to developments during Q1 2022. The company said it is looking to consolidate, advance and commercialise its now diverse portfolio of interests and establish itself as a natural resource project developer on an international scale. Its Northern Zone Project in Australia delineated an Exploration Target of 2.5-4.8Moz gold.
Avacta Group (AVCT), a clinical stage oncology drug company, said that a milestone equity payment has been triggered resulting in an increase in Avacta’s shareholding in AffyXell Therapeutics, a joint venture between Avacta and Daewoong Pharmaceutical in South Korea.
ImmuPharma (IMM), the specialist drug discovery and development company, revealed positive data from the Lupuzor™/P140 pharmacokinetic study, required by the US Food & Drug Administration, as part of the new optimised international Phase 3 trial of Lupuzor™ in lupus patients.
East Star Resources (EST), the Kazakhstan-focused gold and copper explorer, announced the completion of processing of 380km2 of close spaced drone magnetics flown between July and October 2021 over the Apmintas Licence in the Chu-Ili orogenic gold belt.
Deal of the day came from Shearwater Group (SWG), the organisational resilience group, as its group company, Brookcourt Solutions, has secured a significant new contract win to the potential value of up to c.£21.0m with a leading telecommunications and media company. The initial, secured value of the contract, across an initial three year term, is £12.9m, with the contract including an option to extend by a further two years for a total additional value of c.£8.0m.
SolGold (SOLG) provided a drilling update on its Tandayama-Ameríca porphyry copper-gold deposit at the Cascabel project in northern Ecuador. The company said the assay results from holes 19-40 extend mineralisation potentially mineable by both open pit and underground bulk mining methods and suggest capacity for resource growth. Mineralisation remains open both along strike north and south, and at depth in the southeast.
Mobile Streams (MOS) has signed a contract with Fanzine Limited to become their exclusive producer of Non-Fungible Tokens across all Fanzine Limited’s websites, apps and digital platforms where they have a community of over 3 million football fans globally.
Europa Oil & Gas (EOG), the UK, Morocco and Ireland focused oil and gas company, announced its interim results for the six-month period ending 31 January 2022. The company noted financial results for the first half, which saw revenue quadruple to £2.2 million and a swing back to profitability from recent years.
Amur Minerals (AMC), the nickel-copper sulphide mineral exploration and resource development company focused on the far east of Russia, said it has been continuously reviewing the EU, UK and USA sanctions documentation. To date, there has been minimal impact to the company.
Union Jack Oil (UJO), a UK focused onshore hydrocarbon company, has submitted an appeal on behalf of the Joint Venture participants, against the refusal of planning permission by Lincolnshire County Council for a side-track drilling operation, associated testing and long-term oil production at the Biscathorpe site.
Cobra (COBR), an exploration company, has been granted a 536 km2 exploration tenement directly east of, and contiguous with, the Wudinna Project. The tenement complements the Company’s existing strategy, with the newly acquired ground considered highly prospective for gold and Ion Adsorption Clay hosted Rare Earth Mineralisation.
Castillo Copper (CCZ), a base metal explorer, reported new cobalt assays for the Fence Gossan and Ziggy’s Hill Prospects which are both within the Defined Target Area of the BHA Project’s East Zone. The company said the Fence Gossan Prospect assays are outstanding and provide the Board with increased confidence there is potentially a significant underlying cobalt system within the BHA Project’s East Zone. In addition, the assays for more than 180m of diamond core from five drill-holes will clarify, firstly, the cobalt potential at The Sister Prospect; and, secondly, if the north-west quadrant is prospective for cobalt, zinc and PGE mineralisation.
Enwell Energy (ENW), the AIM-quoted oil and gas exploration and production group, updated on its operational activities in Ukraine. In light of the Russian military action in Ukraine, Enwell shut-in and made safe its production and drilling operations at all of its fields. Subsequently, on 11 March 2022, Enwell commenced the partial restart of production operations at its MEX-GOL and SV fields.
Cloudbreak Discovery (CDL), a leading natural resource project generator, has entered into an agreement with Ultimate Resources Canada Ltd. and Masterstroke Investments Pty Ltd. to submit a petroleum development agreement and enter final negotiations for Petroleum Exploration Licence Block 2019 in Namibia. Cloudbreak will act as a financial partner and sit on the joint operating committee giving corporate direction and reviewing technical information.
BlueRock Diamonds (BRD), the AIM listed diamond producer, announced its Q1 2022 production update. The company said the market for Kareevlei diamonds has remained extremely positive throughout the quarter, with carats sold up 47% and prices at an exceptional average of $686 per carat driving strong revenue flows. The outlook remains firm with the supply side.
eEnergy (EAAS), the digital energy services company, has entered into a new €10m committed project funding facility to extend both the scope and scale of its financing arrangements with SUSI Partners AG.
Atalaya Mining (ATYM) announced new Mineral Resource Estimates, for its San Dionisio and San Antonio deposits, which form part of Proyecto Riotinto and are located adjacent to the Company’s operating Cerro Colorado open pit and 15 Mtpa plant. The company said the completion of an independent Mineral Resource Estimate for the San Dionisio deposit is an important milestone.
Cellular Goods (CBX) updated concerning its communications with the Food Standards Authority with regards to its ingestibles range. The company said the FSA’s current position is that any new products not on sale before February 2020 are not eligible for the public list and therefore should not be available for sale. CBX said it is currently considering its position pending advice from the company’s advisers and is also seeking further clarification on the FSA’s stance.
IOG (IOG), the UK gas and infrastructure operator, provided a further Phase 1 update. The company said it has resolved the Blythe platform issue and restored the Blythe well into production alongside Elgood. It is also resuming Southwark drilling in the coming days.
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