RNS Hotlist with Zak Mir: ORR, GCAT, ZPHR, POLB, COPL, HUI, OKYO, PRE, COOK, BLOE & THR via Vox Markets

We perhaps found out today why shares of Oriole Resources (ORR) have been such a firm market of late. The AIM-quoted gold exploration company reported that its partner IAMGOLD Corporation has signed a definitive agreement to sell its portfolio of projects in Senegal, Mali and Guinea to Managem Group for an aggregate consideration of approximately $282 million.

Author @ZaksTradersCafe

Included in the sale is IAMGOLD’s interest in the Option Agreement on Senala, where IAMGOLD has recently earned a 51% initial interest in Senala by spending $4m over four years and can earn up to a further 19% (total 70%) by spending an additional $4m before the end of February 2024.

Caracal Gold (GCAT), the East African gold producer, published a Scoping Study focused on the expansion of its flagship Kilimapesa Hill Gold Project in Kenya. The company said it was delighted with the results of the Scoping Study for Kilimapesa, which reported a headline 114% IRR, 2-year payback, and $93m of free cash flows being generated over the life of mine. The economics in tandem with the low strip ratio mine plan, and simple heap leach processing route are to deliver circa 24,000oz gold per annum,

Zephyr Energy (ZPHR), the Rocky Mountain oil and gas company, announced the acquisition of the remaining 25 per cent working interest across the White Sands Unit in the Paradox Basin, Utah, U.S. In addition, the company announced that it has acquired a working-interest in a further six wells in the Williston Basin, North Dakota, U.S. and that Directors soon intend to exercise warrants that will result in incremental cash proceeds of circa £445,000.

Poolbeg Pharma (POLB), an infectious disease focused biopharmaceutical company, announced that it has successfully identified potential new drug candidates from its Respiratory Syncytial Virus artificial intelligence Programme with OneThree Biotech, Inc. The company said that since initiating the collaboration in February 2022, Poolbeg’s scientific team has worked closely with OneThree to build a tailored AI approach that leverages Poolbeg’s unique RSV human challenge trial data in order to identify disease-relevant biological pathways and potential drug targets.

Canadian Overseas Petroleum (COPL), an international oil and gas company, announced a costless restructuring of its West Texas Intermediate and Butane hedges effective 1 January 2023, as it prepares for senior debt refinancing in the first quarter of 2023.

Hydrogen Utopia International (HUI), a company specialising in turning non-recyclable mixed waste plastic into carbon-free fuels, announced that it admission to the Official List of the LSE which was due to take place today, has been delayed for highly technical reasons arising from the interaction of the rules and regulations relating to the Main Market and AQSE rules.

OKYO Pharma (OKYO), an ophthalmology-focused bio-pharmaceutical company, announced that it is participating in the Biotech Showcase in San Francisco, California from January 9-11, 2023 and will be hosting institutional investor and partnering meetings both at the event and online.

Pensana (PRE) announced that M&G Investment Management has agreed to invest $4 million (£3.19 million) in the company by way of a placement of 7,250,000 shares at a price of 44p. The company said Initial site works are underway at Saltend and Longonjo, and this additional investment will take it through to main financing and the commencement of main construction at both projects during Q1 of 2023.

Cooks Coffee Company (COOK), the international coffee focused café chain, announced that it has issued 4,647,445 shares at an issue price of NZ$0.36 (£0.18), to raise gross proceeds of approximately NZ$1,673,080 (approximately £836,540), pursuant to a shortfall placement associated with the company’s previously announced rights issue.

Block Energy (BLOE), the exploration and production company focused on Georgia, announced that the JSR-01 DEEP testing programme has proven oil from a previously unproduced zone in the Patardzeuli field. Well JSR-01 DEEP is the company’s first Project II appraisal well located in the southwest of the Patardzeuli field. The well was drilled 470m deeper than the donor JSR-01 well, close to the original oil-water contact.

Thor Mining (THR) provided uranium drilling results from the recently completed drilling program at the company’s 100%-owned Wedding Bell and Radium Mountain Projects, Colorado, USA. The company said as the first company to access and drill test this highly prospective area, the intersection of uranium bearing reduced sandstones at the newly tested Section 23 prospect is exciting to see, as is the continuity of high-grades along strike of historic workings at both at Rim Rock and Groundhog.

Author @ZaksTradersCafe

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The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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