Tirupati Graphite (TGR), the specialist graphite company, looks to have delivered a key milestone in terms of becoming one of the world’s leading producers.
TGR announced it has raised £5,000,000 by way of an institutional and private placing at 35p versus the latest share price of 41.5p. Optiva Securities acted as sole broker and bookrunner to the company. The fundraise was oversubscribed. The company said the fundraise provides it with the financial resources to meet the obligations towards the completion of the Suni transaction. The Balama Central and Montepeuz projects which are held by Suni Resources, are both fully licensed for construction to 150,000 tpa flake graphite production capacity.
Angus Energy (ANGS) announced that, despite relatively slow progress in casing and cementing, it expects to resume drilling into the open hole section of the reservoir in the early part of next week with well clean up operations set to commence on or around 16th December shortly followed by well testing.
Contango (CGO) announced it has entered into a non-binding MOU with a leading Multi-National Company with respect to the Company’s Muchesu Coal Project, the in-country name of the Lubu Coal Project, in Zimbabwe. This MOU outlines a framework for collaboration across not only coking coal, but also in the manufacture of coke and follows several site visits and a preliminary analysis of a 50kg sample of Muchesu washed coking-coal.
Cobra (COBR), a gold, rare earth and IOCG exploration company, provided an update on exploration activities. The company the work completed through this RC programme to date will be valuable going forward, with results expected within the next six weeks which will contribute towards an expanded gold mineral resource estimate.
Bidstack Group (BIDS), the in-game brand activation platform, announced the expansion of its exclusive native in-game advertising partnership with a leading, global AAA game publisher with the addition of two mobile titles. Bidstack said the two titles join Bidstack’s existing title from one of the world’s largest sporting franchises, in a multi-year deal that will see it exclusively place native in-game advertising across these three mobile titles.
Just in time for Christmas, Condor Gold (CNR) said it was providing all Qualifying Shareholders with the opportunity to subscribe for an aggregate of up to 26,438,255 Open Offer Shares, to raise up to approximately £3,965,000. When aggregated with the £1m raised by the issue of the CLNs, this would allow the company to raise up to approximately £4,965,000.
Helium One Global (HE1), the primary helium explorer in Tanzania, announced the completion of analysis of its proprietary high resolution Falcon Airborne Gravity Gradiometry and aero-magnetic data over the Balangida Rift Basin. HE1 said this work will lead to further helium gas exploration target generation in Balangida widening the overall Company opportunity in Tanzania.
Ondine Biomedical (OBI), the Canadian life sciences company with the Star Wars friendly ticker code, said it has received funding of nearly $735,000 from Agriculture and Agri-Food Canada (AAFC) towards development of a food-safe photodisinfection method for Canada’s meat packing industry. Ondine will leverage its proven medical photodisinfection technology platform to create a novel, photodynamic disinfection process to destroy pathogens on meat products without causing microbial resistance.
Mirriad (MIRI), the in-content advertising company, has delivered its first in-content advertisements via an end-to-end programmatic transaction. Programmatic advertising uses an automated process to purchase digital ad inventory across web, mobile, apps, video and other digital channels.
One of the few beams of light on the London stock market this autumn have been the lithium plays, a group which AfriTin Mining (ATM) looks as though it may be joining this elite band. The African technology metals mining company, announced further results from the lithium and tantalum drilling programme at the company’s Uis Mine. The company said these exploration drill results contain the highest average lithium grade for a full pegmatite intersection within the V1/V2 pegmatite ore body to date, namely 90m at an average Li2O content of 1.40%. This intersection includes a continuous portion of 76 m at 1.56% Li2O. The lithium grade of the V1/V2 pegmatite appears to increase with depth.
Hands up those who know the intricacies of what Induction Healthcare (INHC) actually does, but things appear to be on track currently. The digital health platform announced its unaudited interim results for the six months ended 30 September 2022, Recorded Revenues were up 54% to £7.1m (H1 2021: £4.6m) with organic growth across key products The company said this was a period of continued revenue growth driven by the company’s leading position providing products to support the digitization of healthcare delivery.
MGC Pharmaceuticals (MXC) a European based pharmaceutical company, announced that it has completed the delivery of its largest order of ArtemiC™ to US distribution and marketing partner, AMC Holdings Inc. In October, AMC Holdings, amended the terms of its $1,000,000 order of ArtemiC™ Rescue, with the product to be delivered in a single shipment, and to be ready for immediate supply in the US owing to increasing demand. Delivery of this large consignment of ArtemiCTM has now been completed.
Petro Matad (MATD) the AIM quoted Mongolian oil company, provided an operational update. The company said It has been a frustrating year given the lack of progress on the land access issue in Block XX. It is hopeful that it is now reaching a new phase in the process with central government recognising that it needs to bring this access issue to an end through direct action.
It would appear that Equals Group (EQLS) is one of the few outright winners in the current economic environment. The payments group focused on the SME marketplace, provide a trading update for the 11 months ended 30 November 2022. This showed revenues for the Period were £63.5 million, an increase of 61% over revenues of £39.5 million achieved in the same period in 2021. Revenue per day increased to £0.27 million per day from 230 working days compared to £0.17 million per day in 2021.
Versarien (VRS), the advanced materials engineering group, said that the UK Government, via Innovate UK, in July had agreed a £5 million loan to the company, for a project named G-SCALE, an acronym for Graphene, Seat, Concrete, Arch, Leisure, Elastomer. IUK has now offered to vary the terms of the Loan by deferring commencement of the capital repayments by one year, to be paid in ten equal quarterly repayments, commencing in August 2025. A deed of variation to the Loan has been signed by the company accepting the offer.
OptiBiotix Health (OPTI), a life sciences business, announced that it has raised £500,000 through the issue of 3,125,000 new ordinary shares at 16p. The company said the net proceeds of the subscription will be utilised to invest in the Company’s direct-to-consumer product model.
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